The Internet Computer (ICP) is a revolutionary blockchain project developed by the DFINITY Foundation. It aims to extend the functionality of the public internet by enabling it to host backend software, transforming it into a global, decentralized cloud computing platform. Unlike traditional blockchains, the Internet Computer operates at web speed and can scale to support any volume of smart contract computation.
Key features of the Internet Computer include its Chain Key Technology, which allows the network to add new nodes and upgrade seamlessly without stopping, and its novel consensus mechanism that combines Threshold Relay and Probabilistic Slot Consensus to ensure security and scalability. The ICP token serves multiple purposes within the ecosystem, such as governance participation, network transaction fees, and rewarding node providers.
The Internet Computer supports the creation of decentralized applications (dApps) and services with end-to-end security and no reliance on traditional IT infrastructure. This makes it possible to build websites, enterprise systems, internet services, and more entirely on-chain, reducing costs and enhancing security and decentralization.
ICP's vision is to decentralize the internet, providing a more open, secure, and user-controlled digital ecosystem. It aims to empower developers to build innovative applications that can disrupt existing centralized models across various industries.