Given the many discussions about the risks of Wrapped Bitcoin (WBTC), the question arises whether this project can establish itself as a new alternative.

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In this episode, Aki Balogh, CEO of dlcBTC, explores how Discreet Log Contracts (DLC) can change the way Bitcoin works in DeFi by creating a self-sovereign wrapped Bitcoin. He delves into the mechanics of dlcBTC, its security features, and how it aims to be more decentralized than existing wrapped Bitcoin solutions like WBTC. Aki also shares future plans for dlcBTC, including integration with Bitcoin Layer 2 solutions and expansion to different blockchain ecosystems.

Highlights of the show:

• Aki’s background and how he got into the crypto world
• What Discreet Log Contracts (DLC) are and why they are relevant to Bitcoin
• How dlcBTC uses this type of contract to build a self-sovereign Wrapped Bitcoin and the differences to the current WBTC
• Aki’s reaction to the news that WBTC will soon be settled by a joint venture between BitGo, Justin Sun and the Tron ecosystem
• The role of attestors in securing dlcBTC
• How redemptions work in this type of setup
• Whether dlcBTC is more decentralized than WBTC
• How many attestors should the protocol have to make it more secure?
• How dlcBTC company makes money with this product
• Whether dlcBTC will be used in Bitcoin L2s, not just in the Ethereum ecosystem
• What are the future plans for dlcBTC

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EPISODE TRANSCRIPT

Guest