Nomic

Nomic is a layer-1 blockchain which offers a decentralized, non-custodial Bitcoin bridge.

nBTC is a token that represents 1:1 ownership of Bitcoin in an IBC-compatible token.

NOM is a token used for securing the network which can be staked to earn Bitcoin rewards.

It makes it easy and fun to write smart contracts for the world's most popular cryptocurrency, using the language of the web.

This is a working prototype Bitcoin sidechain based on the Tendermint consensus protocol - a decentralized network which coordinates to manage reserves of Bitcoin, allowing for custom application code and smart contracts which use Bitcoin as the native currency.

We avoid the long-range attack problem of proof-of-stake networks by periodically timestamping the sidechain on the Bitcoin blockchain, gaining the security of Bitcoin's proof-of-work in addition to the instant finality of BFT consensus protocols.

This network is secured by a set of "validator" nodes instead of miners. We, the Nomic developers, are currently the only two validators: Judd Keppel and Matt Bell (mappum).