How does eBTC work? Where is whitepaper? eBTC's creators have very good sense of humor not even trying to create whitepaper about main features and how do they work.
As for my research eBTC is an ERC20 token, it performs on the ethereum blockchain. We will have lower transaction fees, lower blocktime and no possible SegWit2x Hardfork plus there was no ICO. All Tokens got distributed in an airdrop on all participating ethereum addresses. I Think this was a great move to get some real decentralization for this Coin because there are no real whales. Eventhough this Coin only exists a week ago.