Initial sbtc docs update #1647
Initial sbtc docs update #1647
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concepts/sbtc/operations/deposit.md
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| # sBTC Deposit Operation | |||
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| The deposit operation allows users to convert their BTC to sBTC. This process involves moving BTC from the Bitcoin blockchain to the Stacks blockchain as sBTC. | |||
| The deposit operation enables users to convert their BTC to sBTC, effectively moving value from the Bitcoin blockchain to the Stacks blockchain. This process can be completed within a single Bitcoin block, streamlining the user experience. | |||
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Is it really moving value though? or just adding value?
i think there needs to be some qualifiers about "a single bitcoin block" as well - single block confirmations are inherently dangerous, and bitcoin can and does have forks (meaning a single block confirmation may be reverted).
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@AshtonStephens where are we with single Bitcoin block confirmations in regards to potential forks? I remember briefly having this conversation with you but can't remember why we said single block confirmations for deposits.
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| ## User Experience | ||
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| From a user's perspective, the deposit process involves: | ||
| From a user's perspective, the deposit process is straightforward. Users initiate a BTC transaction to a specified address and then wait for the transaction to be confirmed on the Bitcoin blockchain. Once confirmed, they receive the equivalent amount of sBTC in their Stacks wallet. |
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One thing i'm nore sure about is the use of "sortitions" vs using "confirmations". is there a benefit to using one over the other? |
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@kenrogers I think we should remove the concept of "Bootstrap Signers" to only be "sBTC Signers." We did this in the SIP for simplicity and to remove the difference between the two systems for both users and developers.
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This file just refers to the Clarity contract with that name. @AshtonStephens correct me if I'm wrong, but I don't think this refers to the phase 1 bootstrap signers, this is just the contract that is used whenever the signer set changes, so bootstrap here refers to "bootstrapping" the new signer set.
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| sBTC empowers developers to build applications on Bitcoin by bridging Bitcoin and [Stacks](https://www.stacks.co/). We achieve this by introducing a fungible token (sBTC) on the Stacks blockchain. The token has the following properties: | ||
| 1. **Bitcoin Compatibility**: Allows Bitcoin holders to participate in the Stacks ecosystem without selling their BTC. | ||
| 2. **DeFi Access**: Enables BTC holders to participate in DeFi. |
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This has been mentioned a few times now that i've noticed, but i don't see how a "BTC holder" may participate in DeFi. If we're not going to say how someone can do that in this doc, i would reword this. I don't have any suggestions at the moment though.
| sBTC empowers developers to build applications on Bitcoin by bridging Bitcoin and [Stacks](https://www.stacks.co/). We achieve this by introducing a fungible token (sBTC) on the Stacks blockchain. The token has the following properties: | ||
| 1. **Bitcoin Compatibility**: Allows Bitcoin holders to participate in the Stacks ecosystem without selling their BTC. | ||
| 2. **DeFi Access**: Enables BTC holders to participate in DeFi. | ||
| 3. **Quick Conversions**: Facilitates rapid movement between BTC and sBTC. |
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Can this be quantified? i.e. ... within 5 bitcoin blocks or whichever is the correct number of blocks
| 1. **Bitcoin Compatibility**: Allows Bitcoin holders to participate in the Stacks ecosystem without selling their BTC. | ||
| 2. **DeFi Access**: Enables BTC holders to participate in DeFi. | ||
| 3. **Quick Conversions**: Facilitates rapid movement between BTC and sBTC. | ||
| 4. **Decentralized Management**: Utilizes a set of signers for maintaining the peg wallet. |
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i would be specific here and mention there will be 15 signers, and possibly link to the SIP defining how those signers shall be chosen (or the working group discussion where the initial signers are listed)
| 2. **DeFi Access**: Enables BTC holders to participate in DeFi. | ||
| 3. **Quick Conversions**: Facilitates rapid movement between BTC and sBTC. | ||
| 4. **Decentralized Management**: Utilizes a set of signers for maintaining the peg wallet. | ||
| 5. **Community Governance**: Involves the community in key decisions, such as selecting the initial signing set. |
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Same as above - i'm not sure how accurate/informative needs to be, but it feels like these statements are missing context and introduce questions that aren't being answered.
the counter argument is that it's not relevant for the doc, and would just add more text to read through vs being shorter and easier to digest.
Update sBTC docs with new design