ICP’s 2022 roadmap includes Bitcoin and Ethereum integrations

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The Dfinity Foundation’s Internet Computer Blockchain has outlined its plan for the year 2022 aimed at overcoming the limitations of traditional blockchains and smart contracts for better speed, storage costs, security and scalability.

Inbound BTC and ETH integration

The Internet Computer is a public blockchain that allows developers to install smart contracts and decentralized applications (DApps) directly on the blockchain. The protocol was launched in May 2021 after years of development by Dfinity, a not-for-profit company based in Zurich.

In line with ICP’s 2022 roadmap, Bitcoin integration is expected to launch as part of the “Chromium Satoshi version” of Dfinity, in the first quarter of 2022. This upgrade will include the addition of smart contracts to the blockchain Bitcoin using “Chain Key cryptography” technology. which eliminates the need to use a bridge. This will aim to make the network more secure, as bridging can open the network to malicious actors.

That said, a blog from the organization further stated that smart contracts on the Internet computer “will be able to hold, send, and receive Bitcoin, without the need for private keys.”

On the other hand, integrations with Ethereum are expected to roll out in Q3 2022 with the “Vanadium Vitalik Release”. Further details on ETH integrations are expected from Dfinity.

Growth of ICP

Just a few days ago, on January 29, ICP achieved a record 2 million transactions showcasing a more vibrant network. Additionally, the protocol’s burn rate has gone parabolic, with over 18,000 ICPs burned since Genesis launched in Q2 2021.

Source: PCI Twitter

In terms of price, however, ICP’s trajectory has been more or less stagnant, with the altcoin hovering at $19.14, noting a nearly 6% drop in price over the past day.

Additionally, ICP is down 96.10% from its all-time high of $491.02 in May 2021. The altcoin’s short-to-medium term investment returns against the USD saw negative returns . Notably, ICP’s three-month ROI against USD at press time was -59.95%.

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