Current Challenges

Describes the current challenges in the Ethereum ecosystem.

  • While Bitcoin makes up 40-60% of the crypto market, the smart contracts dominate Decentralized Exchanges (DEXs), digital swaps, derivatives, and micro banking applications.

  • Lack of a proper permissionless and decentralized bridge to transfer Bitcoin value to Ethereum/Matic DeFi has still resulted in over 14B to be transferred as of Oct 2021 either manually or with existing methods that are not suitable for institutional usage.

  • The centralized exchanges and systems exponentially increase counterparty risk of theft or loss and an inefficient transfer of value resulting in price slippage.

  • Institutions entering the market demand higher standards of custody for their Bitcoin

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