Quote from: Abiky on March 15, 2021, 05:00:10 PM

Quote from: JeffBrad12 on March 12, 2021, 04:04:51 PM

WBTC is different from 0xBitcoin.

0xbitcoin was a crap coin that being created when tokenization for the existing asset in crypto market has become a trend a few years ago. WBTC totally backed by the real bitcoin and that makes the price of WBTC will be 1;1 with bitcoin.

https://coinmarketcap.com/currencies/0xbtc/markets/

https://coinmarketcap.com/currencies/wrapped-bitcoin/
You can check it directly.

Yes, I'm aware. Both Wrapped Bitcoin and OxBitcoin are entirely different from the other. It's like comparing apples vs oranges. What's innovative about 0xBitcoin is the ability to mine coins out of a smart contract right from the ETH blockchain. Most other tokens are either based on the ERC-20 or ERC-721 standards as it's the hype of the moment. Tokens that are mineable (like 0xBitcoin) and stakeable (like PoSToken) are out of the spotlight as people are focused on other projects. With 0xBTC, we get a "better" version of Bitcoin that's both scarce and programmable at the same time. It's an entirely independent crypto asset that's not pegged to Bitcoin itself. Imagine the future of PoW coins being based on smart contracts instead of a separate blockchain network built entirely from scratch. It would revolutionize the industry as we speak.

Nonetheless, it's all about mainstream adoption for a crypto project to succeed in the mainstream world. Despite 0xBitcoin's innovative features, its use cases for the mainstream world are extremely limited. The project's team needs to ramp up marketing/promotion efforts in order to spread awareness of the token. Otherwise, it'll go down the drain faster than you could've ever imagined. At least, the smart contract's code is open for the public. Anyone can choose to improve the existing project or build another one from scratch. Whenever PoW tokens built on the ETH blockchain will be the future of crypto or not, it's yet to be determined. With high gas fees, I don't think this approach won't be going anywhere soon. Just my thoughts Grin

High gas fees are killing/have killed many Dapps, games and so on... DeFi on the Ethereum mainnet is eating everything... this is the reason why we studied 0xbitcoin contract and created BNbitcoin, mined BEP-20 token on Binance Smart Chain: even if if it more centralized (consensus is based on 21 validators) gas fees for mining are acceptable now (0.25/0.30 USD) furthermore we restored the same difficulty adjustment period originally designed by Nakamoto (2 weeks) and max target to 2^224... BSC stress tests have been recently performed when volumes became higher than eth mainnet without increase of gas costs...

BNbitcoin

Posts

Merits