June 25, 2021

DFINITY Foundation introduces its blockchain-powered ‘Internet Computer’

5 min read

CryptoNinjas” DFINITY Foundation releases its blockchain-powered ‘‘ Internet Computer

‘Today, the DFINITY Foundation, a not-for-profit company based in Zurich, Switzerland, is setting the phase for the launch of its ‘‘ Internet Computer’— turning the general public internet into a decentralized worldwide computer. The Internet Computer extends the performance of the internet, updating it from a network linking billions of individuals to one that likewise supplies countless designers and business owners worldwide with a public compute platform for crypto-based start-ups and blockchain-ready enterprises.

At launch, the Internet Computer is supported by 48 independent information centers– located across North America, Europe, and Asia– running 1,300 nodes. The network will continue to grow significantly to support the next generation of mega apps, with 123 data centers running 4,300 nodes arranged by the end of the year, and eventually countless information centers running countless nodes to support the decade-long building out of the Open Internet.

The ICP energy token is a native governance token that plays 3 crucial roles in the network:

  • Facilitating network governance.
  • Paying to host software.
  • Rewarding participation in governance or the arrangement of computation to host the network.

On May 10th, in a last decentralization action, a “Genesis Unlock” proposition will trigger the Network Nervous System (NNS) to release ICP governance tokens. This will result in 10s of thousands of Internet Computer token holders creating “voting nerve cells” that control the NNS and hence the whole network.

At its core, the Internet Computer is the world’s very first blockchain that performs at web speed with unrestricted capability– resolving the “blockchain trilemma” by producing a blockchain network that is decentralized, secure, and scalable. It achieves this through a set of cryptographic protocols called “Chain Key Technology,” a clinical accomplishment that makes it possible for the Internet Computer’s Network Nervous System (NNS)– an algorithmic governance system that manages the whole network– to onboard countless independent information centers and countless unique node machines. The Internet Computer is an open platform that releases the world from a dependence on centralized server farms, making it possible to host software application and information straight in cyberspace without the requirement for legacy IT such as exclusive cloud services, server devices, software stacks, databases, and firewall softwares.

Mercury is the last of the five turning points leading up to the public launch of the Internet Computer when the network will draw out as part of the general public internet. Today, the DFINTY Foundation hosted a ‘‘ Mercury Genesis’ launch occasion, which you can see listed below.

On December 18, 2020, as part of the Mercury turning point, the Internet Computer’s Alpha Mainnet was developed. The network is hosted on special” node makers “owned and operated by independent parties, and range from independent data centers all over the world, that have been placed under the control of the Network Nervous System (NNS). The Internet Computer is now on a fairly short course to a final “Genesis Unlock” decentralization step. This will launch ICP governance tokens, and lead to the creation of large numbers of new “voting neurons” that manage the NNS and hence the whole network. In order for the NNS to trigger Genesis Unlock, many technical and functional gates should be passed.

Figures: The”Internet Computer “is produced by the ICP protocol and now part of the general public web For the crypto market, the Internet Computer is designed to complete a trinity of public blockchain innovations– beginning with Bitcoin, progressing to Ethereum, and ending with the Internet Computer.

The creation of the Internet Computer now makes a brand-new type of software possible: open mass-market web services run by tokenized governance systems (aka autonomous software), such as open versions of TikTok, WhatsApp, and LinkedIn, utilizing less than a thousand lines of code, and capable of supporting countless users.

Figures: Screenshots of CanCan– an open and tokenized version of TikTok running on the Internet Computer and available through any

browser or mobile phone. The Internet Computer launch also reveals a clinical advancement called “Internet Identity,” an innovative approach that allows the Internet Computer to natively and safely handle user identities without usernames, passwords, or cryptographic keys. End users will utilize Internet Identity to register or log in to apps such as CanCan or OpenChat– while ensuring end-to-end cryptographic security made possible through Chain Key Technology.

Dominic Williams, DFINITY Chief Scientist and Founder says, “I want you to imagine a world where you can securely validating yourself to online services without ever touching a username and password or touching cryptographic crucial product, using simply your devices. I desire you to picture a world where you can log into internet services without ever being tracked throughout internet services. And I want you to think of a world where this is taking place at a far greater degree of convenience than any sort of authentication service that you use today.”

Figures: Screenshots of Internet Identity– an online identity service to access apps running on the Internet Computer.

The Internet Computer is the culmination of 5 years of extreme research study and development by a lot of the world’s top cryptographers and distributed systems and programming language professionals. The result is a decentralized worldwide compute platform that is being drawn out as part of the public web– marked by the release of all related source code into the public domain.

“Going forward, the DFINITY Foundation, the freshly formed Internet Computer Association, and lots of other organizations will work tirelessly to enhance Internet Computer technology and support those participating in the community. For its part, the DFINITY Foundation prepares to continue scaling out its R&D operations,” says Dominic Williams, Founder and Chief Scientist of DFINITY. “In 20 years’ time, the open web will lastly be significantly bigger than Big Tech’s closed exclusive ecosystem, which will now remain in terminal decline but will take forever to disappear for similar reasons that explain why COBOL code is still running. Much of our crucial global society’s info facilities, systems, and services will now be operating on the open, unstoppable, and tamperproof Internet Computer blockchain network. This will produce extensive transformations in how things work, and support an unimaginably richer web community that integrates more development, collaboration, and dynamism that drives positive financial growth around the world.”

CryptoNinjas” DFINITY Foundation introduces its blockchain-powered ‘‘ Internet Computer’