Internet Computer ( ICP ) Price Live Chart

Internet Computer (ICP)                       

The Internet Computer and its associated cryptocurrency, ICP, represent a groundbreaking advancement in blockchain technology, characterized by a revolutionary redesign based on cryptographic innovations. This blockchain introduces the concept of the "World Computer," presenting a versatile platform capable of constructing a wide array of online systems and services. Notably, it eliminates the reliance on conventional IT infrastructure, such as cloud computing services, making it uniquely positioned to facilitate the development of highly complex and decentralized applications.

This innovative blockchain is capable of powering demanding web social media platforms and various online services, offering a comprehensive solution for end-to-end decentralization. By leveraging advancements in cryptography, the Internet Computer transcends traditional limitations associated with blockchain design, opening up new possibilities for the creation and deployment of diverse digital applications. In essence, the Internet Computer and ICP aim to redefine the landscape of decentralized computing, enabling the seamless construction of sophisticated online ecosystems without the need for traditional centralized infrastructure.

Founders

The DFINITY Foundation, headquartered in Zürich, Switzerland, is the driving force behind the development of the Internet Computer blockchain. Operating research and development centers in Switzerland and California, with remote teams globally, the foundation had amassed a workforce of nearly 300 individuals, primarily focused on R&D, by mid-2022. Comprising renowned cryptographers, computer science researchers, and engineers, the team is instrumental in shaping the innovative aspects of the Internet Computer blockchain.

Established in October 2016, the DFINITY Foundation was formed to oversee the evolution of the Internet Computer blockchain. The name "DFINITY" derives from "decentralized infinity," originating in early 2015 when project founder Dominic Williams conceptualized it for his crypto-related theoretical work, envisioning a World Computer.

In February 2017, the foundation conducted an initial public Initial Coin Offering (ICO) to secure funding for scaling operations. This was followed by private fundraising rounds in 2018, attracting investments from over 100 hedge funds and venture capitalists, including notable entities like Andreessen Horowitz, predating the introduction of a16z crypto. These strategic financial initiatives have played a crucial role in advancing the development and realization of the Internet Computer blockchain.

What makes it unique? 

A key distinction lies in the operational dynamics between Internet Computer apps and Ethereum. Internet Computer applications operate entirely "on-chain," in contrast to Ethereum, which predominantly functions as a repository for transaction data. Ethereum's application efficiency is compromised by its singular large blockchain structure, necessitating the frequent adoption of "off-chain" solutions and decentralized storage services. However, according to Dutta, the Internet Computer's subnet accommodates all tasks within its on-chain framework.

Critics argue that the Internet Computer's decentralization falls short of Ethereum's, highlighting its composition of interconnected blockchains reliant on a substantial number of nodes for establishing blockchain consensus. This perspective underscores a divergence in the architectural philosophies of these platforms, with Internet Computer emphasizing on-chain execution and Ethereum resorting to off-chain strategies due to its consolidated blockchain model.

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