BTC Proxy
Current Challenges
Describes the current challenges in the Ethereum ecosystem.
    While Bitcoin makes up 40-60% of the crypto market, the smart contracts dominate Decentralized Exchanges (DEXs), digital swaps, derivatives, and micro banking applications.
    Lack of a proper permissionless and decentralized bridge to transfer Bitcoin value to Ethereum/Matic DeFi has still resulted in over 14B to be transferred as of Oct 2021 either manually or with existing methods that are not suitable for institutional usage.
    The centralized exchanges and systems exponentially increase counterparty risk of theft or loss and an inefficient transfer of value resulting in price slippage.
    Institutions entering the market demand higher standards of custody for their Bitcoin
Last modified 1d ago
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