Overview of the IC ecosystem and core differences

Introduction to the Internet Computer Protocol (ICP)

In this video, we provide an overview of the Internet Computer Protocol (ICP), highlighting its core distinctions from traditional blockchains. We'll examine the history and purpose of ICP, explore its key components, and understand how it seeks to transform the internet as we know it.

What Is the Internet Computer Protocol?

The Internet Computer Protocol (ICP), developed by the Dfinity Foundation, is a revolutionary blockchain platform designed to extend the capabilities of the public internet. Officially launched in 2021, after several years of intensive development, ICP aims to redefine how software and services are deployed and run on the internet.

Purpose and Vision of ICP

ICP is more than just a blockchain—it envisions a limitless internet environment:

• No centralized infrastructure: Developers can run software directly on the internet without relying on cloud providers like Amazon, Google, or Facebook.
• No concerns about hosting or scaling: Applications can scale automatically based on demand.
• Increased security and privacy: Applications are protected from censorship, hacking, and third-party interference.
• Permanent deployment: Software runs on a decentralized network of nodes, not traditional servers.

With ICP, developers can build and deploy applications that are not only fully decentralized, but also highly performant and scalable.

Key Components of the ICP Ecosystem

1. Data Centers

These are the physical locations that house the servers, storage devices, routers, and switches powering the ICP network. They provide the essential infrastructure for computing, storage, and connectivity.

2. Nodes and Subnets

• Nodes: Individual computers that run the ICP protocol and execute deployed software.
• Subnets: Groups of nodes that collaborate to provide specific services. They can communicate via message passing, scale dynamically, and validate transactions to ensure network reliability and security.

Note: Node providers host their nodes in data centers, but the data centers themselves typically don’t operate nodes. A single data center can host multiple node providers.

3. Network Nervous System (NNS)

The NNS is ICP’s decentralized governance system. It manages and upgrades the network through neurons, which can:

• Propose and vote on changes.
• Create new subnets.
• Allocate resources.
• Set fees and much more.

The NNS ensures the network remains adaptive, transparent, and continuously evolving.

4. Chain Key Technology

ICP relies on chain key cryptography to:

• Authenticate user requests and responses.
• Maintain the state of subnets.
• Enable secure inter-subnet communication.

This cryptographic suite ensures fully decentralized and secure operation across the network.

5. Canisters

Canisters are the core unit of computation on ICP. They are:

• Self-contained: Bundling code, data, and memory.
• Scalable and autonomous: Able to adjust resource usage and manage their lifecycle.
• Flexible: Capable of implementing web services, smart contracts, dApps, or UIs.

Canisters communicate via asynchronous messaging and run on WebAssembly, enabling efficient and high-performance execution.

The Vision in Action

All these components work together to support a decentralized and unstoppable computing environment. The Internet Computer aims to offer a platform where:

• Developers can deploy applications without intermediaries.
• Users can enjoy a web that is open, secure, and under their control.

Conclusion

Launched in May 2021 by the Dfinity Foundation, the Internet Computer is a groundbreaking blockchain network that aspires to be a scalable, secure, and open "World Computer". It hosts data and applications in smart contracts called canisters, running across a network of subnets. Each canister operates independently yet integrates seamlessly with the rest of the network, ensuring scalability, fault tolerance, and full decentralization.