Review on Wrapped Bitcoin by Douglas Cachazo
WBTC Wrapped Bitcoin: WBTC Token Dressed in Bitcoin
The project basically aims to create the WBTC Coin which is an ERC-20 token of the Ethereun blockchain so that 1 WBTC is the equivalent of 1 Bitcoin, in other words the token is backed by bitcoin, how does that happen , the person who wishes can transfer his bitcoin and receives 1 WBTC with equal value to Bitcoin, which he earns with that, actually being on the ethereun platform the transactions are faster, he acquires the benefits of a smart contract. That is why I say that it is a bitcoin disguised in the ethereum blockchain, this will obviously generate more liquidity to decentralized exchanges and to the blockchain. Good project with a lot of future and even more as it continues to saturate the Bitcoun platform.
Pros
- Using bitcoin in decentralized financial applications on the Ethereum chain
- Being able to convert from WBTC to bitcoin
- Nice project with many use cases
Cons
- Nothing to say against
