The Internet Computer is an efficient and infinitely scalable public blockchain network that hosts a new form of reimagined smart contract software for performing general-purpose backend computations, making it possible to build Web3 social networks or order book transactions.
For example, 100% on-chain, built entirely by smart contract software in a new full-stack decentralized paradigm, advanced mathematics and computer science infuse the network with unprecedented capabilities.
To date, the network has been primarily used to build hundreds of Web3 projects, and the easiest way to understand the capabilities of ICP technology (ICP stands for Internet Computer Protocol, the language used by Internet Computer nodes) is to try out a major service like OpenChat, which hosts a large number of users, chat messages, and media, with the entire service running from the Internet Computer, including the interactive user experience generated by the underlying smart contract software by directly processing HTTP (the language of the web).
While this is a breakthrough for Web3, in this article we draw attention to its far-reaching implications for IT and computing, involving a revolution in computer security.
Users of OpenChat can maintain cryptocurrencies in their chat accounts, which they can send to others using instant chat messages without the need for a wallet as it is stored by the service. Cryptocurrencies held in the OpenChat service are obviously a honeypot for hackers, but the service operates without any cybersecurity protection at all.
Smart contract software running on the blockchain guarantees that it will always run according to the logic written and that its correct data will be processed. Smart contracts and their computations and data exist in cryptographic space. They are tamper-proof and can run without the protection of firewalls and other cybersecurity measures. They don’t even need antivirus software to protect them from ransomware.
Since OpenChat is built entirely from smart contract software and relies entirely on the blockchain, it is also tamper-proof.
Today, the IT world is in the midst of a security crisis, with Colonial Pipeline stopping working in 2021 after its servers were attacked by ransomware, causing the East Coast of the United States to lose gasoline, and more recently, MGM was attacked, not only rendering its casinos inoperable, but also locking its hotel patrons out of their rooms.
Behind such high-profile cyber breaches, hundreds of thousands of incidents occur around the world every year, with an average loss of $4.5 million per incident, and global cybercrime losses are expected to reach $10 trillion by 2025.
Cybersecurity has become a critical issue of our time, just like warfare or climate change, however, AI will make things much worse by making phishing easier, deceiving biometric security systems, performing automated hacking attacks, and automatically identifying new zero-day vulnerabilities.
The world is in desperate need of solutions. Governments are now putting the blame on those who have been hacked. Uber’s chief security officer was recently sentenced to three years’ probation for falsely reporting a hack. Thankfully, today Web3 services running on the Internet’s computer are revealing a better path forward.
In 2024, the DFINITY Foundation will support a commercial initiative to provide repackaged ICP technology to enterprises and governments that may not be ready to build on public networks, enabling them to launch secure private clouds where the software is tamper-proof and unstoppable.
Different private clouds can interoperate by registering with the Internet Computer. At the DFINITY Foundation, we are proud to help the world solve one of the most pressing problems of our time.
Later this year you’ll hear more about UTOPIA technology, which stands for Unstoppable Tamper-Proof Independently Autonomous Open Platform, and each UTOPIA is a private cloud that can run on an existing cloud or on dedicated hardware as needed.
This year, businesses and governments will begin building these advanced serverless cloud environments using next-generation container smart contract software that can be written in any language and run on a WebAssembly virtual machine. Welcome to a brighter future.
Read the full report:
Learn more about the Internet Computer at internetcomputer.org and follow the Internet Computer's story on Twitter at @dfinity.
IC content you care about
Technology Progress | Project Information | Global Activities
Collect and follow IC Binance Channel
Get the latest news