Developers of the Internet Computer complete the first phase of integration with the Bitcoin blockchain.

The nonprofit DFINITY Foundation, which is advancing the Internet Computer ecosystem, announced the completion of the first phase of deploying ICP smart contracts on the Bitcoin network.

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1/ #BTC 🤝 #ICP direct integration (🚫🌉)@dfinity cryptographers & engineers hackin’ over holidays and weekends… phase 1 ✅ to unlock smart contracts on BTC

✅ 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

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In the first of three stages, the developers enabled generation of threshold signatures ECDSA, used for Bitcoin transactions.

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The next steps involve creating a testnet and the full integration of the Internet Computer network with the first cryptocurrency.

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The team began work on the ‘direct integration of the Internet Computer with the Bitcoin blockchain’ in September 2021.

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DFINITY noted Vitalik Buterin’s opinion, who supported the concept of a multichain ecosystem but pessimistically assessed the prospects of cross-chain bridges due to security concerns.

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According to the developers, their solution fully aligns with the views of the co-founder of the second-largest cryptocurrency.

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In December, the Psychedelic Studio announced the launch of the inter-network protocol to enable interaction between the Internet Computer network and the Ethereum blockchain.

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