Skip to content

Commit

Permalink
Update information on signers set for v2 FAQ
Browse files Browse the repository at this point in the history
  • Loading branch information
Shadowfiend committed Aug 28, 2024
1 parent b107d8b commit b0ed8f2
Showing 1 changed file with 9 additions and 1 deletion.
10 changes: 9 additions & 1 deletion src/pages/faq/index.md
Original file line number Diff line number Diff line change
Expand Up @@ -29,7 +29,15 @@ 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 [T
tokens](https://docs.threshold.network/resources/t-token) 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 [in the Threshold Network
documentation](https://docs.threshold.network).
- 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use brand new “roll your own crypto” rather than peer-reviewed, widely deployed t-ECDSA cryptography), or use an outdated capital-inefficient approach that tBTC has already outgrown in v2 of the protocol.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 b0ed8f2

Please sign in to comment.