What is the Internet Computer?

Analyzing Dfinity’s foray into decentalized leger technology.

Overview

What is Dfinity?

• Dfinity (ICP) is a blockchain project attempting to build the first-ever world computer at internet scale. That’s where Dfinity’s Internet Computer nomenclature comes in — it refers to a public blockchain network upon which anyone can build anything without using centralized clouds like AWS.
• Dfinity is a blockchain network aiming to realize an internet-scale version of decentralized computing. In other words, imagine using an open, peer-hosted internet that didn’t live on centralized clouds, servers, and through corporate providers.

What are ICP’s objectives?

• While Ethereum has this abstract goal of becoming the world computer, ICP’s sole objective is to change the web as we know it.
• Essentially Dfinity wants to enable websites to host software and data, without relying on a separate third party like Amazon Web Services.
• To date, the Internet Computer has created decentralized LinkedIn, known as LinkedUp, and their own decentralized TikTok aptly titled CanCan.

Technical Architecture

What is a Subnet?

• A subnet is a special blockchain within the Internet Computer network that can integrate with other blockchains to increase capacity.
• The Network Nervous System combines nodes from independent data centers to create subnets that host canisters, an evolution of smart contracts.
• Each subnet runs its own blockchain, and canisters run on-chain, allowing them to call canisters on other subnets/chains seamlessly.
• There is no difference between calling a shared canister function on the same subnet or a different subnet.
• Subnets are transparent to canister code and users, and the ICP protocol replicates data and computation across subnet nodes in the background.
• The system is more secure than traditional blockchains as the protocol controls the precise decentralization of data and computation.
• Traditional PoW or PoS pooling, or creating validator nodes with vast amounts of stake, is not possible.
• Direct interaction between subnets is enabled by Chain Keys, which are made possible by novel advanced cryptography developed by DFINITY.

What is a Cannister?

• Canisters are computational units that contain both program and state.
• They are similar to containers in that they contain compiled code and dependencies for an application or service, allowing for easy deployment.
• However, canisters also store information about the current software state with a record of preceding events and user interactions.
• While containerized applications might include information about the state of the environment, canisters persist a record of state changes resulting from an application’s functions.
• Canisters consisting of both program and state are important because there are only two types of calls: non-committing query calls and committing update calls when a canister function is invoked by sending a message to one of its entry points.

How does it work?

• ICP runs through an open algorithmic governance system called the Network Nervous System (NNS).
• This complex system is managed by ICP’s network of nodes.
• These nodes also create subnets (or applications) that execute a unique type of smart contract called canisters.

Zoom In for a Consolidated Overview about ICP’s Architecture

Foreseeable Advantages

Distinguished between Moxie Marlinspike’s Statements and ICP’s offerings

Foreseeable Disadvantages

Perspective on ICP based on its value propositions

Conclusion

Dfinity’s Internet Computer is a blockchain project with the ambitious goal of building the first-ever world computer at internet scale. With its unique architecture that includes subnets and canisters, the project aims to realize an internet-scale version of decentralized computing. While the technicalities behind ICP may be complex, the project’s objectives are clear: to change the web as we know it. With decentralized LinkedIn and TikTok alternatives already in existence, it’s exciting to see what other innovations the platform will bring.

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References

• https://www.youtube.com/watch?v=YGrFj3pav_A
• https://academy.shrimpy.io/post/what-is-dfinity-icp-explaining-the-internet-computer-protocol#:~:text=Dfinity%20(ICP)%20is%20a%20blockchain,using%20centralized%20clouds%20like%20AWS.
• https://medium.datadriveninvestor.com/everything-you-need-to-know-about-the-internet-computer-protocol-5744266e6ed8
• https://medium.com/coinmonks/the-internet-computer-the-future-that-vitalik-buterin-is-talking-about-97e21ab842fe
• https://medium.com/coinmonks/the-internet-computer-the-future-that-vitalik-buterin-is-talking-about-97e21ab842fe
• https://medium.com/dfinity/a-technical-overview-of-the-internet-computer-f57c62abc20f
• https://medium.com/dfinity/understanding-the-internet-computers-network-nervous-system-neurons-and-icp-utility-tokens-730dab65cae8
• https://www.youtube.com/watch?v=H2p5q0PR2pc

Credits

Thanks for the inspiration Isaiah McCall Shruti Sutwala & Coinbureau