BTC XFlows launches on Bitcoin, Avalanche, BNB Chain and Wanchain

TL;DR Wanchain launches BTC XFlows. Native-to-native BTC cross-chain transformations are now live on Avalanche, Bitcoin, BNB Chain and Wanchain!

Launched anonymously in 2009, BTC is the world’s most popular cryptocurrency. On its surface, Bitcoin enables peer-to-peer exchange of digital value by leveraging an innovative decentralised protocol, cutting-edge cryptography, and a revolutionary mechanism to achieve global consensus. At a deeper level, Bitcoin represents a significant cultural and philosophical shift that challenges traditional institutions and their role in society.

While the invention of Bitcoin has wide-ranging ramifications, perhaps the most significant was the emergence of other feature-rich blockchain networks. Leading the charge was Ethereum, which introduced smart contracts and, consequently, decentralised finance (DeFi). Naturally, users needed a way to use their BTC in these new DeFi ecosystems. This prompted the invention of wrapped assets, which are tokens pegged to and backed by an underlying asset. Today, there are several notable wrapped BTC. Unfortunately, these different wrapped BTC are incompatible with one another and there is no secure, decentralised mechanism to move from one to another. Until now.

It is with great pleasure that Wanchain, the global leader for blockchain interoperability solutions, announced that is has expanded its XFlows product to support BTC transformations between Bitcoin, Avalanche, BNB Chain and Wanchain!

What is BTC XFlows?

BTC XFlows is a decentralised cross-chain solution that enables native-to-native cross-chain transformations between BTC on Bitcoin and many of the most popular BTC-backed assets including BTC.b on Avalanche, BTCB on BNB Chain and wanBTC on Wanchain.

About BTC on Avalanche, BNB Chain and Wanchain.

Avalanche, BNB Chain and Wanchain are all EVM-compatible Layer 1 networks. Each has vibrant DeFi ecosystems where a dominant BTC-backed asset has emerged. BTB.b is minted by the official Avalanche Bridge on Avalanche C-Chain. BTCB is minted by Binance on the BNB Chain. wanBTC is minted by the Wanchain Bridge on Wanchain. All three are all fully backed by BTC on Bitcoin.

What routes are currently available for BTC XFlows?

BTC XFlows is currently supported by direct bridges connecting Avalanche, Bitcoin, BNB Chain and Wanchain. The specific routes are:

BTC addresses

• Avalanche (BTC.b)
• Bitcoin (N/A)
• BNB Chain (BTCB)
• Wanchain (wanBTC)

About Wanchain

We are all connected — Wanchain, the Wide Area Network chain, is the world’s premier decentralised blockchain interoperability solution. Our mission is to drive blockchain adoption through interoperability by building fully decentralised bridges that connect the world’s many siloed blockchain networks. This crosschain infrastructure empowers developers to build truly decentralised crosschain applications to power the future of Web3.

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