Update README

concepts/sbtc/README.md

@@ -14,17 +14,52 @@ The primary purpose of sBTC is to bridge the Bitcoin and Stacks ecosystems, prov
 4. **Decentralized Management**: Utilizes a set of signers for maintaining the peg wallet.
 5. **Community Governance**: Involves the community in key decisions, such as selecting the initial signing set.
 
-## Table of Contents
+## Key Concepts
 
-1. [Key Concepts](key-concepts.md)
-2. [Core Features](core-features.md)
-3. [sBTC Operations](operations/README.md)
+Understanding sBTC requires familiarity with several key concepts.
+
+### sBTC
+
+sBTC is a SIP-10 token on the Stacks Blockchain that can be converted back to BTC on the Bitcoin Blockchain. The key property of sBTC is its 1:1 peg to Bitcoin, meaning 1 sBTC is always equivalent to 1 BTC.
+
+### sBTC UTXO
+
+The sBTC UTXO is the single unspent transaction output (UTXO) on the Bitcoin blockchain that holds the entire BTC balance pegged into sBTC. This UTXO is managed and maintained by the sBTC Signers.
+
+### sBTC Signer
+
+In sBTC, the sBTC Signer is a signer entity separate from the Stacks Nakamoto signer. sBTC signer responsibilities include:
+
+- Signing sBTC operations
+- Communicating with contracts on the Stacks chain
+- Managing the sBTC UTxO
+
+In future version of sBTC, Nakamoto and sBTC signers will be the same entity.
+
+### sBTC Signer Set
+
+The sBTC Signer Set is the group of all sBTC signers. This set has full democratic access to the sBTC UTXO. Key properties include:
+
+- Selected through a community vote weighted by STX holdings
+- Responsible for maintaining the security of the peg wallet
+- Ability to rotate their private keys for enhanced security
+
+### SIP-10 Token
+
+sBTC adheres to the SIP-10 (Stacks Improvement Proposal 10) standard for fungible tokens on the Stacks blockchain. This ensures compatibility with wallets and applications that support the SIP-10 standard.
+
+Understanding these concepts is crucial for grasping the overall architecture and functionality of sBTC. In the following sections, we'll explore how these concepts come together to create sBTC.
+
+Here's what we'll cover:
+
+1. [Core Features](core-features.md)
+2. [sBTC Operations](operations/README.md)
    - [Deposit](operations/deposit.md)
    - [Withdrawal](operations/withdrawal.md)
-4. [Peg Wallet UTxO](peg-wallet-utxo.md)
-5. [Clarity Contracts](clarity-contracts.md)
-6. [Auxiliary Features](auxiliary-features/README.md)
+3. [Peg Wallet UTxO](peg-wallet-utxo.md)
+4. [Clarity Contracts](clarity-contracts.md)
+5. [Auxiliary Features](auxiliary-features/README.md)
    - [Transaction Fee Sponsorship](auxiliary-features/fee-sponsorship.md)
    - [Signer Wallet Rotation](auxiliary-features/signer-wallet-rotation.md)
-7. [Security Considerations](security-considerations.md)
-8. [Future Development](future-development.md)
+6. [Security Considerations](security-considerations.md)
+7. [Future Development](future-development.md)