Its smart contract season as Bitcoin, the largest cryptocurrency by market capitalization, is gearing up for a smart contract upgrade courtesy of Dfinity’s Internet Computer blockchain (ICB). The decision which received 96.55% approval on the platform’s native Network Nervous System (NNS) connection is the 20,586th since ICP broke into mainstream cryptocurrency ranks in May.
Following the trailblazing successes of Ethereum and more recently Cardano, Dfinity is looking to plug its upgraded mainstream network link known as ‘chain key cryptography’ to the Bitcoin blockchain network, thereby linking native ICB addresses to the BTC network and providing smart contract extensions that perfectly work on BTC addresses.
Dfinitiy’s boss, Dominic Williams added that: “The Internet Computer is powered by novel “chain key cryptography” that allows it to sign transactions for other blockchains such as Bitcoin.” when explaining the possible outcome of the infusion, Williams added: “the Internet Computer smart contracts will gain access to bitcoin liquidity, and Bitcoin will gain powerful new smart contract functionality, without the need for insecure and cumbersome trusted bridging services.”
