eBTC, eBitcoin or Ethereum’s Bitcoin is an ERC20 tokenized version of Bitcoin on the Ethereum Blockchain. It proposes to solve the transaction cost, speed, scalability and smart-contract-inefficacy concerns of the original Bitcoin blockchain by using Ethereum’s more efficient, scalable and interoperable blockchain layer. Supported by a diverse, dynamic and committed global community, eBTC intends to become a more affordable, faster and more flexible peer-to-peer electronic cash and payment system. It intends to do so by retaining the core ideals of Bitcoin and integrating them with Ethereum’s ecosystem. The year 2017 witnessed the emergence of multiple Bitcoin forks all trying to solve one or more of its existing concerns:low transaction speed, high transaction costs and centralized mining. Yet, none of the forks currently has the capacity to effectively solve all these issues. In contrast, eBTC’s apparent and strangely simple design allows it to efficiently address these challenges while also adding smart-contract capabilities to Bitcoin’s core ideals. With increasing awareness and acceptance, eBTC plans to become a truly global, fast, cost-effective and fully decentralized payment processing mechanism while continuing to integrate all the future developments in Ethereum’s abstract foundational layer. In doing so, eBTC would represent Bitcoin’s original core values, as a sustainable means of electronic payment and store of value, while bringing the needed modernization to Bitcoin using the Ethereum’s diverse ecosystem and enabling the implementation of all the available use-cases of a globally-accepted payment system into eBTC.
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