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Add Currency (ckBTC) #549
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ICP recently launched its chain key bitcoin currency ("ckBTC") which uses the threshold signature encryption ICP is built on to directly sign and transact with the bitcoin mainnet; this makes it possible to handle native bitcoin transactions with all the benefits of asynchronous mutability the usual tech stack expects while still conserving bitcoin's virtual immutability and also gaining the benefits of ICP's distributed ledger threshold signature security. More than buzzwords, you can ready up on it here: ckBTC is bitcoin on Web3 and here: What is chain key cryptography? - ICWiki.
In short, a new form of programmable bitcoin that among other things could deprecate the model of bridge connection web3 currently must use; is also a more capable alternative than the lightning network (though it might be possible to integrate them as well).
Note the above data was obtained by directly querying the ckbtc's smart contract. You can do this with the
dfx
sdk, or by following the link above, use theicrc1_metadata
option to directly call the smart contract (it'll return the above svg encoded in base64 as thelogo
key).The text was updated successfully, but these errors were encountered: