Review on Wrapped Bitcoin by LUIS RIVERO R
Bitcoin on the Ethereum network.
It is simply a token whose backing is bitcoin 1: 1, according to official data all funds can be verified. This is a community asset in which decisions are made by the community.
There are a considerable number of partners in this project, who have the backing of the community and are really well known in the industry.
The most interesting thing about this project is that it is fully auditable, since its accounting books are public and are available on the official website where anyone can access and verify all transactions.
Some aspects of the custody and issuance of each token is confusing for some users.
Pros
- possibility to use BTC on the ether chain.
- Value backed 1: 1 with BTC.
- It can be used in Ether Dex exchanges.
Cons
- Some custodians keep funds centralized.
