Could dlcBTC Resolve the Issues With Wrapped Bitcoin? - Ep. 690

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 16 August 2024

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode, Aki Balogh, CEO of dlcBTC, explores how Discreet Log Contracts (DLC) can change how 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 various blockchain ecosystems. Show highlights: 00:00 Intro 01:48 Aki’s background and how he got into crypto 04:14 What Discreet Log Contracts (DLC) are and why they are relevant for Bitcoin 07:56 How dlcBTC leverages these types of contracts to build a self-sovereign Wrapped Bitcoin and the differences with the current WBTC 15:41 Aki’s reaction to the news that WBTC will soon be handled by a joint venture between BitGo, Justin Sun and the Tron ecosystem 19:27 The role of attesters in making dlcBTC secure 23:26 How redemptions work in this kind of setup 27:31 Whether dlcBTC is more decentralized than WBTC 28:15 How many attesters the protocol should have to make it more safe and secure 30:05 How dlcBTC, the company, makes money with this product 31:11 Whether dlcBTC will be used in Bitcoin L2s, not just in the Ethereum ecosystem 34:47 What the future plans are for dlcBTC Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! iTrustCapital Polkadot Token 2049 Guest Aki Balogh, CEO of dlcBTC. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey all, if you're a listener in Seoul, South Korea, I will be doing a book event there for the
0:04.9	Korean translation of my book, which in Korean is titled, Etheium billionaires.
0:10.0	It's on August 19th at 7 PM at Chemistry, spelled K-E-E-M-I-S-T-R-I in Gangnam. You can go to the pinned post on my
0:18.4	Twitter profile to RSVP at the Luma link and there's also a link to buy the book for 10% off at Kiobo Book, and we will also have books there for you to buy at 20% off at the event.
0:28.8	Come and ask me a question or get your book signed or just hang out with other crypto people in Seoul.
0:34.0	Again, for all the details and to RSVP at the Luma link, check out the pinned post on my Twitter
0:40.0	and we will also be putting the link in the newsletter starting next week.
0:43.3	Hope to see you then. And it's done great. But everybody who uses W.BTC, the traders who trade it,
0:50.3	the retail who holds it, everybody knows that it has sort of one kind of design flaw.
0:56.0	Hey everyone, Laura here. We've recorded this show in advance since I was headed out on
1:00.5	vacation and of course afterward news regarding WTC broke that's
1:05.3	highly relevant to the show I did manage to get a written answer from Acky about
1:09.4	the news which we were able to insert ahead of publication.
1:12.8	So just FYI, the news about WBCC
1:15.4	is not referenced to anywhere else except in that part of the recording.
1:19.2	And now on to the show. Hi everyone, welcome my Unchained, you know hate resource for all things
1:28.4	crypto.
1:29.4	I'm your host Laura Shin, author of the cryptopians. I started coming crypto nine years ago and as the senior
1:34.7	editor of Forbes was the first main-train reporter sick of a cryptocurrency full-time.
1:38.2	This is the August 16th 2024 episode of Unchained. With I-Trust Capital you can buy and sell
1:44.5	crypto in a tax advantage retirement account. Enjoy significant tax
1:48.3	advantages 24-7 access and the industry's lowest fees.
	...

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