Glossary

Internet Computer: The Internet Computer Protocol (ICP) is a blockchain based on threshold cryptography, state machine replication, and a novel consensus algorithm. https://internetcomputer.org/.

Bitomni: Bitomni transforms crypto asset management by integrating Bitcoin and Bitcoin assets with omnichain capabilities, ensuring secure, trustless, and diversified BTCFi on multiple blockchains. https://bitomni.io.

BTCFi: Short for BTC DeFi, refers to integrating Bitcoin and its derivatives into decentralized financial systems.

Omnichain: Refers to a blockchain architecture or framework that enables seamless interoperability and connectivity between multiple distinct blockchain networks. This concept allows assets, data, and smart contracts to move and interact across blockchains without intermediaries or complex bridging mechanisms.

DApp: A DApp, or a decentralized application, is a software program that runs on a blockchain network instead of a single computer or centralized servers. It operates autonomously, is often open-source, and relies on smart contracts to perform transactions without intermediaries, enhancing security and reducing reliance on central authorities.

ICRC1: The base standard for fungible tokens.

ICRC2: An extension of ICRC-1 that enables approve and transfer_from transactions.

Chain-key Bitcoin: Chain-key Bitcoin (ckBTC) is a token on the Internet Computer that is backed 1:1 by bitcoin (BTC) such that 1 ckBTC can always be redeemed for 1 BTC and vice versa.