ICON Integrates Polkadot to its Blockchain Transmission Protocol (BTP)
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ICON Integrates Polkadot to its Blockchain Transmission Protocol (BTP)

April 3, 2021      Jafrin Ahmed

The core member team and third-party developer of ICON, Blockchain Transmission Protocol (BTP) Working Group have announced its first integrations of BTP into the Polkadot ecosystem. Four of the top parachain candidates in the Polkadot ecosystem, Acala, Moonbeam, Edgeware, and Plasm will be integrated into ICON’s BTP interoperability solution. This will allow developers to build complex applications into different blockchain infrastructures.

ICON (BTP) is Joining the Polkadot Ecosystem 

By integrating Polkadot, ICON and its BTP working group are building an interoperability solution for fully decentralized cross-chain applications.

This will enable developers and network participants to communicate and explore opportunities on interconnected networks and their ecosystems in the future.

The integrations of EVM-compatible DeFi ecosystem, Acala; Ethereum compatible across DeFi, NFT, and gaming spaces, Moonbeam; decentralized community governance Edgeware; and Layer-2 solution and Dapp Plasm network will enable the applications of all four parachains to directly interact with ICON and any other network in the BTP ecosystem.

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Meanwhile, ICON-based DeFi DApps such as Omm.finance, Balanced.Network, and Optimus.finance can easily add tokens from the four Polkadot parachains and vice versa.

Scott Smiley, Director of Strategy for the ICON Project, said:

“ICON is excited to collaborate with Polkadot as we have similar ideas of a cross-chain world and a community of communities. The unique aspect of these integrations is the trustless security achieved through cryptography rather than other comparable technologies relying on trusted 3rd parties. The possibilities of this technology are limitless, but initially, we’ll focus on token transfer capabilities for cross-chain DeFi solutions.”

BTP is a Decentralized Cross-Chain Data Transfer Protocol

BTP is a decentralized cross-chain data transfer protocol enabling cross-network smart contract interactions, cross-network token transfer, cross-network NFT transfer among others. Currently, BTP’s working group has three third-party developer groups such as Edgeware, ICON DAO, and Web3 Labs, learning the BTP architecture and working on implementations.

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The next milestone for the Polkadot integration is to have testnet launch for BTP smart contracts by the end of Q2 2021 and mainnet support upon launch of ICON 2.0.

#Blockchain Transmission Protocol #BTP #ICON #Polkadot
Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.