Dfinity Foundation – a not-for-profit organization that develops the Internet Computer protocol – announced the launch of a “twin” token that is 1:1 cryptographically secured by Bitcoin.
Dubbed “ckBTC,” the new token is being touted as liquid and cost-efficient that will enable layer-2 capabilities on Bitcoin by making it faster and cheaper to transact without compromising security. According to the official press release shared with CryptoPotato, Internet Computer aims to offer a secure solution to Bitcoin’s scaling concerns by integrating directly with the network at the protocol level.
(by Chayanika Deka)
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