Ethereum Has Become Bitcoin’s Top Off-Chain Destination

The most popular way to use bitcoin off-chain is on Ethereum, recent data indicates. 

Since 2016, software engineers have worked to extend the oldest and largest cryptocurrency’s use cases through a variety of companion protocols, like the Lightning Network for payments or the Liquid Network for trading. But to date, the most popular off-chain protocols that use bitcoin (the currency, with a small “b”) run on the largest rival to Bitcoin (the network, uppercase).

In fact, Ethereum projects including WBTC and imBTC hold 70% more bitcoins than Lightning or Liquid.

This is “ironic” to Camila Russo, author of “The Infinite Machine“, a forthcoming book about Ethereum, but she’s not surprised. 

,

If reproduced, please indicate the source: https://www.uucj.net/ethereum-has-become-bitcoins-top-off-chain-destination/

Leave a Reply

Your email address will not be published.