The DFINITY Foundation, the company behind the Internet Computer general-purpose blockchain and web3 platform, today revealed that a proposed upgrade to broaden assistance for all container clever agreements to be able to hold and move ICP tokens has actually been embraced and is now survive on the network.
Voting 309,936,205 (authorize) to 20,561 (decline) on proposal 31471, this long-awaited function sets the phase for the production of innovative DeFi applications on the Internet Computer blockchain, by broadening assistance for all container clever agreements to be able to hold and move 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 innovative cryptography, the Internet Computer public blockchain permits its neighborhood of token holders to vote on governance propositions, and the ICP procedure instantly upgrades itself through the Network Nervous System (NNS), a super-advanced DAO.
The ICP transferability upgrade has actually been excitedly waited for by Internet Computer designers. At a standard level, a dApp such as OpenChat, a decentralized variation of WhatsApp, will quickly have the ability to permit users to send out ICP tokens to one another through instantaneous messages.
Because clever agreements on the Internet Computer perform at web speed and can serve web experiences straight to users, this performance likewise declares the development of decentralized exchanges that run completely on a blockchain, without the requirement for cloud nodes to process trades or develop the front-end for users.
Execution of this function is likewise a crucial action towards the execution of dApp tokenization on the Internet Computer. An upgrade proposition for the important Service Nervous System (SNS) function is currently under conversation within the neighborhood.
DFINITY is likewise presently dealing with straight incorporating the Internet Computer with the Bitcoin network, which will utilize the combined strength of Bitcoin and the Internet Computer as a platform for effectively carrying out clever agreements.
Within simply a couple of months of its launch in May 2021, the Internet Computer has actually drawn in countless designers and users of its dApps,