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    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('
                        Contents
                        <ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h278">When Bitcoin meets Ethereum  </a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h370">Tough competition  </a></li></ul>
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    Ethereum-based&nbsp;Wrapped Bitcoin (WBTC) has now surpassed the capacity of <a href="https://u.today/trading-mining-using-lightning-network-also-becomes-profitable">the&nbsp;Lightning Network (LN)</a>, thus becoming the largest second-layer Bitcoin network.&nbsp;
    
    WBTC now has <a rel="nofollow" target="_blank" href="https://www.reddit.com/r/CryptoCurrency/comments/ghnodu/ethereum_is_now_the_largest_bitcoin_secondlayer/">$11.2 mln worth of BTC</a>, leaving the LN far behind with only $8.1 mln.&nbsp;&nbsp;&nbsp;
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    When Bitcoin meets Ethereum&nbsp;&nbsp;
    
    WBTC is an ERC20 token that is fully backed by one Bitcoin, which is similar to fiat-backed stablecoins.&nbsp;
    
    The project, which was launched back in January 2019, aims to bring the unmatched liquidity of the world's largest cryptocurrency to the growing <a href="https://u.today/dforce-defi-protocol-hacked-25m-in-bitcoin-btc-and-ethereum-eth-stolen">decentralized finance (DeFi) ecosystem</a>.&nbsp;
    
    Putting Bitcoin on the Ethereum blockchain also allowed to substantially increase the speed of the cryptocurrency.&nbsp;
    
    Back in April, one more tokenized version of Bitcoin was issued on the Tezos blockchain (tzBTC).&nbsp;&nbsp;
    
    <a href="https://u.today/defi-ecosystem-recovers-after-black-thursday-analyst">card</a>&nbsp; &nbsp;&nbsp;
    
    Tough competition&nbsp;&nbsp;
    
    The LN is considered to be Bitcoin's main scaling solution, but its adoption rate has so far been underwhelming.&nbsp;
    
    The technology, which allows opening off-chain channels for conducting lighting-speed BTC transactions, has had&nbsp;WBTC stepping on its toes for more than a year.
    
    That said, the LN also <a href="https://u.today/bitcoin-lightning-to-be-implemented-by-major-crypto-exchange-bitfinex">began to make headway</a>, with such industry leaders as Electrum and Bitfinex adding it to their respective platforms.&nbsp;
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                        Contents
                        <ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h278">When Bitcoin meets Ethereum  </a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h370">Tough competition  </a></li></ul>
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    Ethereum-based&nbsp;Wrapped Bitcoin (WBTC) has now surpassed the capacity of <a href="https://u.today/trading-mining-using-lightning-network-also-becomes-profitable">the&nbsp;Lightning Network (LN)</a>, thus becoming the largest second-layer Bitcoin network.&nbsp;
    
    WBTC now has <a rel="nofollow" target="_blank" href="https://www.reddit.com/r/CryptoCurrency/comments/ghnodu/ethereum_is_now_the_largest_bitcoin_secondlayer/">$11.2 mln worth of BTC</a>, leaving the LN far behind with only $8.1 mln.&nbsp;&nbsp;&nbsp;
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    When Bitcoin meets Ethereum&nbsp;&nbsp;
    
    WBTC is an ERC20 token that is fully backed by one Bitcoin, which is similar to fiat-backed stablecoins.&nbsp;
    
    The project, which was launched back in January 2019, aims to bring the unmatched liquidity of the world's largest cryptocurrency to the growing <a href="https://u.today/dforce-defi-protocol-hacked-25m-in-bitcoin-btc-and-ethereum-eth-stolen">decentralized finance (DeFi) ecosystem</a>.&nbsp;
    
    Putting Bitcoin on the Ethereum blockchain also allowed to substantially increase the speed of the cryptocurrency.&nbsp;
    
    Back in April, one more tokenized version of Bitcoin was issued on the Tezos blockchain (tzBTC).&nbsp;&nbsp;
    
    <a href="https://u.today/defi-ecosystem-recovers-after-black-thursday-analyst">card</a>&nbsp; &nbsp;&nbsp;
    
    Tough competition&nbsp;&nbsp;
    
    The LN is considered to be Bitcoin's main scaling solution, but its adoption rate has so far been underwhelming.&nbsp;
    
    The technology, which allows opening off-chain channels for conducting lighting-speed BTC transactions, has had&nbsp;WBTC stepping on its toes for more than a year.
    
    That said, the LN also <a href="https://u.today/bitcoin-lightning-to-be-implemented-by-major-crypto-exchange-bitfinex">began to make headway</a>, with such industry leaders as Electrum and Bitfinex adding it to their respective platforms.&nbsp;
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Ethereum Becomes Bitcoin's Largest Second-Layer Network

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Mon, 11/05/2020 - 18:08
Ethereum Becomes Bitcoin's Largest Second-Layer Network
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents
Advertisement

Ethereum-based Wrapped Bitcoin (WBTC) has now surpassed the capacity of the Lightning Network (LN), thus becoming the largest second-layer Bitcoin network. 

WBTC now has $11.2 mln worth of BTC, leaving the LN far behind with only $8.1 mln.   

card

When Bitcoin meets Ethereum  

WBTC is an ERC20 token that is fully backed by one Bitcoin, which is similar to fiat-backed stablecoins. 

The project, which was launched back in January 2019, aims to bring the unmatched liquidity of the world's largest cryptocurrency to the growing decentralized finance (DeFi) ecosystem

Putting Bitcoin on the Ethereum blockchain also allowed to substantially increase the speed of the cryptocurrency. 

Back in April, one more tokenized version of Bitcoin was issued on the Tezos blockchain (tzBTC).  

    

Tough competition  

The LN is considered to be Bitcoin's main scaling solution, but its adoption rate has so far been underwhelming. 

The technology, which allows opening off-chain channels for conducting lighting-speed BTC transactions, has had WBTC stepping on its toes for more than a year.

That said, the LN also began to make headway, with such industry leaders as Electrum and Bitfinex adding it to their respective platforms. 

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