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What is Internet Computer (ICP) and how does it work?

by Financial Economy
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Internet Computer; It is a blockchain that aims to transform the traditional internet structure into a global transaction platform by making it capable of hosting back-end software. This blockchain’s token for use is called an ICP. Internet Computer, the first blockchain to operate at internet speed and with unlimited capacity, scales smart contract computing data and enables them to work at internet speed, can effectively process and store data, and provides developers with powerful software frameworks. Detailed information about what is Internet Computer (ICP) and how does it work can be found in the rest of the article. Information about Polygon (MATIC), you can browse here.

What is Internet Computer (ICP) and how does it work?

Internet Computer is a project of the DFINITY Foundation. The DFINITY Foundation is a Switzerland-based nonprofit organization that oversees research centers in cities such as Palo Alto, San Francisco, and Zurich. DFINITY, which has teams in countries such as Japan, Germany, UK and USA, was founded by Dominic Williams in 2016. The Foundation, whose main purpose is to build and maintain the Internet Computer project, explains its mission on its official website:

“Our mission is to build the Internet Computer and thereby reshape the internet as a home to secure software with superpowers. Internet Computer; It is a new technology that is tamper-proof, fast, and scalable to billions of users worldwide, and supports a new type of autonomous software that promises to stop Big Technology companies from monopolizing the Internet. ”

What does Internet Computer (ICP) do?

Internet Computer is the world’s first blockchain operating at web speed with unlimited capacity. It also represents the third major blockchain innovation alongside Bitcoin and Ethereum, a blockchain that scales smart contract computing and data, runs them at web speed, processes and stores data efficiently, and provides developers with powerful software frameworks.

Information about Dfinity: https://en.wikipedia.org/wiki/Dfinity

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