Taproot Chain
  • Whitepaper
    • Introduction
    • Vision
    • Technical Framework
      • Taproot Bridge
      • Cross-chain Solution
      • RPC
    • TaprootChain Upgrade
    • Ecological
    • Roadmap
    • Team
  • How to start
    • 📗Cross-Chain Manual
    • 🍬Points Rules
    • ⚡OG PASS
    • 🥭NFT Marketge
    • 💎Merge Crystal
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Technical Framework

Transferring funds from Bitcoin to the Taproot Chain mainnet is an important operation, providing users with the opportunity to participate in transactions and ecosystem development within the Taproot Chain ecosystem. This process begins with a deposit operation, which occurs between the Bitcoin blockchain (L1) and the Taproot Chain mainnet (L2), with the aim of moving assets from Bitcoin to the Taproot Chain network. Users can initiate a deposit by sending Bitcoin to a designated Taproot Chain deposit address. Once the deposit transaction is executed on L1, the Taproot Bridge system monitors the arrival of funds and records it in the next available L2 block. Subsequently, an equivalent amount of assets is released to the user's account on the Taproot Chain network. Typically, a deposit transaction requires waiting for 8 confirmations on the corresponding Bitcoin blockchain L1 after being confirmed.

Once the funds are successfully deposited into the Taproot Chain mainnet, users can transfer the assets back to the Bitcoin blockchain as needed. This process, known as withdrawal, involves the following steps:

  1. User initiates a withdrawal request: The user initiates a withdrawal transaction on the Taproot Chain network, specifying the amount to be withdrawn.

  2. Confirmation on L2: The withdrawal transaction is included in an L2 block and, after final confirmation, the user needs to submit a withdrawal proof on the Bitcoin blockchain (L1). This proof is a request to withdraw an equivalent amount of assets from Taproot Bridge's public management account.

  3. Waiting for withdrawal confirmation: The user needs to wait for a period of time to ensure the security and integrity of the withdrawal process. During this period, the Taproot Bridge system performs necessary verification and confirmation.

Through these steps, users can seamlessly transfer assets between the Bitcoin blockchain and the Taproot Chain mainnet, providing an efficient and secure solution for cross-chain transactions within the Taproot Chain ecosystem.

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Last updated 7 months ago

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