Trustless Bitcoin Vaults

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Bitcoin (BTC) is the largest crypto asset, yet the Bitcoin blockchain offers few applications in which BTC can be used. A standard approach to make BTC useful is bridging: BTC is deposited on the Bitcoin chain and a wrapped asset is minted on a chain such as Ethereum, where it can be used in smart contract applications. Unfortunately, all Bitcoin bridges to date require trust assumptions on a centralized party or a committee running the bridge to enable withdrawals of the deposited BTC, includin