ICP Advances With Safe Cross-Chain Token Transfers
The post ICP Advances With Safe Cross-Chain Token Transfers appeared on BitcoinEthereumNews.com.
ICP jumps 6.7% as it enables secure cross-chain transfer without risky third-party bridges. Wrapped BTC, ETH, USDT, and USDC on ICP are backed 1:1 using Chain-Key cryptography. ICP offers secure, fast, cheap transactions for DeFi and gaming, avoiding $2B+ in bridge hacks. Internet Computer Protocol (ICP) has gained 6.7% in the past 24 hours as attention turns toward its approach to cross-chain asset bridging. The blockchain offers wrapped versions of major cryptocurrencies without relying on vulnerable third-party bridge protocols. According to data analytics firm Santiment, ICP supports wrapped versions of Bitcoin (ckBTC), Ethereum (ckETH), Tether (ckUSDT), and USD Coin (ckUSDC). These “ck” tokens maintain 1:1 backing with their original counterparts while operating natively within the ICP ecosystem. The price performance shows steady growth across multiple timeframes, with ICP up 19.2% over the past month. 🤔 Did You Know: Internet Computer (ICP) supports wrapped, on-chain versions of major crypto assets like Bitcoin (ckBTC), Ethereum (ckETH), Tether (ckUSDT), and USD Coin (ckUSDC). These “ck” tokens are 1:1 representations of their original counterparts, backed and secured through… pic.twitter.com/djhqFNUoT0 — Santiment (@santimentfeed) May 21, 2025 Chain-Key Cryptography Eliminates Bridge Risks Unlike traditional wrapped tokens issued by centralized custodians, ICP’s versions use Chain-Key cryptography to secure assets. This technology creates a built-in, decentralized mechanism for bridging without the vulnerabilities that have plagued traditional bridge protocols. When users transfer Bitcoin to ICP, the original BTC gets locked in a secure address on the Bitcoin blockchain. An equal amount of ckBTC is then issued on the Internet Computer. This ensures the asset remains cryptographically backed and redeemable at any time. This approach contrasts sharply with third-party bridges that have lost over $2 billion in hacks since 2021. By avoiding external bridge protocols, ICP removes the single points of failure that have made cross-chain transfers risky for users.…
