U.S. Markets closed

RenBTC Quietly Goes Live in Latest Bid to Bring Bitcoin to Ethereum

Brady Dale

Related: Why Kyber Network Tokens Tripled to $100M Despite the Coronavirus Recession

“Any asset minted on Ethereum by RenVM is a 1:1 backed ERC-20. This means that if you have 1 renBTC (an ERC-20), you can always redeem it for 1 BTC. It’s a direct supply peg. renBTC isn’t a synthetic, it doesn’t rely on a liquidation mechanism, and it’s not the price of Bitcoin on Ethereum. It is a one to one representation of Bitcoin on Ethereum that can be redeemed for BTC at any time, in any amount.”

Related Stories