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Internet Computer (ICP) is a set of protocols that allow independent data centers around the world to unite to provide a decentralized option for currently centralized Internet cloud providers. ICP tokens are used for governance (holders can vote on the future of the network), reward good behavior of network participants, and pay for transactions.

ICP Token

In May 2018, DFINITY announced its plan to distribute 35 million Swiss francs worth of DFINITY tokens in airdrop to promote “cloud 3.0” to community members and help them become early users.DFINITY launched alpha main network on December 18, 2018.Internet computers are currently supported by 48 independent data centers in North America, Europe and Asia, with a total of 1300 nodes. It is estimated that the network will grow exponentially to support the next generation of large-scale DAPP.

In genesis, there are up to 469213710 ICP tokens, and the supply of circulation depends on the dynamics of the market. At the time of creation, it is estimated that 23.86% of the tokens were held by DFINITY foundation, 18% by Internet computer team members, 24.72% by seed donors, 9.5% by early contributors, and the rest were distributed to investors at other levels and strategic partners.

How Does ICP Work?

Today’s Internet is highly centralized. Popular applications on the network are usually closed-source, proprietary, and hosted in a few data centers owned by large technology companies. If a critical data center fails, a large number of networks may shut down. Another major problem, especially for privacy advocates, is the ability of centralized enterprise network service providers to censor or remove application platforms.

Internet computers try to provide a basic alternative that enables developers to build, host and provide applications in a more decentralized way – allowing websites to be deployed directly to the public Internet. In addition, Internet computers will stimulate open source and transparent software development.

As explained by the introduction of Internet computers in MIT Technology Review. “For example, the software does not run on a dedicated server of Google cloud, but has no fixed physical address and moves between servers owned by independent data centers around the world.”.

You can think of ICP as a way to convert cryptocurrency into processing power – the network will establish fees based on the amount of computing power required by the developer’s project. As long as this fee is paid, the website will run on the public Internet. In theory, any type of application can be created and run on Internet Computers – from social networks like LinkedIn and tiktok to software similar to all the applications you are familiar with today, to new applications that have not yet been conceived. As a demonstration, ICP developers have released cancan’s open source code, which they describe as “decentralized tiktok”.

Conclusion

Many people have dedicated their lives to the development of blockchain technology, and Internet computers show the intersection of academia and reality. From its original innovations and applications, such as chain key technology, non interactive distributed key generation (nidkg), neural network system (NNs) and ICP token, the project shows remarkable creativity.

If DFINITY and the Internet computer team can create a sustainable blockchain and solve the limitations of the current blockchain, it will sit on an opportunity to change the world. Think of the Internet computer as an open source software that uses internal governance to update itself. It is as open source software that uses internal governance to update itself, and can provide guarantee to users in the form of smart contract.

These cover how data is used, or provide guarantees for startups who want to build functionality without worrying that their access will be deleted from the platform.Internet computers will drive a wave of innovation, growth, opportunities and ways of doing things in new and intriguing ways.

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