Internet Computer Protocol reached the milestone of processing one billion blocks in just one year of production.
The project’s lead developer, the Zürich -based nonprofit DFINITY Foundation, made the announcement earlier today.
“The Internet Computer is a unique blockchain powered by ‘chain key crypto’ that is changing the game. It runs at the speed of the web, with web efficiency, can measure capacity without limits and, uniquely, the intelligent contracts it hosts can serve as interactive web experiences directly to users, ”said Dominic Williams, Founder and Chief Scientist of the DFINITY Foundation.
“Internet Computer aims to host the world’s mass market web3 services 100 percent on-chain and then one day to completely replace traditional IT such as centralized cloud computing services with big technology . “
Many within blockchain tools see Internet Computer Protocol as a decentralized version of cloud platforms such as Amazon Web Services or Microsoft Azure.
“Naturally, a blockchain like this would have to process a lot of blocks. I’m very proud to have had a part in creating a blockchain that now processes a billion blocks in over a year since genesis,” added Williams.
“This milestone proves not only the potential of the Internet Computer but the efforts of those involved in the years of groundbreaking R&D that have made it possible”.
The efforts of Internet Computer Protocol developers can be seen in the GitHub commit to the project. Over the past three months, this has been the developer’s most active project:
Users of the applications and services built into the platform authenticate using ‘Internet Identity’ which allows them to cryptographically easily create a session using multiple authentication systems, including fingerprint sensors and Face ID. A ‘reverse gas’ model would allow users to interact with web3 services without tokens, as required by other blockchains.
“The purpose of the Internet Computer blockchain is to host most of people’s online systems and services, and it’s not surprising that a blockchain network designed to measure this intensity also processes multiple blocks,” he said. commented Jan Camenisch, Chief Technology. DFINITY Foundation Officer.
“What is exciting about Internet Computer is that it is not a cloud service. It enables you to build almost anything, completely on-chain, using advanced smart contract software, uninterrupted and uninterrupted, process value in the form of tokens, and can be autonomous.
“I am very proud of everyone in R&D who has helped make this dream come true. This technology is truly revolutionary. ”
To see what the Internet Computer Protocol has achieved by surpassing a billion blocks processed in a little over a year, here’s how long some other major blockchains have been in their current flow:
- Bitcoin is ~ 18,000 years old (Now in ~ 750,000 blocks)
- Ethereum is ~ 5,000 years old (Now in ~ 15 million blocks)
- Solana will last over 18 years (Now at ~ 120 million blocks)
A report from Electric Capital found that Internet Computer now has one of the fastest growing developer ecosystems on the web3. The project’s recent Supernova hackathon attracted 3,700 developers who submitted and more than 400 projects.
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