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Internet Computer (ICP)

Internet Computer (ICP). Will be the future of web 3.0 . It is the fastest blockchain with a finality time of 2 seconds and a query call of 100 ms. Its canister smart contracts offer a real web 3.0 serving the web and interacting directly with users. Scalability is unlimited, and it provides a highly adaptable blockchain that allows its community to vote on proposals through the Network Nervous System to manage the Internet Computer. What is ICP?  ICP’s basic idea is to create a new kind of decentralized internet and global computing system — where independent data centers all over the world could join together to create an alternative to the cloud services. In theory, any kind of application can be created and run on the Internet Computer — from social networks similar to LinkedIn and TikTok to software similar to all the familiar applications you know today to new kinds of applications not yet conceived. As a demonstration, ICP developers have published open so...
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Internet Computer (ICP)

Internet Computer (ICP). Will be the future of web 3.0 . It is the fastest blockchain with a finality time of 2 seconds and a query call of 100 ms. Its canister smart contracts offer a real web 3.0 serving the web and interacting directly with users. Scalability is unlimited, and it provides a highly adaptable blockchain that allows its community to vote on proposals through the Network Nervous System to manage the Internet Computer.

What is ICP?

 ICP’s basic idea is to create a new kind of decentralized internet and global computing system — where independent data centers all over the world could join together to create an alternative to the cloud services. In theory, any kind of application can be created and run on the Internet Computer — from social networks similar to LinkedIn and TikTok to software similar to all the familiar applications you know today to new kinds of applications not yet conceived. As a demonstration, ICP developers have published open source code for CanCan, which they describe as a “decentralized TikTok.”


What is Web 3.0 ?

Web 3.0 is the third generation of internet services for websites and applications that will focus on using a machine-based understanding of data to provide a data-driven and Semantic Web. The ultimate goal of Web 3.0 is to create more intelligent, connected and open websites.

1. Comparison between the Internet Computer VS Layer 1 Blockchains

The main innovation behind the Internet Computer is Chain Key Technology, which encompasses several new technologies, including the consensus mechanism, Non-Interactive Distributed Key Generation (NI-DKG), Network Nervous System (NNS), Internet Identity, and more.

Other blockchains add changes that improve some of the features that Ethereum offers, such as the speed or fees. Still, the Internet Computer presents innovative changes in all the bases that will transform the existing technology.

Without further ado, let's look at some differences that this technology offers.
Max. Supply & Genesis date
The Current Supply of $ICP is 472 Million, and the inflation starts at 10% and then stabilizes at 5% over the years. Cycles burning to power the dapps will increasingly drive deflation as the number of daily active users rises.

Speed

Speed features

In the race for the blockchain podium, the parameters most claimed by blockchain enthusiasts are those related to speed. Unlike security or scalability, speed has measurable parameters that make it easier to rank the winners.

The transaction speed is calculated using three metrics:

Block Size: The amount of data (in bytes) that can be contained in a single block.

Block Time: Time needed to create the next block in a blockchain.

Average Transaction Size: How large the average transaction on the blockchain network tends to be.





Comments

  1. ABHHIIDecember 3, 2021 at 6:13 AM

    Very informative blog

    ReplyDelete
  2. UnknownFebruary 17, 2022 at 6:42 AM

    Hello from the DFINITY Team. I'd like to DM you to deliver a message. Ping me when you see this, please. Cheers. Riccardo Coli

    ReplyDelete

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