The DFINITY Foundation announced Monday the launch of ckBTC, a liquid, cost-effective “twin” token backed 1:1 by Bitcoin.
This development brings Layer 2 functionality to Bitcoin, allowing for faster and cheaper transactions without compromising security.
By integrating directly with the Bitcoin network, ckBTC can be used for DeFi applications on supported networks without relying on centralized bridging services, a major security concern in the broader crypto ecosystem.