Wrapped Bitcoin Is Coming to Ethereum

BTC is poised to make its Ethereum debut. An initiative involving a number of decentralized exchanges (DEXs) in addition to crypto-custodians Bitgo will introduce ”BTC-backed” WBTC, with the W standing for “wrapped.” When WBTC launches in January 2019, it is going to allow ethereum-based ”bitcoin” to be traded on DEXs, boosting liquidity and opening the Ethereum ecosystem to a wider viewers.

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Bitcoin Represented as an ERC20 Token

Blockchains akin to Bitcoin and Ethereum have at all times operated independently. Whereas interoperability protocols have been below improvement for a while, reaching full compatibility between networks whose code is alien to each other is a posh process. The event of wrapped bitcoin doesn’t imply that full synergy between bitcoin and ethereum has been attained. What it does imply is that BTC customers can transact on ERC20 platforms utilizing a…

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