Smart Contracts Running on Bitcoin? Internet Computer Founder Explains How It’s Possible

Upon its launch, Internet Computer took the crypto market by storm. It’s an ambitious project, supported by some major names in the industry. Designed and created by the DFINITY Foundation, it aims to give more power to the people over the Internet, and it could potentially take it into a new stage powered by its platform. Now, the Internet Computer has taken another step into the future. Its community recently voted and approved the “Increased Canister Storage” as Internet Computer continues to integrate more features and upgrade its platform. Next, the community will use the power provided by the Internet Computer governance model to vote on integration with the Bitcoin blockchain. In practice, this will allow Bitcoin to have smart contract functionality (or Canisters, as they are called on Internet Computer) on the Internet Computer network with low-cost transactions and fast finality. Thus, the decentralized ecosystem on both networks could expand into an unprecedented era. We sat down with Dominic Williams, the founder and Chief Scientist of the DFINITY Foundation to talk about this proposal, its implications for Bitcoin and Internet Computer, and more. This is what he told us. Q: It has been around 4 months since Internet Computer was deployed, how would you describe the current state of the project and the role the community is playing? Dom: Developers and entrepreneurs have recognized its potential. As a result, the In...