Background : This article is a video speech given by Dominic Williams, the founder and chief scientist of the DFINITY Foundation, at the 2020 World Blockchain Conference in Wuhan. The following is the text.
Hi everyone, I am Dominic Williams, the founder and chief scientist of the DFINITY Foundation. Thank you very much for the World Blockchain Conference for inviting me to speak, and thank you for watching my speech. I am very happy to be here.
Today, we are at the forefront of the Web 3 revolution, which brings unprecedented opportunities for developers, companies, entrepreneurs and investors.
And I will explain in this speech a major Layer 1 blockchain project, that is, how Internet computers realize these opportunities.
What is an Internet computer?
The functions of the Internet are expanding, and the world is about to change. So far, the Internet is only a global network, and Internet computers have expanded this function. Therefore, the Internet is also an open computing platform, allowing you to directly build applications on this network. This is a fundamental change. Will change everything.
The non-profit organization DFINITY used one of the most powerful R&D teams in the science and technology industry to lead the initial development of this technology and received an endowment of more than $1 billion. Other non-profit organizations, such as the Internet Computer Association, have also joined the competition to coordinate and connect the ecosystem.
Internet computer is the third innovation of blockchain, a blockchain with seamless and unlimited capacity. Internet computers are created by the ICP protocol, which runs on IP and weaves together the computing power of special machines running in independent data centers around the world.
Internet computers carry “WebAssembly canisters”, which is an advanced evolution of smart contracts. Canisters are a secure code unit that packs WebAssembly bytecode and the storage page that runs the bytecode.
The coolest thing is that Internet computers can host as many canisters as possible without any restrictions. You can directly build super large-scale systems and services on this public Internet. Canisters are unstoppable and cannot be tampered with. Just as the Internet was born to withstand nuclear attacks, so are Internet computers.
In addition, there is no need for a firewall, because this platform is completely tamper-proof. Canisters can provide users with a user experience directly from the Internet computer without any intermediary. Users do not need tokens to interact with systems and services.
This is possible because canisters are pre-stored in “cycles” to provide fuel for their calculations. This is essentially a reverse gas model, which eliminates the need for users to use tokens when interacting with hosting systems and services.
Cycles After completing an economic process, the ICP protocol will reward the data center with ICP governance tokens. These tokens can be sold to canister operators, who can use the protocol to convert the governance tokens into cycles and then destroy them.
Internet computers can better build websites, enterprise-level systems, open ultra-large-scale Internet services, pan-industry platforms, and DeFi. The new system does not need to rely on traditional IT architecture, such as private cloud services, servers, or database systems. Future developers only need to write abstract logic into cyberspace to take advantage of revolutionary new features.
In 10 years, the public cyberspace will host a considerable part of human back-end software and data on the blockchain network, and developers and users will use it for free.
Perhaps the most important opportunity for entrepreneurs and investors is to build “open Internet services.” Open Internet services are part of the Internet structure and use autonomous codes. They are controlled by a transparent, open, and tokenized governance system. Open source for running services. As long as you are involved in public Internet services, you can sell governance tokens to raise funds, either directly to investors or in a fully automated way, using Internet computer mechanisms.
Today, 99% of the world’s talents are outside of Silicon Valley and it is almost impossible to obtain venture capital. Token financing will unleash the potential of talents around the world.
Internet computer application examples
Open Internet services can provide an open alternative to large-scale technologies with special advantages. For example, Google Pictures can sync photos to the hard drive, but if you get sick, you can’t do it. Everything will be locked, your pictures will disappear, and your credit card may expire.
On the Internet computer, you can make an “Open Photos”. With DeFi, users only need to complete one deposit without making multiple payments. Such services can also provide other advantages. Because this platform is tamper-proof, users can rest assured that hackers cannot see their photos. You must know that just a few weeks ago, white hat hackers discovered that they could see everything on iCloud.
At the same time, another huge advantage of open Internet services is that they can share functions and data with other services. Through APIs that cannot be cancelled or reduced in performance, services can be built on top of each other without mutual trust. Therefore, a truly programmable network with significant network effects is provided.
This means that Open Photos users will benefit from the ever-expanding variety of third-party image filters and new ways to use their photos.
Let’s talk about Uber again. You can make an “Open Rides”, and early passengers and drivers can get governance tokens as rewards. Lower cost means that drivers can get higher income. Open Rides can also enter multiple markets where the existing taxi monopoly has launched legal attacks on Uber. But you cannot launch a legal attack on the Internet architecture. In the traditional sense, the Internet does not belong to anyone. The opportunities are endless.
But more importantly, Internet computers make the above advanced services easier to do. Imagine how good it would be to build a very large-scale Internet service with only 1,000 lines of code.
CanCan is an example of the Internet computer app we made, which is constantly expanding and will be released in the new year. It is similar to Douyin, playing short videos of users and using tokens as incentives. Tokenization can be achieved because open Internet services are autonomous, just like blockchain.
In CanCan, users can give 10 “super likes” every 24 hours. When they see some videos that they think will be popular, they can give them super praise. When a video goes viral, CanCan will look at the users who gave super likes in order. The first user who gives a super praise can get a lot of bonus points.
What’s even cooler is that there will be “drop days” on a regular basis. On these days, users can exchange reward points for CanCan governance tokens, or exchange reward points for prizes, which are provided by sponsors. Sponsors can use bonus points to pay for advertising.
What’s even better is that users can reward video producers with bonus points, which is both a thank you and an encouragement to encourage them to produce more videos.
With this type of function, we can suggest entrepreneurs to shift their focus and embrace this open Internet wave. Venture funds have allocated billions of dollars to invest in open Internet and cryptocurrency projects.
Of course, tokenized open Internet services can raise funds directly from the decentralized Internet, from anywhere. Therefore, if you are an entrepreneur outside of Silicon Valley, this is your opportunity.
Visit SDK.dfinity.org, you can try the software development kit, and build applications on Internet computers more conveniently. It is a historic opportunity to build applications and create influence on the open Internet.
December will be the time when Internet computers finally come out, which is part of the public Internet according to the Mercury milestone.
Thanks again everyone! Hope you can join us soon.
The content of this article is organized by Babbitt.
Source link: www.8btc.com
