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DLC.Link news
About DLC.Link
What Is dlcBTC (DLCBTC)?
dlcBTC is a non-custodial representation of Bitcoin on the Ethereum blockchain, developed by DLC.Link. Officially launched in February 2024, dlcBTC enables Bitcoin holders to engage in decentralized finance (DeFi) activities on Ethereum without giving up ownership of their assets. This trust-minimized bridge utilizes Discreet Log Contracts (DLCs) for secure and private transactions between Bitcoin and Ethereum DeFi protocols.
dlcBTC serves several functions:
Allows Bitcoin holders to use their BTC as collateral on Ethereum-based DeFi platforms such as AAVE and Curve.
Ensures that Bitcoin can be used in DeFi without the risks associated with centralized custody.
How Does dlcBTC Work?
Users lock their Bitcoin into a DLC using DLC.Link's self-wrapped bridge technology. This action mints dlcBTC tokens equivalent to the locked BTC amount. Each DLC functions as a secure lockbox, governed by a contract on the Bitcoin blockchain that includes a pre-signed agreement between the user and the protocol. Users hold one key to the multisig UTXO, while the second key is distributed among attestor nodes, ensuring that the DLC can only be liquidated back to the original user, thus preventing theft or loss.
Who Are the Founders of dlcBTC?
DLC.Link, the entity behind dlcBTC, was co-founded by a team based in Brooklyn, NYC, with expertise in blockchain technology and cybersecurity. The founders aimed to address the vulnerabilities associated with custodial and bridge solutions, which have historically led to significant asset losses.
How Many dlcBTC Coins Are There in Circulation?
The supply of dlcBTC tokens is directly tied to the quantity of BTC locked using DLC.Link’s bridge technology. As Bitcoin is locked into DLCs, dlcBTC tokens are minted on a 1:1 basis, ensuring that each token is always backed by a corresponding amount of locked Bitcoin.
How Is the dlcBTC Network Secured?
The dlcBTC network is secured through the robust security features of both the Bitcoin and Ethereum blockchains, complemented by the private, secure transactions enabled by Discreet Log Contracts. The decentralized distribution of keys among attestor nodes further enhances security by protecting against unauthorized access and eliminating single points of failure.
Where Can You Buy dlcBTC (DLCBTC)?
dlcBTC tokens can be obtained by locking BTC into the DLC.Link bridge. These tokens are also available for trading on various cryptocurrency exchanges that support Ethereum-based assets. dlcBTC provides a secure and user-friendly way for Bitcoin holders to integrate into Ethereum's DeFi ecosystem without compromising the ownership of their assets.
Attestor Layer of dlcBTC
The attestor layer comprises seven trusted node operators who support the bridge by facilitating reliable cross-chain communication. This layer is critical for maintaining the security and integrity of the bridge without controlling users’ keys.
The live DLC.Link price today is $59,926.05 USD with a 24-hour trading volume of $35,595.62 USD. We update our DLCBTC to USD price in real-time. DLC.Link is down 0.72% in the last 24 hours. The current CoinMarketCap ranking is #4100, with a live market cap of not available. The circulating supply is not available and a max. supply of 21,000,000 DLCBTC coins.
If you would like to know where to buy DLC.Link at the current rate, the top cryptocurrency exchanges for trading in DLC.Link stock are currently Uniswap v3 (Arbitrum), and Curve (Arbitrum). You can find others listed on our crypto exchanges page.