Bitcoin continues to shake out $60k FOMO entries by the minute. With many others like myself praising the Bitcoin Gods for another chance to buy the dip. While no one can tell you where the price will go from here. A few altcoins like the unstoppable force of Polygon continue to pour on the sickest of gains this year. From just January 2021 MATIC has returned a solid 100x in around 120 days. Sushi and Harmony had respectable 50% gains this week. But, nothing close to the value capture that continues to happen with the Polygon ecosystem. Jumping into this week, we’ll be looking at both a long anticipated and fairly forgotten cloud computing project from 2017 called Internet Computer Protocol.
Introduction
The Internet Computer Protocol is a project developed by the DFINITY Foundation to create the world’s first adaptive blockchain Virtual Machine. With the sole purpose of extending the functionality of the public internet from a network that connects billions of people, to a public computing platform that empowers millions of developers and users. To provide a revolutionary new way to build mass-market open internet services, pan-industry platforms, secure enterprise systems and websites. Without the need for legacy IT such as centralized cloud computing services, databases, and firewalls. Scalability is a huge problem for decentralized apps and smart contracts as seen with Ethereum. The Internet Computer project aims to address this problem and solve the scalability trilemma while still maintaining decentralization with scalability. The Internet Computer itself is a dynamic collection of intercommunicating replicated state machines. With commands for atomic broadcast on one replicated state machine derived from messages received from other replicated state machines, or from external clients. The ICC protocols themselves are extremely simple and entirely self-contained. There are no complicated or unspecified subprotocols to manage for developers. Built largely to serve developers the DFINITY Ecosystem is made up of a Beacon Fund to finance the development of dApps and internet services, Fellowship for educators, grad students or TAs, and Enterprise services to help legacy IT coordinators secure and speed up their business.
As the Internet Computer isn’t a physical thing. Sub-networks provide physical hardware and resources like CPU and memory for performing software operations. Each sub-network consists of individual Nodes that run the specialized software components of the Internet Computer protocol. To provide a truly decentralized network that can withstand potential service disruptions, physical nodes that make up any given subnet are distributed across data centers in diverse locations. The nodes themselves might be owned or provided by different parties in partnership or unaffiliated with the data center location where they operate. The distributed architecture enables secure communication without firewalls or technologies that are vulnerable to attack. Independent data centers receive payment for contributing computing capacity and hosting services to support applications running on the platform. This virtual machine provides a seamless environment in which an advanced new form of smart contracts can be run. Smart contracts that are tamperproof, unstoppable, and can plug into other contracts within a seamless…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
