The developer of the "ICON" project announces the creation of a protocol for dealing with the "Polkadot" system
Cryptocurrency prices continue to grow and rise, as do the ongoing development processes in many different blockchain projects that are looking at ways of interoperability and support for expansion and inclusiveness.
Recently, a group of "BTP" developers - which is a blockchain transport protocol, which is the same group of developers that make up the core team of the "ICON" project - announced the first integration of "BTP" with the "Polkadot" system.
The “Acala”, “Moonbeam”, “Edgeware” and “Plasm” layers, which are four of the top two candidates in the Polkadot system, will be integrated into the “ICON” BTP solution, allowing developers to build complex applications to take advantage of various Blockchain infrastructures.
Although blockchain technology has come a long way, blockchain solutions are still limited in that they need intermediaries or third parties to communicate with other networks.
Since most blockchain infrastructures depend on other centralized systems to communicate with other networks, achieving the primary goal of decentralization becomes impossible.
Polkadot, ICON, and the BTP Working Group are building interoperability solutions for cross-network decentralized applications, allowing developers and participants to network and explore opportunities available on interconnected networks and their ecosystems.
Mr. Scott Smiley, Director of Strategy for the ICON project, stated:
- ICON is excited to collaborate with Bolcadot because we have similar ideals for a multi-networked and multi-community world.
- The unique aspect of these mergers is the decentralized security that is achieved through encryption rather than other similar technologies that rely on trusted third parties.
- The potential of this technology is limitless, but at the beginning, we will focus on the token transfer potential of Defi solutions across different blockchain networks.
Polkadot and ICON integration:
The integration of the Bulcadot-compatible Defi decentralized financing system allows all four parachute applications to interact directly with ICON and any other network supported by the BTP protocol and system.
ICON applications such as “Omm. finance”, “Balanced. Network” and “Optimus. finance” can easily add Parasian Bulcadot digital currencies and vice versa.
At the end of 2021, ICON plans to announce several additional use cases and partnerships involving decentralized applications built across different blockchain networks, such as cross-network revenue aggregators, NFT markets ...
Earlier this month, “ICON” announced the creation of a “BTP” to realize the ultimate “ICON” vision.
- "BTP" is a decentralized data transfer protocol that works over blockchain networks that allows smart contracts to interact over networks, and to transfer cryptocurrencies and NFTs over networks ...
- The "BTP" protocol provides advantages to holders of the "ICX" digital currency by allowing the purchase of many digital currencies at a reduced price through the auction process.
- Integration with Bolcadot will launch in its beta version by the end of the second quarter of 2021.