Crypto News

CoinList Adds tBTC Minting Capabilities, Lowering Entry Barrier

  • tBTC acts as Bitcoin covered in an Ethereum wrapper, making it compatible on Ethereum’s blockchain for various purposes, such as DeFi. Users of tBTC can now mint the asset on crypto exchange CoinList.
  • Bitcoin and Ethereum are two separate blockchains that aren’t inherently compatible with each other’s networks. Ethereum, however, hosts much of the activity for the DeFi sector of crypto. Wrapping Bitcoin on the Ethereum blockchain allows users to hold their value in Bitcoin while using it to interact in DeFi.
  • CoinList adding tBTC functionality improves simplicity for those looking to work with the asset. Thesis CEO Matt Luongo added “Even though tBTC is censorship resistant and permissionless, it’s still a pain to use. It’s harder to do something without counterparties.”
  • Wrapped Bitcoin is a separate asset backed 1:1 by stored BTC and has become one of the industry’s popular options for Bitcoin on the Ethereum network, though WBTC’s model is more centralized.
  • In contrast to WBTC, tBTC works with a network of blockchain validators and parties that individually contribute to the minting and backing of tBTC, kept in check by activity on the blockchain.
  • Read the full story here

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Corey Hansford

Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.

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