What is tBTC (Threshold Bitcoin)?

tBTC, or Threshold Bitcoin, is a protocol that allows users to mint a tokenized version of Bitcoin (BTC) on the Ethereum blockchain. This token, called tBTC, is backed 1:1 by Bitcoin, meaning that 1 tBTC is always redeemable for 1 BTC. tBTC is a decentralized, permissionless, and secure way to bring Bitcoin to the Ethereum blockchain, enabling Bitcoin holders to access the vast world of DeFi applications and services without relying on centralized custodians.

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