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Internet Computer intends to execute BTC and ETH incorporations by the end of the year

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The planned Bitcoin and Ethereum integrations would eliminate the requirement for a link, which can expose the network to malevolent actors.

The Internet Computer has issued a roadmap for 2022 and further, stating that Bitcoin and Ethereum integrations will be available by the end of the year.

The Internet Computer is a public blockchain and protocol that enables developers to directly deploy smart contracts and decentralized applications (DApps) on the blockchain. Dfinity, a Zurich-based nonprofit organization, developed and introduced it in May 2021 after years of development.

Dfinity's "Chromium Satoshi Release," which is scheduled for Q1 2022, will include a direct Bitcoin integration. It will leverage "Chain Key cryptography" to integrate smart contracts to the Bitcoin blockchain, removing the requirement for a bridge that can allow malevolent players access to the network.

Chain Key cryptography, according to Dfinity community member Berto Parga Pena, 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.”

In a Jan. 29 roadmap release, Dfinity's Director of Product, Diego Prats, stated, "Smart contracts on the Internet Computer will be able to hold, send, and receive Bitcoin without the need for private keys."

However, the "Vanadium Vitalik Release" is planned for Q3 2022, which includes Ethereum integration. Dfinity has still to disclose any additional details related to the integration, but Michael Less, Vice President of Communications at Dfinity, discussed:

“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.”

Dfinity has focused these connections, says Less, to assist in realizing its idea of a “multi-chain future.” “If Bitcoin is going to be around forever, how do we actually provide? The best user experience is to combine all these networks directly," he said.

Dfinity allowed smart contracts (named "Canisters" in its ecosystem) to maintain their sums of ICP tokens in December. The ICP now facilitates 250,000 requests per second, with a transaction completion time of 1-2 seconds.

“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 released,” said Kyle Peacock, lead software engineer at Dfinity.

On January 28, it was revealed that the Internet Computer blockchain had received its first decentralized exchange (DEX), Sonic, with at least two more in the process.

The forthcoming Polychain Capital-backed DEX "InfinitySwap" seems to be positioning itself to benefit from this planned Bitcoin integration. Users will be able to stake their BTC as liquidity providers, according to Lee.

The ICP token gained 56% during the first 5 days of the new year after a burst of great news, but it was one of the worst-performing crypto assets in 2021, with a drop of 97% from it's all-time high in May. Binance announced on January 4 that it would launch a financial instrument that would allow traders to instantly exchange ICP for Ethereum's native token, Ether (ETH).

Dominic Williams, the Founder and Chief Scientist at Dfinity was encouraged by Ethereum technologist Dominic Williams to create an eternal global computer.



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