1 / 2

TBTC Relaunches in Its Bid to Create a Trustless Bitcoin-Ethereum Bridge

tBTC is trustless, using a random beacon to select u201csignersu201d who have responsibility for the deposited Bitcoin.<br><br>

cryptodose
Download Presentation

TBTC Relaunches in Its Bid to Create a Trustless Bitcoin-Ethereum Bridge

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. tBTC relaunches in its bid to create a trustless Bitcoin-Ethereum bridge tBTC is trustless, using a random beacon to select “signers” who have responsibility for the deposited Bitcoin. tBTC, a pegged token that offers a trustless Bitcoin-Etherem bridge after an unsuccessful first attempt has finally relaunched. Keep, Summa and the Cross-chain Group announced it had relaunched the ERC20 token exchangeable with Bitcoin in 1:1. This was after helming the project back in during May when the team found “a significant issue in the redemption flow of deposit contracts identifies that put signer bonds at risk in certain situations,”. As nobody participating in the project lost funds then, the project paused. This allowed the latest release to come with “unprecedented security measures in place and ready to be used”.

  2. According to the ​announcement​, “tBTC is trustless, using a random beacon to select “signers” who have responsibility for the deposited BTC”. It means any user who seeks to explore tBTC Bitcoin-Ethereum bridge can do so with no intermediary needed to sign off on the transactions. tBTC relaunch comes with the gradual supply increase Although ​wBTC is a dominant player serving especially the DeFi sector, tBTC is not in a rush. The Bitcoin-pegged token relaunches with a release candidate model presently in its Beta stage. After the alpha stage – rc.0 was retracted after the team noticed a bug, rc.1 resolves the issue. This present version of tBTC relaunched uses the highest standard of cryptography, called threshold ECDSA. Also, it is fully audited, open-source, and protections for funds. Hence rc.1 will see supply cap placed on how users can deposit into it. Although the project has undergone three public audits, the team want to make sure user funds are not at risk. Read More: https://cryptodose.co/tbtc-relaunches-to-create-a-trustless-bitcoin-ethereum -bridge/ Follow Cryptodose for daily ​updates​.

More Related