TAP / ICP Overview
Last updated
Last updated
TAP Protocol supports account abstraction through authorities and therefore makes it possible to utilize programmability for platforms of your choice. Please see the extended functions for Token Authorities and Privilege Authorities for details.
Through managing your authorities, you are able to apply algorithms and rule over the distribution of assets. Token Authorities are used to issue existing tokens, owned by the authority while Privilege Authorities manage the distribution of new assets.
While there are use-cases that allow for centralized programmability, we feel it is important to showcase how decentralized platforms can (and should) be utilized to allow for programmability with the TAP Protocol on Bitcoin L1.
One platform that is a good fit for the task is ICP (Internet Computer). Due to its integration with Bitcoin, you are able to directly enforce rules on the funds managed by your ICP smart contracts (called canisters).
The computation costs on ICP are extremely low, making it a very cost-effective way for users to interact with your dapps.
Bundling your smart contracts with TAP Readers as oracles, you'll have the currently most straightforward and most powerful tool to allow for programmability on Bitcoin L1.
Instead of modified Ord clients that try to mimic an EVM execution layer or overly complex rollup structures, this makes it possible to enable a frictionless experience for users, as there is nothing else required than a regular wallet with Ordinals support (no bridging, no L2 wallets).
Additionally, there is no need for bridging BTC. Users can transparently use their assets to perform actions on your smart contracts.
Please check our TAP / ICP Boilerplate that utilizes Typescript integration and makes it even easier to create smart contracts compared to other solutions out there.
See the diagram below that identifies the components that interact with your smart contracts:
