Meet tBTC, a decentralized, redeemable, BTC-backed ERC-20 token that gives Bitcoin users access to financial services on other chains.

"In this Wyre podcast, Matt Luongo and James Prestwich explain the technical and economic guarantees of tBTC and offer a high-level overview of the system’s functionality, including how tBTC is minted and redeemed.

They go on to cover how tBTC signing groups are selected and how the system ensures they are behaving honestly, discussing how the network handles aborts versus fraud and its backup auction mechanism for sourcing liquidity when slashing conditions happen. They also explain their decision to launch with an authority-based price feed mechanism and later transition to a federation-based one. Listen in for insight around what the success of tBTC might mean for Ethereum and learn how Cross-Chain Group is working to further interoperability via collaboration and development in the crypto space."

Enjoy this great discussion, and come ask us questions in Slack! https://bit.ly/2FMkV6T

https://wyre-talks.simplecast.com/episodes/ep-47-announcing-tbtc-with-james-prestwich-and-matt-luongo-of-cross-chain-group