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DFINITY’s Internet Computer Protocol

The Internet Computer was built by DFINITY to store data, assist application development, and facilitate interoperability with other networks and devices

Evolution Of ICP: DFINITY’s Internet Computer Protocol iBase Trading.
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HThe cThe Internet Computer was built by DFINITY to store data, assist application development, and facilitate interoperability with other networks and devices. DFINITY develops the Internet Computer Protocol (ICP). All things considered, disintermediates commercial cloud services by replacing the existing stack. ICP is a public blockchain network. It will be the first measurable, cloud-like blockchain platform to host internet services, websites, and financial systems built. It is done by purely utilizing smart contacts (and with no external complimentary private methods).

 DFINITY’s Mercury mainnet

On May 7, 2021, DFINITY launched its Mercury mainnet. This hallmarks the network’s transition to full public availability. In additon,  DFINITY aims to accomplish a broad list of goals. This was after DFINITY released components of Internet Computer Protocol.

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The platform can increases its interaction and grow exponentially. Being that, the number of people using it must undergo dramatic increases via network effects. Therefore, making it the first goal to establish public network growth.

Furthermore, immutable cryptography and key chain technologies will be used to enhance the Internet Computer’s security and privacy in the future.

ICP GOALS

DFINITY seeks to make information system maintenance and development more efficient. At this instant, using ICP’s version of smart contracts or software canisters makes it possible. These are designed to limit the complexity issues re-imagining smart contracts.

Traditional cloud service providers hosts most web and mobile applications. However, these providers are prone to, firstly, malicious codes. Secondly, security breaches. Thirdly, privacy concerns, and a lot more in-efficiency.

The Internet Computer seeks to address these conflicts. Having said that, the company eliminates centralized intermediaries that allow developers to create systems with end-to-end security. Therefore, reducing the potential risk of going offline, censored, or corrupted.

Finally, the Internet Computer aspires to improve the user interfaces of existing cryptographic services that were previously available. Instead of creating accounts and completing Know-Your-Customers procedures, an autonomous cryptographic key to enhance the ICP recognizes users.

DFINITY released The ICP four components between 2019 and 2020

Copper

The company launches Copper in 2019 (Q4 2019). The company makes the public edition of the DFINITY Canister Software Development Kit available to the public (SDK). The SDK initiates the specialized smart contracts called canisters. In addition with the custom computer language Motoko software that produces highly-tamper resistant software and services for the Internet Computer.

Bronze and Tungsten

In 2020, the Bronze (Q1 2020) and Tungsten (Q2 2020) marked the opening of the ICP to broader capabilities of web application development. Bronze enabled the ICP crypto protocol’s transition from terminal-based to desktop web application development. People commemorate the the availability of ICP to third-party developers. Tungsten adds support for Internet Computer mobile applications development.

Sodium

The release of Sodium (Q4 2020) in 2020 marked the release of the Network Nervous System (NNS) – a specialized autonomous master subnetwork made for the economics of the protocol and the hosting and governance of all subnetworks within the system.

Critics argue about the insufficiently decentralized ICP system. DFINITY exercises disproportionate control. They also have argued that the ICP crypto governance system, the NNS. After all, might fail because of the possibility of shutting down applications created by the platform. However, ICP is still active and well-known in the blockchain-enabled internet environment despite these problems.

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Tanya Smith is an editor at iBaseTrading. With M.A. in Journalism and Mass Communication, she is pursuing her dream of creating a positive difference in the media industry. She also enjoys Fashion and Travelling.