Skip to content

Commit 11c4984

Browse files
committed
chore: replace BTC-Parachain with interBTC bridge
1 parent 1ebc423 commit 11c4984

5 files changed

Lines changed: 16 additions & 16 deletions

File tree

docs/about/roadmap.md

Lines changed: 2 additions & 2 deletions
Original file line numberDiff line numberDiff line change
@@ -3,7 +3,7 @@
33

44
The Interlay team is building a customized Substrate environment for interBTC, optimized to verify Bitcoin payments. The BTC Parachain includes a Bitcoin cross-chain SPV client (BTC-Relay), integrations with secure price oracles and XCMP, as well as support for hardware wallets. In addition, Interlay is also building client software for Vaults, Relayers (who make sure BTC-Relay is up to date), as well as an easy-to-use web interface.
55

6-
[Interlay](https://interlay.io/) has previously released a [detailed technical specification](https://interlay.gitlab.io/interbtc-spec/) and a [working PoC implementation](https://github.com/interlay/BTC-Parachain). After the successful pilot project, Interlay won a second [Web3 Foundation grant](https://web3.foundation/grants/) to complete the BTC Parachain - the core milestones of this project were completed in March 2021.
6+
[Interlay](https://interlay.io/) has previously released a [detailed technical specification](https://interlay.gitlab.io/interbtc-spec/) and a [working PoC implementation](https://github.com/interlay/interbtc). After the successful pilot project, Interlay won a second [Web3 Foundation grant](https://web3.foundation/grants/) to complete the BTC Parachain - the core milestones of this project were completed in March 2021.
77

88
### Timeline So Far
99
- **1st Web3 Foundation grant** (Spec & PoC) started in January 2020
@@ -15,4 +15,4 @@ The Interlay team is building a customized Substrate environment for interBTC, o
1515
- **(soon) interBTC on Polkadot** is expected in late 2021 / early 2022.
1616

1717
---
18-
A more detailed roadmap for Kinstugi Kusama launch and towards interBTC launch on Polkadot will be published here shortly.
18+
A more detailed roadmap for Kinstugi Kusama launch and towards interBTC launch on Polkadot will be published here shortly.

docs/collator/guide.md

Lines changed: 2 additions & 2 deletions
Original file line numberDiff line numberDiff line change
@@ -1,6 +1,6 @@
11
# Setting up a Collator
22

3-
Running a Collator will allow you to sync and verify the integrity of the BTC-Parachain.
3+
Running a Collator will allow you to sync and verify the integrity of the interBTC bridge.
44
To get started, follow this guide.
55

66
At the end of this document you will have:
@@ -74,7 +74,7 @@ rustup target add wasm32-unknown-unknown --toolchain nightly
7474

7575
?> This step will take some time depending on your hardware.
7676

77-
Clone the BTC-Parachain code, checkout release `0.8.5`, and build the node:
77+
Clone the interBTC bridge code, checkout release `0.8.5`, and build the node:
7878

7979
```shell
8080
git clone git@github.com:interlay/interbtc.git

docs/developers/documentation.md

Lines changed: 2 additions & 2 deletions
Original file line numberDiff line numberDiff line change
@@ -8,12 +8,12 @@ If you want to get started working on interBTC, understand how the system works,
88

99
- [Specification](https://interlay.gitlab.io/interbtc-spec/)
1010
- [Specification as PDF](https://interlay.gitlab.io/interbtc-spec/interbtc-spec.pdf)
11-
- [Source](https://github.com/interlay/btc-parachain-spec)
11+
- [Source](https://github.com/interlay/interbtc-spec)
1212

1313
### BTC Parachain
1414

1515
- [Documentation](https://www.interlay.io/interbtc/)
16-
- [Source](https://github.com/interlay/btc-parachain)
16+
- [Source](https://github.com/interlay/interbtc)
1717

1818
### Vaults
1919

docs/start/faq.md

Lines changed: 1 addition & 1 deletion
Original file line numberDiff line numberDiff line change
@@ -2,7 +2,7 @@
22

33
### How does interBTC maintain its peg?
44

5-
The BTC-Parachain ensures that for each minted interBTC: (1) there is an equivalent amount of BTC physically locked on Bitcoin, and (2) there is sufficient DOT collateral locked to economically back minted interBTC in case vaults attempt theft. As such, interBTC is a hybrid peg, with supply determined by both locked BTC and DOT.
5+
The interBTC bridge ensures that for each minted interBTC: (1) there is an equivalent amount of BTC physically locked on Bitcoin, and (2) there is sufficient DOT collateral locked to economically back minted interBTC in case vaults attempt theft. As such, interBTC is a hybrid peg, with supply determined by both locked BTC and DOT.
66

77
### Who are the vaults? Can anyone become a vault?
88

docs/start/overview.md

Lines changed: 9 additions & 9 deletions
Original file line numberDiff line numberDiff line change
@@ -2,27 +2,27 @@
22

33
In 2016, the [Polkadot whitepaper](https://polkadot.network/PolkaDotPaper.pdf) identified secure interoperability with Bitcoin as a critical and also challenging feature. In January 2020, with the launch of Polkadot on the horizon, the [Web3 Foundation](https://web3.foundation/in) commissioned [Interlay](https://www.interlay.io/) to design a trustless bridge from Bitcoin to Polkadot based on [XCLAIM](https://www.xclaim.io/) — a carefully designed, open and trustless system that guarantees the security of user’s funds.
44

5-
The BTC-Parachain allows users to mint 1:1 Bitcoin-backed assets onto Polkadot - interBTC - and use these across a wide range of applications, including decentralized exchanges, stablecoins, and lending protocols.
5+
The interBTC bridge allows users to mint 1:1 Bitcoin-backed assets onto Polkadot - interBTC - and use these across a wide range of applications, including decentralized exchanges, stablecoins, and lending protocols.
66

7-
Funded by a [Web3 Foundation grant](https://web3.foundation/grants/), the BTC-Parachain is implemented in [Rust](https://www.rust-lang.org/) using [Parity](https://www.parity.io/)'s [Substrate framework](https://substrate.dev/).
7+
Funded by a [Web3 Foundation grant](https://web3.foundation/grants/), the interBTC bridge is implemented in [Rust](https://www.rust-lang.org/) using [Parity](https://www.parity.io/)'s [Substrate framework](https://substrate.dev/).
88

99
### Helpful Links
1010

1111
- [Polkadot's blog post explaining interBTC](https://polkadot.network/bitcoin-is-coming-to-polkadot/)
1212

1313
- [BTC Parachain specification](https://interlay.gitlab.io/interbtc-spec/)
1414

15-
- [BTC Parachain open-source code](https://github.com/interlay/btc-parachain)
15+
- [BTC Parachain open-source code](https://github.com/interlay/interbtc)
1616

1717
- [XCLAIM peer-reviewed paper](https://eprint.iacr.org/2018/643.pdf)
1818

1919
- [Interlay homepage](https://www.interlay.io/)
2020

2121
## Security Guarantees: Trustless and Fully Decentralized
2222

23-
What makes the BTC-Parachain unique is the strict dedication to being trustless and decentralized:
23+
What makes the interBTC bridge unique is the strict dedication to being trustless and decentralized:
2424

25-
- **Trustless**. The bridge has no central authority. Right from the start, the BTC-Parachain will be run by a decentralized network of individuals, community members, and companies.
25+
- **Trustless**. The bridge has no central authority. Right from the start, the interBTC bridge will be run by a decentralized network of individuals, community members, and companies.
2626
- **Decentralized**. In the spirit of permissionless systems like Bitcoin, anyone can participate in operating the bridge: contrary to other approaches, you do not need permission or any additional token to become a maintainer and start earning fees.
2727

2828
As a holder of interBTC, you have the following guarantee:
@@ -40,19 +40,19 @@ Summarizing, to trust the bridge, you only need to:
4040

4141
### Cryptocurrency-Backed Assets
4242

43-
At the core, XCLAIM - the framework underlying the BTC-Parachain - introduces the concept of cryptocurrency-back assets. Assets are locked on Bitcoin and unlocked on Polkadot in form of 1:1 BTC backed-assets (interBTC). interBTC can be used just like any native asset within the Polkadot ecosystem, meaning: they can be easily transferred and integrated into other Parachains and applications.
43+
At the core, XCLAIM - the framework underlying the interBTC bridge - introduces the concept of cryptocurrency-back assets. Assets are locked on Bitcoin and unlocked on Polkadot in form of 1:1 BTC backed-assets (interBTC). interBTC can be used just like any native asset within the Polkadot ecosystem, meaning: they can be easily transferred and integrated into other Parachains and applications.
4444

4545
![Cryptocurrency-backed Assets](../_assets/img/CbA.jpg)
4646

4747
### Issue, Trade, Redeem
4848

4949
[XCLAIM](https://xclaim.io) consists of three main protocols, which also resemble the life-cycle of interBTC:
5050

51-
- **Issue**: Users create interBTC on the BTC-Parachain by locking BTC with Vaults — non-trusted and collateralized intermediaries on Bitcoin (see below).
51+
- **Issue**: Users create interBTC on the interBTC bridge by locking BTC with Vaults — non-trusted and collateralized intermediaries on Bitcoin (see below).
5252

5353
- **Transfer**: Users transfer interBTC to other users or migrate to other Parachains within the Polkadot ecosystem, integrating with stablecoins, decentralized exchanges, lending protocols etc.
5454

55-
- **Redeem**: Users burn interBTC on the BTC-Parachain to receive the *equivalent* amount of BTC from Vaults on Bitcoin.
55+
- **Redeem**: Users burn interBTC on the interBTC bridge to receive the *equivalent* amount of BTC from Vaults on Bitcoin.
5656

5757
interBTC can remain on Polkadot indefinitely (no expiry date) and can be redeemed at any point in time. Users who obtain interBTC on Polkadot do not need a BTC wallet, until they decide to redeem the tokens for BTC (if at all).
5858

@@ -90,7 +90,7 @@ Both can redeem owned interBTC for BTC at any time (requires BTC wallet).
9090

9191
All roles are coordinated through the **Parachain Execution Environment**, which encodes the functionality to issue, transfer and redeem interBTC, and enforce correct behavior of Vaults. Thereby, the Parachain implements a multi-stage collateralization scheme, to protect against exchange rate fluctuations. The Parachain also verifies the correct execution of payments on Bitcoin via BTC-Relay, a Substrate Bitcoin SPV client. To transfer interBTC to other Parachains, an integration with Polkadot’s Cross-Chain Message Passing (XCMP) will be provided.
9292

93-
![The BTC-Parachain is Polkadot’s trustless gateway for Bitcoin.](https://cdn-images-1.medium.com/max/3200/0*v1lfJ1ZK75luh16s)*The BTC-Parachain is Polkadot’s trustless gateway for Bitcoin.*
93+
![The interBTC bridge is Polkadot’s trustless gateway for Bitcoin.](https://cdn-images-1.medium.com/max/3200/0*v1lfJ1ZK75luh16s)*The interBTC bridge is Polkadot’s trustless gateway for Bitcoin.*
9494

9595
<div id="step-by-step"></div>
9696

0 commit comments

Comments
 (0)