Introduction of the EVM RPC API
The DFINITY Foundation, renowned for its pioneering work on the Internet Computer blockchain, made a significant announcement on May 22. The organization introduced the EVM RPC and a new stablecoin, ckUSDC, aiming to enhance interoperability across multiple blockchains and expand the utility of decentralized finance (DeFi) within the ecosystem.
DFINITY Enhancing Interoperability
“Reaching the Tritium milestone with the EVM RPC enables Internet Computer smart contracts to read and write to any blockchain supporting the Ethereum JSON-RPC protocol,” said Lomesh Dutta, VP of Growth at DFINITY.
JSON-RPC, or JavaScript Object Notation-Remote Procedure Call, is a coding protocol that standardizes the way commands are sent and responses are received across different operating systems by encoding messages using JSON, a lightweight data format.
Simplifying Multi-Chain dApp Development
With this new API, DFINITY’s EVM RPC simplifies the development of multi-chain decentralized applications (dApps). It allows for direct interactions with various blockchains such as Optimism, Arbitrum, and Base, and developers can add more Ethereum Virtual Machines (EVMs) as needed.
Through launching these products, DFINITY aims to improve blockchain interoperability and liquidity, bridging various communities. Early feedback from adopters like IC Lighthouse and Helix Markets has highlighted its potential to simplify operations and integration across different networks.
Introduction of ckUSDC Stablecoin
Alongside the EVM RPC API, DFINITY also introduced ckUSDC, a stablecoin directly pegged to USDC and integrated into the Internet Computer network.
As a “twin token,” ckUSDC offers typical stablecoin benefits, such as serving as a medium of exchange and a store of value, with faster transactions and reduced costs characteristic of the Internet Computer (ICP). It supports trading pairs like ckBTC/ckUSDC, ckETH/ckUSDC, and ICP/ckUSDC, enabling secure transactions across different chains.
Encouraging Further Adoption
DFINITY aims to encourage further adoption of ckUSDC among developers and users by allowing community proposals for additional ERC20 twins on the Internet Computer network.
These innovations signify a step forward in enhancing blockchain interoperability and expanding the DeFi ecosystem, offering promising new tools for developers and users alike.m
