Battle for the Base Layer: TBTC and Interoperability Between the Biggest Chains
TBTC is an interoperable cryptocurrency that enables people to use Bitcoin on the Ethereum blockchain. Head of Business Strategy at Thesis, the team behind the token, Carolyn Reckhow joins Consensus: Distributed to discuss what this means for the two largest blockchains. One of the first use cases Thesis is exploring is tBTC’s integration into the MakerDAO protocol. “The [Maker] community is excited by different collateral types,” Reckhow said, enabling tBTC to serve as “Bitcoin collateral” to print Dai. A one-to-one Bitcoin “supply peg,” which will always be redeemable for the underlying asset, tBTC is fully trustless, unlike other wrapped-Bitcoin assets.