ICP developer team confident with its smart contract plan on Bitcoin network

ICP developer team confident with its smart contract plan on Bitcoin network 6

Dfinity foundation confirmed that they will introduce a real smart contract feature on the Bitcoin network.

Dfinity foundation is a non profit organization behind the ICP (internet computer protocol) crypto project. However this project is highly confident withs its own initiative to bring a better ecosystem to Web3 initiatives but beside all these things they are working on the Bitcoin network to push the real adoption of Bitcoin like Ethereum. 

In the past, Dfinity foundation confirmed that they are actively working on the Bitcoin network to add smart contract features directly on the Mainnet. 

Once again on 5 March Dfinity foundation confirmed that its development works on the smart contract feature on bitcoin network will be real, instead of tokenized form of Bitcoin use like WBTC or BTCB. 

“developers will have the capability of building smartcontract centred around actual BTC. This is different from the other networks like ETH or Binance Smart Chain, wherein Bitcoin is wrapped in WBTC & BTCB.

Dfinity foundation confirmed that it will introduce a smart contract system that will work totally under the control of the real private key of Bitcoin, in which users will be able to insert and provide actual Bitcoin liquidity. 

“the internet computer uses Bitcoin directly. Other networks issue a token that represents a claim on actual Bitcoin. This will allow the users to retain access to their private key using BTC in the lending and Liquidity providing smartcontracts.”

However these efforts of Dfinity are showing that they are going to push the adoption of real bitcoin but majority of the users responded to this tweet of Dfinity and claimed that native token of Dfinity, ICP, is shitcoin and also one person claimed that it is a kind of FUD. 

The current price of ICP is $17 and this price is down by 44% over the last 3 months, so frustration is usual but here it will be a matter of time, when Dfinity will introduce a real Bitcoin network based smart contract system.

Read also: Binance to reopen euro and pound bank transfers

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