DFINITY launches API to enhance blockchain interoperability

As an experienced blockchain analyst, I am thrilled about DFINITY’s latest announcements regarding the launch of their EVM RPC and the new stablecoin, ckUSDC. These innovations mark significant progress towards fostering interoperability across multiple blockchains and expanding decentralized finance (DeFi) utility within the Internet Computer ecosystem.

On May 22, the DFINITY Foundation, recognized for its advancements with the Internet Computer blockchain, unveiled the introduction of the EVM RPC (Remote Procedure Call) and the debut of a new stablecoin named ckUSDC.

As a researcher exploring the advancements in this field, I’d express it this way: These new developments are designed to promote seamless communication between various blockchain networks and enhance the functionality of decentralized finance (Defi) applications within the ecosystem.

“Lomesh Dutta, DFINITY’s VP of Growth, noted that with the Tritium achievement and the compatibility of Internet Computer smart contracts with Ethereum JSON-RPC, these contracts can now interact with any blockchain that adheres to this protocol.”

JSON-RPC, which stands for JavaScript Object Notation-Remote Procedure Call, functions as a communication protocol for transmitting instructions and obtaining results in a uniform manner across various operating systems. It employs JSON, a streamlined data representation format, to encode messages.

The latest update from DFINITY makes it easier for developers to create multi-chain decentralized applications (dApps) that work directly with blockchains like Optimism, Arbitrum, and Base, using the simplified EVM RPC provided by DFINITY. This means that additional Ethereum Virtual Machines (EVMs) can be added as needed for expanded functionality.

By introducing these new offerings, DFINITY strives to enhance blockchain connectivity and trading fluidity among diverse groups. Preliminary responses from pioneering users like IC Lighthouse and Helix Markets underscore its ability to streamline procedures and seamlessly link multiple platforms.

As a financial analyst, I’d describe it this way: I’m excited to share that DFINITY has recently introduced a new stablecoin named ckUSDC. This stablecoin is directly linked to USD Coin (USDC) and seamlessly integrated into the Internet Computer network. By doing so, users can now access USDC’s stability and reliability within the DFINITY ecosystem.

As a “twin token,” ckUSDC functions similarly to other stablecoins, providing a means of exchange and value storage with the added advantages of faster transactions and lower costs associated with the Internet Computer (ICP) network. It facilitates trading pairs such as ckBTC/ckUSDC, ckETH/ckUSDC, and ICP/ckUSDC, ensuring secure transactions between various blockchains.

DFINITY seeks to promote broader usage of ckUSD among developers and users by enabling community-proposed additions of ERC20 counterparts on the Internet Computer network.

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2024-05-23 18:14