What is Internet Computer (ICP)?

Internet Computer (ICP) is a decentralized blockchain network designed to propel the borderline of internet functionality and back smart contract development extensively.

Its goal is to pivot the public internet into one of the best computing platforms by introducing Chain Key Technology. These cryptographic protocols include Threshold Relay, Non-Interactive Distributed Key Generation (NI-DKG), Network Nervous System (NNS) and Internet Identity.

Internet Computer (ICP) is positioned as a revolutionary network by its developers due to its accessible blockchain and excellent functionality. Additionally, it offers a limitless platform for smart contracts that operates at web speed with lower computational costs.

Developers can create DApps through Internet Computer by installing their code online and completing low-cost transactions within seconds. This allows users to choose between centralized and commercial cloud services.

Who Created Internet Computer (ICP)?

Dominic William is a crypto theorizer and entrepreneur that founded DFINITY, a non-profit scientific organization with remarkable technologists. William graduated from King’s College London with merit for being 1st in Computer Science.

He is accountable for creating Threshold Relay, Probabilistic Slot Consensus and other novel crypto techniques. He was the president and CTO of String Labs, a nursery for venture-backed crypto plans.

His previous experiences include being a member of the Bitcoin and Ethereum technical group, the starter of DeFi at Mirror Labs, and the founder and CEO of Fight My Monster, an MMO game specifically for kids with millions of users.

He also created a few startups, including System7, Airdocs and Smartdrivez.

How does Internet Computer (ICP) Work?

Internet Computer (ICP) operates through Chain Key Technology by allowing them to complete transactions within seconds through a public key and expand network scalability by building nodes and creating subnets.

Internet Computer’s goal is to apply a decentralized technology to the internet by allowing people to share content and create software without needing services from big tech companies.

Is Internet Computer (ICP) a Good Investment?

Internet Computer (ICP) might be a good investment if you’re looking for innovativeness. Chain Key Cryptography is the central innovation behind the Internet Computer.

There are various scientific breakthroughs and transformations in crypto engineering. Prominent examples include:

• Network Nervous System (NNS) DAO instantly upgrades the protocol depending on approaches made by the community. In addition, it allows blockchain networks to scare infinitely by continuously adding new nodes.
• A low cost of decentralized data storage via Internet Computer enables business-minded people and developers to run Web3 DApps entirely on-chain.
• It runs smart contracts that serve HTTP calls to users directly, making Web3 DApps on the Internet Computer a first-rate and user-friendly experience of current mass-market Web2app and games like Tiktok and Fortnite.
• It has a reverse-gas model that enables developers to pay for running Web3 DApps, Defi, games, NFTs, social media and metaverse projects.
• Internet Computer also decreases the barrier to mass market adoption by letting users connect with Web3 DApps without requiring tokens and token wallets. This removes the need to pay gas fees to mint NFTs, process DeFi transactions, play games, interact with social media DApps etc.

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