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PowPeg App
The PowPeg App, formerly the 2 Way Peg App, allows users to convert BTC to RBTC and vice versa. It is secured by the PowPeg protocol, a unique system that safeguards locked bitcoins using the same Bitcoin hash rate that establishes consensus.
Transaction Types
- Peg-in: Convert BTC into RBTC by locking Bitcoin in a secure multi-signature wallet. After confirmation, an equivalent amount of RBTC is issued on the Rootstock blockchain.
- Peg-out: Exchange RBTC back into BTC by burning RBTC on Rootstock and unlocking the corresponding BTC for transfer.
Why Use the PowPeg App?
The PowPeg protocol is a robust mechanism for ensuring interoperability between Bitcoin and Rootstock. It offers:
- Security: Bitcoin's hash rate guarantees asset safety during conversions.
- Decentralization: Transactions rely on federated signing, minimizing risks of centralized control.
- Flexibility: Enables access to Rootstock’s smart contract capabilities without leaving the Bitcoin ecosystem.
Discover more about the Peg-in process and Peg-out process to get started.
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