Internet Computer Protocol (ICP) Expands Multi-Chain Integration with Solana
In an effort to foster the development of multi-chain applications, ICP has officially integrated the Solana network. Previously, the project successfully connected to Bitcoin and Ethereum, expanding the ability to host DeFi projects at lower costs and tap liquidity from these blockchains.
This groundbreaking collaboration makes it easier for developers to build dApps that integrate multiple chains, a strategic move amid increasingly fierce network competition in the cryptocurrency space.
ICP Fusion Technology: Optimal Cross-Chain Connection
The new approach uses ICP’s Fusion technology to directly connect to the world’s leading blockchains, such as Solana, without the need for traditional bridges. This solution reduces the risks associated with bridges and enhances the security of smart contracts. ICP’s canisters, a unique type of smart wallet, can flexibly interact with other chains, moving towards seamless DeFi integration.
In this, Chain Fusion plays a central role, providing powerful tools for developers to create advanced dApps, driving innovation in the blockchain community.
Benefits and Applications of Solana Integration
With this integration, applications on Solana can leverage ICP’s on-chain processing capabilities, offloading off-chain components. This brings speed advantages and lower operating costs to DeFi projects, helping to maximize breakthroughs in asset management and trading.
Furthermore, ICP opens up the possibility of absorbing liquidity from the ideal market, enhancing user experience and expanding the Web3 ecosystem, aiming to build a more comprehensive decentralized network.
Prospects for decentralized networks and scaling
Cross-chain migration is an important stepping stone for the Dfinity project towards building a decentralized and limitless Internet ecosystem. With the attraction of Solana, ICP is expected to expand its daily active users to 4.8 million, building on the network's recent success thanks to meme tokens and vibrant DEX activity.
Meanwhile, ICP is currently priced at around $5.12, maintaining its average position over the past month, ranking 190 based on activity and applications. Despite its low ranking, the potential for a revival and growth in a strong bull market is entirely possible, especially with DeFi and lending projects gaining more attention.
With over $167 million raised from reputable investment funds such as a16z and Polychain Capital, ICP plans to continue exploiting hot chains to expand DEX and lending activities, contributing to affirming its position in the global cryptocurrency ecosystem.
Source: https://tintucbitcoin.com/dfinity-ra-mat-tich-hop-solana-tren-icp/
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