The High-Throughput Blockchain killer? The Internet Computer with Founder Dominic Williams | EP #115
Feb 16, 2024
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Delve into the concept of blockchain as a limitless smart contract cloud and the evolution of blockchain technology. Explore subnets and the network nervous system on the Internet Computer. Discover the future of compute platforms with blockchain and optimizing the network nervous system for efficiency. Learn about upgrading protocols in ICP and the technical innovations of the Internet Computer blockchain.
The Internet Computer aims to revolutionize back-end computing by offering tamper-proof, unstoppable, and autonomous software on a blockchain platform.
The Internet Computer utilizes a layered protocol stack to efficiently sequence transactions, create fault-tolerant subnets, and maintain decentralization.
The Internet Computer focuses on optimizing computational efficiency, scalability, and security through a decentralized protocol and advanced network configurations.
Smart contracts on the Internet Computer run in parallel, enabling concurrent processing and full-stack decentralization for decentralized web3 services.
Deep dives
Building a World Computer
The Internet Computer aims to create a world computer that reinvents back-end computing. The vision is to have blockchain as the default back-end compute platform, where software is tamper-proof, unstoppable, and can be autonomous. The main focus is to make computation efficient and inexpensive while delivering the desired security properties. The network nervous system dynamically adds and removes nodes, adjusts subnets, and ensures deterministic decentralization. Subnets are transparent to smart contracts, enabling direct interaction and seamless scaling of capacity as needed.
The Internet Computer's Unique Architecture
The Internet Computer utilizes a layered protocol stack that includes Threshold Relay, Probabilistic Slot Consensus, and Optimistic Synchronous Finalizer. It sequences transactions efficiently before processing them, avoiding state rewinds and ensuring deterministic finality. Subnets in the Internet Computer are designed to be fault-tolerant, tamper-proof, and unstoppable. The network nervous system dynamically maintains subnets, continually optimizing security, scalability, and performance. Each subnet consists of nodes from independent providers spread across various data centers and jurisdictions to enhance decentralization.
Efficiency and Performance of the Internet Computer
The Internet Computer focuses on optimizing computation efficiency and scalability. With a highly optimized protocol stack, the network achieves high finalization rates and can process a large number of transactions. The Internet Computer's subnet architecture allows for seamless scaling, with subnets dynamically adjusting their replication factor and adapting to demand. The system leverages cryptographic techniques and a decentralized protocol to ensure transparency, security, and authenticity. The Internet Computer's infrastructure is built using state-of-the-art hardware and advanced network configurations to support high throughput and low-latency communication.
Advantages and Future Potential
The Internet Computer offers unique advantages such as tamper-proof and unstoppable software, autonomy, and enhanced cybersecurity. Its focus on reimagining back-end computing and the potential to replace traditional IT infrastructure highlight the long-term vision of the project. The Internet Computer aims to become a default compute platform, reinventing how blockchain systems function and enabling the building of decentralized and trusted applications. With ongoing research and development, the Internet Computer aims to continuously improve efficiency, scalability, and security while pushing the boundaries of what is possible in blockchain technology.
Smart contracts run in parallel and use deterministic time slicing
Smart contracts on the internet computer run in parallel, allowing for concurrent processing. While they may appear synchronous when calling each other, the execution is actually asynchronous and takes advantage of parallelism. The internet computer uses something called deterministic time slicing, similar to how operating systems time slice processes on a single machine. This allows for efficient allocation of computational resources and enhances the overall performance of the network.
Full-stack decentralization and multi-chain capabilities
The internet computer offers full-stack decentralization, making it possible to build fully decentralized web3 services on the blockchain. Unlike other blockchains that may host tokens or parts of decentralized finance (DeFi) logic, the internet computer enables the entire user experience, data, and computation to be fully decentralized and controlled by DAOs. Additionally, the internet computer's multi-chain capabilities allow for interaction with other blockchains, such as Ethereum and Bitcoin, using chain key technology. This opens up opportunities for cross-chain interoperability and expanding the functionalities and reach of applications built on the internet computer.
Advantages for developers
Developers are drawn to the internet computer because of its advanced technology and commitment to organic growth. Building on the internet computer provides access to a wealth of crypto R&D that spans over a thousand years. It offers a platform for building web3 services that fully embrace decentralization without relying on centralized servers. Developers can contribute to the ecosystem and receive grants through the Finiti Foundation, gaining exposure to governance tokens and participating in the ecosystem's growth. The internet computer's emphasis on full-stack decentralization and innovative features like brain wallets further expand the possibilities for developers, providing a unique and powerful environment for building impactful decentralized applications.
Dominic Williams is the Chief Scientist of the DFINITY project
Step into the era of blockchain as a limitless smart contract cloud that hosts everything on-chain: data, content, computations, and user experiences. Forget legacy IT and build tamperproof and unstoppable Web3 social media, gaming, virtual reality, decentralized finance, and enterprise infrastructure. Join the movement and realize the game-changing Internet Computer paradigm of full stack decentralization and seamless multi-chain today.
