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Category: LBTC
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Moving $25 Billion in BTC via Alternate Chains — There’s Now Over 400,000 Tokenized Bitcoins in Existence
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Blockstream’s Liquid Sidechain Criticized Over Long Outage — Block Signing Issue Related to Upgrade
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Tokenized Bitcoin on Ethereum Crosses $11 Billion Notional, WBTC Commands 76% of Circulating Supply
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Bitcoin-Pegged Token Crafted by Binance Swells, BTCB Now Commands $2.3 Billion Market Cap
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Side-Chaining $3 Billion in Value: There’s More Than 141,000 Tokenized Bitcoins Issued on Ethereum
According to onchain statistics, there is a colossal amount of bitcoin, approximately 141,231 bitcoins or $3.3 billion at the time of publication locked into Ethereum-based tokens. There are roughly seven different wrapped or synthetic bitcoin tokens but the Wrapped Bitcoin project has the lion’s share of coins with 115,411 under custody. At the time of […]
The post Side-Chaining $3 Billion in Value: There’s More Than 141,000 Tokenized Bitcoins Issued on Ethereum appeared first on Bitcoin News.
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Tokenized BTC Crosses $1B Notional: Ethereum Cements Role as Bitcoin’s Main Sidechain
Years ago when the Bitcoin network started suffering from higher fees and congestion, a number of bitcoiners advocated the use of sidechains in order to relieve the main chain’s duties. However, they didn’t realize that the Ethereum network would solidify its role as Bitcoin’s main sidechain during the last year. Five years ago, bitcoiners relentlessly […]
The post Tokenized BTC Crosses $1B Notional: Ethereum Cements Role as Bitcoin’s Main Sidechain appeared first on Bitcoin News.
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Federated Sidechains: $8M in BTC Stuck in Limbo, Analyst Says Action ‘Violates Liquid’s Security Model’
Liquid, the sidechain network developed by the company Blockstream, saw 870 bitcoins ($8 million) frozen in moderation queue due to a seizure from a number of the network’s functionaries. The founder of the Summa project, James Prestwich, explained on Twitter that the emergency 2-of-3 controlled 870 bitcoin “violates Liquid’s security model.” During the last year, […]
The post Federated Sidechains: $8M in BTC Stuck in Limbo, Analyst Says Action ‘Violates Liquid’s Security Model’ appeared first on Bitcoin News.
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Yield Farming Pool Concept May Solidify Ethereum’s Role as BTC’s Main Sidechain
Decentralized finance (defi) applications on the Ethereum chain have been growing wildly during the last two years. Now a number of synthetic versions of bitcoin, that leverage the Ethereum chain, has outpaced offchain solutions like Blockstream’s Liquid and the Lightning Network. Just recently, the platform Synthetix revealed a partnership with Bitgo and the Ren Project […]
The post Yield Farming Pool Concept May Solidify Ethereum’s Role as BTC’s Main Sidechain appeared first on Bitcoin News.
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Ethereum’s Wrapped Bitcoin Set to Eclipse Lightning Network Capacity
Since the project launched a little over six months ago, Wrapped Bitcoin (WBTC) has roughly $5.9 million or 558 BTC locked into the system. At the rate WBTC’s token contract is climbing, the project is close to surpassing the Lightning Network’s capacity in the near future. Also read: The ”Wrapped Bitcoin” Project Has Now Officially […]
The post Ethereum’s Wrapped Bitcoin Set to Eclipse Lightning Network Capacity appeared first on Bitcoin News.
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