ckBTC: a canister-issued bitcoin twin token on the IC, 1:1-backed by BTC

General
184

Hi everyone :wave: !

Summary

  • :index_pointing_at_the_viewer: Withdraw your ckTESTBTC tokens now!
  • :information_source: Rest assured, ckBTC is not impacted.

Details

Manu highlighted some proposed changes to the ICP’s bitcoin integration, one of which being

  1. Change the Bitcoin testnet canister to use Bitcoin’s testnet4, rather than the current testnet3. Testnet4 includes code changes to how the mining difficulty can be adjusted, which should avoid block storms (details can be found in BIP 94). Also testnet token availability for testnet4 is currently much better than for testnet3.

What this means, for ckTESTBTC:

  1. In the upcoming weeks, the bitcoin test canister will likely be reset to track Bitcoin testnet4 and testnet3 will no longer be available.
  2. At that point the ckTESTBTC canisters (minter, ledger, index and archive canisters) will be reset and tokens previously held by the minter will no longer be available.
  3. We therefore encourage ckTESTBTC holders to withdraw their tokens starting now.
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