Web2 and Web3 are two different generations of the World Wide Web. While Web2 is a centralized platform, Web3 is decentralized and powered by blockchain technology. The success of Web3 has been enormous, with many people now moving from Web2 to take advantage of its benefits. However, the path to Web3 is not always straightforward. It is complicated and requires a deep understanding of both technologies. Today's guide will ensure you have the right information to successfully move from Web2…
A Brief Overview of Internet Computer (ICP)
Not many blockchain-based platforms have taken the world by storm in such a short time, but Internet Computer (ICP) seems to have crossed the threshold. As a disruptive technology, this protocol wants to alter the internet by injecting decentralization and reducing the effects of a few tech giants.
The proprietary protocol that this platform uses to offer its innovations is the Internet Computer Protocol (ICP). With the tools that this ecosystem provides, developers can conveniently churn out dApps. Also, they can release their content on the internet without worrying about the snags that come with big centralized tech companies.
This blockchain intends to reduce the unnecessary costs that traditional internet companies and their publishing gurus practice. Dfinity, this platform’s creator, claims that issues like hacking will not be feasible because of decentralization.
Internet Computer’s (ICP) Architecture
As proprietary software, the Internet Computer Protocol controls the platform, which consists of blocks. At the bottom of the protocol, the data centers store advanced hardware nodes. Subnets appear when the nodes become a group. That’s how they stock canister smart contracts. Like on other blockchains, smart contracts here allow users to create an immutable agreement embedded with terms and conditions.
When uploaded into the blockchain, smart contracts consist of states and codes created by the users.
Developers can craft out interesting innovations to spread openness on the internet. As a result, they allow their users to enjoy more features without ridiculous restrictions.
Different aspects of ICP are peculiar. However, one thing that makes it stand out from others is the NNS – Network Nervous System, which monitors, alters, and ensures the smooth running of the chain.
Before a data center can access the platform, the NNS must vet it. Its duties are similar to the tasks carried out by ICANN in the traditional internet space. As the center of the ICP, the jobs assigned to Network Nervous System are crucial to the survival of its ecosystem.
Apart from vetting the data centers and inducting them into the network, it oversees the nodes to search for erratic occurrences. The working mechanism is straightforward. The system looks for statistical deviation of the nodes and, once it spots a fault, fixes it. Nodes that misbehave will receive sanctions and even cut out from the network.
Every data center that runs nodes in the chain is rewarded with ICP tokens, which the NNS creates. Other participants rewarded with new tokens include the neurons voting on proposals that would change the ecosystem. Before choosing a proposal, the neurons have to cast their votes, and new tokens are the reward for participating.
The internet is a formidable tool that developers, businesses, and individuals use to build, sell and publish their content. ICP is altering the existing way of doing things on the internet by incorporating better opportunities.
Instead of developers using centralized tools that are prone to a single point of failure and other issues, developers will build their enterprise systems and websites with the innovative tools accessible on Internet Computer. This takeover attempt will unleash massive numbers of open internet platforms and decentralized apps on the internet. When Internet Computer will finish its plans, internet-based services and platforms will no longer depend on the servers of centralized tech bodies.
When you consider that ICP is less than a year old, at the time of writing this, it has made a name for itself, and this may be due to several reasons. The platform gets backing from notable names in the blockchain realm, making it easily acceptable by many. Its technology intends to disrupt the internet, which is intriguing to watch.