What is Internet Computer (ICP) and How is it Creating a Decentralized Web?

The Internet Computer is a relatively new blockchain with lofty goals. It wants to replace the current internet, along with all the “legacy systems” that power the web. Its goal is to bring about the “blockchain singularity”, an eventual endpoint where everything on the internet will be run on blockchain technology.

While its likely that a time will come where all applications are run on some type of blockchain or distributed ledger system, will that future involve the Internet Computer?

The core idea behind the Internet Computer is that, instead of running software on a dedicated server, such as Amazon Web Services or Google Cloud, the software essentially “moves around’ various servers based on independent data centers. These data centers are geographically dispersed throughout the world.

DFINITY, the foundation behind the Internet Computer, claims that it is “the world’s first truly Internet-scale public blockchain”, in the sense that it can process and store an infinite amount of data.

Who is behind the Internet Computer?

Internet Computer is governed by the DFINITY Foundation, a non-profit based in Switzerland, which was founded by veteran computer scientist Dominic Williams in 2016. The foundation has attracted hundreds of computer scientists from around the world, who have been working feverishly on the development of the protocol for the last number of years.

How does the Internet Computer Work?

The Internet Computer protocol is made up of a hierarchy of building blocks. First, there are multiple independent data centers, which are distributed around the world. Each of these data centers contains a series of nodes. These nodes are grouped together to form “subnets”. And finally, the subnets host the Internet Computer’s smart contracts, which are known as “canisters”.

The Internet Computer is a Proof-of-Stake blockchain, and it uses a mechanism called “threshold relay” to reach consensus. Essentially, the blockchain is governed based on the number of ICP tokens staked.

Network Nervous System

Internet Computer’s Network Nervous System (NNS), controls, configures and manages the network, Data centers get permission to join the network by applying to the NNS. Dfinity describes the NNS as being analogous to the current internet’s ICANN.

The NNS also creates new ICP tokens, which it rewards to network nodes for voting on consensus.

The end of passwords: Internet Computer’s “Internet Identity”

Not being content with making Amazon Web Services obsolete, the Internet Computer’s creators also want to get rid of passwords.

It aims to do so by replacing them with a cryptographic authentication system or what they call “Internet Identity”. Essentially, users create identity “anchors”, which they can assign to compatible cryptographically enabled devices. This could include the fingerprint sensor or facial recognition software on a phone, or a ledger hardware wallet. Once identity anchors have been assigned to these devices, users can signup for and use any application that is running on the Internet Computer. Dfinity claims that Internet Identity also allows users to do this anonymously.

Ecosystem and Usecases of the Internet Computer

Any kind of application you can think of can be created and run on the Internet Computer. Developers have already created several decentralized versions of popular web 2.0 applications. A few examples of these are:

• DSCVR is a decentralized version of Reddit
• DISTRIKT is a decentralized version of LinkedIn
• Openchat is a decentralized messaging app, similar to Whatsapp
• Crowd Eats is a decentralized version of social review website Yelp
• CanCan is a decentralized TikTok clone.

Backers and Partnerships

The Internet Computer has received financial backing from some of the biggest investors in the crypto space, including Andreessen Horowitz and Polychain Capital.

Where to find more information about Dfinity and the Internet Computer Protocol

If you’re a developer interested in building dapps on the Internet Computer or you just want to dive further into the technology behind the protocol, check out the knowledge base on their website.