Could dlcBTC Resolve the Issues With Wrapped Bitcoin? - Ep. 690
In this episode, Aki Balogh, CEO of dlcBTC, explores how Discreet Log Contracts (DLC) can change how Bitcoin works in DeFi by creating a self-sovereign Wrapped Bitcoin. He delves into the mechanics of dlcBTC, its security features, and how it aims to be more decentralized than existing Wrapped Bitcoin solutions like WBTC. Aki also shares future plans for dlcBTC, including integration with Bitcoin Layer 2 solutions and expansion to various blockchain ecosystems. Show highlights: 00:00 Intro 01:48 Aki’s background and how he got into crypto 04:14 What Discreet Log Contracts (DLC) are and why they are relevant for Bitcoin 07:56 How dlcBTC leverages these types of contracts to build a self-sovereign Wrapped Bitcoin and the differences with the current WBTC 15:41 Aki’s reaction to the news that WBTC will soon be handled by a joint venture between BitGo, Justin Sun and the Tron ecosystem 19:27 The role of attesters in making dlcBTC secure 23:26 How redemptions work in this kind of setup 27:31 Whether dlcBTC is more decentralized than WBTC 28:15 How many attesters the protocol should have to make it more safe and secure 30:05 How dlcBTC, the company, makes money with this product 31:11 Whether dlcBTC will be used in Bitcoin L2s, not just in the Ethereum ecosystem 34:47 What the future plans are for dlcBTC Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! iTrustCapital Polkadot Token 2049 Guest Aki Balogh, CEO of dlcBTC. Learn more about your ad choices. Visit megaphone.fm/adchoices