Cybersecurity
Risky New Experiments Attract Billions of Dollars in Bitcoin
- Bitcoin holders seek to earn rewards for their tokens
- Projects like Merlin Chain send Bitcoin to other blockchains
Illustration: Carolina Moscoso
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Billions of dollars worth of Bitcoin are pouring into the type of blockchain projects that historically have been vulnerable to hackers and other security risks.
The allure of the new projects is simple: They allow owners of the original cryptocurrency to earn a passive yield on their holdings, a common attraction for more elaborately designed tokens that came after Bitcoin.