Wrapped BTC (Trustless Bridge)
1. Summary
- Description
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Wrapped BTC (Trustless Bridge) is a bridge that enables the transfer of Bitcoin assets between the Bitcoin network and the Ethereum network. It permits users to move their BTC from the Bitcoin network to the Ethereum network, allowing them to interact with decentralized finance (DeFi) applications on Ethereum.
Wrapped BTC (Trustless Bridge) is a bridge that enables the transfer of Bitcoin assets between the Bitcoin network and the Ethereum network. It permits users to move their BTC from the Bitcoin network to the Ethereum network, allowing them to interact with decentralized finance (DeFi) applications on Ethereum.
What are Bridges
Bridges are a type of infrastructure that enables the transfer of assets between different blockchain networks. They facilitate the flow of assets from one blockchain to another, enabling cross-chain interoperability. By using bridges, users can utilize their assets across various blockchain platforms, which is particularly valuable for assets native to one network but not supported by another.
How They Work
Wrapped BTC is a wrapped token that represents the value of Bitcoin on the Ethereum network. When a user wants to mint Wrapped BTC, they send their Bitcoin to the Bitcoin-Ethereum bridge. The BTC is then locked up, and a corresponding Wrapped BTC token, pegged to the value of the original coin, is created on Ethereum. This Wrapped BTC token can be used on Ethereum-based DeFi platforms for lending, yield farming, and other activities.
The Wrapped BTC bridge uses a trustless approach, meaning that it does not rely on intermediaries. Instead, the bridge uses a random beacon to select validators who are responsible for custodying the locked-up Bitcoin assets. These validators must put down collateral to ensure that they do not misbehave. This approach provides additional security and integrity to the bridging process.
Overall, the Wrapped BTC bridge plays a crucial role in connecting the Bitcoin and Ethereum networks, facilitating the free flow of assets and enhancing the overall functionality and viability of DeFi applications.
| Price | |
| 52W High price | $33,506.63 |
| 52W High date | 14th Jul 2023 (1 year ago) |
| All Time High (ATH) Date | 3rd Mar 2025 (2 months ago) |
| All Time Low (ATL) Date | 3rd Mar 2025 (2 months ago) |
| Supply & Trading Volume | |
| Trading Volume (24h) | $49.00 |
How does Wrapped BTC (Trustless Bridge)'s () performance compare to the median performance for assets of a similar market capitalization?
30 Day Return
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Similar Market Cap
No GitHub repos found. Either the project is not open source or we don't have data yet.
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Historic data is only available from 22nd April 2022
Total Followers
| Reddit Subscribers | |
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| Active Reddit Users (past 24h) | |
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| Telegram Users | |
| Twitter followers | 217 |
No recent news found.
Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:
| Website | https://trustlessbridge.io/ |
|---|---|
| @TrustlessOnBTC |
What is the correct contract address for Wrapped BTC (Trustless Bridge)?
| Trustless-computer | 0xfb83c18569fb43f1abcbae09baf7090bffc8cbbd |
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Has Wrapped BTC (Trustless Bridge) been audited for security?
No security audits found for this project.
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