Yes and no. eBTC is a tokenized version of Bitcoin on the Ethereum blockchain and therefore uniquely complements both. It is like implementing Bitcoin’s attributes on the Ethreum Blockchain but with a smarter and faster outlook. Unlike Bitcoin’s ever-increasing price and volatility continuously marring its ability to be used as an efficient and affordable medium of exchange, eBTC’s core value comes from it being a faster, cheaper and more sustainable medium of exchange, and its ability to marry with the Ethereum smart contracts.
Check here to understand if eBTC can be traded using bitcoin era software.
Ethereum is not a currency but a platform and ether supports its overall infrastructure. It was never meant to be a currency whereas eBTC, in its purest sense, is just an everyday-usable currency i.e. medium of faster and cheaper exchange and store of value.
Further, with the ever-booming and volatile Bitcoin prices, it strictly isn’t a purely digital currency anymore but just a store of value or what they call: digital gold. Bitcoin’s role as an everyday-usable currency continues to be less sustainable whereas, if eBTC is ever mainstreamed, it could easily become a medium of exchange, a measure of value and a store of value with all the benefits of the Ethereum ecosystem.
The secret lies in the simplicity of this whole idea.
