Cryptocurrency Q&A What is the tBTC protocol?

What is the tBTC protocol?

AltcoinExplorer Fri Nov 15 2024 | 5 answers 1343

The tBTC protocol is a technical solution that bridges the gap between Bitcoin and the Ethereum network. It allows Bitcoin to be tokenized and used within the Ethereum ecosystem, enabling various transactions and DeFi applications. The protocol utilizes a decentralized network of signers to mint tBTC, which is backed 1:1 by Bitcoin and can be redeemed for the underlying BTC at any time. What is the tBTC protocol?

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