Chain-key Bitcoin (ckBTC), a multi-chain bitcoin twin on the Internet Computer, is an ICRC-1-compliant token that is backed 1:1 by bitcoin (BTC) such that 1 ckBTC can always be redeemed for 1 BTC and vice versa. The ckBTC minter canister is responsible for both minting ckBTC tokens when users transfer bitcoins to its control and burning ckBTC when handling Bitcoin retrieval requests. ckBTC transactions are facilitated through a ledger canister, which in conjunction with archive canisters, tracks ckBTC account balances and transaction history between accounts. An index canister provides access to ckBTC transactions associated with individual accounts.
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