- The internet computer is creating a decentralized cloud, launched by Dfinity Foundation on May 10th, 2021.
- It is broadband technology of web 3.0.
- It is proof-of-useful work.
ICP is a blockchain-based project. It is another crypto but not a coin or token; it’s a vast network of computers run by ICP. It is the revolution of the Internet and web 3. The main goal is to increase the speed of most blockchain scalability to execute smart contracts.
Limiting the presence of tech protocols like Facebook and Amazon. To keep the data secure and private.
Big tech firms control the Internet. They invade our privacy, sell our data, have the authority to censor anything, and even shut down the Internet.
ICP is the alternative to the current Internet. The Internet has many challenges, including unwanted commercial spam, invading privacy, and identity theft. ICP has the broadband technology of web 3.0, which makes it decentralized. It is open to everyone and built on blockchain technologies that make it highly secure.
Ownership of the Internet will be in the hands of users with no third-party involvement.
About Dfinity Foundation
Dfinity Foundation is a non-profit organization based in Zurich, Switzerland, aiming to build a decentralized cloud to process the Internet.
Their major goal is to change the current Internet and to create “Blockchain Singularity.” Every system and service is to be rebuilt using smart contracts.
The meaning behind Dfinity is Decentralized + Infinity which means the ICP is designed to hold many social platforms in a decentralized way.
“Internet Computer,” the 2nd Internet where no tech firms control the Internet. The user will be the owner and the control, not the platform. Dfinity Foundation believes that the “Internet Computer” has the potential to change the world.
- The nervous network system is a permissionless, decentralized system that continuously upgrades the protocol system to improve the internet computer based on the voting of ICP token holders.
- Low on-chain data storage costs.
- Infinite scalability means the ICP can process an unlimited amount of transactions, hold an unlimited amount of smart contracts, and have unlimited memory storage without failing the speed.
- Fast speed, no slowing or shutting down of the Internet.
- Decentralized cloud.
- Censorship resistant.
- Allow anyone to create software on the Internet.
ICP, Internet Computer, is the first decentralized Internet launched by Dfinity Foundation. The main goal is to change the Internet by improving the challenges the current Internet is facing. Internet computers are no doubt the most promising crypto project. It limits the presence of tech firms and their control over the Internet and keeps data secure and private. Dominic Williams, the founder of the Dfinity Foundation’s major goal is to change the internet by creating every service and system built on blockchain. He believes blockchain singularity has the potential to change the world.