What's $zkBTC?
What is $zkBTC?
$zkBTC is an innovative ERC-20 token that represents Bitcoin on the Ethereum blockchain, backed 1:1 with Bitcoin.
zkBTC aims to bring Bitcoin's reliability and market strength to Ethereum’s versatile DeFi ecosystem, making it easier for users to participate in Ethereum-based decentralized finance while still holding an asset tied to Bitcoin’s value.
Key Features of $zkBTC
Fully Decentralization: zkBTC is powered by a decentralized cross-chain bridge built with zero-knowledge proof (ZKP) technology. This bridge ensures secure and trustless transactions between Bitcoin and Ethereum.
1:1 Backed:Each zkBTC token is minted through a cross-chain process and is guaranteed by a corresponding real Bitcoin, providing security and stability for all holders.
Interoperability: zkBTC provides users with a seamless way to utilize Bitcoin on Ethereum, enabling BTC holders to explore DeFi without selling their bitcoin assets.
Security: The security provided by cryptography and Zero-Knowledge Proofs (ZKPs) guarantees a 1:1 peg, effectively eliminating the risk of depegging and greatly enhancing overall security.
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