- Live from: May 2021
Internet Computer is the world’s first blockchain-based decentralized network that is capable of providing a limitless environment for smart contracts and dApps to run at web speed with unrestricted capacity. It uses a new technology stack that is tamper proof, fast and scalable for billions of users globally. Internet Computer aims to change the way people interact with web services and reverse Big Tech’s monopolization of the internet. The Internet Computer team is aiming to disintermediate large tech companies allowing software to run on the internet in a distributed manner making it truly decentralised, as opposed to using servers controlled by large companies.
- Uses chain key technology, in contrast to PoW or PoS consensus mechanisms. This feature results in the entire Internet Computer platform requiring only one public key to verify transactions, as opposed to thousands or millions.
- The native currency may become deflationary in time if ICP becomes widely adopted.
- Instant and collateral-free Flash Loans.
- Internet Computer may provide solutions to critical problems currently facing the Internet such as security, scalability and the monopolisation of the Big Tech Companies.
- Backed by a very credible list of large backers to support their development such as Andreessen Horowitz and Polychain Capital
- Adoption is still relatively small
- The platform is relatively untested and significant development might be required before it can deliver on team promises.