When users initiate a BTC deposit transaction to the public multi-signature address on ChainX , and at the same time attaches his own ChainX account address information in OP_RETURN, the ChainX relay will automatically submit a transaction certificate, and after obtaining the ChainX light node security confirmation, the OP_RETURN ChainX account will automatically get 1: 1 X-BTC. X-BTC can participate in asset mining, fast transfer and DEX transactions.

ChainX adopts an open and transparent model of full reserve to issue X-BTC 1: 1, which gives BTC 2s fast transfer and decentralized transaction capabilities within the ChainX network, and transfers the highest credit X-BTC to Polkadot .

About ChainX

ChainX is the largest Layer-2 network of Bitcoin, based on Substrate, and will evolve into the Polkadot Secondary Relay Chain.