Bitcoin-Ethereum Hybrid eBTC - New "Tokenized Bitcoin" Creates Hype

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Bitcoin is the first cryptocurrency - the original, the most popular and most used cryptocurrency in the world.
When Bitcoin was first created by the anonymous Satoshi Nakamoto in 2009, no one knew how this currency and its underlying blockchain technology could change the world.

Then, in 2014, Ethereum was created by Vitalik Buterin and changed the game.
It quickly rose in popularity, becoming the 2nd most used cryptocurrency of the world.
Especially this year, during the ICO hype, Ethereum has experienced a big step towards mass adaption.

But have you ever thought of a hybrid between Bitcoin and Ethereum?

This is eBTC - a "tokenized" Version of Bitcoin on the Ethereum Blockchain!

What is eBTC ?

eBTC is a cryptocurrency that was only launched this monday.
It's an ERC20 tokenized copy of Bitcoin - mimicking Bitcoin's characteristics with its supply of 21 million tokens.
eBTC was airdropped just a few days ago at a price of $0.03 per token.

It rose up to $0,80 representing an increase of over 2200% - before dropping back down to around $0,40 where it's at now.

For those who didn't sign up prior and received tokens for free, they can now be bought and traded at the decentralized Ethereum Exchange EtherDelta.com.

I believe that eBTC, with adoption, could be a real asset for Ethereum. It will not only boost Ethereum’s recognition in the crypto-currency community but also in the eyes of the public, while also providing a way to utilize Ethereum’s vast capabilities with a token which is representative of Bitcoin. (...) eBTC is a simple token with a simple goal. To complement and work in tandem with Bitcoin, providing a way to use a Bitcoin related asset within the Ethereum ecosystem.
-"Satoshi 21", creator of eBTC

Benefits of eBTC - compared to Bitcoin

So why should there be a new Ethereum-based copy of Bitcoin? What are the differences / benefits ?!

1 - Smart Contracts

One of the biggest features of the Ethereum blockchain is to create smart contracts.
These are digital contracts that provide security and transparency, and one of the reasons why Ethereum is so popular for ICOs.
With eBTC being an ERC20 token, it also works with smart contracts - Bitcoin on the other hand doesn't support smart contract integration.

2 - Speed

Even though the Bitcoin network has recently been scaled to increase the transaction speed, the average block time is still about 8 minutes. On Ethereum on the other hand, it's only 24 seconds - meaning that eBTC transactions will be credited much faster than regular BTC transactions.

3 - Fees

eBTC also aims to be cheaper to use than Bitcoin.
While the average fee for a Bitcoin transaction can be anywhere between $2 and $5, Ethereum fees normally don't rise above $0,50.

Bitcoin has issues with high transaction fees and slow block times, ERC20 tokens don't have these issues and also have smart contract capability. Secondly, there is currently no widely accepted tokenized version of Bitcoin on Ethereum which is pretty surprising. Thirdly, as eBTC grows it will display Ethereum's capabilities and strengthen it's stance among crypto-currencies.

Future Outlook

Despite the hype and the meteoric rise, it's important to keep a realistic overview over the eBTC token.
Right now, it's difficult to determine how the currency will develop in the future.
There are a few things that make eBTC seem like more of a short-term success than a project with large future potential:

The website is quite spartanic and doesn't provide a lot of information.
The project doesn't even have a whitepaper.
The token hasn't been adapted by major exchange platforms yet.

Of course, all of these things might change and it could be the case that the creator was simply overwhelmed by the sudden huge popularity of eBTC.
But other satirical coins like the Useless Ethereum Token (UET) have already shown how ERC20 enthusiasts sometimes invest in any project without doing proper research.

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