Is your cross-chain bitcoin secure? What does “wrapping” bitcoin even mean anyway?
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Matt Luongo from Thesis helps us “wrap” our heads around what it means to take your bitcoin cross-chain. What are the trust assumptions? What are the differences between different wrapped Bitcoin products? Is there any “funny business” going on?
Notes:
• New users are coming to ETFs
• Microstrategy vs cross-chain Bitcoin
• TVL mirroring
• BitGo’s Wrapped Bitcoin vs other wrapped Bitcoin
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Chapters:
00:00 Introduction
02:03 What is Wrapped Bitcoin
05:12 Bitcoin Layers and Bridging
10:30 Trust Assumptions in Wrapped Bitcoin
14:14 Proof of Reserves vs. Solvency
19:02 The Scale of Wrapped Bitcoin
25:12 Soft Forks and Bitcoin’s Future
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