The #Dfinity Foundation, which made a substantial contribution to the growth of the Internet Computer network, released #ckBTC on Monday. It is a liquid and affordable "twin" token that is backed exactly one to one by #bitcoin (BTC).

With the addition of layer-2 capabilities, bitcoin can now transact more quickly and cheaply without sacrificing security. A secondary framework or protocol that is added on top of an existing blockchain system is referred to as a layer 2.

Without relying on centralized bridging services, which are a major security problem in the larger crypto ecosystem, ckBTC can be utilized on #decentralized finance (DeFi) applications on supported networks by connecting directly with the Bitcoin network.

Dominic Williams, founder at Dfinity said:

“ckBTC means low transaction fees, speed, and, most importantly, no bridges.”

He added:

“This is a milestone in the Bitcoin journey, and the Dfinity Foundation is excited to see how projects building on the Internet Computer blockchain implement ckBTC and explore novel use cases.”

Yet, even if bitcoin integration opens up a wide range of possibilities, it also carries over the network's pricey and lengthy transaction times. To counter this, Internet Computer reduced Liquid Bitcoin fees to just 0.0000001 ckBTC, or a few cents, a considerable reduction from the cost of the Bitcoin network.

Users contribute actual bitcoin to their deposit address and receive an equal amount of ckBTC, unlike wrapped tokens, which are managed by a centralized company. ckBTC employs canisters, smart contracts for asset transfers, and does not require intermediaries or hazardous cross-chain bridges. Users can also exchange their ckBTC tokens for actual bitcoin at a predetermined bitcoin address by returning them in an equivalent amount.

Because of the popularity of the recently introduced Ordinals protocol, which enables non-fungible tokens (NFT) to be held on-chain, Bitcoin network activity reached a two-year high in February.

Since then, Bitcoin layer 2 protocols like Stacks have become more popular; in March, STX tokens were among the best performers, indicating a desire for comparable protocols.

This news is republished from https://coinaquarium.io/

Gmgmgmgm!

Welcome to the newest episode of @IshaaqZiyan's Article series.

Although I mostly publish my articles on #ICP and #Dfinity here comes a new one.

As blockchain technology has taken thousands by storm (including both of us, which is why we are obviously here), still most of the people are here for the gains.

But If you are here for the Vision, which is to BUIDL #PermissionlessMoney this guide is for you😍

Enough of the chitchat, let's get started.

Buckle up your seatbelts, as we take of to the moon🚀🌕

Here are some key tips for you to get started.

Understanding Blockchain Technology:

Start by grasping the fundamentals of blockchain technology.

start learning about distributed ledgers/systems, consensus algorithms, smart contracts, and the decentralized nature of blockchain networks.

Example:

Go search on how blockchain oracles like $LINK and #DeFi apps such as $UNI and $CAKE works.

Mastering Programming Languages

To become a blockchain developer, you need to be proficient in programming languages commonly used in blockchain development. Focus on languages such as:

Solidity: Essential for smart contract development.

JavaScript: Used for building decentralized applications (DApps) on various blockchain platforms, primarily used by projects like $MATIC

Go: Commonly used in blockchain projects like $AVAX

C++ : Used by OG 1st gen blockchains like $BTC and $XRP

Rust: Is the OG programming language used to develop blockchains such as $ICP $DOT and $EGLD

Move: The newest dude in the town, which was initially developed for the Diem project by facebook.

While, the project was abandoned initially, the core team split in to two, where Aptos Labs builds $APT and Mysten Labs builds $SUI

Study some Blockchain related Libraries

Web3.js is a prominent JavaScript library that enables interaction with the Ethereum network.

Learn how to use Web3.js to connect front-end applications to the blockchain, read and write data to smart contracts, and handle events.

In Addition, explore other blockchain libraries such as bitcoin.js, ethers.js, hardhat and other frameworks that can be used to simplify development tasks.

Start developing your own DApps:

DApps are decentralized applications that interact with blockchain networks. Gain knowledge of decentralized application development frameworks, such as Truffle and Hardhat, how to create front-end interfaces, integrate with smart contracts, and handle user interactions.

knowing to make simple applications such as a simple DAO, an NFT marketplace will add great value.

5.Security and Testing

Understand the importance of security in blockchain development. Explore best practices for writing secure smart contracts, preventing common vulnerabilities, and conducting thorough testing using tools like Truffle, Ganache, Hardhat or Remix.

Get some hands-on knowledge by trying to create simple attacks in a sandbox environment such as the DAO attack.

Stay updated on security audits and industry standards.

Blockchain Integration.

Learn how to integrate existing systems and applications with blockchain networks.

Understand concepts like off-chain data storage, oracles, and interoperability protocols.

Explore technologies like $ICP and $EGLD to enable seamless integration between different blockchains.

Continuous Learning:

Stay updated with the rapidly evolving blockchain industry.

Follow blockchain blogs, attend conferences, join online communities, and participate in blockchain-related projects.

BitcoinConference and ETHDenver are some great conferences out there ;)

Engage with other developers to share knowledge and learn from their experiences.

8.Building a Portfolio

To showcase your skills, develop a portfolio of blockchain projects you have worked on.

Highlight your contributions, showcase your smart contracts, and demonstrate your ability to develop functional DApps.

A strong portfolio will enhance your credibility when seeking blockchain development opportunities.

Optionally, you can contribute to the codebases directly by submitting pull request.

Here we come to the end of the rollercoaster🤩

Hope you guys enjoyed this short thread of mine, although blockchain development is an ocean which cannot be discussed via such a a small thread.

anyways, see you on the otherside as a blockchain developer!

until then, LFG🚀

#Binance #crypto2023

Hello folks!

Apologizes for the delay on this months' update 😢, but its finally here today!

Welcome to the newest episode on the #Dfinity Global R&D, is which the Dfinity Foundation uses to communicate key updates on what they have been building so far since the last R&D meeting.

If you are new here, the DFINITY Foundation is the Swiss -nonprofit that is building the #ICP Blockchain.

Okay, Let's get started.

Community Demo on Orally Network By Ihor Verkhohliad @ORally

In this section, Ihor explains how Orally is using the capabilities of the IC in order to build 100% on-chain oracles.

Credits: DFINITY

here are few diagrams on how Orally works.

Orally Design Explained

Orally Design Explanation Continued

Composite Queries Were Introduced to the IC By Stefan Kaestle @DFINITY

Composite Queries are introduced as they improve call latency in a multi-canister architecture.

Also, seems to be a highly requested component from the community is finally out :)

Thanks to composite Queries, even queries can make calls through the IC😱

Here are few infographics which I was able to capture for you in context of Composite Queries :)

Stefan did a great explanation on this, which is revolutionary indeed😎

Stefan's Explaination-1

Stefan's Explaination-2

Increased Throughput On the IC By Alexandru Uta @DFINITY

Despite Infinite Scalability, DFINITY has announced plans to increase throughput on the IC😱

here are few infographics I snipped out from the meeting for those lazy readers out there ;)

What does this mean? Explained by Alex

How this will be achieved? Explained by Alex

This is indeed a massive milestone on the IC😎

Finally, Alex explained what is the status of this implementation, and will be available in the next 2 weeks😱 on mainnet.

Here's a quick overview on its status👇

Credits: DFINITY

Wasm-native stable memory By Adam Bratschi-Kaye @DFINITY.

In this section, Adam explained how Wasm (webassembly)-native stable memory will be implemented into canister smartcontracts.

Here is a quick overview on how this will be implemented👇

Adam explaining the process

Here's the QR code for voting for the proposal on the DFINITY forum as well.

QR for voting

Adam further explains its design

Updates on Motoko By Luc Bläser @DFINITY

Motoko, is the native language designed by DFINITY itself to serve canister smartcontracts.

Now, they have deployed an incremental garbage collector for Motoko in order to achieve scalability.

This is done by using full heap space🔥

Luc Explaining the functionality

Here are the results after the deployment🔥

Credits: DFINITY

Here's how you can try this functionality, which seems to be pretty cool😎

Credits: DFINITY

SNS Testing By Arshavir Ter-Gabrielyan @DFINITY.

Here Arshavir explains how SNS (Service Nervous System) testing can be done :)

Credits: DFINITY

Ecosystem Achievement🤩

Helix, A prominent DEX on the IC has won the rising star award, at the crypto valley conference which was held at Zug, Switzerland.

Dr. Jan announces the achievement

Internet Computer BUIDL $BTC hackathon just ended, everyone are invited to join the prizegiving🤗

Credits: DFINITY

DFINITY has announced the ICPLab Gaming and Metaverse workshop, interested users are required to sign up before the 7th of July in order to ensure participation🤗

Credits: DFINITY

Finally, here are the upcoming ICP events in this month of July🔥

list of events

Here we come to the End of this month's R&D meeting summary🙂

Hope you found this insightful as well.

As always, Make sure you smash that like button, and share this with your #BTC #Ethereum and #ICP friends as well as a support for my hard work!

Until the next one, LFG🚀

$BTC x $ICP

Hello Folks!

Here I present you the summary of the #Dfinity R&D meeting which was held yesterday for the month of April, so you can get a brief overview of the improvements around the ICP ecosystem.

The R&D meeting is the monthly event that Dfinity uses to announce special updates and improvements they have done to the IC.

This is held every 4 weeks on Wednesdays.

Let's Dive In👇

SNS (Service Nervous System) Updates

#SNS section has been fully implemented in the #ICP dashboard.

As of press time, OpenChat had 131 proposals and 60k Token transfers while SNS-1 had 45 proposals and 146k token transfers.

ICPCOINS website has been launched as a community effort, to showcase the price action of ICP ecosystem tokens.

Neuron-gated chatgroups were introduced on Openchat.

Automated SNS canister implementation is introduced.

SNS launchpad allows proposals to add Geo-restrictions for Decentralized token sales as a solution to address regulatory scrutiny.

High-level spam protection will be added to the NNS and Dfinity will be voting in the last stages on each proposal.

ckBTC Updates

Anybody can now convert #ckBTC into #BTC .

ckBTC supply has grown to 59.3 ckBTC since launch.

ckBTC can be used for tipping BTC on DSCVR and OpenChat.

Fundraising and Investing in ckBTC are now enabled across the IC.

Proof Of Green

This emphasizes the IC's commitment to being a much more green-friendly blockchain.

ICP's carbon footprint report has been launched.

real-time carbon emissions are displayed on the Internet Computer dashboard.

Zama Collaboration

Dfinity has announced that they will start a collaboration with Zama, a research company focusing on developing state-of-the-art FHE(Fully homomorphic encryption) in order to bring privacy to the ICP blockchain using threshold key derivation.

Improvements in the Blockchain

Exchange Rate canisters are introduced.

A feedback board has been introduced for the developers.

BUIDL Bitcoin hackathon was announced.

So, here we come to an end. hope you enjoyed my TLDR and stay tuned with me for the latest updates on the #BlockchainSingularity 😎

Summary👇

The SNS (Service Nervous System) was introduced.

Openchat announced its SNS Launch and Decentralized Sale

The aggregated Canister was introduced to the IC

Some improvements were added to the ICRC-2 Token Standard

Garbage collector functionality for the #motoko language has been implemented

SNS local handling improvements are introduced By caching signature verification, certification optimizations, and adding an aggregated canister for the SNS. 

Finally, the participation and things around #ETHDenver Were discussed.

This comes to the end of the summary, until next time🫡

#ICP #Dfinity #BlockchainSingularity #WorldComputer

Hello folks!

Welcome to the newest episode on the #Dfinity Global R&D, which the Dfinity Foundation uses to communicate key updates on what they have been building so far since the last R&D meeting.

If you are new here, the DFINITY Foundation is the Swiss -nonprofit that is building the #ICP Blockchain.

Okay, Let's get started.

Feedback board update by Dr. Jan Camenisch

Dr. Jan announced that there is a new feedback board available for the community members which can be accessed by scanning the following QR code.

Source: Global R&D Zoom meeting

Community demo on Mora

Mora is a P2P Web3 branding tool for super-creators, built on the ICP Blockchain.

The demo was conducted by Paul Liu from Dfinity.

in this section, Paul demonstrated the basics of Mora and gave some top picks on how creators can use the platform.

Community demo 2 On Bioniq

Bioniq is the OG Ordinals marketplace built on top of ICP.

The demo was conducted By Bioniq Co-Founder and CEO, Bob Bodily.

In this section, Bob went through the Bioniq Marketplace and did an overview explanation of how to use it.

Currently, Bioniq accepts Native BTC and #ckBTC as payment methods.

 Updates on the ICP Ecosystem🤩

BTC Miami By Kyle Langham

there was a 50k ckBTC sat Giveaway at Bitcoin 2023 conference.

ckBTC promo highlights by Ben Zhai

Openchat had a Red envelope promotion.

Catalyze: announced a writing competition.

ICLighthouse: announced trading rewards.

DSCVR: announced ckBTC Airdrops to their top users.

Plethora: announced treasure hunting on their metaverse.

 

Conclusion of the promo campaign series.

22 ckBTC and 120k ICP DEX volume

Coins were airdropped to 5k+ wallets

35k ckBTC transaction during the period

The campaign was successful overall.

SNS By Lomesh Dutta.

The SNS readiness checklist has been implemented.

HotOrNot- a TikTok rival built 100% on-chain will launch its SNS this June.

ICP-based search engine Kinic will launch its SNS this June.

EMC an AI-focused L2 that uses canisters for ledger, consensus, and economic models will launch its SNS this June.

4. ETH integration By Dieter Sommer.

ETH integration will infinite scalability to Ethereum and also bring ETH and ERC20 liquidity to the IC.

Phase 0 (chain key implementation and HTTP outcalls ) is completed.

Phase 1(ETH API calls) are being implemented.

ckETH and ckERC-20 are in the design phase.

Phase 2 which is Native ETH integration is coming soon.

Here we come to the End of this month's R&D meeting summary🙂

Hope you found this insightful as well.

As always, Make sure you smash that like button, and share this with your #BTC #ETH and #ICP friends as well!

Until the next one, LFG🚀