Over the past few years, we have seen many altcoins come and go. Throughout 2017, it became apparent that most ERC20 tokens were the new altcoins. As such, we have seen mixed attempts to clearly mix the best of both Bitcoin and Ethereum in one package. EtherBTC is the latest such project, nonetheless it stays to be seen if there is even a chance it will succeed. The airdrop of this new token will occur next month.
EtherBTC is Another Hybrid Cryptocurrency
Even though Bitcoin and Ethereum are two very different cryptocurrencies, most people acknowledge they both have engaging facilities to offer. Unfortunately, there is no banking which clearly combines the best of both worlds right now, but that can be changed comparatively easily. That is what the EtherBTC group wants everybody to believe, anyway, as their new ERC20 token will have traits found in both Bitcoin and Ethereum. It’s an desirous goal, nonetheless it’s not the first time someone has attempted to offer such a hybrid cryptocurrency.
To put this into perspective, EtherBTC is not a security, distinct most other ERC20 tokens in existence today. The group wants to position this hybrid origination as a decentralized and peer-to-peer banking identical to how Bitcoin, Ethereum, and Litecoin operate. With a limit supply of 21 million ETHB, it also seems to follow Bitcoin’s distribution model. We have seen a few other projects slap on a few additional zeros to their supply, but nothing have gained any poignant traction whatsoever.
As one would expect, the EtherBTC banking will make use of the Ethereum blockchain, rather than Bitcoin’s. This was a unwavering decision, as the group is assured that Ethereum’s speed and affordability will trump Bitcoin’s blockchain for quite some time to come. Only time will tell if that is the case, as Ethereum’s gas prices have seen some acceleration in the past few months as well. Moreover, the network can easily get congested, just like Bitcoin’s. For now, Ethereum is better than Bitcoin in this regard, but the situation could always change.
Other than that, there is very little which sets EtherBTC detached from any other ERC20 token in existence today. The developers have not suggested too much information about their destiny skeleton right now, nonetheless the plan has a whitepaper which is value checking out. We do know the banking will be partially distributed on Feb 14 to all Ethereum holders with a current balance. However, there is some work concerned before people will actually get their ETHB.
More specifically, users will need to contention a form, endorse their email address, and correlate on amicable media to widespread the word about EtherBTC. Although nothing of these tasks are very demanding, it stays to be seen if most users will go to such lengths just to get a few giveaway coins. Until we know either or not anyone will even charge value to ETHB, it is puzzled there will be much seductiveness in this airdrop.
As is customarily the box with new currencies, there aren’t too many exchanges which will support this one right now. Only EtherDelta has been confirmed, especially because it will concede any ERC20 token to be traded on its platform. It will be engaging to see how other exchanges respond to this new currency. After all, we have seen so many hard forks and airdrops recently, it is formidable for cryptocurrency exchanges to keep tabs on all these days.
Article source: https://themerkle.com/what-is-etherbtc/