What is Internet Computer ? Internet Computer simply Explained In 3 Minutes.
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İnternet Computer is a blockchain-based decentralized network intended to provide a “limitless” environment for smart contracts and other decentralized applications to run at web speed. Launched by Swiss-based cryptography foundation DFINITY, Internet Computer provides key infrastructure upgrades that may potentially solve the scaling issues of other blockchain networks such as Ethereum.
By using Internet Computer, DFINITY’s site advocates, developers can build everything from mass-market tokenized social media platforms that seamlessly run on-chain, entire DeFi ecosystems, and even extend Ethereum-based dApps– all of which would be done at web speed and at a fraction of current computing costs.
Part of Internet Computer’s toolbox is the delegation of merchants to nodes, or supernodes, where the system experiences a slight bend of centralization. It removes environment-related limitations for developers such as physical or virtual network configuration requirements alongside firewalls, network topology, and port management– developers don’t even have to worry about database configuration and maintenance.
Internet Computer’s bold mission should rightfully be critically examined by proponents of blockchain, because if it does work at the promised scale, it could change the blockchain industry.
Founded in October 2017 by Dominic Williams, Internet Computer quickly rose to prominence and in the market cap rankings.
Williams invented Threshold Relay and Probabilistic Slot Consensus and is an active member of Bitcoin and Ethereum technical communities. Prior to ICPO, he worked as the CTO of String Labs and was the Founder and CEO of Fight My Monster, a massively multiplayer online game and fun social media network for kids.