similar idea, wrote it for cardano but applies to any real smart chain: eBTC – A Trustless BTC…

similar idea, wrote it for cardano but applies to any real smart chain:

 eBTC – A Trustless BTC one-way or two-way Bridge on Cardano

Abstract

This proposal defines eBTC: a trustless mechanism for moving Bitcoin (BTC) value onto Cardano as a native token, unlocking BTC liquidity for Cardano DeFi. Originally conceived as a one-way, burn-and-mint design, this CIP also explores a more advanced two-way approach using on-chain key management. The one-way approach involves burning BTC on the Bitcoin network, presenting cryptographic proofs (NIPoPoW/SPV) to a Cardano smart contract, and minting a corresponding amount of eBTC. The two-way extension allows redeeming BTC by carefully managing a unique Bitcoin wallet private key on-chain. Both approaches aim at allowing BTC to benefit from Cardano’s advanced smart contract functionalities.

Full draft proposal here: https://raw.githubusercontent.com/siran/CIPs/refs/heads/CPS-1856/CPS-1856/README.md

Comments welcome…

https://forum.cardano.org/t/ebtc-a-trustless-btc-one-way-or-two-way-bridge-on-cardano/141117