Saturday, July 20, 2024

Internet Computer hopes to have BTC and ETH integrations in place.

The public protocol and blockchain Internet Computer released a vision document for 2022 as well as future years. It outlines plans for integrating with BTC and ETH before the year ending of 2022. Developers can install decentralized applications and smart contracts on this blockchain. The project was under development for several years and was introduced in 2021 by the nonprofit organization Dfinity in Zurich.

Other Planned Projects

Bitcoin integration is being introduced as a part of Satoshi Release, to be launched in 2022. The project will have Chain Key, the cryptography to connect smart contracts with the blockchain of bitcoin. It eliminates the requirements for the bridge that exposes the system to malicious acts. The Chain Key is a fundamental breakthrough, allowing the company to develop into millions of different nodes. The cryptographic protocols orchestrating Internet Computer nodes and their engine will make the operations possible.

Services Offered at This Blockchain

Smart contracts being held on this blockchain can send, receive and hold bitcoin without having the private keys. Its connection with ethereum will take place in the third quarter of 2022. It will be named Vanadium Vitalik Release. The company has not published more details about this integration. According to one of its officials, when someone transacts with bitcoin on Internet Computer, a change in the bitcoin ledger will take place. It will be different from what the traders see when using a bridge. The new solution will be similar to a wrapped BTC or ETH.

The company has plans to develop the multichain future. The goal is to improve user experiences by combining such networks directly.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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