Internet Computer To Launch ETH, BTC Integrations By Year-End

Internet computer to launch BTC and ETH integrations by the end of the year and they can displace the need to use a bridge that can open the network for malicious actors so let’s find out more in our latest cryptocurrency news.

The Internet computer to launch these integrations that were mentioned in a roadmap for 2022 and beyond as well as other plans by the end of the year. The Internet Computer is a public blockchain and protocol that allows developers to install smart contracts and Dapps on the blockchain. It was incubated and launched in May 2021, after many years of development by Dfinity. The direct BTC integration will be launched as a part of Dfinity’s Chromium Satoshi Release which is planned for the first quarter of the year and will see adding smart contracts to the BTC blockchain using Chain Key cryptography and displace the need to use a bridge that can open the network up to the malicious actors.

The #ICP 🤝 #BTC integration will prompt a new wave of DeFi applications built to leverage the world’s largest cryptocurrency.

👓 Full story:https://t.co/kexreQTw20 pic.twitter.com/bQkKdel7r5

— DFINITY Foundation (@dfinity) January 27, 2022

Dfiity’s community member Berto Parga Pena explained that the Chian Key cryptography is one of the fundamental breakthroughs that enable the Internet Computer to scale millions of nodes. The director of product Diego Prats noted:

“It is a set of cryptographic protocols that orchestrate the nodes that make up the Internet Computer and the engine that drives it and makes its operation possible. Smart contracts on the Internet Computer will be able to hold, send and receive Bitcoin, without the need for private keys.”

In the meantime, integration with Ethereum is slated for the third quarter of the year with the “Vanadium Vitalik Release” and Dfinity is yet to publish more details about the integration but the Vice President of Communications, Michael Less explained:

“So when you make a transaction on the internet computer in Bitcoin, it actually changes the Bitcoin ledger versus what you see today, with a bridge. It’s like a wrapped Bitcoin or wrapped Ether.”

He continued that Dfinity chose to prioritize these integrations to help facilitate the vision for a multi-chain future and said:

 “If Bitcoin is going to be around forever, how do we actually provide? The best user experience is to combine all these networks directly.”

1/ 📢 Announcing the new post-Genesis roadmap to ensure #InternetComputer remains the most powerful general-purpose blockchain for building infinitely scalable Web3 dapps

Titanium: Mid Q1
Chromium: End Q1
Carbon: Q2
Vanadium: Q3
Iridium: Q4
Futurium: 2023https://t.co/WHpU4dkHqk

— DFINITY Foundation (@dfinity) January 28, 2022

Dfinity enabled smart contracts to hold their own balances of ICP tokens which now supports 250,000 queries per second. The Upcoming Polychain Capital-backed DEX InfinitySwap seems to be orienting itself to capitalize on the upcoming integration with BTC and according to Lee, it will allow users to stake their BTC as liquidity providers.

Source: https://www.dcforecasts.com/bitcoin-news/internet-computer-to-launch-eth-btc-integrations-by-year-end/