Threshold Network announced this week that it has completed a multi-year effort to upgrade its Bitcoin-to-DeFi bridge tBTC from its original structure and security model launched in 2020. Specifically, the protocol added redemption capability – that is, the ability for customers to not only put their bitcoin in escrow and mint tBTC (an ERC-20 token) but also reverse the process and “unmint” back to BTC. This is the latest in a string of Threshold announcements beginning in January with tBTC minting, an integration with interoperability protocol Wormhole in May and four subsequent partner launch announcements, three involving Ethereum “Layer 2” (L2) scaling juggernauts Polygon, Arbitrum and Optimism. The reason given…
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Multi-Signature Ethereum Wallets Explained
Benefits include enhanced security, control and flexibility
Security is essential in the brave new world of cryptocurrency. It is crucial to safeguard digital assets from possible dangers and weaknesses, as along with the myriad benefits crypto offers, each owner takes on a large, and often quite challenging, responsibility in the absence of a company or entity to turn to for support. Not to mention that there is generally zero opportunity for restitution in the case of user error or malfeasance. The phrase “not your keys, not your coins” has long meant both that if you allow an entity to hold your crypto-assets they have ultimate control over them, as well as that the assets are truly in…
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Avalanche: The Ethereum Alternative
Cheaper and faster transactions make this programmable network very appealing
Why Avalanche? Avalanche is one of the fastest growing networks in crypto. The network, which is powered by the AVAX coin, is more scalable and efficient than Ethereum. Avalanche is a type of network that is referred to as an “Ethereum Killer”. Ethereum is the second largest network in crypto, with a market cap of over $300 billion, second only to Bitcoin. Ethereum is a layer 1 blockchain, meaning other projects can be built on top of it. People have built games, DeFi swaps, and even other blockchains by using the Ethereum network. Ethereum has been around since 2015, so with seven years in the crypto space, the network has…
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NFTs are Overhyped
Why the vast majority of NFT projects are a complete waste of money
What is an NFT and why do they matter? NFT is a term that has been appearing all over social media and the news in the last few months. An NFT is a Non-fungible token, stored on a blockchain, which is essentially a digital ledger. NFTs function similarly to a cryptocurrency like Ethereum or Bitcoin. The major difference between interchangeable tokens like Ethereum and an NFT is that each NFT is uniquely different, hence the word non-fungible. An NFT can be a digital picture, song, file, and much more. Ownership of an NFT does not confer copyright or the ability to use legal action. Instead, it is more of a…
