Skip to content

Commit

Permalink
Merge pull request #428 from keep-network/give-me-the-t
Browse files Browse the repository at this point in the history
Give me the T
  • Loading branch information
Shadowfiend committed Aug 28, 2024
2 parents f1c5f05 + af2fac4 commit 3b1aeb4
Show file tree
Hide file tree
Showing 2 changed files with 22 additions and 10 deletions.
19 changes: 11 additions & 8 deletions src/pages/developers/tbtc-technical-system-overview.md
Original file line number Diff line number Diff line change
Expand Up @@ -12,9 +12,10 @@ tags:
---

tBTC v2 securely and quickly bridges Bitcoin to any other chain 24 hours a day,
7 days a week, leveraging the [Threshold Network's](https://threshold.network)
decentralized set of nodes for security, as well as select additional partners
for faster operations.
7 days a week, leveraging the security of the [Threshold
Network's](https://threshold.network) decentralized set of nodes and their
staked [T tokens](https://docs.threshold.network/resources/t-token), as well as
select additional partners for accelerated operations.

This piece explains the four core pillars of tBTC's design: threshold
signatures, walet generation & signer selection, deposit sweeping, and
Expand Down Expand Up @@ -46,11 +47,13 @@ _Deeper details are available [in the Threshold documentation](https://docs.thre
tBTC v2 generates Bitcoin wallets that are backed by a governable number of
signers (100 per wallet) from the Threshold Network's node pool. Signers are
selected randomly from the available nodes in the Threshold Network, with
probability weighted by their staked T. One node may have multiple signers in a
given wallet, and tBTC relies on an honest majority assumption and
probabilistic security to ensure the security of each wallet (see the [tBTC
security model](/developers/tbtc-security-model) docs for more). Staked T
on the Threshold Network is the economic value used to secure the system.
probability weighted by how much of the [Threshold T
token](https://docs.threshold.network/resources/t-token) each node has staked
(with a 40,000 T minimum). One node may have multiple signers in a given
wallet, and tBTC relies on an honest majority assumption and probabilistic
security to ensure the security of each wallet (see the [tBTC security
model](/developers/tbtc-security-model) docs for more). Staked T on the
Threshold Network is the economic value used to secure the system.

A new wallet is generated at a governable interval (every 2 weeks as of this
writing), and new deposits are directed to the new wallet once it is set up.
Expand Down
13 changes: 11 additions & 2 deletions src/pages/faq/index.md
Original file line number Diff line number Diff line change
Expand Up @@ -17,7 +17,7 @@ questions:
Not yet. Integration work is required to build tBTC minting and redemption into a dApp. The <a href="/developers" target="_blank">developer documentation</a> includes links to the tBTC SDK and SDK docs, enabling developers to build interfaces that match their products. To validate Bitcoin transactions, the best approach is to run an electrum server, which is very easy to spin up.
- question: Has tBTC been audited?
answer: >
tBTC has undergone multiple audits (3 for v1, 3 and counting for v2), as have the underlying node clients, and tBTC is a part of the Threshold Network bug bounty program.
tBTC has undergone multiple audits (3 for v1, 3 and counting for v2), as have the underlying node clients, and tBTC is a part of the Threshold Network bug bounty program. You can view v2 audits on <a href="https://github.com/threshold-network/security-audits">this page</a>.
- question: Does Signing for tBTC make you a MSB?
answer: >
Each user should undertake their own analysis as to whether there are any legal restrictions in their jurisdiction that would either prevent them from using tBTC or require the user to register with certain government entities.
Expand All @@ -29,7 +29,16 @@ questions:
tBTC’s signer sets use threshold ECDSA as a Bitcoin multisig replacement. For every deposit, a new signer set is pulled together (selected by the random beacon), and they generate a Bitcoin PKH address for the depositor, which is marked on the Ethereum chain.
- question: Who are the signers? Can anyone become a signer?
answer: >
Shortly after launch, there should be a group of roughly 80 private sale KEEP purchasers and a few other trusted parties signing for tBTC. Very soon an opportunity will be announced for more individuals to participate by staking ETH to become a signer.
Anyone who holds at least 40,000 <a
href="https://docs.threshold.network/resources/t-token">T tokens</a> can
stake them
and authorize the tBTC Threshold application to become a signer for tBTC.
Currently, the Threshold Council manages authorizing new operators to
participate in tBTC protocol operations to ensure system performance
while adjustments are made to allow operations by anyone who can run a
node. More details about staking T tokens and the Threshold Network are
available <a href="https://docs.threshold.network">in the Threshold
Network documentation</a>.
- question: Why is this better than other BTC on Ethereum projects?
answer: >
Some people believe tBTC is better for several reasons. Some projects have built synthetic price pegs, which is not a true bridge. Other projects are supply pegs, but have centralized parties adding friction to the minting and redemption process and therefore, are not censorship-resistant systems. Some new bridges are decentralized supply pegs, however, those security models are less safe. They rely on a ⅔ honesty assumption, use brand new “roll your own crypto” rather than peer-reviewed, widely deployed t-ECDSA cryptography), or use an outdated capital-inefficient approach that tBTC has already outgrown in v2 of the protocol.
Expand Down

0 comments on commit 3b1aeb4

Please sign in to comment.