ckBoost: Accelerating Bitcoin Transactions on Internet Computer

Fast Bitcoin to ckBTC conversion for the Internet Computer ecosystem

🚀 Overview

ckBoost is platform built on the Internet Computer Protocol (ICP) that solves a critical problem of the ecosystem: transaction speed for chain-key wrapping. By creating a liquidity pool system for ckBTC (chain-key Bitcoin, the Bitcoin twin on Internet Computer), ckBoost enables near-instant Bitcoin transactions, reducing confirmation times from 2 hours to just 15 minutes.

🔍 The Problem

ckBTC wrapping transactions are secure but slow. The standard confirmation time for minting ckBTC is approximately 2 hours, which creates significant friction for users who need faster access to their funds. This limitation is a major obstacle to ckBTC adoption for everyday transactions.

💡 Our Solution

ckBoost introduces a novel approach to this problem through a two-sided marketplace:

1. Liquidity Providers: Users can create booster pools by depositing ckBTC and setting a fee percentage. These pools provide the liquidity needed to "boost" transactions.

2. Users: People who need faster access to their ckBTC can use these liquidity pools to receive their funds in approximately 15 minutes instead of waiting for 2 hours, paying a small fee to the liquidity providers.

✨ Key Features

For Liquidity Providers:

• Create customizable booster pools with adjustable fee percentages (0.1% to 2%)
• Earn passive income by collecting fees when your pool is used for boosting transactions
• Monitor real-time pool balances and total boosted amounts
• Withdraw liquidity at any time (when not actively being used for boosting)

For Users:

• Receive ckBTC in approximately 15 minutes instead of 2 hours
• Transparent fee system with no hidden costs
• Seamless user experience with real-time transaction tracking

🛠️ Tech Stack

• Backend: Motoko on the Internet Computer

• Frontend: React 19, TypeScript, Tailwind CSS 4

• Blockchain Integration: ckBTC (chain-key Bitcoin)

• Authentication: Internet Identity, NFID

• Build Tools: Vite, DFX

🏗️ Architecture

ckBoost leverages the Internet Computer Protocol and its chain-key technology to create a secure bridge between Bitcoin and ICP. The platform consists of:

1. Canister: Written in Motoko, these handle the core logic of the platform, including pool creation, deposit management, and transaction boosting.

2. ckBTC Integration: Utilizes the ckBTC minter to facilitate the conversion between Bitcoin and ckBTC.

3. Modern Frontend: Built with React, TypeScript, and Tailwind CSS, providing a responsive and intuitive user interface.

4. Secure Authentication: Integrated with Internet Identity and NFID for secure user authentication.

🚀 Getting Started

Prerequisites

• Node.js (v18 or higher)

• DFX (Internet Computer SDK)

• IC Wallet with some ICP for canister deployment (for production)

Installation

1. Clone the repository:

git clone https://github.com/LevanIlashvili/ckboost-canister

cd ckboost-canister

2. Install dependencies:

npm install

3. Set up environment variables:

cp .env.example .env

Edit the .env file with your configuration.

Development

1. Start a local Internet Computer replica:

dfx start --background

2. Deploy the canisters to the local replica:

npm run deploy:local

3. Start the development server:

npm run dev

4. Open your browser and navigate to http://localhost:5173

Production Deployment

1. Deploy to the Internet Computer mainnet:

npm run deploy:ic

🌐 Live Demo

Visit our live demo at 72fa4-siaaa-aaaao-qj6mq-cai.icp0.io

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Built with ❤️ on the Internet Computer, during BUIDL Battle hackathon