Internet Computer officially releases Chain-Key Bitcoin for faster and cheaper Bitcoin transactions

ChainCatcher news, the Dfinity Foundation announced that the Internet Computer (ICP) has officially issued Chain-Key Bitcoin (ckBTC), stating that this token offers higher security compared to existing cross-chain or wrapped solutions. It is a highly liquid and cost-effective "twin" token that brings Layer 2 functionality to Bitcoin, allowing for faster and cheaper transactions without compromising security.

It is reported that ICP integrated with the Bitcoin network and launched ckBTC in November 2022. ICP stated that ckBTC corresponds to Bitcoin on a 1:1 basis and is issued and redeemed through contracts, with the process being completely decentralized. (Source link)