ICP as an Ethereum sidechain
Because ICP canister smart contracts can call into Ethereum smart contracts, it enables a true World Computer in a multi-chain environment smart contracts can seamlessly communicate across blockchains. ICP already integrates with the Bitcoin Network, and native ETH integration is underway.
Canister smart contracts on ICP are the glue between blockchains and the gateway to multi-chain advantages.
Extend Ethereum with ICP capabilities
Ethereum is the world’s top blockchain for DeFi with TVL in the billions. Integrating with ICP offers multi-chain benefits such as increased asset liquidity, expanded market access, improved scalability and throughput. Plus, access to ICP’s unique capabilities:
100% on-chain Web3
Decentralize your Ethereum dapp by hosting frontend and backend data on the Internet Computer.
Gasless token swaps
Using ckETH and ckERC-20 tokens, users can swap tokens for a few cents with 0 gas fees.
Web2 integration
Connect smart contracts to the world outside blockchain. Fetch real-time price data and more from Web2.
Signing Ethereum transactions
Today, ICP smart contracts are capable of offering the on-chain Ethereum full node API by using the HTTPS outcalls feature to cloud API providers to securely query the Ethereum blockchain, and send transactions to it.
Chain-key (ck) ECDSA , which is already available to any canister smart contract on the Internet Computer, can invoke smart contracts calls on the Ethereum blockchain by creating and signing transactions to be executed by the Ethereum network.
Multi-chain DeFi
In June 2023, average transaction fees for USDC and USDT were $4.21 and $5.46 respectively, making swaps below a certain amount is completely impractical. The Ethereum integration enables the use of chain-key (ck) tokens such as ckETH and ckERC-20 on the Internet Computer, including ckUSDC or ckUSDT. This feature allow users to send and receive ETH value on ICP DEXs for a few cents with 1-2s finality, and no gas fees.
ckETH is now live on the mainnet and exposes ICRC-1 and 2 ledger interfaces (the fungible token standard of ICP), making it simple for all ICP wallets to offer ckETH support. Total value of ckETH is fully backed 1:1 by ETH, and can always be verified by viewing the on-chain dashboard and metrics of the canisters. ckERC-20 is coming soon.
EVM on the Internet Computer
An Ethereum Virtual Machine (EVM) is coming to the Internet Computer built by Bitfinity — a team of developers from the ICP community. Bitfinity is delivering a turn-key solution for developers to operate their ETH dapps on the Internet Computer using Solidity, which brings ICP's 1-2s finality, and near 0 transaction fees to established Ethereum dapps, providing an incredibly efficient Ethereum scaling solution.
Full protocol integration
Full protocol-level integration involves realizing an on-chain Ethereum API on the Internet Computer that will enble smart contracts on the Internet Computer to call smart contracts on Ethereum and vice versa. This API will be enabled by running Ethereum full nodes next to each ICP replica on a large ICP subnet, and communicating with these subnets from the replicas through ICP consensus. This end-to-end framework for protocol-level integration with Ethereum is still in development, although individual Internet Computer technology features can already be combined to interact with Ethereum.
Build your own Ethereum
multi-chain solution
Tutorial
Interacting with Ethereum
Interacting with Ethereum on the Internet Computer (Beta)
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