What Is iBTC?
iBTC is trustless Bitcoin on any blockchain - fully collateralized, interoperable, and censorship-resistant. iBTC allows everyone to invest, pay and earn on their BTC, trustless and on any blockchain.
Interlay’s BTC bridge is the secure way to use Bitcoin in the multi-chain ecosystem. iBTC, a 1:1 BTC-backed asset, is secured by a decentralized network of vaults. BTC deposits are insured by a multi-collateral system and secured by cross-chain light clients.
iBTC holders are guaranteed to redeem iBTC 1:1 for BTC, or automatically be reimbursed in collateral in case of failure. This makes iBTC the only truly decentralized and economically trustless BTC bridge (as of July 2023).
iBTC is deployed on the Interlay network, is already available on 17 Polkadot and Kusama parachains and soon will be available on Ethereum, Cosmos and other major L1 networks.