The ICP ckBTC page of Bitcoin Layers is under development.

We have not yet implemented our proof-of-reserves and therefore cannot assure you that wrappers are fully backed, 1:1, with BTC. Please use caution interacting with these wrapped BTC assets. Additionally, there may be incomplete or outdated research.

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ICP ckBTC

Overview

Status

Mainnet

Type

Reserve

BTC Supply

₿0

ckBTC is a BTC-backed reserve asset that can be leveraged on the ICP network.

Assessment

Asset Custody

Funds are secured by signer set selected by ICP consensus

Users who deposit funds into ckBTC trust a set of operators, who are elected via ICP governance, with the custody of their bitcoin. The operators of the ‘pzp6e…’ subnet manage the “ckBTC” smart contract module, which is responsible for minting, securing and burning bitcoin-backed tokens on the ICP sidechain.

This smart contract is a part of a subnet with 34 node operators. These operators have undergone a KYB process to ICP governance and are publicly known.

Further sections to be reviewed

Aspects related to minting & burning, key management, transaction signing, and proof-of-reserves have not been reviewed. We are currently reviewing these sections.