Dfintiy chief said that Internet Computer would prove to be a boon for the blockchain industry which is currently dependent on centralized ecosystems like AWS.
The Web 3.0 ecosystem is built on the principles of decentralization, however, most of the aspects of the ecosystems are quite centralized. Be it metaverse servers, or nonfungible tokens (NFTs), even several blockchain ecosystems are entirely based on centralized servers like Amazon.
Stay in the know on crypto by frequently visiting Crypto News Today
Thus, these ecosystems face several vulnerabilities that come along with the centralization. However, Dominic Williams, founder of Dfinity, believes Internet Computer can change that for good.
In a conversation with Cointelegraph journalist Zhiyuan Sun during the Ethereum Community Conference (EthCC), Williams explained that with the use of smart contracts, Internet computers will remove any human backdoors making the next generation of Internet Computer (ICP) truly autonomous and decentralized.
CryptoCaster Quick Check:
ICP is a set of protocols that allow independent data centers around the world to band together and offer a decentralized alternative to the current centralized internet cloud providers.
Williams noted that Internet computers will be key to replacing centralized servers such Amazon Web Services (AWS) and said,
“We want people to replace that centralized systems with canister smart contracts on the internet computer. It’s like an evolution of Dao technology, so the whole thing is secured, secure, decentralised and autonomous. We want to see this centralised stuff Amazon Web Services replaced by the internet computer.”
Williams went onto discuss the possibilities that ICP can open for the blockchain world. He noted that small countries and projects won’t have to build wallets and simply can integrated internet computer with bitcoin network to start transactions. He explained that internet “computer smart contracts can create Bitcoin addresses, receive and send Bitcoin while complexities of UTX owes is hidden”
While discussing the aspects of internet computers and how it would differ from the traditional architecture, William noted that smart contracts have the potential to “eat software,” suggesting that the computer smart contracts have the potential to replace things like web servers, Kubernetes, databases, and many other traditional IT stack today.
DFINITY Foundation is a not-for-profit science and technology organization and a major contributor to the Internet Computer blockchain. The foundation recently announced the $5 million decentralized artificial intelligence (DeAI) grant to support projects leveraging AI on ICP.
Read More at COINTELEGRAPH
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt
