Smart contracts are coming to Bitcoin through Dfinity’s Internet Computer
PHOTO from: COINTELEGRAPH
Efforts to expand Bitcoin’s functionality for payments, smart contracts and Web 3.0 are well underway, opening the door to wider mainstream adoption.
Internet computer’s Bitcoin integration will happen through it’s chain key cryptography, which will in essence give Bitcoin a lot more different use cases.
“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,” explained Dominic Williams, the founder and chief scientist of Dfinity Foundation.
The smart contracts on ICP will have things like BTC addresses, featured on their program which will give them direct access to transactions taking place on the Bitcoin blockchain.
Although Bitcoin has not accomplished everything outlined in the whitepaper published by Satoshi Nakamoto, BTC has still proven itself to be a superior preservation of wealth.
The integration will ultimately help Bitcoin maintain being that preservation of wealth and keep up with the innovation happening every single day in the cryptocurrency industry.