Dfinity Foundation’s Internet Computer blockchain is reportedly rolling out supporting features for smart contracts across the Bitcoin (BTC) network, offering chances for use cases for the crypto coin. 

Specifically, Internet Computer will reportedly take advantage of what is referred to as chain key cryptography, to complete the integration with Bitcoin, setting the scene for smart contracts with native BTC addresses, facilitated in a direct manner across Internet Computers. 

“Internet Computer smart contracts will gain access to bitcoin liquidity, and Bitcoin will gain powerful new smart contract functionality, without the need for insecure and cumbersome trusted bridging services” Dominic Williams, the founder and chief scientist of Dfinity Foundation, reportedly remarked. 

Smart contracts across Internet Computer will reportedly come with related BTC addresses, opening up direct access gateway for them to Bitcoin blockchain-based transactions. 

Transaction finality on Internet Computer reportedly requires two seconds to finalize, instead of the 40 minutes on Bitcoin.

To overcome this obstacle, so-called “Bitcoin banks” can be utilized directly on Internet Computer, allowing swift two-second transactions.

In early 2021, Dfinity Foundation rolled out a $223 million Developer Ecosystem Program to provide additional assistance for smart contracts and blockchain. 

The initiative, rolled out in 2014, has reportedly been at the receiving end of financial support from a variety of crypto’s largest venture entities, including Andreessen Horowitz and Polychain Capital.

Dfinity’s most recent attempt is reportedly included within the scope of a broader sector initiative, to amplify the accessibility of Bitcoin for transactions, decentralize finance and Web 3.0.