Home Cryptocurrency The Internet Computer blockchain reinvents the public internet — runs at web speed with unbounded capacity

The Internet Computer blockchain reinvents the public internet — runs at web speed with unbounded capacity

by Serge Shlykov

The Internet Computer is a new blockchain technology that will enable you to run your own computer on the Internet at Web Speeds, without the limits of a traditional computer, power or bandwidth.

This is a very interesting project, and it is a departure from the normal Bitcoin blockchain. This is because it is a computer network, in which every node has a copy of the entire blockchain. This is run by volunteers, who are paid in tokens that are a cryptocurrency on the Ethereum blockchain that is not tied to bitcoin. The Ethereum blockchain runs on the custom-made blockchain-driven internet computer that generates the tokens.

One of the great advantages of the web is the ease of publishing information and distributing applications. The web has enabled business to flourish and society to grow. However, the web has also been abused by monopolies and cartels that have stifled innovation and choice for users and content producers.. Read more about blockchain crypto and let us know what you think.

The DFINITY Foundation, based in Zurich, Switzerland, is a non-profit research organization. It operates research centers in Palo Alto and San Francisco, among other places. DFINITY is a blockchain-based cloud computing startup that also supports the creation of Internet Computer (ICP), a blockchain that runs at web speed and has no performance limits. DFINITY’s main goal is to create, promote and support an Internet computer. Internet computing is essentially an extension of the public Internet’s ability to host software, making it a global computing platform. As a result, developers can build websites, enterprise computing systems and on-line services on the public Internet. Recognized as the third major innovation in blockchain after Bitcoin and Ethereum, internet computing extends smart calculations and contracts, executes them at web speed, processes and stores data quickly, and provides developers with a robust software framework. Internet Computer wants to surpass Ethereum and Polkadot to become the best platform for cryptocurrency applications, with a high degree of decentralization allowing anyone to participate, build on it or use applications built on it. While Ethereum generally only allows the creation of finance-based applications, Internet Computer asserts itself as a platform that supports any type of application.

Order Reference

Dominic Williams is the founder of the DFINITY Foundation and Internet Computing. He is also the chair and chief scientist of both projects. Although originally from the UK, he moved to California in 2012 and continues to travel the world participating in various outreaches for both projects. Mr. Williams has extensive experience as a technology entrepreneur, distributed systems engineer and theorist. The rest of the team consists of qualified cryptographers from all over the world. In total, they have more than 100,000 scientific references and 200 patents. His team develops sophisticated experimental solutions to improve the existing public internet infrastructure.

Technology architecture

ICP (Internet Computer Protocol) is a powerful decentralized protocol that constitutes the Internet computer. This protocol is used by independent data centers around the world to combine the power of individual computers into an unstoppable, seamless universe. This means that web programs can be hosted and managed with the same level of security as smart contracts. An internet computer integrated with internet protocols such as DNS can deliver the user experience directly to web browsers and mobile phones. The network nervous system is an important feature of the Internet Network System (INS). Essentially, NNS is an open algorithmic control system that manages the network and token economy, allowing developers to create decentralized DeFi applications, open Internet services, and other projects at very large scales. The NNS is also a self-managed software that monitors everything related to computers on the Internet. In addition, it also acts as a standalone public key master blockchain that validates all IBO transactions. Data centers must first obtain a data center ID in order to participate in the open network from which the Internet computer emerged. It can then supply the network with host machines, which are basically server machines with a common specification. As a result, the network nervous system introduces these machines and groups them into subnets when the Internet computer needs more power. The software packages are then placed on these subnets. Another important feature of the Internet computer is Motoko, a modern programming language for developers who want to create next-generation Internet applications and services. Motoko was developed with the unique features of the Internet computer in mind.

Saving balances

PKI tokens, useful Internet computer tokens (originally known as DFN tokens), allow users to participate in network management. Major exchanges such as Binance, Huobi Global, OKEx, XT.COM and Coinbase currently offer ICP tokens for trading. CPI tokens can be used in two ways:

  • By locking them into the NNS to create neurons. You can then use this data to vote for suggestions and be rewarded.
  • They can also be converted into loops used by software packages to perform calculations in the Internet computer.

Financing and investor information

With a market capitalization already exceeding $30 billion, DFINITY has raised over $121 million from its investors, including Polychain Capital, SV Angel, Aspect Ventures, Electric Capital, ZeroEx, Scalar Capital, Multicoin Capital, Andreessen Horowitz, and others who were early investors in Ethereum.

Latest achievements

In 2018, more than 50,000 registered members received ICP tokens via airdrop. In December 2020, the main alpha network of the Internet computer was launched. Internet Computing was launched at 10. Launched in May of this year as an open source program. Different versions of the Internet computer have been published under the names copper, bronze, tungsten, sodium and mercury. The Copper release introduced the DFINITY Canister SDK (V0.3.0), as well as Motoko, a new programming language for Internet computing that uses WebAssembly to create tamper-resistant software and open Internet services. Bronze was introduced as the prototype for a new class of open Internet services that could run on an Internet computer. In this case it was LinkedUp, the open source version of LinkedIn. During the Tungsten presentation, a technical explanation of the Internet computer was given, and it was noted that decentralized computing systems represent the next big step in computing technology. Sodium saw the beginning of the Network Nervous System (NNS). The DFINITY mainnet has been officially launched on Mercury. The Internet Computer blockchain reinvents the public internet — runs at web speed with unbounded capacity

Roadmap for the future

By the end of this decade, the Internet computer should become the world’s leading computing platform for software development, with the Internet’s open structure replacing the closed, proprietary ecosystem of large technology companies. Although other platforms such as Avalanche and Solana have a similar mission, Internet Computer differs from these platforms in that it not only operates at high web speeds, but also has unlimited capabilities. Thus, it effectively solves the blockchain trilemma and provides people with a secure, scalable and decentralized platform. And unlike these two platforms, which rely heavily on Amazon Web Services and other enterprise cloud providers, DFINITY and Internet Computer use their own independent global data centers.

Supplement

The Internet computer is undoubtedly an excellent solution to the fundamental problems facing technology today, most of which stem from the current structure of the public Internet. Whether it’s simplifying the development of Web sites, business systems, and other Internet services in an open, transparent, and secure world, solving some of the most complex problems in computing, or dramatically reducing costs, the Internet computer will change the world. If you want to know more about DFINITY and Internet Computers, you can follow them on Twitter, Medium, Telegram, or visit their website directly. The Internet Computer blockchain reinvents the public internet — runs at web speed with unbounded capacity . He is one of the very first enthusiasts of blockchain and cryptocurrency in India. After working in the field for several years, he founded IBC in 2016 to help other early adopters learn about the technology. Before joining CBI, Hitesh founded 4 companies in the field of cyber security and IT.

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One of the many potential applications of blockchain technology is to serve as a decentralized ledger for keeping track of internet transactions. In fact, the first application of blockchain technology was the development of the Bitcoin cryptocurrency in 2009. But the technology has been limited to just a few niche uses of the public Internet.. Read more about blockchain news and let us know what you think.

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