Dfinity
Foundation
has
introduced
a
new
API
called
EVM
RPC
to
enhance
cross-chain
interoperability
for

Internet
Computer
(ICP) 
smart
contracts,
according
to
a
May
23
press
statement
shared
with

CryptoSlate.

EVM
RPC
allows
ICP
smart
contracts
to
read
and
write
on
any

Ethereum
Virtual
Machine-compatible
chain,
such
as
Optimism,

Arbitrum,
and
Base,
without
relying
on
intermediaries.
The
API
also
supports
the

Bitcoin
blockchain
and
will
soon
expand
to

Solana.

This
API simplifies
multi-chain
dApp
development
and
eliminates
the
need
for
bridges
and
wrapped
tokens.
It
allows
native
chain
interactions
and
liquidity
facilitation
through
the
network
API
keys.

Dfinity
highlighted
the
significance
of
this
innovation,
stating:

“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.”

Interoperable
stablecoin

Dfinity
Foundation
explained
that
the
new
API
has
facilitated
the
deployment
of
ckUSDC,
an
interoperable
stablecoin
pegged
1:1
to

Circle’s
USDC
stablecoin,
on
the
ICP
network.

USDC
is
the
second-largest
stablecoin
with
a
market
capitalization
of
$32.83
billion,
according
to

CryptoSlate’s

data.

The
ckUSDC
token,
a
multi-chain
“twin”
of
USDC,
leverages
chain-key
cryptography
and
ICP
smart
contracts
that
directly
hold
original
assets.
It
operates
similarly
to
ICP’s
other
inter-ecosystem
tokens,
like
ckBTC
and
ckETH.

 

Since
its
launch,
ckUSDC
has
gained
traction
with
notable
projects
such
as
IC
Lighthouse,
ICPSwap,
and
Helix
Markets,
reflecting
growing
demand
for
this
type
of
token.

Lomesh
Dutta,
DFINITY’s
Growth
President,
remarked
that
the
launch
of
ckUSDC
and
the
new
read/write
APIs
will
foster
further
development
within
ICP’s
ecosystem.
He
said:

“With
the
addition
of
ckUSDC
and
read/write
APIs,
dozens
of
different
chains
can
now
leverage
ICP
smart
contracts
to
freely
interact
with
other
networks,
making
the
Web3
ecosystem
massively
more
interoperable
and
unified.”

Mentioned
in
this
article

Go to Source
Author: Oluwapelumi Adejumo

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