Chain-Key Tokens

Chain Fusion

Chain Fusion allows the Internet Computer Protocol (ICP) to interconnect with multiple blockchains in a decentralized manner, eliminating the need for a single trusted intermediary such as a bridge. This is possible through decentralized bi-directional communication of the Internet Computer with other chains and the ability of ICP smart contracts to sign and submit transactions to other chains. This technology enables smart contracts on ICP to interact with multiple networks, allowing developers to realize multichain use cases and leverage ICP’s unique capabilities.

Chain-key tokens are an essential component of Chain Fusion. These tokens, such as ckBTC and ckETH, are created using ICP’s chain-key cryptography protocols, such as threshold signing. Unlike traditional wrapped tokens, which involve intermediaries that need to be trusted, each chain-key token is fully backed 1:1 by the native asset and managed 100% on-chain by an ICP smart contract. This offers a more secure and decentralized alternative, without any intermediaries or centralized bridges. Transactions with chain-key tokens on ICP are often faster and cheaper than transactions on the token’s native network.

Chain Fusion and chain-key tokens allow developers to build powerful cross-chain applications, leveraging the best elements of each network. By abstracting away the complexities of multichain interactions, Chain Fusion unlocks new possibilities for both developers and users across blockchain networks.

See how dapps on the Internet Computer are utilizing Chain Fusion technology today.

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