Crypto: ICP Announces Major Breakthrough with Imminent Ethereum Integration

The Internet Computer (ICP) team has just unveiled its integration plan with Ethereum. This announcement opens the door to a groundbreaking collaboration between two blockchain giants. This news has the potential to transform the crypto ecosystem and could well be the catalyst for a surge in ICP’s price.

ICP and Ethereum join forces

The integration of Ethereum on Internet Computer will take place in two phases. In the first phase, a canister smart contract will act as a bridge, providing a complete Ethereum node API directly on the ICP blockchain. Thanks to chain-key ECDSA signature technology, every smart contract on Internet Computer will now be able to interact seamlessly with the Ethereum blockchain. This will eliminate the need for a centralized gateway.

Additionally, this first step will facilitate communication between ICP smart contracts and Ethereum’s diverse ecosystem, offering new and exciting possibilities for creators and users alike.

The second phase will introduce new tokens called chain-keys (ck), such as ckETH and ckERC-20, on Internet Computer. These tokens will enable very rapid transactions for almost nothing, thus offering great value to users of ICP’s decentralized exchanges (DEXes). With this integration, transactions become ultra-fast and inexpensive, opening many opportunities for the ICP ecosystem. 

A surge in ICP crypto?

This strategic integration with Ethereum could well propel Internet Computer’s native crypto to new heights. In response to DFINITY’s announcement on X, most community members expect this integration to have a positive impact on the ICP crypto price.

“ckETH will change the game and send ICP prices soaring.”

“Yahooo! ICP to the Moon……”

“The integration between ETH and Internet Computer is a significant step towards a transparent multi-chain environment.”

While some remain skeptical, crypto investors should closely monitor this collaboration, as the potential impact on ICP’s price is undeniable. Currently, the price of Internet Computer is on major resistance around $4.85 after a 50% increase since October. If speculations about a price surge are confirmed, this resistance could be broken.

In any case, in the world of crypto and blockchain, this alliance between ICP and Ethereum is a crucial step towards increased connectivity and utility.