Solana Joins ICP for Cross-Chain Smart Contracts

The DFINITY Foundation is the team behind the Internet Computer Protocol (ICP). It recently announced ICP’s integration with Solana. This connects the Ethereum, Bitcoin, and Solana blockchains. This eliminates the need for bridges or wrapping tokens. With ICP’s Chain Fusion technology, cross-chain interoperability becomes a fact. 

So, let’s take a closer look at how ICP and Solana integrate.

ICP Integrates with Solana

Before ICP integrated with Solana, it already integrated with both Bitcoin and Ethereum. This gives access to the DeFi ecosystems in all three chains. ICP’s canister smart contracts can now interact with these DeFi ecosystems. ICP’s smart contracts are also known as canisters. You can see them as the building blocks for dApps on ICP. 

ICP’s Chain Fusion allows these smart contracts to interact with various networks. This is ICP’s interoperability solution. It gives devs the opportunity to build multichain dApps with various use cases. For example, devs can build on Bitcoin whilst taking advantage of ICP’s speed. Ethereum still offers the biggest DeFi ecosystem. With ICP smart contracts, devs can add functionality to smart contracts on Ethereum. This also includes other EVM chains. 

Now ICP added Solana to this list. This allows for communication with the full Solana ecosystem. Chain Fusion doesn’t need bridges or wrapping. There’s also no need to migrate dApps onto ICP. Chain Fusion’s tech allows devs to extend and enhance their dApps in a secure and efficient way. Chain Fusion also makes sure that there’s no longer a single point of failure. Here’s a blog by DFINITY with a more technical view of the integration.

Source: ICP

So, to clarify, with this newest integration, you can swap $SOL straight into $BTC or the other way around. It’s also part of Chain Fusion’s roadmap. The Solana integration is part of their Helium milestone. ICP has plenty of more milestones scheduled in their general roadmap.

ICP also has an extensive ecosystem. This covers sectors, like, Chain Fusion, DeFi, Bitcoin, wallets, NFTs, or AI. Currently, 370 projects are active in ICP’s ecosystem.

Conclusion

ICP has now integrated three giants into the crypto sector. Solana was the missing part of the puzzle, that also includes Bitcoin and Ethereum. With ICP’s Chain Fusion, devs can build multichain dApps. There’s no more need for bridges or wrapped tokens. This way, ICP keeps building an impressive ecosystem.

The current $ICP price is $5.02. It has a market cap of $2.68 billion. However, it has an unlimited token supply. Nonetheless, it ranks 46th measured by market cap.

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