VerifiedX has launched the VFX SwitchBlade wallet, a non-custodial solution enabling Bitcoin tokenization (vBTC) with native on-chain utility, enhanced privacy, and near-zero fees.
The VerifiedX (VFX) Network, which is run by VerifiedX.io, has released the VFX SwitchBlade mainnet non-custodial wallet, which lets Bitcoin work like it should.
The VFX SwitchBlade also allows a “first-mover” fully decentralized and self-custodial Bitcoin Tokenization (Verified Bitcoin) with on-chain native features that make it useful in real life and solve problems that Bitcoiners around the world are having right now.
Verified Bitcoin (vBTC) is a simple text smart contract that lets anyone save, spend, withdraw, borrow, give, mint, and send media and documents. It also lets anyone vault real Bitcoin with on-chain recovery features, so there’s no need for third parties or hardware wallets.
This one-of-a-kind Bitcoin token offers more privacy, almost quick transaction completion, and fees that are almost nonexistent. Any amount of verified Bitcoin tokens can be sent from one person to another, as long as they have a Bitcoin balance and always keep a fully decentralized and non-custodial 1:1 peg.
This means that 1 vBTC will always be equal to 1 BTC, and token owners can withdraw their Bitcoin at any time with a “one-click” multisig move or sell the token itself, in whole or in part, to any market participant.
This positive development will definitely help ease congestion on the Bitcoin network, greatly lower the cost of ownership and transfers for Bitcoin holders, allow media embedding, and greatly boost self-custodial security, instantly making Bitcoin holders‘ lives easier.
It is thought that Verified Bitcoin could also help make more local scarcity possible with Total Value Vaulted (TVV) on VerifiedX Vaults over time.
VerifiedX – VFX (VerifiedX.IO) is the first open-source decentralized network that is both a universal layer 1 and a Bitcoin-specific sidechain. It was created so that people could store and trade digital and real assets with each other using tokens.
