Stack announces the launch of a new digital asset, sBTC, aimed at bringing smart contracts to Bitcoin
ChainCatcher news, the blockchain project Stack, based on the "proof of transfer" consensus mechanism, has released its latest white paper, announcing the launch of a new digital asset "Stacks bitcoin (sBTC)" that is pegged 1:1 to Bitcoin, aimed at bringing smart contracts to Bitcoin.
According to the information in the white paper, Stacks will act as a Bitcoin sidechain, supported by sBTC and STX (Stacks' native token). The sBTC pegging system is responsible for minting sBTC and handling operations such as sending, retrieving, and burning BTC, ultimately driving the unlocking of a "Bitcoin DeFi market" worth hundreds of billions of dollars. (source link)
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