Web Laptop is a new and modern blockchain technology, developed by DFINITY Footing. Its purpose is to give a new direction to the Internet and blockchain, which is fully based on decentralization. Internet computer is called a “world computer”, as it is a technology that is capable of operating web applications, social media and other online services on a large major of the need for traditional cloud computing service.
How does internet computer work?
The way of working of internet computers is different from traditional blockchain. Cloud services or software is required to run normal blockchain, while the Internet computer is completely based on its own network, called “node machine”. These nodes are connected to each other through internet computer protocol (ICP).
The most important aspect of this blockchain is that it runs its network structure on the principal of “proof-off-uzal-work” (evidence-of-heelpful-paintings). This means that all the nodes involved in it have to do real work to generate blocks, so that the network continues actively. To get complete information about Blockchain Era you our blog What are blockchain Can read
What is the work of ICP Token
ICP (Web Laptop Protocol) token is an important unit of internet computer and has three main functions.
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Conversion for cycles, ICP token can be converted into cycles, which are used for communication and computation on the network. When the ICP is converted into cycles, it “burns”, which generates a defense pressure.
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Stating and governance, The ICP can be stake in the network nervous system (NNS). NNS is a decentralized autonomous organization (DAO) that govern the network of internet computers. Steaking provides voting rights to the token holders and also gets rewards.
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Value storage, ICP Token can also be used by web3 services to invest in decentralization cells, which also acts as a value storage.
Internet computer characteristics
Internet computers have many unique features, which make it different from other blockchain:
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Chain-key cryptography, This is a special technology for internet computers that ensure that the subnets of the network are communicating correctly among themselves. Through this technology, smart contracts can process HTTP Request and provide interactive web experience to users, which is very strong in security point of view.
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Canister Smart Contracts, Smart contracts in internet computers are called “canister”. These contracts are a collection of webassembly bitecode and data pages. They are used to store data, make hard calculation and provide web content directly to users. This enables multi-block transactions and automatically smart contracts to be appealed.
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Http outcols, Smart contracts in Internet computer can get data from other web systems through HTTP. This provides the ability to collect potential data without any trusted oraxy service.
ICP Token and To Tronomics
ICP Token is used for many important functions.
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Stating and governance, ICP Token can be stake in NNS, allowing the network governance decisions and rewards can be obtained.
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Conversion in cycles, ICP can be converted into cycles, which are used to pay for computation, storage and bandwidth on the Internet computer. Internet computer price Go to this link to check.
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Rewards to node providers, The network of internet computers is run by node providers. They get rewards on the basis of their performance, which are determined by the NNS.
Internet computer direction
The future of internet computer is very spectacular. Its roadmap is based on many important facilities, such as:
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Dao-control canister, Each application on the Internet computer will have its own decentralized Autonomous Organization (DAO), which will be controlled by the “Service Nervous System” (SNS).
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Cross-chain integration, Internet computer integration with bitcoin and ethereum is accelerating. It is working on the Association of Smart Contracts and Asset Bridge.
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Innted privacy and scaling solutions, In the future, internet computers may have better privacy features and scaling solutions, which can further increase its capacity.
Conclusion
The Internet computer is an innovative and powerful platform, which provides new opportunities, taking advantage of dyscentrization and blockchain technology. Through this, we can manufacture impish pledges, defi, internet 3.0 and other virtual services and products, which are attached to any central server. ICP Token’s utility makes it a strong economic unit and it can be more important with its development in the future.
