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Summary of pTokens BTC
- pTokens BTC is a 1:1 pegged Bitcoin representation on 8 blockchains: Ethereum, Arbitrum, Algorand, Binance Smart Chain, Gnosis (xDai), EOS, Telos, and more to be added.
- pBTC is a tokenized cryptoasset in the pNetwork ecosystem, enabling interoperability across independent blockchains.
- pTokens maintain a 1-to-1 peg between the native blockchain and the host blockchain.
- With pNetwork V2, pTokens like pBTC become fungible across chains, allowing users to move pBTC directly across supported chains without going back to the native Bitcoin blockchain.
Introducing pTokens BTC: A Novel Approach to Bitcoin on Ethereum
pTokens BTC is a 1:1 pegged representation of Bitcoin on a multitude of prominent blockchain networks, including Ethereum, Arbitrum, Algorand, Binance Smart Chain, Gnosis (formerly known as xDai), EOS, and Telos, with additional integrations forthcoming.
pBTC is a tokenized cryptoasset within the pNetwork ecosystem, an open-source, multi-chain routing protocol designed to facilitate seamless interoperability across a diverse range of independent blockchains. This cross-blockchain functionality enables the creation of “wrapped” tokens, known as pTokens, which maintain a 1:1 peg between the native blockchain and the host blockchain (e.g., Bitcoins wrapped to operate on the Ethereum blockchain).
With the advent of pNetwork V2, pTokens, such as pBTC, have become seamlessly interoperable across chains, enabling users to effortlessly transfer their pBTC directly between any of the supported chains, eliminating the need to revert to the native Bitcoin blockchain.