Dfinity Foundation has introduced a new API called EVM RPC to enhance cross-chain interoperability for Internet Computer (ICP) 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 intermediaries. The API also supports the Bitcoin blockchain and will soon expand to Solana.This API simplifies 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.Dfinity highlighted the significance of this innovation, stating:“This way, DFINITY’s 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.”Dfinity Foundation explained that the new API has facilitated the deployment of ckUSDC, an interoperable stablecoin pegged 1:1 to Circle’s USDC stablecoin, on the ICP network.USDC is the second-largest stablecoin with a market capitalization of $32.83 billion, according to CryptoSlate’s data.The ckUSDC token, a multi-chain “twin” 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.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.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:“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.”Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting. Follow us on X for your essential dose of daily crypto news and deep dives.Turing completeness and beyond: Ethereum, ICP, Polkadot, Cardano, and SolanaAll tokens embroiled in SEC’s scrutiny, however, see mixed fortunes against Bitcoin amidst legal turmoil.Dfinity noted a growing concern of “greenwashing” in the blockchain industry as most networks claim to be the most sustainable.Dfinity says Meta’s use of the logo could bring harm to its reputation.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
