The Internet Computer is the only blockchain that supports
both smart contracts and the Internet Identity system, which allows users to
anonymously authenticate themselves to Web 3.0 dapps and services using any
device that implements the WebAuthn standard. This means that a Bitcoin wallet
can be created using Internet Computer smart contracts that are directly served
from the blockchain into a web browser, allowing users to securely,
conveniently, and anonymously authenticate themselves using, for example, the
fingerprint sensor on their laptop or face recognition on their phone, in order
to send bitcoins.
New cryptography
techniques
The DFINITY Foundation's Internet Computer blockchain will
use new cryptography techniques to interact with the Bitcoin network, allowing
smart contracts to operate directly on bitcoin balances for the first time.
DFINITY's related R&D effort will be accomplished after the Internet
Computer community approved a Network Nervous System (NNS) proposal with 96.55
percent acceptance on September 17. Since the network's inception in May, it
had already received 20,586 proposals.
The Blockchain
Computer On The Internet
The Internet Computer is the world's first public blockchain
that: Can truly scale to host any volume of smart contracts and related
computation and data, making it the first unbounded blockchain Runs at web
speed by finalising transactions that update data in 2 seconds and others in
milliseconds, making it the world's fastest blockchain
This integration is possible because, utilizing chain key
cryptography, the Internet Computer protocol will be able to safely produce the
ECDSA signatures used in bitcoin transactions on behalf of smart contracts
(after the Taproot Bitcoin upgrade in November, Schnorr signatures will also be
created). Meanwhile, Internet Computer Network nodes will consume Bitcoin
blocks directly to ensure that smart contracts have access to balance
information at all times.
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