BitGo, the institutional digital asset and custodial platform, has adopted oracle network Chainlink (LINK) for cross-chain auditing of wrapped Bitcoin (WBTC). Over the last year, BitGo has bridged over $1 billion on Ethereum in form of WBTC indicating a clear surge in demand for cross-chain crypto assets within the DeFi space. For enhanced auditability and
Lightning Network that was launched with the hope of enabling instant payments and scaling Bitcoin to handle millions to billion of transactions per second across the network. However, currently the Lightning Network appeared to be losing pace, especially when compared to Wrapped Bitcoin. Lightning vs WBTC The total value of Bitcoin locked in Ethereum via
Leading crypto exchange, Coinbase, announces a list of 19 cryptocurrencies which are currently under consideration for listing. The exchange management is reviewing the following cryptocurrencies, These new assets include, in alphabetical order: Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA,
Ethereum is taking over the second layer implementation of Bitcoin [BTC] leaving Liquid and Lightning Network behind. Liquid’s L-BTC and Ethereum’s wBTC works on similar principles of issuing an extension of Bitcoin as a separate token. While Liquid claims to lock the tokens on-chain, wBTC is stored at Bitgo Trust. Reportedly, the Liquid Network Federation
Decentralized Finance, popularly known as DeFi, is another disruptive application of blockchain technology enabling more people across the globe to access financial services. It refers to digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on blockchain technology, more specifically, Ethereum. In this blog, we will explore the following aspects of DeFi
The joint effort by Kyber Network (KNC), Republic Protocol (REN) and BitGO seems to be working well as the teams together announced the launch WBTC – or Wrapped Bitcoin. WBTC is a proposed ERC-20 token which is backed up by ‘physical’ reserves of BTC and will be expected to remain tethered to Bitcoin’s value.