The DFINITY Foundation, the organization behind the universal blockchain and web3 platform for Internet computers, today announced that a proposed upgrade aimed at expanding support for all tank-style smart contracts to be able to hold and transfer ICP tokens has been adopted and is now available in The internet.
Votes from 309,936,205 (approved) to 20,561 (rejected) Proposal 31471, This long-awaited feature lays the foundation for the creation of advanced DeFi applications on the Internet computer blockchain. By expanding the support for all tank-type smart contracts, it is possible to hold and transfer ICP tokens.
“Now the community has adopted this proposal, the network neural system DAO has upgraded the network, and the canned smart contract on the Internet computer can hold and transfer ICP tokens for the first time. It is for the development of a new generation of DeFi, as well as the development of SocialFi and GameFi. Form combines DeFi with social media and gaming features, opening the way to billions of end users.”
– Dominic Williams, Chief Scientist and Founder of DFINITY
With its advanced cryptography, the Internet computer public blockchain allows its token holder community to vote on governance proposals, and the ICP protocol is automatically upgraded through the Network Neural System (NNS), which is a super-advanced DAO.
Internet Computer developers have been eagerly looking forward to the portability upgrade of ICP. At a basic level, dApps like OpenChat (decentralized version of WhatsApp) will soon be able to allow users to send ICP tokens to each other via instant messaging.
Since smart contracts on Internet computers run at network speeds and can directly provide users with a network experience, this feature also heralds the emergence of decentralized exchanges that run completely on the blockchain, without the need for cloud nodes to process transactions or create Front end-ends with the user.
Performing this function is also an important step in the tokenization of dApps on Internet computers. The community is already discussing the upgrade proposal of the critical service nervous system (SNS) function.
DFINITY is currently also committed to directly integrating Internet computers with the Bitcoin network, which will use the comprehensive advantages of Bitcoin and Internet computers as a platform for effective execution of smart contracts.
In just a few months Launched in May 2021, Internet computers have attracted thousands of dApp developers and users,