Now.eth claims to send Bitcoin via Ethereum network

Now eth claims to send Bitcoin via Ethereum network

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Can you send Bitcoin via Ethereum network? Well, that sounds pretty contrasting but could soon be a reality. The famed ETH development team called Now.eth is working on a solution that will allow users to send Bitcoin via the Ethereum network. Bitcoin payments can be processed using an Ethereum-based network.

Wrapped BTC allows users to send Bitcoin via Ethereum network

Now.eth team has reported that their new system can send BTC without using the attached BTC address in the Bitcoin network. This is unlike anything the crypto realm has seen so far. The team is pretty anonymous. Their only modes of communication are social channels like Discord, Twitter and Substack. There is no official website for the now.eth group.

This new method to send Bitcoin via Ethereum network begins with the conventional technique. BTC starts its transactional journey using the BIP20 protocol which is the traditional mechanism that sets the URL for every Bitcoin user. However, the next step is to move into the Ethereum Name System map and finally, it lands in the user’s kitty through the ‘InterPlanetary File System.’ This transaction system is new and can turn revolutionary considering that it promotes inter-cryptocurrency dependency.

The newly discovered mechanism can allow users to send Bitcoin via Ethereum network without any BTC address worries and employing fully decentralized protocols from two different cryptocurrencies.

A whole new way to blockchain?

The new way to send Bitcoin via Ethereum network will redefine the way blockchain is perceived today. The developers have mentioned the legendary Bitcoin developers, including Gavin Anderson and a top BTC enthusiast Andreas Antonopoulos. Both have a strong fan base in the crypto ecosystem. However, none of these celebrities have publicly endorsed the claim to send Bitcoin via Ethereum.

The team at Now.eth has been active in the crypto realm for three months now. They primarily work in wrapping, dapping, and instant exchange solutions.

Featured Image by Pixabay

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Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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