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What is the Internet Computer (ICP)?
The Internet Computer is the world’s first blockchain that runs at web speed with unbounded capacity. It also represents the third major blockchain innovation, alongside Bitcoin and Ethereum —
— a blockchain computer that scales smart contract computation and data, runs them at web speed, processes and stores data efficiently, and provides powerful software frameworks to developers.
By making this possible, the Internet Computer enables the complete reimagination of software — providing a revolutionary new way to build tokenized internet services,
pan-industry platforms, decentralized financial systems, and even traditional enterprise systems and websites. The project was founded in October 2016 by Dominic Williams, and attracted notable interest from the crypto community.
DFINITY raised a total of $121 million from contributors such as Andreessen Horowitz, Polychain Capital, SV Angel, Aspect Ventures, Electric Capital, ZeroEx, Scalar Capital,
and Multicoin Capital, and several notable early Ethereum supporters. In 2018, over 50,000 registerter participants received ICP utility tokens in an airdrop. On December 18, 2020, DFINITY launched the alpha mainnet of the Internet Computer
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In a final step towards decentralization, on May 10, 2021, DFINITY launched the Internet Computer into the public domain. This major milestone means that the internet now functions as a decentralized global computer__
— marked by the release of all of the Internet Computer’s source code into the public domain, as well as ICP utility token allowing tens of thousands of community members to govern the Internet Computer network.
why icp Unique?
The purpose of the Internet Computer is to extend the public internet, so it can also be the world’s compute platform. Today, the internet is a network that connects everybody and everything, but systems and services currently run from private infrastructure.
The scientific breakthrough behind the Internet Computer is Chain Key Technology, which encompasses dozens of advanced technology such as novel Consensus,
Non-Interactive Distributed Key Generation (NI-DKG), Network Nervous System (NNS), Internet Identity, etc. Chain Key Technology consists of a set of cryptographic protocols that orchestrate the nodes that make up the Internet Computer.
It is one of the fundamental breakthroughs behind the Internet Computer, enabling it to have a single public key. This is a huge advantage because it allows any device, including smart watches and mobile phones, to verify the authenticity of artifacts from the Internet Computer.
In contrast, this is not possible for traditional blockchains. The single public key is just the tip of the iceberg: Chain Key Technology is the engine that drives the Internet Computer and makes its operation possible.
It allows for adding new nodes to form new subnets to scale the network infinitely; replacing faulty or crashed nodes with new ones without ever stopping; reviving subnets even if too many nodes within have failed;
and upgrading the Internet Computer Protocol seamlessly, allowing the network to fix bugs and add new features. The DFINITY R&D team has invented a new noninteractive key resharing protocol.
Each of the old signers only needs to broadcast a single message to the new signers. To ensure that this is done securely, many concepts from advanced cryptography are utilized, including encryption with forward secrecy and noninteractive zero-knowledge proofs.
Because it is noninteractive, the way the key resharing protocol operates is ideal for an asynchronous environment, and the benefits include key preservation. Throughout the lifetime of a subnet, it is known by a single public key, and the other parties on the Internet Computer d
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what is maker dao?
Maker (MKR) is the governance token of the MakerDAO and Maker Protocol — respectively a decentralized organization and a software platform, both based on the Ethereum blockchain — that allows users to issue and manage the DAI stablecoin.
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Initially conceived in 2015 and fully launched in December 2017, Maker is a project whose task is to operate DAI, a community-managed decentralized cryptocurrency with a stable value soft-pegged to the US dollar.
The Maker ecosystem is one of the earliest projects on the decentralized finance (DeFi) scene: the industry that seeks to build decentralized financial products on top of smart-contract-enabled blockchains, such as Ethereum.
What Is VeChain (VET)?
VeChain (VET) is a blockchain-powered supply chain platform. Begun in 2015 and launched in June 2016, VeChain aims to use distributed governance and Internet of
Things (IoT) technology to create an ecosystem which solves some of the major problems with supply chain management.The idea is to boost the efficiency, traceability and transparency of supply chains while reducing costs and placing more control in the hands of individual users.
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The idea is to boost the efficiency, traceability and transparency of supply chains while reducing costs and placing more control in the hands of individual users.
What Makes Chainlink Unique?
Chainlink is one of the first networks to allow the integration of off-chain data into smart contracts. With many trusted partners, Chainlink is one of the major players in the data processing field.
Due to the integration of off-chain data, Chainlink has attracted the attention of numerous trusted data providers, including Brave New Coin, Alpha Vantage and Huobi.
Data providers can sell access to data directly to Chainlink, thus monetizing the information they have.
As a decentralized network, Chainlink allows users to become node operators and earn revenue by running critical data infrastructure required for blockchains’ success.
Chainlink uses a large collection of node operators to collectively power a wide range of decentralized Price Feed oracle networks live in-production, which currently secure billions in value for leading DeFi applications like Synthetix, Aave, Compound and more.
What Is Chainlink (LINK)?
Founded in 2017, Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network,
Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.
The Chainlink Network is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralized participation is guaranteed for all node operators and users
Polkadot (DOT) Ecosystem
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The network uses the NPoS (nominated proof-of-stake) mechanism to select validators and nominators and maximize chain security.
This unique validity scheme enables chains to interact with each other securely under the same rules, yet remain independently governed.
How Is the Polkadot Network Secured?
Polkadot’s mass interoperability through a set of common validators helps to secure its multiple blockchains and allows them to scale their transactions by spreading their data across many parachains.
Nominators, validators, collators and fishermen all fulfil various duties to help secure and maintain the network and eradicate bad behavior.
The network has a highly sophisticated user-driven governance system that also helps to secure it. Communities can customize their blockchain’s governance on Polkadot based on their needs and evolving conditions.
The network is also highly flexible and adaptive, allowing the sharing of information and functionality between participants similar to apps on a smartphone. Polkadot can be automatically upgraded without the need for a fork in order to implement new features or remove bugs.
Custom blockchains are quick and easy to develop through the Substrate framework and can be connected to Polkadot’s network within minutes.
What Makes Polkadot Unique?
Polkadot is a sharded multichain network, meaning it can process many transactions on several chains in parallel (“parachains”). This parallel processing power improves scalability.
Polkadot’s native DOT token serves three clear purposes: providing network governance and operations, and creating parachains (parallel chains) by bonding.
The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain (explained further down).
This interoperability seeks to establish a fully decentralized and private web, controlled by its users, and simplify the creation of new applications, institutions and services.
What Is Polkadot (DOT)?
Polkadot is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other.
Transactions on the Bitcoin network can use various features that make them more complex, including timelock releases, multi-signature requirements, and others.
What is Taproot?
Taproot is a soft fork that improves Bitcoin’s scripts to increase privacy and improve upon other factors related to complex transactions.
While Bitcoin is the most popular cryptocurrency in the world, these issues still need to be addressed. Taproot aims to do just that.
This and more will be made possible by combining Taproot with a related upgrade called Schnorr signatures.Anyone familiar with the cryptocurrency community knows that privacy, scalability, and security are major concerns
Along with Schnorr signatures, Taproot is one of the most anticipated technological upgrades to Bitcoin since the introduction of SegWit.Taproot's goal is to change the way Bitcoin's scripts operate to improve privacy, scalability, and security.