The DFINITY Foundation, a non-profit organization behind the development of the Internet Computer ecosystem, has announced the completion of the first phase of deploying ICP smart contracts on the Bitcoin network.
✅ Phase 1: Threshold ECDSA signatures (see demo)
🛠️ Phase 2: BTC <> ICP testnet
🛠️ Phase 3: BTC <> ICP full integration pic.twitter.com/KEfJpx0c8q
– DFINITY Foundation (@dfinity) January 9, 2022
In the first of three phases, the developers made it possible to generate the ECDSA threshold signatures used for Bitcoin transactions.
Further steps involve the creation of a testnet and the full integration of Internet Computer networks and the first cryptocurrency.
The team began work on “direct integration of the Internet computer with the bitcoin blockchain” in September 2021.
DFINITY mentioned the opinion of Vitalik Buterin, who supported the concept of a multi-chain ecosystem, but was pessimistic about the prospects for cross-chain bridges due to security problems.
According to the developers, their decision is fully consistent with the views of the co-founder of the second largest cryptocurrency in terms of capitalization.
Recall that in December, the Psychedelic studio announced the launch of an Internet protocol for the interaction of the Internet Computer network with the Ethereum blockchain.