Is Internet Computer Protocol the next evolution of the internet?

[AgnosticBoy]

If Bitcoin is the next evolution, and some might say revolution, of money, then Internet Computer Protocol (ICP) is being looked at by some as the next evolution of the internet. The aim of ICP is to place the internet on blockchain technology, the same technology that Bitcoin runs on. For those of you unfamiliar blockchain technology, it is basically a network of computers that can serve as a ledger. As such, it can store and transmit information, and it does it all in a decentralized way (no need for banks, cloud services, etc) and transparent way. Now imagine being able to provide internet using that type of technology.

Here are some advantages that ICP would have over the way the internet works now:

According to information on their website, storing one GB of data would cost just around $5 per year, and for just one cent a user can perform about 10,000 transactions on the Internet Computer Protocol (ICP). We can thus conclude that developing applications on the Internet Computer is more cost-effective than other blockchains and traditional alternatives.

Also factoring in the fact that there is no need for external hosting providers, developers can thus save on server costs, making it an attractive alternative for projects with limited budgets.

The Internet Computer’s decentralized network of nodes ensures enhanced security by eliminating single points of failure. Unlike centralized systems, the blockchain’s distributed nature makes it more resilient against attacks and data breaches.

Also, the integration of Internet Identity gives the Internet Computer another edge over other blockchains and tech solutions. In all, this feature enhances security and user convenience, reducing the risk of identity-related security breaches.

Source: Medium

For more information, I recommend watching these 2 good video presentations:

(from 17:00 minute mark to 30:00 mark)

 

[AgnosticBoy]

Meet the founder of ICP, Dominic Williams...

Here he talks about the history of ICP and its goals and functions... it's a good sum up...

If I had the know how, I would consider having this forum hosted on ICP. I'd have to look more into it and I'd especially want to know why no firewall would be required.

 

[AgnosticBoy]

Good up-to-date reporting on the Internet Computer Protocol for those of you who are bullish about this asset and tech...

 

[AgnosticBoy]

ICP seems to have two organizations that contribute the most to how it runs. One is called the Dfinity Foundation and then there's the Origyn Foundation. Looking into these two organizations has me bullish on ICP.

Regarding Origyn:

Founded in 2020, the ORIGYN Foundation is not just any foundation; it's a forward-looking Swiss Foundation with a mission: launching a decentralized protocol for safeguarding and tracking both digital and physical assets. The core focus of the foundation is to contribute, democratize and help to develop the ORIGYN Protocol. While the foundation is the primary contributor, they value collaboration and are not alone in this endeavor.

Source: https://www.origyn.com/

On Dfinity:

We are a Swiss-based not-for-profit organization with the largest R&D team in blockchain.

Source: https://dfinity.org/ (for more detail, also read here)

Both are Swiss based companies. Here's a good video covering some of what Origyn is doing:

 

[AgnosticBoy]

I recently upgraded my Chatgpt account. Here's what Chatgpt says about ICP:
Me: internet computer protocol?

ChatGpt: The Internet Computer represents a significant step towards a more decentralized and autonomous internet, where developers can build and host software and services without relying on traditional cloud services and server infrastructures. This technology has the potential to disrupt the current internet architecture and pave the way for a new era of decentralized applications.

 

[AgnosticBoy]

Bullish news for ICP... it's getting an ETF.. well close, it's really an ETP:

Valour Inc. ("Valour"), a leading issuer of exchange traded products ("ETPs") that provide simplified access to digital assets, will offer a physical backed ETP for the ICP token in Collaboration with DFINITY Foundation.

The fast growing Internet Computer community is focused on building out a new Web3 Internet ecosystem and moving the vast majority of online systems and services on-chain. This enables the replacement of traditional IT with unrivaled cost-efficiency, security and performance, paving the way towards blockchain singularity.

"This offering signifies an exciting development in the digital assets space," said Olivier Roussy Newton, CEO of DeFi Technologies and Director of Valour. "Through our asset-backed issuance platform and operational expertise in the ETP market, we aim to create robust and diversified investment opportunities for investors."

Valour Inc. issues exchange traded products (ETPs) that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account.

Source: https://www.nasdaq.com/press-releas....-announces-plans-to-launch-a-physical-backed

 

[AgnosticBoy]

Here's an excellent video interview of a data analyst for ICP...

Internet Computer - The Smart Contract Cloud

Meet Internet Computer - a smart contract cloud that hosts everything on chain - data, content, computations and user experiences. We talk to Kyle Director o...

www.youtube.com

Some key fundamental questions were covered, like what is ICP, was it a rug pull, how it compares to Amazon cloud services, how it compares to web to infrastructure, etc.