Day: January 31, 2019

The ”Wrapped Bitcoin” Project Has Now Officially Launched on Ethereum

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News On Jan. 30, a group of cryptocurrency developers and organizations officially launched a project called Wrapped Bitcoin (WBTC) on the Ethereum network. The ERC20 token is a coin backed by bitcoin core (BTC) reserves and has started trading on several exchange platforms. Also read: A Look at Openbazaar’s Multi-Currency Wallet and Vendor Listings The Introduction of Wrapped Bitcoin Last October, a joint initiative by Bitgo, Kyber Network, and Ren (formerly Republic Protocol), revealed the creation of a new ERC20 token called WBTC. The new tokens are meant to bring more…

The Wrapped Bitcoin Project Has Officially Launched on Ethereum

boss

On Jan. 30, a group of cryptocurrency developers and organizations officially launched a project called Wrapped Bitcoin (WBTC) on the Ethereum network. The ERC20 token is a coin backed by bitcoin core (BTC) reserves and has started trading on several exchange platforms. Also read: A Look at Openbazaar’s Multi-Currency Wallet and Vendor Listings The Introduction of Wrapped Bitcoin Last October, a joint initiative by Bitgo, Kyber Network, and Ren (formerly Republic Protocol), revealed the creation of a new ERC20 token called WBTC. The new tokens are meant to bring more liquidity…

A Bitcoin-Backed Stablecoin Has Launched on the Ethereum Blockchain

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A new token backed one-to-one with bitcoin is now live on the ethereum blockchain. “Wrapped BTC” (WBTC) officially launched its ERC-20 token Wednesday evening. The project was first unveiled in October as a joint initiative between decentralized exchange startups Kyber Network and Republic Protocol, as well as cryptocurrency custody company BitGo. As stated on the project’s website, the aim of WBTC is to bring “greater liquidity to the ethereum ecosystem including decentralized exchanges and financial applications.” At the time, BitGo CTO Benedict Chan described WBTC as possessing both “the stability of…

ConsenSys Developer Joins Ethereum Classic Cooperative as Executive Director

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Bob Summerwill, a developer at blockchain tech company ConsenSys, has joined the Ethereum Classic Cooperative as its executive director, according to an official announcement on Jan. 29. The Ethereum Classic Cooperative manages the development and growth of the Ethereum Classic (ETC) cryptocurrency’s protocol. Ethereum Classic is the result of a hard fork in 2016, arising out of differences into how to respond to the high-profile DAO hack of the Ethereum (ETH) blockchain. Per the announcement, Summerwill will develop relationships that help the mission of the organization and grow ETC’s development…

Major Banks are 3,233% More Expensive Than Bitcoin

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A financial professional paid $10 to his bank for making more than six saving withdrawals. Later, he admitted that using Bitcoin could have been cheaper. Short the Bankers Pat Chirchirillo, a financial advisor at Philadelphia-based McAdam Financial, found a 3,233% different between the cost of withdrawals in banks and Bitcoin. From the look of it, he overreached his withdrawal limits, per a Federal rule called Regulation D which limits per saving account withdrawals by month. As a result, his bank – Bank of America – charged him a $10 fee…