Question 1

What is BTC?

Accepted Answer

BTC is the best-known and most popular of the digital currencies—also referred to as cryptocurrencies because of the underlying encryption technology that makes them secure. Digital currencies are a new, electronic form of money developed for the Internet age.

Question 2

What is ckBTC / chain-key BTC?

Accepted Answer

ckBTC is a form of advanced wrapped BTC on the Internet Computer that is obtained natively through direct integration. The ckBTC ledger effectively holds (controls) its own native BTC private key, but the key as a whole is not available to anyone or any code.

Question 3

What is Chain-Key Cryptography?

Accepted Answer

Chain-Key cryptography is a threshold signature scheme, which is like an ordinary digital signature scheme, except that the secret signing key is distributed among all the replicas in a subnet in such a way that the key cannot be stolen by compromising one (or even a large fraction) of the replicas

Question 4

What is a Smart Contract?

Accepted Answer

A smart contract is a program or a transaction protocol that is intended to automatically execute, control or document events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of need for trusted intermediators / arbitration / etc

Question 5

What is a Canister Smart Contract?

Accepted Answer

On the Internet Computer smart contracts come in the form of canisters. These are computational units that bundle together code and state. Canisters expose endpoints that can be called both by other canisters and by parties external to the IC, such as browsers or mobile apps.

Question 6

What is OffChain?

Accepted Answer

OffChain is a global networking community for blockchain and crypto enthusiasts that started in 2017. OffChain welcomes a wide range of like-minded people, from blockchain developers to crypto VCs, from miners and quant traders to people who just own a little bitcoin. OffChain welcomes everyone!

Question 7

What is the Internet Computer Protocol (ICP)?

Accepted Answer

The Internet Computer (IC) is the only general-purpose blockchain that runs decentralized apps at web speed. It is the World Computer that can replace traditional IT and enable a new generation of Web3 apps and services running entirely on-chain.

Question 8

What is Dfinity Foundation?

Accepted Answer

Dfinity Foundation is a major contributor to the Internet Computer blockchain. Dfinity aims to create a "blockchain singularity" in which every system and service is rebuilt and reimagined using smart contracts and runs entirely from infinite public blockchain without need for traditional IT.

ICP x OffChain Singapore: The Bitcoin Reloaded

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