The Internet Computer project has revealed its roadmap for 2022 and beyond, indicating plans to launch integration between the Bitcoin and Ethereum blockchain by the end of the year.
The Internet Computer is a public blockchain. It is a protocol that allows developers to install smart contracts and decentralized applications (DApps) directly on the blockchain. It was launched in May 2021 after years of development by Dfinity, a Zurich-based nonprofit.
consolidation Bitcoin Direct will be launched as part of Dfinity’s “Chromium Satoshi Release” planned for Q1 2022, adding smart contracts to the Bitcoin blockchain using “Chain Key cryptography”, replacing the need for a bridge that It can be a network hack from hackers.
Berto Parga Pena, Dfinity Community Member explainthat Chain Key cryptography is “one of the fundamental innovations that enable Internet computers to scale to millions of nodes.”
“It’s a set of Cryptographic protocols that coordinates the nodes that make up the Internet Computer which is what drives and makes work happen.”
“Smart contracts on internet computers will be able to hold, send and receive Bitcoin without a private key,” Dfinity director of product Diego Prats said in a roadmap post on 29th. January
meanwhile Integration with Ethereum is slated for Q3 2022 with the “Vanadium Vitalik Release.” Dfinity has not released further details on the integration, but vice president of communications Michael Less said in an interview with Ethereum. Cointelegraph says
“So when you transact on the Internet computer with Bitcoin, it changes the Bitcoin ledger with what you currently see with a bridge. wrapped Bitcoin or wrapped Ether.”
In other words, Dfinity has chosen to prioritize these integrations to facilitate visibility. “The future of multi-chain,” he said, “if Bitcoin can last forever. What can we do to help? The answer is that the best user experience is to directly integrate all these networks.” In December, Dfinity launched smart contracts (called “Canisters” in the ecosystem) to balance ICP tokens. ICP currently supports up to 250,000 queries per second. It processes the final transaction in just 1-2 seconds.
“ICP on Canisters is a key feature that makes it work. And it would sound crazy to be directly combined with BTC and ETH,” Dfinity chief software engineer Kyle Peacock told Cointelegraph.
On January 28, Cointelegraph Internet Computer Blockchain Reportedly Welcomes Cryptocurrency Exchanges The first decentralized (DEX) exchange was called Sonic, with at least two other crypto exchanges at the event.
Upcoming Polychain Capital-backed DEX “InfinitySwap” It appears to be aimed at taking advantage of the upcoming integration with Bitcoin, as Lee revealed that will allow users to stake their BTC coins as a liquidity provider.
ICP token price up 56% in first 5 days of new year Amid the overwhelming positive news, however, it is one of the worst performing crypto assets in 2021, plunging 97% from a record high in May. And on January 4th, Binance announced that it will list a financial tool that will allow users to directly trade ICP to Ethereum tokens Ethereum (ETH).
The idea for this endless world of computing was inspired by Ethereum technologist Dominic Williams, founder and chief scientist at Dfinity.