$94,001.00
-1.36%$1,768.13
-3.19%$2.17
-5.57%$596.75
-1.03%$142.65
-4.29%$0.99995
-0.00%$0.170045
-5.21%$0.678936
-5.13%$0.245142
-0.40%$1,766.71
-3.14%$93,925.00
-1.38%$3.41
-4.67%$14.10
-5.53%$20.86
-6.01%$0.271521
-3.51%$9.06
0.79%$3.16
-2.44%$0.00001314
-4.30%$0.180917
-4.80%$0.99989
-0.00%$2,117.11
-3.54%$363.72
-2.98%$83.05
-3.76%$4.07
-4.52%$18.34
-2.85%$0.999895
-0.19%$1,766.24
-3.40%$4.32
-1.47%$271.22
1.82%$0.999751
0.03%$29.00
-0.50%$0.574601
-1.72%$1,884.94
-3.09%$94,060.00
-1.31%$0.00000872
-4.33%$5.29
-5.14%$5.21
-3.66%$51.39
-1.23%$348.08
-6.15%$1.049
-0.01%$2.44
-5.16%$0.897694
-7.01%$21.68
-2.13%$4.83
-2.58%$1.00
0.00%$12.65
-7.79%$31.28
0.73%$16.47
-3.88%$0.724775
-1.74%$160.07
-5.19%$0.087106
-4.56%$0.086744
-6.90%$0.02606731
-6.00%$4.33
-3.42%$0.999101
-0.10%$1.17
-0.07%$0.233099
-2.13%$4.27
-4.89%$93,646.00
-1.60%$0.221204
-5.54%$4.28
-0.16%$0.703123
-1.60%$2.75
-1.68%$0.31086
-5.16%$2.68
-5.01%$0.489613
-6.49%$0.322463
-4.47%$4.03
-2.09%$0.998635
-0.07%$1.11
1.03%$0.00001865
-6.87%$93,998.00
-1.13%$10.69
0.24%$0.450023
-3.73%$0.078116
0.19%$1,463.35
-5.32%$1.22
-0.79%$0.732136
-6.64%$0.789637
-4.78%$149.73
-4.39%$1.14
-0.67%$0.01760645
-4.39%$74.11
-2.54%$0.210451
-1.44%$1,767.22
-3.18%$3.97
-3.94%$1.001
0.14%$0.559649
-3.45%$0.667307
-4.53%$1,841.60
-3.08%$9.43
-4.39%$0.095268
-4.58%$0.678437
2.61%$0.999453
-0.14%$0.999367
0.00%$596.67
-1.08%$1.34
-9.04%$0.00008946
7.40%$2,003.83
-3.37%$3,314.84
-0.37%$1.00
-0.01%$3,317.70
-0.32%$2.71
-8.39%$0.783683
-1.72%$0.01616885
-2.25%$0.203353
-3.86%$38.39
-2.78%$13.22
2.21%$93,963.00
-1.37%$0.01663487
-3.25%$0.81408
-4.43%$0.729071
-5.75%$94,120.00
-0.79%$157.69
-3.92%$0.291504
-3.53%$183.96
-3.94%$0.00000071
-0.47%$3.82
-5.46%$0.01083408
-6.62%$0.542844
-7.78%$1,881.04
-2.86%$0.113276
-3.83%$0.997714
0.02%$3.09
-2.48%$2.02
-2.05%$0.39667
-3.61%$0.998694
-0.10%$0.242621
-2.31%$0.0179186
-5.05%$0.060358
-6.29%$0.596491
-2.37%$1.093
-1.53%$0.314061
-1.20%$17.60
-6.03%$36.08
1.83%$1.77
-5.89%$1,850.49
-3.24%$0.545106
-3.56%$3.33
-0.50%$0.144743
-7.17%$0.536296
-5.82%$0.069868
0.83%$0.00875353
-5.12%$0.99917
0.07%$95,658.00
-1.32%$0.629539
-4.41%$0.596045
-4.71%$94,007.00
-1.28%$0.999997
0.00%$0.404643
-3.12%$16.84
-2.05%$0.999997
0.00%$1,849.56
-3.07%$0.186934
-10.56%$0.00508738
-4.61%$0.486074
-8.13%$0.429625
-4.00%$1.32
-4.79%$89,723.00
-1.43%$6.69
-4.95%$0.170182
-5.22%$0.00002182
-2.52%$93,893.00
-0.76%$0.530998
-1.98%$0.145804
-2.49%$1.53
-5.98%$1,767.06
-2.87%$5.96
-4.63%$110.87
0.01%$0.00000042
-1.17%$1.085
0.01%$1.001
0.01%$0.079062
-1.58%$0.232564
-2.34%$2.45
-4.57%$94,133.00
-0.71%$0.04076381
-3.07%$1.57
19.39%$0.084725
-4.32%$3.50
-7.86%$1,768.01
-3.16%$0.189619
10.57%$1,881.82
-2.57%$0.00718887
0.43%$1,769.08
-3.14%$0.03666075
-3.00%$0.368625
-2.43%$40.37
-3.85%$0.377437
-3.98%$1.003
0.49%$21.53
-0.48%$0.131677
0.86%$31.41
6.12%$0.00408578
-3.22%$0.543389
-3.56%$0.01769503
-0.44%$1,761.31
-3.16%$0.791719
-2.17%$0.999986
-0.04%$0.00005983
-3.45%$0.99951
-0.25%$1,801.84
-3.45%$0.99989
-0.01%$0.999422
-0.07%$0.69601
-3.43%$0.680434
-6.49%$2.73
-7.91%$0.0043887
-7.34%$93,936.00
-1.30%$0.711764
-4.06%$0.513509
-9.68%$0.00000145
4.15%$0.139945
0.10%$0.233214
-4.96%$110.52
-2.60%$0.25883
-14.87%$23.16
-1.21%$1,756.56
-3.26%$1.18
-4.86%$3.51
-7.77%$18.46
-2.81%$0.999941
0.01%$0.20133
-3.45%$1.00
0.05%$3,311.51
-0.36%$92,631.00
-2.61%$0.00268446
-6.08%$0.0026027
-3.72%$0.266244
-4.18%$0.526718
-0.55%$2.80
-1.21%$0.03069087
0.29%$1,871.19
-3.23%$0.03732192
-4.25%$1,886.45
-1.09%$0.00280936
-5.53%$15.14
-6.94%$1.096
-0.08%$0.245948
-6.14%$0.10589
-4.39%$0.01249501
-4.18%$20.88
-5.92%$0.00322542
-10.06%$0.703322
-3.98%$0.103797
13.83%$0.999768
0.04%$0.908264
-5.16%$1,939.96
-3.09%Reading
An ambitious attempt to create a trustless version of Bitcoin for use on the Ethereum network has failed after just two days. Developer Matt Luongo announced he was pulling the plug on tBTC today on Twitter, adding that he will soon release a post-mortem on what went wrong.
“tBTC lasted on mainnet two days. Alas, it was born before it's time. Goodnight, sweet prince,” tweeted Luongo, adding, “We've pulled the red lever, pausing deposits for the next 10 days, and are helping users drain funds. We'll publish a full post-mortem when confirmed... and we will rise again.”
tBTC lasted on mainnet two days. Alas, it was born before it's time.
Goodnight, sweet prince🌹
We've pulled the red lever, pausing deposits for the next 10 days, and are helping users drain funds. We'll publish a full post-mortem when confirmed... and we will rise again.
— Matt Luongo (@mhluongo) May 18, 2020
Tokenized versions of Bitcoin are ways of bringing the world’s number one cryptocurrency and making it usable on the Ethereum network. The tokenized form of Bitcoin can then be used in decentralized finance apps and within other decentralized apps.
tBTC is one form of tokenized Bitcoin. It uses smart contracts to lock up a certain amount of Bitcoin, and unlock a tokenized version of Bitcoin—of the same amount—on the Ethereum network.
According to data from BTConEthereum.com, a total of 7.13 Bitcoin, or roughly $68,000, is locked up in tBTC at time of writing. This is peanuts compared to the more well-known Wrapped Bitcoin (WBTC) project, which has 2,296 Bitcoin locked up, worth $22 million. But it’s not bad for its first two days.
Unlike Wrapped Bitcoin, tBTC was designed to be more decentralized. While Wrapped Bitcoin depends on several companies in the crypto space to oversee the whole operation, tBTC had no such dependencies. But, by relying fully on smart contracts, its code had to be faultless. And this is likely where things went wrong.
Bitcoin is the world’s first, largest, and most-recognized crypto asset. Since Bitcoin’s creation over a decade ago, the technology behind the revolutionary “peer-to-peer electronic cash system” has largely remained the same. But Bitcoin isn't the be-all and end-all of cryptocurrency. On smart contract blockchains such as Ethereum, developers have created a thriving decentralized finance (DeFi) ecosystem. In order to use Bitcoin within Ethereum's DeFi ecosystem, it's necessary to create an ERC-...
“TL;DR on what happened?” asked Anthony Sassano, product marketing manager at Set Protocol. “Smart contracts are very hard,” replied designer Richard Burton.
Smart contracts are very hard
— Richard Burton (@ricburton) May 18, 2020
Smart contract bugs can have devastating impacts. In one instance, just a few lines of code broke The DAO, an organization built on the blockchain, which hoped to distribute funding to projects. It lost 3.6 million Ethereum, worth $50 million at the time.
And they’re surprisingly common. A report in August 2019 found that 25% of all smart contracts contained serious bugs and 60% of all projects looked at had at least one security issue, according to Bitcoin.com.
With the bug in mind, stopping the tBTC project should reduce the risk of anyone losing money. But that developers were able to stop it raises questions over how decentralized it really was to begin with.
Cryptocurrencies have failed to deliver on their promises, cryptography pioneer Adi Shamir suggested at the RSA Conference in San Francisco, California, on Tuesday. "My personal opinion is that the world would have been better without cryptocurrencies," he told attendees of an expert panel at the conference, per an initial report by The Register. Shamir, co-inventor of the RSA encryption algorithm, was unequivocal about his position. While praising Satoshi Nakamoto's seminal whitepaper on Bitco...
Bitcoin developers are debating a proposal that could fundamentally change what the alpha crypto and network is used for, dividing the community between those who see it as necessary progress and others who fear it threatens Bitcoin's core purpose. At issue is a technical change called "removing OP_RETURN limits." If approved, it would allow people to store much larger amounts of non-financial data directly on the Bitcoin blockchain, for use in things like text and images. The issue Currently, B...
Scroll said Monday it has become the first Ethereum Layer 2 using zero-knowledge proofs to reach a critical development stage, allowing users to post transactions without relying on a central operator. In a post to X, Scroll touted its advances in security, scalability, and decentralization after claiming the project had reached “Stage 1” in its development. “While Scroll has always had a fully functional zk proof system, users previously had to trust the centralized sequencer to avoid censorshi...
