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| − | '''The Internet Computer''' blockchain is a real "world computer" that removes the traditional limitations of smart contracts using advanced new cryptography and distributed protocols.
| + | #REDIRECT [[Introduction to ICP]] |
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| − | ==Vision and Value Propositions==
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| − | ===Web speed===
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| − | Smart Contracts are fast and performant to allow developers to build anything. The design goal is that developers can build consumer-facing experiences that are as fast as they would expect from centralized servers. Dapp developers do not need to choose between "smart contracts" and "fast."
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| − | From a blockchain POV, [[Internet Computer Performance]] performance tests shows the IC a finality of 200 milliseconds for query calls and 2 seconds for update calls. As of December 1, 2021, The Internet Computer can handle 2,500,00 queries per second and 1,500 update calls per second.
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| − | ===Environment and cost===
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| − | Unlike most blockchains, the efficiency and costs of the Internet Computer approaches traditional IT stack.
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| − | For comparison:
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| − | {| class="wikitable"
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| − | |+ Caption text
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| − | ! Blockchain !! Storage Costs !! Transaction cost
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| − | | Ethereum || $350,000,000 USD per GB per year || Example
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| − | | Internet Computer || $5 USD per GB per year || Example
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| − | |}
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| − | ===Network scales without limit===
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| − | Can scale to process unbounded volumes of smart contract data and computation
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| − | ===Network scaling is transparent to systems===
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| − | Network scaling is transparent to smart contract code
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| − | ===Web serving (true Web 3.0… dapp websites running on AWS is Web 2.0)===
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| − | * Smart contracts securely serve web-content directly to users
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| − | * Users interact with dapps w/o having a wallet or tokens (reverse gas + Internet Identity)
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| − | ===Network Nervous System===
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| − | * Automated in-protocol governance makes the network self-directed
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| − | * Network is constantly expanding, upgrading and improving, w/o downtime
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| − | * Seamless community-driven evolution and governance without disruptive hard forks
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| − | * Acts as a community fund that drives blockchain economy
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| − | ===Novel “canister” smart contract framework===
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| − | * Orthogonal persistence (data lives in persistent memory pages)
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| − | * Actor model (deterministic parallelism, internally and externally)
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| − | * Access to perfect randomness
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| − | * Integration with other blockchains e.g. they have Bitcoin addresses
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| − | ===Service Nervous System (SNS) economic framework for dapps===
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| − | * Advanced DAO can take control of a dapp
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| − | * Dapps run under the control of a community (full decentralization)
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| − | * Dapps run as extensions of the blockchain (microeconomy with macroeconomy)
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| − | * Dapps can raise funds into the SNS; funds controlled by community
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| − | * Cycles act as stable-value currency for DeFi
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