Deluge Network is the safest service to allow users to directly contribute Bitcoin to an ICO without an exchange. Transaction times and fees will be minimal, and the transaction will be as simple as identifying an ICO's address and sending Bitcoin using Deluge wallet software. Users can also receive Deluge Bitcoin Token (DBTC) directly back to their wallet if a simple conversion is preferred. The DBTC Token can also be converted directly to Bitcoin on a 1:1 basis. Deluge Network enables Bitcoin to act as if it is moving on the Ethereum blockchain.
Unlike traditional exchanges, Deluge Network will be inexpensive, direct, and extremely fast. It will give Bitcoin holders a clear, private, and easy path to contribute to ICOs or exchange Bitcoin to the ERC20 DBTC Token.
Convert Bitcoin to DBTC and contribute to an ICO quickly.
Deluge wallet software makes it easy to convert BTC to an ERC20 token.
Run by smart contract and validated with checks and balances.
Transaction fees will start at .7% and may decrease over time.
Deluge Network will enable Bitcoin to act as if it is moving on the Ethereum blockchain by fully backing the Deluge Bitcoin Token (DBTC) with an equal amount of Bitcoin (BTC). This will allow fast and easy conversion both to and from Bitcoin.
To use Deluge Network to turn Bitcoin into DBTC, users will send Bitcoins using Deluge wallet software. The Deluge wallet software will send a receipt to the Deluge smart contract on Ethereum. The Deluge smart contract will verify the receipt and mint DBTC into the user's wallet.
To contribute directly to an ICO, users will designate the ICO's address using the Deluge wallet software so that the DBTC can be contributed once converted.
In reverse (DBTC to BTC), the user will use the Deluge wallet software to initiate a burn of the DBTC. The Deluge smart contract will send a notification of the burn, along with some data, to a network of verifiers. If a sufficient number of verifiers confirm, a transaction for the appropriate number of Bitcoins will be executed.
Full technical details coming soon: join the community to receive updates.
Additional validators to be announced.