Internet Computer Protocol Targets 'Bitcoin Layer Zero' with New Threshold-Schnorr Integration
The team behind Internet Computer Protocol ($ICP ) said that the implementation of threshold-Schnorr will allow for recording Runes, trading BRC-20 tokens and "unlocking the full potential of Bitcoin-based DeFi and Web3", with ICP "poised to become Bitcoin's zero layer," according to one message.
The implementation of threshold-Schnorr will allow ICP smart contracts to directly sign Schnorr signatures to:
- Register ordinals in a decentralized way
- Send and receive BRC-20 tokens directly in Bitcoin L1
- Easily bypass BRC-20s
- Sign Taproot transactions
- Re-enroll ordinals, unlocking dynamic ordinal NFTs that change based on user behavior or other data in Bitcoin.
