ICP is a Future Internet

BASIC CONCEPT OF INTERNET COMPUTER (ICP)

The Internet Computer block chain incorporates a radical rethink of blockchain design, powered by innovations in cryptography. It provides the first “World Computer” blockchain that can be used to build almost any online system or service, including demanding web social media, without need for traditional IT such as cloud computing services. As such, it can enable full end-to-end decentralization.

MY OWN VIEWS ON INTERNET COMPUTER (ICP)

The ICP is an evolution of the crypto era. It builds the ecosystem where NFT, website development, interaction with other crypto communities like BTC & ETH, security of other cryptos. It provides speedy transactions, not only for itself but also for other blockchains, Web 3.0, token creations on ICP blockchain, Dex, Dao & much more …!!!

A WEB3 ENABLER

WEB 3.0

Web3 has the potential to fundamentally update this old formula. A True World Computer can be used to build anything in a totally decentralized way, including demanding services like social networks. Whereas before block chains could only be used to build web3 services in conjunction with traditional IT, such as cloud computing services, a World Computer block chain makes it possible to build services that run entirely on block chain.

THE IMPORTANCE OF ICP IN WEB3.0

The Internet Computer provides “canister” smart contract functionality. These canisters can do many new things, like serving interactive web experiences directly to users by processing HTTP requests, creating transactions that directly run on other blockchains using “Chain Key TX”, scaling without limit, and running with an efficiency comparable to traditional IT. This greatly reduces the harmful CO2 carbon emissions caused by blockchain and, one day, the tech ecosystem overall.

NON-FUNGIBLE TOKEN CREATIONS

WHAT IS NFT?

NFTs are digital files. They can be a JPEG of a piece of art, real estate, or a video. Turning files into NFTs helps to secure them via blockchain to make buying, selling, and trading more efficient, reducing fraud considerably.

IMPORTANCE OF ICP IN NFT DEVELOPMENT

Internet computer (ICP) helps NFT developers make an easy buy giving platform like Enterdrop , canister web & and much more. It also helps them by reducing fees when buying & selling NFTs. It costs just 0.0001 ICP and helps them by giving social sites like Dscvr & District.

WEBSITE DEVELOPMENT

WHAT IS WEBSITE DEVELOPMENT?

Web development refers in general to the tasks associated with developing websites for hosting via intranet or internet. The web development process includes web design, web content development, client-side/server-side scripting and network security configuration, among other tasks.

IMPORTANCE OF ICP IN WEBSITE DEVELOPMENT

Internet computer (ICP) helps website developers by giving them platforms where professionals & experienced people and teams are ready to help. It also provides job opportunities to those people who are best in website development using ICP blockchain. ICP also helps website developers by providing low-cost fees of circles which are used in the development of websites on ICP. Again District & Dscvr are the platforms where ICP web developers are can promote their projects & websites to gain massive engagement.

INTERACTION WITH OTHER CRYPTOS

WHAT IS INTERACTION BETWEEN CRYPTO?

It refers the process where transactions take place on more than one blockchain. It also refers the process where one blockchain is the main, which provides security or helps another blockchain or cryptocurrency to compress the transaction on their blockchain. This helps to increase the scalability of transactions.

IMPORTANT OF ICP INTERACTION WITH OTHERE CRYPTOS

Since we all know ICP is the most scalable, fast and fully secure crypto blockchain it will provide security and scalability to others cryptos by way of interaction with them, including Bitcoin and Ethereum.

TOKEN CREATION ON ICP

WHAT IS TOKEN CREATION ON BLOCK CHAIN?

Tokens are created through an initial coin offering, which represents the crypto currency version of an initial public offering (IPO). Tokens are created by crypto currency companies that want to raise money. Investors who are interested in the company can purchase these tokens.

IMPORTANCE OF ICP ON TOKEN CREATION

ICP is one of those crypto currencies which helps other organizations, project creators and token creators by giving them a platform where they create tokens using ICP blockchain in order to raise capital for their specific visions. ICP makes this process very easy; it costs almost nothing, and it provides a cheap DEX fee system which help traders to buy or sell ICP tokens in no time.

NNSDAO (NDP) TOKEN

NDP is a boundaryless autonomous organization built on the Internet Computer. Its governance token of NnsDAO organization means it’s a utility token which helps the community and its organization to make decisions. It’s an awesome token with the supply of 100,000,000. Due to small supply, it will be a deflationary token and make easily 10x or 100x in bull markets!

DEX ON ICP BLOCK CHAIN

WHAT IS DEX?

A decentralized exchange (DEX) is a peer-to-peer platform where users can trade crypto currencies directly with other users without relying on any intermediaries. Users trade directly from their own wallet without the requirement of KYC.

IMPORTANCE OF ICP BLOCK CHAIN ON DEX

ICP is one of those crypto currencies with lot of DEX support like ICPSwap, Sonic, Infinity Swap, and much more. It allows people to buy ICP tokens without any restrictions, and you can trade on these swap platforms 24/7 without any issue. The cost of trading is so low on these platforms that you don’t even need to think twice about the transaction, and ICP itself has a transfer fee of only 0.0001 ICP. You can also transfer them to another address in no time and at a very low cost.

LAST BUT NOT LEAST… DECENTRALIZATION AUTONOMOUS ORGINIAZATION (DAO)

WHAT IS DAO?

A decentralized autonomous organization (DAO) is an emerging form of legal structure that has no central governing body and whose members share a common goal to act in the best interest of the entity. Popularized through crypto currency enthusiasts and blockchain technology, DAOs are used to make decisions in a bottom-up management approach.

IMPORTANCE OF DAO IN ICP BLOCK CHAIN

We all know that crypto currency is built on the narrative that our money should be fully decentralized. No government or centralized organization controls our money. A decentralized autonomous organization (DAO) helps people to achieve that narrative. If ICP becomes a DAO it will help to boost its ecosystem as well as its prices. However, as we see everywhere there are good people as well as bad people, and because of this we need semi-DAO instead of DAO in the ICP ecosystem. People can take advantage of decentralization like rug pulls, with 50% voting attack and much more. We need an organization structure in ICP which maintains the safety of ICP as well as the community but can’t control the ICP blockchain or tokens, so the community doesn’t feel that their freedom of decentralization has been compromised.

Written By: PrWnce Ammar