RATE Group | How Bitcoin is coming to Ethereum, again
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How Bitcoin is coming to Ethereum, again

15 Feb How Bitcoin is coming to Ethereum, again

Posted at 01:54h in Ethereum News by

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Bitcoin has been tokenized on the Ethereum blockchain again. This time it’s interoperability solutions provider Summa One and the Keep Network, a privacy layer for Ethereum (ETH), building the token, called tBTC.

On Thursday, it debuted on Ethereum’s testnet, and a mainnet launch is planned in March. The project hopes to bring Bitcoin (BTC) into the Decentralized Finance (DeFi) industry. Could this be the most important project to launch on Ethereum in 2020? 

The launch is big news especially for DeFi; tBTC means that Bitcoin holders can now earn interest on lending dapp Compound; get a loan from MakerDAO or a non-collateralized one from Aave; trade or lend on Fulcrum or dYdX; save with Dharma Network or Pool Together, and much more.

Up to now it’s been a pipe dream, despite several attempts to recreate a trustless way to bring Bitcoin to Ethereum. But tBTC creates a workaround: essentially, a decentralized issuance mechanism between two parties.

A better form of…

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