Internet Computer in plans to roll out Bitcoin and Ethereum integrations by year-end

The integrations with Bitcoin and Ethereum would displace the need to use a bridge. which can open the network up to malicious actors.

Internet Computer in plans to roll out Bitcoin and Ethereum integrations by year-end

The internet Computer has published a roadmap for 2022 and beyond, Bitcoin and Ethereum by the end of the year, indicating plans to roll out integrations.

The blockchain and protocol allow 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 is a nonprofit located in Zurich. 

The Bitcoin integration will be published as part of DFinity's "Chromium satoshi stated," which is planned for Q1 2022. it will add smart contracts to the Bitcoin blockchain using displacing the need to use a bridge that can open the network up to malicious actors. 

Berro Parga Pena is a Dfinity community user who that explains Chain key cryptography is "one of the fundamental breakthroughs enabling the internet Computer to scale to millions of nodes."

“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 will be able to hold, swape Bitcoin, without the need for private keys," stated Director of Product at Dfinity, Diego Prats, in a Jan 29 roadmap post. 

Between, integration with Ethereum is stated for Q3 2022 "Vanadium vitalik published" Dfinity is yet to publish any further details about the integration, Vice President of Communications, Michael Less, stated

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

Dfinity has chosen to prioritize these integrations to help facilitate its vision for a "multi-chain future." He said, "if Bitcoin is going to be around forever, how do we provide? The best user experience is to combine these networks directly."

Dfinity enabled smart contracts to hold their balance of ICP tokens. The ICP presently supports 250,000 queries per second, executed with 1.2 per second transactions finality. 

"ICP on Canisters was the important feature that made it viable, and it will probably go crazy once direct integration with BTC and ETH are stated," 

Internet Computer blockchain had welcomed its first decentralized exchange (DEX) Sonic, with at least two other exchanges in the works. 

According to Lee, Polychain Capital-backed DEX "infinity wrap" appears to be orienting itself to capitalize on this upcoming integration with Bitcoin.  it will allow users to stake their BTC as liquidity providers. 

The ICP token rose 56% in the first five days of the new year amid a flurry of optimistic news, it was one of the worst-performing crypto assets in 2021 decreasing 97% from its May all-time high on Jan 4, Binance declared that  list a financial instrument that would enable traders to directly swap ICP to and from Ethereum's native token Ether (ETH)

Dominic Williams, who became Founder and Chief Scientist at Dfinity the idea for a perpetual world computer was inspired by Ethereum technologists. 

Read: Ark Invest predicts ETH to hit $20 trillion market cap by the year 2030