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Newsflash: Stablecoin is covered by Bitcoin, Litecoin wants to private transactions

Newsflash: Stablecoin is covered by Bitcoin, Litecoin wants to private transactions

Home News Newsflash: Stablecoin of Bitcoin covered, Litecoin wants to private transactions

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Marcel Knobloch –
01.02.2019

So-called in a price stable crypto-currencies, such as Tether or TrueUSD, also referred to as Stablecoin. There is a new Stablecoin called Wrapped Bitcoin (WBTC), and not by a Fiat-currency such as USD, EUR or JPY is covered.

WBTC is an ERC-20 tokens, which means he is running on the Ethereum Blockchain. Furthermore, this new Token is covered by classic Fiat money, but Bitcoin. WBTC is a joint partnership between the Kyber network, the Republic Protocol and the custodian BitGo. The project berscheibt himself as a crypto-currency that has the stability of Bitcoin and the flexibility of Ethereum.

The CTO of BitGo, Benedict Chan, vegleicht WBTC with Bank notes which can be redeemed for Gold. Bitcoins can be traded using atomic swaps against WBTC. According to the official website of WBTC the user can start Trading as soon as all the KYC – and AML-entered the Details and have been verified.

WBTC is only new on the market and a daily trading volume of 14,000 USD. The price per WBTC is just under $ 3,400, which is roughly equivalent to the current value of a bitcoin. Stablecoins to enjoy in the crypto universe no particularly good reputation. The most discussed most Stablecoin is still Tether.

Litecoin gets private transactions

The founder of Litecoin, Charlie Lee, announced on Twitter that Litecoin is also obtained, such as Monero or ZCash non-traceable transactions. Since the scaling debate from the point of view of Lee is far clarified above, the focus is on the implementation of new Privacy Features.

Lee thinks that Litecoin will be more used, if the sender and receiver in the Blockchain remain hidden. The amount of the available balance of the wallet address is also not visible.

Featured Image: Wit Olszewski | Shutterstock

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