DFinity with the Internet Computer Protocol is propelling the growth of the technology towards infinite blockchain. The infinite blockchain is a way to reimagine how to build everything. This is about a blockchain with infinite capacity.
Dominic (Dom) Williams, Founder of Dfinity, stated, “The vision we have is that people essentially abandon traditional IT and build on the public Internet,” said Williams.
DFinity Foundation tweeted: “On May 10 at 10:00 CEST, Dfinity open-sourced the Internet Computer. Now that the Internet Computer is launched, the source code of 3 primary components is live: replica, node manager, and NNS canisters.”
The ICP Protocol is self-governing. The protocol combines special node machines, which are run en masse by the independent parties who are from independent data centers from across the world. Like any other blockchain, it is unstoppable, and the code is hosted in a tamperproof manner.
The term “Unstoppable” reminds one of Ethereum, keeps wondering if this is another Ethereum Competitor/Killer. Well, ETH is growing like an 8000-pound gorilla these days, though.
The term canisters in this network refer to (Code + Data). They claim that due to the unbounded capacity, the Dapps will be able to scale. They also claim that the Internet computer is created in a way to sustain a nuclear strike.
The Internet computer is used to make many things better, ranging from tokenized internet services, pan-industry platforms, DeFi and smart contracts, Enterprise systems, and Websites.
The ICP serves as an excellent alternative to the traditional stack, which consists of several things which include but are not limited to Big Tech Cloud Services, Server Machines, Database Systems, Memcached, File system, Firewalls, Web server, DNS service, Anti-virus, CDNs, and VPNs.
Developers will be able to build by uploading canisters into cyberspace. The main purpose of ICP is to store humanity’s logic and data.
All the computation is paid for by the token economy. Since the Canisters are pre-charged with cycles that fuel the computation process, the users do not pay in Ethereum.
The ICP tokens can be further converted into cycles. And the computation burns the cycles. The tokenized governance systems control the open internet. Developers will be able to build open internet services to provide the world with alternatives to Big Tech.
To make it simple: Users can imagine being able to create a hyper-scale internet service in just 1000 lines of code.
For instance, CanCan is a very simple Dapp similar to TikTok, and it streams videos, and it incentivizes with tokens. The CanCan concept is very compelling due to the process of tokenization.
