Friday, February 3, 2023

$1B in Wrapped Bitcoin now being audited using Chainlink’s ‘Proof of Reserve’ By Cointelegraph


$1B in Wrapped Bitcoin now being audited using Chainlink’s ‘Proof of Reserve’

Wrapped custodian BitGo has adopted Chainlink’s Proof of Reserve mechanism in order to boost the transparency and auditability of the tokenized asset for DeFi protocols.

The functionality, which is currently live on testnet, enables Ethereum-based dApps to completely automate the burden of auditing wBTC. The move comes as the amount of Wrapped Bitcoin on approaches $1 billion in value, or the equivalent of over 92,500 BTC.

Continue Reading on Coin Telegraph

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