Title: Bitcoin, everywhere. Powered by Threshold & Wormhole • Twitter Space May 12, 2023 Recording

Description:

tBTC is Taking Bitcoin Cross-Chain with Wormhole

Read the Coindesk exclusive article announcing the tBTC integration with Wormhole: https://www.coindesk.com/tech/2023/05/11/threshold-network-goes-live-with-wormhole-to-bridge-bitcoin-to-20-blockchains/

Read the Threshold blog about the Wormhole integration with tBTC: https://blog.threshold.network/tbtc-is-taking-bitcoin-cross-chain-integration-of-wormhole-will-enable-deployment-on-20-side-chains-catalyze-bridging-of-750m-in-value-across-defi/

Bitcoin, everywhere. Powered by Threshold & Wormhole • Twitter Space May 12, 2023 Recording

Summary of Twitter Space:

This was a panel style conversation hosted by Threshold DAO members and featuring Matt Luongo, MacLane Wilkison, Brian Mahoney, Anthony Ramirez, and Dan Reecer.

They discuss the development and evolution of tBTC (decentralized wrapped Bitcoin) and the newly announced integration with the Wormhole protocol. The Wormhole integration allows tBTC - the decentralized, permissionless, and scalable Bitcoin equivalent that allows users to access the Ethereum and cross-chain DeFi ecosystem – to be transferred to both Ethereum Virtual Machine (EVM) chains (e.g. Arbitrum, Optimism, and Polygon), and non-EVM chains (e.g. Solana, Aptos, Sui, and Cosmos).

The conversation highlights the challenges faced in bridging Bitcoin to other blockchain networks like Ethereum and the need for decentralized custody solutions.

The development of tBTC began in 2019, with the first version launched in 2020 on the Keep Network. The goal was to create a system where Bitcoin could be deposited onto Ethereum, and Ethereum stakers would provide collateral in Ether to cover the Bitcoin deposits.