Dfinity Foundation Introduces New EVM RPC API to Enhance Cross-Chain Interoperability for ICP Smart Contracts

Dfinity Foundation has introduced a new API called EVM RPC to enhance cross-chain interoperability for Internet Computer (ICP) smart contracts.

Dfinity Foundation has announced the launch of a new API called EVM RPC, which will enhance cross-chain interoperability for Internet Computer (ICP) smart contracts.

According to a May 23 press statement shared with CryptoSlate, the EVM RPC API will allow ICP smart contracts to read and write on any Ethereum Virtual Machine (EVM)-compatible chain.

This includes layer-2 solutions like Optimism, Arbitrum, and Base, as well as the Bitcoin blockchain. The API will also soon be expanding to support the Solana blockchain.

Essentially, this API will simplify multi-chain dApp development and eliminate the need for bridges and wrapped tokens. It will allow native chain interactions and liquidity facilitation through the network API keys.

Highlighting the significance of this innovation, Dfinity stated:

“This way, DFINITY’s Chain Fusion technology enables true multi-chain interoperability, allowing developers to write a single ICP smart contract that can custody Bitcoin, for example, and programmatically trigger sending it based on events observed on an Ethereum DeFi smart contract.”

Dfinity Foundation also announced that the new API has already facilitated the deployment of ckUSDC, an interoperable stablecoin pegged 1:1 to Circle’s USDC stablecoin, on the ICP network.

As the second-largest stablecoin, USDC has a market capitalization of $32.83 billion, according to CryptoSlate’s data.

The ckUSDC token is a multi-chain “twin” of USDC that leverages chain-key cryptography and ICP smart contracts that directly hold original assets.

It operates similarly to ICP’s other inter-ecosystem tokens, such as ckBTC and ckETH.

Since its launch, ckUSDC has gained traction with notable projects like IC Lighthouse, ICPSwap, and Helix Markets, reflecting growing demand for this type of token.

Lomesh Dutta, DFINITY’s Growth President, commented on the launch of ckUSDC and the new read/write APIs, emphasizing their role in fostering further development within ICP’s ecosystem.

“With the addition of ckUSDC and read/write APIs, dozens of different chains can now leverage ICP smart contracts to freely interact with other networks, making the Web3 ecosystem massively more interoperable and unified,” he said.