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DFINITY community upgrade enables smart contracts the ability to transfer ICP tokens » CryptoNinjas

The DFINITY Foundation, the group behind the Internet Computer general-purpose blockchain and web3 platform, at this time introduced {that a} proposed upgrade to develop assist for all canister smart contracts to give you the chance to maintain and transfer ICP tokens has been adopted and is now stay on the community.

Voting 309,936,205 (approve) to 20,561 (reject) on proposal 31471, this long-awaited characteristic units the stage for the creation of superior DeFi purposes on the Internet Computer blockchain, by increasing assist for all canister smart contracts to give you the chance to maintain and transfer ICP tokens.

“Now the community has adopted this proposal, and the Network Nervous System DAO has upgraded the network, canister smart contracts on the Internet Computer have become able to hold and transfer ICP tokens for the first time, providing for the development of a new generation of DeFi, and the blending of DeFi with social media and games functionality in the form of SocialFi and GameFi, forging the path towards billions of end-users.”
– Dominic Williams, Chief Scientist and Founder at DFINITY

With its superior cryptography, the Internet Computer public blockchain permits its community of token holders to vote on governance proposals, and the ICP protocol routinely upgrades itself through the Network Nervous System (NNS), a super-advanced DAO.

The ICP transferability upgrade has been eagerly awaited by Internet Computer builders. At a primary stage, a dApp resembling OpenChat, a decentralized model of WhatsApp, will quickly give you the chance to enable customers to ship ICP tokens to each other through immediate messages.

Because smart contracts on the Internet Computer run at net pace and might serve net experiences straight to customers, this performance additionally heralds the creation of decentralized exchanges that run fully on a blockchain, with out the want for cloud nodes to course of trades or create the front-end for customers.

Execution of this characteristic can also be an vital step in the direction of the implementation of dApp tokenization on the Internet Computer. An upgrade proposal for the vital Service Nervous System (SNS) characteristic is already underneath dialogue inside the community.

DFINITY can also be at the moment engaged on straight integrating the Internet Computer with the Bitcoin community, which is able to leverage the mixed power of Bitcoin and the Internet Computer as a platform for effectively executing smart contracts.

Within only a few months of its launch in May 2021, the Internet Computer has attracted 1000’s of builders and customers of its dApps,

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