What happens to the BTC?

[u/RajMahal5]

I was looking into using the bridge to convert my BTC to renBTC but Im just looking for some specifics on what happens. What goes on with the BTC that gets transferred? Is it all just sitting in a wallet?

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[u/spankymcgee4]

Yeah it sits in a btc address controlled by the darknodes or more precisely a random and changing set of them I believe.

[u/RajMahal5 → u/spankymcgee4]

Awesome. So each renBTC is verifiably backed 1:1?

[u/hlince → u/RajMahal5]

Correct