Why you should build your web3 dapp in ICP Blockchain
Make the most of web3 with ICP Blockchain providing the best features in web3 space
We all know. There are even too many blockchains and the sector is very confusing
Where should I build my web3 project? Ethereum, Solana, Avalanche or maybe ICP?
Today I want to explain to you the opportunities to build in the Internet Computer Protocol blockchain.
Let’s get started.
Features
The Internet Computer is the world’s fastest general-purpose blockchain to build the future of Web3.
ICP’s basic idea is to create a new kind of decentralized internet and global computing system — where independent data centers all over the world could join together to create an alternative to the cloud services (from companies like Amazon Web Services and Google Cloud) that power most of the current internet. ICP’s plan is to have the protocol running on millions of computers around the world.
ICP developers say the resulting network has some key advantages over the centralized alternatives. For one, it operates via open standards and avoids the conflicts of interest that can arise when a major cloud-computing provider hosts products that compete with its own services.
From Coinbase article about ICP
Web-speed running
the Internet Computer Protocol has a TPS of 11500 and it’s infinitely scalable. In other words, nowadays the ICP can finalize transactions in 1 second.
100% Onchain storage
Most of the Blockchain such as Ethereum utilize cloud centralized services like AWS, Azure, or similar to host their files and nodes. Blockchain technology is utilized for small transactions mostly related to defi.
ICP can rely on independent data centers and thanks to the interconnected invisible subnets it can store any files and can be scalable.
5$per GB/year
Build and hosting your web3 dapp entirely in ICP is cheap compared to the other blockchain: for example, in Solana it would cost $1m
Reverse gas fees model
End-users do not pay gas fees. Canisters (smart contracts) are pre-loaded with cycles, paying for their own computation, and users don’t need to pay (or even know they’re interacting with a dapp).
What kind of web3 dapp can I build on ICP?
Any kind. On the Internet Computer you can create anything you create on the web2, in the web3, within interoperable canisters(smart contracts).
Check out the dapps already within the ecosystem:
Examples
DSCVR: a decentralized version of Reddit, where users are the owners. Built on Internet Computers, and accessible from any browser.
InfinitySwap: an AMM platform for creating, staking and exchanging tokens on Internet Computer. Backed by Polychain Capital and 9YardsCapital
Entrepot: on-chain tools and services to design, deploy and manage traditional NFTs and tokens.
Learn more on https://dfinity.org/showcase/
Grants from DFINITY Foundation
ICP ecosystem is growing and Dfinity Foundation is funding new interesting projects.
There are Developer grant, Community grant, and Beacon Fund.
Learn more on dfinity.org/grants
Supenova Hackathon
Supernova Hackathon is starting on the 10 of May with $6M prizes + grants.
Learn more in my previous article here.
Have any questions or doubt? Or maybe I forgot some interesting feature it would be nice to add to the article?
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