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The Best of Both Worlds — Bitcoin + Ethereum

HedgeTrade | 01.08| 183

In the business world, we see all types of mergers happen across a variety of different levels and sectors. It can be smaller companies joining forces to simply remain afloat and competitive, or market giants coming together to dominate a particular part of an industry. When efforts are combined the results are often a positive thing.

When it comes to cryptocurrency mergers and acquisitions still continue to happen regularly as the crypto space slowly evolves. As things continue to change we are beginning to see interesting things happen, such as the joint project between Bitgo, Kyber Network and Republic Protocol which hopes to bring the ever famous Bitcoin (and potentially other cryptocurrencies) to the Ethereum platform.

Wrapped Bitcoin (WBTC) is a ERC20 token backed by the value of the BTC we all know and love. By creating this kind of BTC/ETH hybrid this project hopes to bring together the perks of both worlds in one cryptocurrency by utilizing Bitcoin’s prevalence in the crypto space alongside the powerful smart contract technology of Ethereum.

The combination of these two technologies may create something new that the crypto space so desperately needs, and that’s an even bigger ease of use. By putting Ethereum and Bitcoin together the gap between the two ceases to exist, allowing for free-flowing exchange between the two networks.

This brilliant combination of networks bolsters the strength of each network in a new way, which on the surface seems as though it would be highly enticing to cryptocurrency advocates.

As the crypto space progresses into the future perhaps we will be seeing more concepts and projects come together such as this. By mixing together platforms and technology from differing crypto entities, we suddenly have a recipe for new ways of doing things, which is exactly what the quiet crypto space needs.

After all, if you can’t beat them, join them…together.

Originally published at HedgeTrade.


The Best of Both Worlds — Bitcoin + Ethereum was originally published in HedgetradeHQ on Medium, where people are continuing the conversation by highlighting and responding to this story.

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