What is Wrapped BTC? Gather round folks, theres a new kid in town.

1

Kyber Swap

In 2019, investors were introduced to the first wrapped Bitcoin product, WrappedBTC (wBTC). The creation of wBTC by BitGo, Kyber Network, and Ren, formerly known as Republic Protocol was revolutionary in its own right, but wBTC is entirely centralized due to BitGo being the sole custodian for wBTC and this entity, partly owned by Goldman Sachs, has full legal control of all locked Bitcoin wrapped in wBTC.

#Cryptocurrencies #Crypto #Fintech 6 social mentions

2

Cardano

AnetaBTC is a fully on-chain, decentralized protocol that allows Bitcoin to be directly wrapped on the Ergo and Cardano blockchains. AnetaBTC enables Bitcoin holders to unlock the value of their assets in a secure and efficient environment to provide yield, without selling any Bitcoin and without any third-party custodian involvement, as in the case of wBTC which is on the Ethereum blockchain and is the largest wrapped Bitcoin protocol today with over $14 billion of locked Bitcoin value.

#Cryptocurrencies #Blockchain #Cryptocurrency Wallets 169 social mentions