• The Internet Computer (ICP) will soon be integrated with Ethereum, according to Dfinity’s founder

  • Internet Computer (ICP) token holders can vote for or against the proposed integration with the Bitcoin (BTC) blockchain during a two-day voting period that began on September 15.

    The integration, according to the Dfinity Foundation, which is developing technology for the Internet Computer (ICP) blockchain, will result in Bitcoin transactions with quick finality and low transaction cost.

    BTC transactions are quick and inexpensive.

    “The DFINITY Foundation and Internet Computer Association (ICA) will refrain from early voting until the larger community of $ICP utility token holders has had a chance to vote on the proposal,” the non-profit organization announced on Twitter.

    If the proposal is approved, the Internet Computer community will add smart contracts to Bitcoin using Chain Key cryptography.

    This will directly connect the two networks, allowing smart contracts on the Internet Computer to store, send, and receive Bitcoin.

    “We want to enable fast and low-cost transactions by building ledger functionality on the Internet Computer that allows users to transfer Bitcoin into and out of accounts on this ledger, thereby creating wrapped Bitcoin on the Internet Computer,” according to the proposal, which also states that “holders of wrapped Bitcoin can settle their accounts at any time by having their account balance transferred to their Bitcoi account.”

    The Trinity of Blockchain

    Implementation, testing, and deployment will most likely take months, but direct integration with Bitcoin is scheduled for Q4 2021, according to the project’s current roadmap.

    “That is what we are aiming for. If we miss that deadline, I’m confident we won’t be far behind. “We have one of the best cryptography teams in the world, and much of what we do involves extending the chain key cryptography framework that already powers the Internet Computer,” Dominic Williams, Founder, President, and Chief Scientist of the DFINITY Foundation and Internet Computer project, told ULTCOIN365.

    Following Bitcoin, direct integration with Ethereum (ETH) will occur.

    “In general, we believe in a blockchain trinity consisting of Bitcoin, Ethereum, and the Internet Computer because they provide complementary functionality,” Williams said.

    “Having said that, we are completely open to suggestions for other integrations,” he added, commenting on the possibility of integrating with other blockchains.

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