By
Steve Muchoki
June 14th, 2024
The ability of the new API to facilitate multi-chain DApps development, eliminate the need for bridges and wrapped tokens, and allow native chain interactions is a pivot from the existing tools.
Dfinity Foundation has launched a new API dubbed EVM RCP that would allow cross-chain interoperability for Internet Computer smart contracts. According to the announcement, made on Thursday, EVM RPC will ensure that ICP smart contracts can ditch intermediaries and still read and write on any Ethereum Virtual Machine-compatible chain like Optimism, Arbitrum, and Base.
Internet Computer Eyes Expansion to Solana Blockchain
The new API also extends support for the Bitcoin blockchain with plans to expand to Solana as it progresses. Consequently, Decentralized Applications (DApps) will gain from cross-chain liquidity and merging communities. This is in addition to the ease of handling API keys that the new offering presents, according to Lomesh Dutta, the Vice President of growth at Dfinity Foundation.
“We have added Optimism, Arbitrum and Base, [but] anyone can add other EVMs anytime,” Dutta added while also acknowledging the previous projects that Internet Computer has worked on.
He highlighted Bioniq, Bitfinity, and Omnity as some of the projects the protocol has hopped on with Bitcoin and Ethereum.
Noteworthy, Dfinity Foundation is keen on improving interoperability across several blockchains and this formed the basis for its Chain Fusion initiative. Therefore, achieving interoperability with Internet Computer is a significant milestone for the company. In line with this, getting Internet Computer to interact with the Solana blockchain is one of the upcoming projects for the ecosystem.
The ability of the new API to facilitate multi-chain DApps development, eliminate the need for bridges and wrapped tokens, and allow native chain interactions is a pivot from the existing tools.
“This way, DFINITY’s Chain Fusion technology enables true multi-chain interoperability, allowing developers to write a single ICP smart contract that can custody Bitcoin, for example, and programmatically trigger sending it based on events observed on an Ethereum DeFi smart contract,” Dfinity wrote in its published announcement.
Uses Case for Internet Computer’s EVM RCP
According to Dominic Williams, Dfinity Foundation’s Chief Scientist and Founder, Internet Computer is the “only third-generation” blockchain that is capable of powering a new internet era where all online activity is completely on-chain. Dfinity Foundation claimed to have registered results from the utilization of the new API.
The firm explained that the new API facilitated the deployment of ckUSDC, an interoperable stablecoin pegged 1:1 to Circle’s USDC stablecoin, on the ICP network.
Notably, the launch of the API comes only a few days after Dfinity Foundation revealed its roadmap for Internet Computer. The roadmap detailed nine areas to ensure a sustainable future for the project. This includes decentralized Artificial Intelligence (AI), developer experience, on-chain privacy, chain fusion, compute platform, platform decentralization, digital assets, and identity, among others.
During this briefing, it clearly stated that the ICP ecosystem will be able to interact with the Ethereum network through its legendary EVM. Similarly, the intention of the ICP network to connect with the Bitcoin and Solana ecosystems was also made public. It appears that the Dfinity Foundation is pulling efforts into achieving this roadmap in no time.