Dfinity Foundation's Net Computer blockchain is bringing smart-contract capabilities to the Bitcoin (BTC) network, potentially opening the door to new use cases for the premier cryptocurrency.

Net Estimator will use its so-called concatenation primal cryptography to integrate with Bitcoin, paving the mode for smart contracts with native BTC addresses that are hosted directly on Net Computer, Dfinity Foundation appear Tuesday.

"Internet Computer smart contracts will gain admission to bitcoin liquidity, and Bitcoin volition proceeds powerful new smart contract functionality, without the need for insecure and cumbersome trusted bridging services," explained Dominic Williams, the founder and chief scientist of Dfinity Foundation.

Smart contracts on Internet Calculator will feature associated BTC addresses, giving them direct access to transactions on the Bitcoin blockchain. Transaction finality on Net Computer takes two seconds, compared with xl minutes on Bitcoin. To go around this, so-called "Bitcoin banks" can be utilized directly on Cyberspace Computer, enabling swift two-2d transactions.

Earlier this year, Dfinity Foundation launched a $223 million Developer Ecosystem Programme to back up further smart contract and blockchain evolution. The projection, which launched in 2022, has received fiscal bankroll from some of crypto's biggest venture firms, including Andreessen Horowitz and Polychain Capital.

Dfinity's latest efforts are part of a wider industry initiative to brand Bitcoin more than accessible for transactions, decentralize finance and Web 3.0. In January, open up-source network Stacks unveiled its vision for Bitcoin-centric smart contracts utilizing a layer-ane blockchain with a native bridge.

Several other developers are in the process of delivering new applications ahead of Bitcoin's widely anticipated Taproot upgrade later this year. The upgrade received overwhelming support from mining nodes, paving the way for soft-fork activation in November.

Related: Evolve or dice: How smart contracts are shifting the crypto sector'south residue of power

While Bitcoin hasn't achieved all the tenets of Satoshi Nakamoto's 2008 whitepaper — namely, widespread utility as an electric cash system — it has emerged every bit a premier alternative nugget. The Bitcoin network reached a total market place capitalization north of $1 trillion in May before undergoing a broad market correction. Much of that growth is owed to growing institutional support for Bitcoin-every bit-an-asset.