Thread by @BobBodily

When $ckBTC is released this week, #ICP will easily be the best smart contract layer for #BTC (yes, better than stacks).

Never heard of $ICP? We're leveraging $ICP tech at @bioniq_nft to create the world's fastest non-custodial ordinals marketplace

🧵👇

ICP is the decentralized web services blockchain. Web services meaning you can host frontends, store assets, and do compute, all with a single smart contract (called a canister).

These are all bundled together in the same environment and all available within the smart contract.

ICP is a sharded blockchain, meaning it is broken up into individual subnets (no global state verification is tradeoff here).

The benefit is 2-5 second finality, $5/GB/year storage costs (native storage in the heap), and incredible horizontal scalability.

On top of all of that, you can make http calls and sign tECDSA directly from a "canister" smart contract, which enables all sorts of interesting cross-chain integrations with other ECDSA chains (BTC, ETH, Polygon, Avalanche, Polkadot, XRP).

At @bioniq_nft, we're leveraging #ICP tech to build the world's fastest non-custodial ordinals marketplace.

Here's how it works:

First, wrap your BTC to ckBTC. This process is fully non-custodial using a protocol level multisig of threshold signers (on each node in a subnet). The protocol handles key generation and refreshing keys so the ckBTC wrapper is one of the most secure ways to wrap BTC.

Next, you wrap ordinals in the Bioniq marketplace. Each ordinal is held in a unique address which you control. As you trade the ICP ordinal, you trade the ability to sign for that address.

This is a fully non-custodial wrapping process enabled by ICP "canister" smart contracts.

After BTC -> ckBTC and Ordinal -> ICP Ordinal (both fully non-custodial and secure) you can trade on Bioniq at the speed and cost of the Internet Computer!

This means 2-5 second finality and no gas fees or miner fees.

The beauty of securely bridging to ICP (essentially using ICP as a smart contract layer or sidechain to BTC) is that you can now:
- send BTC in seconds
- trade ordinals in seconds
- submit a bid on an auction for free
- do bulk actions on your ordinals
- and much much more.

Interested in learning more? Check out internetcomputer.org.

We just released the @bioniq_nft explorer bioniq.io, and we'll be releasing a non-custodial wallet and marketplace very very soon.

We can't wait to show you the world's fastest BTC ordinals marketplace. It is going to be incredible.

As always, if you liked the thread give me a follow @BobBodily, hit me up in my DMs if you have questions, or leave me a reply. Would love to hear from you.