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Wrapped Bitcoin (WBTC) launched today on the Ethereum blockchain, with a total of 26 partners and 15 decentralized autonomous organization (DAO) members. First announced in October 2018 in partnership with Kyber Network and Ren, WBTC is an ERC20 token backed 1:1 with Bitcoin that brings Bitcoin to the Ethereum ecosystem.

BitGo’s role as a custodian

BitGo is lending its industry leading custody solution to the project, ensuring the secure storage of WBTC and providing proof of assets for the fully backed token. …

January 15th 2019 Update

The Ethereum Constantinople hard fork has been postponed due to potential vulnerabilities. Visit the Ethereum blog for more information.

On January 16th 2019 the Ethereum blockchain will undergo a hard fork, implementing several significant upgrades to modernize and improve scalability of the blockchain. The Ethereum Constantinople hard fork is a key step in the roadmap before Ethereum 2.0.

The software upgrades are comprised of five Ethereum improvement proposals (EIPs) focused on improving the efficiency and lessening the costs associated with producing Ethereum transactions. …

Today we’re announcing Wrapped Bitcoin (WBTC), a collaborative effort with a community of partners to bring Bitcoin to the Ethereum network as an ERC20 token. The token will bring the stability and value of Bitcoin to Ethereum’s expansive ecosystem of decentralized applications.

BitGo will provide custody of the Bitcoin and tokenize it by minting WBTC together with approval from community members. It’s an exciting opportunity for us to build on our mission: making digital currencies usable for business.

WBTC users will be able to utilize Bitcoin in a wide variety of new decentralized use cases, including on decentralized exchanges (DEXs), as collateral for stable coins or lending, for payments and flexible smart contracts within the Ethereum ecosystem. The leading use cases will launch in early January, powered by important decentralized projects including Kyber Network, Republic Protocol, MakerDAO, Dharma, Airswap, IDEX, Compound, DDEX, Hydro Protocol, Set Protocol, Prycto, RadarRelay, and Gnosis. …


Benedict Chan

CTO at BitGo

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