BTC2
From CryptoWiki
Basics
- BTC2 is a token on the Bitcoin Cash blockchain (using SLP tech) that is 1:1 backed by on-chain BTC.
- BTC2 is like USDT. As USDT is an IOU for USD where Tether holds the actual USD in their bank, Sideshift is the custodian of the on-chain BTC and issues BTC2 tokens in return.
- in this way people can use BTC with Tx prices of BCH.
- It should be noted BTC2 is not be confused with the BTC forked project currently listed on CoinMarketCap, Bitcoin 2 (BTC2) popularly thought to be a classic pump and dump.
