To start with, thanks to the guy with the nickname "pantsme" on DuneAnalytics for that beautiful Dashboard.
This Steemit post is the simile of wBTC, hBTC, pBTC, renBTC, imBTC, and tBTC. I will not dig too deep and overload you with the information, but will provide you the necessary info in the most laconic way possible.
tBTC - developed by Keep Project team, Summa, and Cross-chain Group. TBTC is 1 to 1 pegged to the BTC (supply-pegged asset). Application allowing users to exchange BTC into tBTC has been launched, but due to some technical issues it was put on hold. Bitcoins are held by the Signers - entities with the 100,000 KEEP-tokens staked. The maximum lot-size is 1 BTC. Depositing addresses are generated by randomly selected Signers, in a group of 3. Signers are obligated for 150% collateralization, meaning for 1 BTC they secure, they should have the equivalent of 1.5 BTC bonded in ETH tokens.
pBTC - developed by PTokens, at the moment of editing this article, pBTC has a total value of about 48 Bitcoins at the current exchange rate. Pegg rate is 1:1 every 1 pBTC token could be redeemed for 1 BTC.
The network is operated by the Smart Contract, Validators and MultiSig wallet. At the moment, the network if functioning, but only with 1 validator. Developers are planning to implement the decentralization after the additional testing.
wBTC (Wrapped Bitcoin) - governed by the consortium (DAO) which determines the Merchants (3rd parties with the exchange-interface), and Custodians (only 1 available - BitGo). The first successful project of this kind. wBTC is represented by the largest market share (> 75%). Current circulating supply is ~ 35k of Bitcoins. Pegged 1 to 1. No upper limits for tokenization, but the KYC process is required to start the exchange.
renBTC - the token of renVM of REN Project. The second most-used project of this kind. 100 Darknodes (the entities who staked 100,000+ REN tokens) are randomly selected to create the Bitcoin wallet and multi-sign it. Bonded at 3 to 1 ratio, meaning that for every 1BTC they secure, they should have 3 BTC worth of REN tokens. Project using fixed hard-peg 1:1.
sBTC (Soft Bitcoin). Peg is not fixed, it is called "Soft Peg", meaning that the sBTC could be traded inside the band. When significant de-coupling from the target price of 0.0001 happens, the project introduces the monetary policies, reducing or increasing the supply. So this project is the only project aiming to have a fixed peg on the price of Bitcoin, in other words - it is not supply-pegged.
