There’s a new type of token gaining popularity in the crypto space with the launch of coins that are backed by a specific amount of proof-of-work (PoW) hashrate. On January 6, 2021, Binance launched a new project called the bitcoin standard hashrate token (BTCST), a coin that represents 0.1 terahash (TH/s). Furthermore, the mining operation […]
CoinList has added support for tBTC, an ERC-20 token backed one-to-one by bitcoin. The move allows CoinList users to mint tBTC directly from their bitcoin wallets. tBTC is the second tokenized form of bitcoin added by CoinList after WBTC. Such tokens allow users to participate in Ethereum-based decentralized finance (DeFi) applications and unlock yield-earning opportunities. […]
More than $1 million in user funds have been permanently locked in smart contracts that are part of Percent Finance, a fork of decentralized lending protocol Compound. According to an announcement post published by the development team behind the project on Wednesday night, the funds — which are made up of USDC, WBTC and ETH — […]
Token sale platform CoinList says that today it minted the most WBTC ever produced in a single day. The feat occurred via two separate transactions. The first transaction minted 1,300 WBTC, the ERC-20 token backed 1:1 by bitcoin. The second minted a record 3,700 WBTC, CoinList CEO Graham Jenkin told The Block. The total 5,000 […]
Quick Take This research piece is a compilation of different metrics across projects — including stablecoins, lending, DEXs, derivatives, privacy solutions, and more. Since May 1st, the total value locked in decentralized finance has grown from under $1 billion to $11.1 billion today. The fastest growing area of DeFi has been decentralized exchanges, which have […]
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 […]
Quick Take Opium.exchange has brought credit default swaps to crypto. The firm’s newest CDS product is tied to wBTC. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.