Internet Computer (ICP) Feed: Events, News & Roadmap
Internet Computer Events on the Chart
What is Internet Computer?
The Internet Computer is a versatile blockchain developed and initiated by the DFINITY Foundation in May 2021 with the aspiration of becoming a “world computer” that can host decentralized applications (dapps). The goal is to provide controlled computing costs that significantly outperform traditional blockchains' cost fluctuation and scalability issues. The Internet Computer’s backbone is Chain Key Cryptography, which offers innovative features to bolster this mission.
The Internet Computer’s operation hinges on a few critical components. The Network Nervous System (NNS) functions as an open, decentralized management system that incorporates community proposals and also scales the blockchain network infinitely by continuously adding new nodes. Data storage costs are kept minimal for fostering on-chain dapp operation. Further enhancing user experience, smart contracts on this platform runs directly to serve users” HTTP requests. The platform also ensures user anonymity and employs a reverse gas model, with developers, not users, bearing the costs. In terms of infrastructure, the Internet Computer takes after Bitcoin and is not reliant on centralized cloud nodes.
The Internet Computer proprietary token, ICP, serves crucial roles in this ecosystem. It offers governance capabilities where staking ICP tokens produces “Neurons”, that allow the holders to vote on and influence proposals while earning rewards.