tBTC, the open-source project that allows people to use Bitcoin safely in Ethereum DeFi apps, is live and ready to be used. A project of Keep, Summa and the Cross-Chain Group, tBTC lets people exchange BTC for TBTC, an ERC-20 token that can be used on DeFi platforms, at a rate of 1:1. Each TBTC token is fully backed and matched by at least 1 BTC held in reserve. tBTC is trustless, using a random beacon to select "signers" who have responsibility for the deposited BTC. People can convert TBTC to BTC, and vice-versa with no intermediary needed to sign off.
tBTC, the open-source project that allows people to use Bitcoin safely in Ethereum DeFi apps, is live and ready to be used. A project of Keep, Summa and the Cross-Chain Group, tBTC lets people exchange BTC for TBTC, an ERC-20 token that can be used on DeFi platforms, at a rate of 1:1. Each TBTC token is fully backed and matched by at least 1 BTC held in reserve. tBTC is trustless, using a random beacon to select "signers" who have responsibility for the deposited BTC. People can convert TBTC to BTC, and vice-versa with no intermediary needed to sign off.
