Contracts

Smart contracts are coming to Bitcoin through Dfinity’s Internet Computer

Dfinity Foundation’s Internet Computer blockchain is bringing smart-contract capabilities to the Bitcoin (BTC) network, potentially opening the door to new use cases for the premier cryptocurrency. 

Internet Computer will utilize its so-called chain key cryptography to integrate with Bitcoin, paving the way for smart contracts with native BTC addresses that are hosted directly on Internet Computer, Dfinity Foundation announced Tuesday.

“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.

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The DFINITY Foundation Announces Internet Computer And Bitcoin Integration – Smart Contracts Come To Bitcoin

ZURICH–(BUSINESS WIRE)–The Internet Computer blockchain launched by the DFINITY Foundation will leverage new cryptography techniques to integrate with the Bitcoin network, resulting in smart contracts that directly operate on bitcoin balances for the first time. Related R&D work performed by DFINITY will be realized after the Internet Computer community passed a Network Nervous System (NNS) proposal on September 17 with 96.55% approval. It was already the 20,586th proposal sent to the NNS since the network launched in May.

Today, the Bitcoin network hosts almost a trillion dollars of value. However, the Bitcoin network does not currently host “Turing-complete”

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