{"id":421011,"date":"2024-05-24T00:20:54","date_gmt":"2024-05-23T23:20:54","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=421011"},"modified":"2024-05-24T00:20:54","modified_gmt":"2024-05-23T23:20:54","slug":"dfinitys-new-api-boosts-internet-computer-smart-contracts-with-cross-chain-prowess","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/dfinitys-new-api-boosts-internet-computer-smart-contracts-with-cross-chain-prowess\/","title":{"rendered":"Dfinity&#8217;s new API boosts Internet Computer smart contracts with cross-chain prowess"},"content":{"rendered":"<p>Dfinity Foundation has introduced a new API called EVM RPC to enhance cross-chain interoperability for <a href=\"https:\/\/cryptoslate.com\/coins\/internet-computer\/\">Internet Computer<\/a> (ICP)\u00a0 smart contracts, according to a May 23 press statement shared with <em>CryptoSlate<\/em>.<\/p>\n<p>EVM RPC allows ICP smart contracts to read and write on any <a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a> Virtual Machine-compatible chain, such as Optimism, <a href=\"https:\/\/cryptoslate.com\/coins\/arbitrum\/\">Arbitrum<\/a>, and Base, without relying on intermediaries. The API also supports the <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a> blockchain and will soon expand to <a href=\"https:\/\/cryptoslate.com\/coins\/solana\/\">Solana<\/a>.<\/p>\n<p>This API\u00a0simplifies 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.<\/p>\n<p>Dfinity highlighted the significance of this innovation, stating:<\/p>\n<blockquote><p>&#8220;This way, DFINITY\u2019s 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.&#8221;<\/p><\/blockquote>\n<h2 class=\"s3\"><span class=\"s2\">Interoperable stablecoin<\/span><\/h2>\n<p>Dfinity Foundation explained that the new API has facilitated the deployment of ckUSDC, an interoperable stablecoin pegged 1:1 to <a href=\"https:\/\/cryptoslate.com\/companies\/circle\/\">Circle's<\/a> USDC stablecoin, on the ICP network.<\/p>\n<p>USDC is the second-largest stablecoin with a market capitalization of $32.83 billion, according to <em>CryptoSlate's<\/em> <a href=\"https:\/\/cryptoslate.com\/coins\/usd-coin\/\">data<\/a>.<\/p>\n<p>The ckUSDC token, a multi-chain &#8220;twin&#8221; 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.<\/p>\n<p>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.<\/p>\n<p>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:<\/p>\n<blockquote><p>&#8220;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.&#8221;<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Dfinity Foundation has introduced a new API called EVM RPC to enhance cross-chain interoperability for Internet Computer (ICP)\u00a0 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 [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":421066,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[72190,77392,76812,77702],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dfinity&#039;s new API boosts Internet Computer smart contracts with cross-chain prowess<\/title>\n<meta name=\"description\" content=\"Internet Computer smart contracts gain multi-chain capability with new API connecting it to EVM-compatible blockchains.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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