As per Cryptofrontnews, Bedrock has launched Chainlink’s Proof of Reserve Secure Mint to verify BTC reserves on-chain before minting uniBTC, preventing over-minting risks. The integration ensures that the Bedrock BTC vault on Ethereum checks reserve data in real-time before issuing new tokens. This mechanism embeds transparency and verification into the minting process, reducing the risk of unbacked token issuance. The liquid restaking protocol, which holds over USD 530 million in TVL, previously faced an exploit involving uniBTC, prompting the need for stronger verification. The adoption of Chainlink’s Secure Mint is also gaining traction among other protocols like Wenia and 21Shares.
Bedrock Launches Chainlink Proof of Reserve Secure Mint to Enhance BTCFi Security
CryptofrontnewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.