Launched in May 2021, Internet Computer aspires to become a “world computer” capable of hosting decentralized applications (dapps). This ambition is backed by its unique Chain Key Cryptography, which promises to provide stable computing costs, thus overcoming the cost fluctuations and scalability issues plaguing traditional blockchains.

The operation of Internet Computer is underpinned by several vital components. One of these is the Network Nervous System (NNS), an open and decentralized management system that not only incorporates community proposals but also continually expands the blockchain network by adding new nodes. This system helps to maintain minimal data storage costs to facilitate on-chain dapp operation. Furthermore, it enhances user experience by allowing smart contracts on the platform to directly serve users’ HTTP requests. The platform also ensures user anonymity and adopts a reverse gas model where the developers, rather than users, bear the costs.

In terms of infrastructure, Internet Computer mirrors the decentralized nature of Bitcoin and is not dependent on centralized cloud nodes. The native token of this ecosystem, ICP, performs crucial roles in governance. Staking ICP tokens generates “Neurons” that enable holders to vote on and shape proposals, thus earning rewards in the process.

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