Post
Topic
Board Trading Discussion
Merits 1 from 1 user
Re: Is it possible to bridge BTC onchain to ETH ?
by
stompix
on 09/09/2023, 19:37:47 UTC
⭐ Merited by hugeblack (1)
Does such as service exist? I recall there was one that was called RennBTC (or something similar) however due to FTX collapse they got shut down. I recall it was possible to take Bitcoin on the bitcoin blockchain and bridge it to WBTC which was on the Ethereum blockchain.

Both RenBTC and Wrapped Bitcoin (WBTC) do the same thing, they basically lock your BTC and issue you a token on the ETH chain, it's NOT a real bridge, there is no real peg between those, if BitGo goes down everything goes with them, including the reAl BTC a the fake WBTC.
A real bridge is not currently possible and I pretty much doubt it will ever be unless both chain devs come to a mutual understanding, otherwise, the only true options are in the second layers on BTC like liquid or RSK