The Internet Computer can heighten its capacity to host smart contract computations and store any amount of data without limits, with its open Network Nervous System (NNS) and algorithmic governance system controlling the network.
The NNS securely connects to compute the capacity of node machines. Thus, creating the Internet Computer blockchain network. In order to be adaptive and freestanding, it is hosted within the network
The Network Nervous System took accountability for conducting network management tasks once the mainnet bootstrapped itself. After its launch, the NNS prepared two initial proposals, installing node machines into a new subnet.
A subnet is a notable blockchain in the ICP network that connects smoothly with other blockchains to increase its capacity. With this, the Network Nervous System started advancing and establishing the network.
The network’s employees shows advancement
However, the success of the initial decentralization marks a tremendous achievement for the DFINITY Foundation that initiated the project. It also includes the communities building the network, everyone who took part in the Internet Computer project. And lastly, everyone around the world who can benefit from what this network can do.
The network bootstrapping is a part of the Mercury milestone – the fifth launch milestone in 2019. Achieving Mercury is nothing short of a step towards the last “Genesis” decentralization step. The NNS releases ICP utility tokens after it processes a trigger proposal. After Genesis, the users and recipients can now participate in the network governance process and dissolve their neurons. This has released tokens and converting them into series to power computation.
Several parties will help the Internet Computer project pass these remaining processes. These processes include the DFINITY Foundation bringing all related source code that cannot be accessed via the public domain. The publication and distribution of vast amounts of technical and design information about ICP (Internet Computer Protocol), including full descriptions of chain key cryptography and protocol math, makes the Internet Computer network possible. The security audits and stress tests passed; the publication and distribution of a few additional features that didn’t quite make Mercury; and the publication and distribution of CanCan (a complete “open internet service” sample dapp). These are the final stages before the ramp up to Genesis.
The Internet Computer
For the same reasons that explain why COBOL code is still running, the open internet will eventually be substantially larger than Big Tech’s closed proprietary ecosystem, which will presently be in terminal decline but will take forever to collapse in 20 years. The open, unstoppable, and tamperproof Internet Computer blockchain network will now power most of our critical global society’s information infrastructure, systems, and services. It will result in significant changes in how things work and promote an immeasurably richer internet environment that includes more invention, collaboration, and energy, all of which contribute to global economic growth.
Smart contract technology will have made major and significant changes to how society operates worldwide, significantly improving personal privacy, liberties, and sovereignty. DeFi will be far more extensive than traditional finance. Much of what is now referred to as the developing world will be managed totally on the open internet, giving advantages and efficiency that will further equalize opportunity. By this time, the network will have absorbed all kinds of new technology, from quantum-safe cryptography to new functionality, and it will look considerably different from how it does now, with the help of a new vanguard of researchers and engineers who will be driving it ahead in the meantime.
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