On October 10th, "Reconstructing the Internet, Sodium is Different - DFINITY Sodium China Online Conference (Press conference review Portal)" was officially held. This event is organized by Odaily and DFINITY, supported by the exclusive community of Nutshell Universe.
In the morning, Dominic Williams, founder and chief scientist of DFINITY, gave a keynote speech on "How Internet Computers Restructure the Traditional Internet" at the press conference.
Dominic introduced us to what is called an Internet computer through a speech. When comparing with the sister network Ethereum network, Dominic said that the Chain Key of the Internet computer is only 48 bytes. Today, if you want to verify transactions in the Ethereum blockchain, users must download the entire blockchain network. This The capacity will be as high as five terabytes by the end of this year, and the difference in data volume is obvious. With Internet computers, users only need 48 bytes to verify all information on the Internet network. That is, the network nervous system can increase the carrying capacity of the entire network, which is achieved by creating new blockchains, or subnets. By continuously creating new subnets, Internet computers can continue to expand to achieve unlimited carrying capacity.
When talking about DeFi, which has become popular recently, Dominic said that the high carrying capacity of Internet computers is conducive to the development of DeFi. We strongly encourage developers to develop DeFi on Internet computers, and we will also ensure that they can use it at a very low cost. cost to develop.
The following is the full text of Dominic's live speech, edited by Odaily:
Hello everyone, I'm Dominic Williams, the founder of DFINITY, and first, I'll take ten minutes to tell you what an Internet computer is.
We know that there are three major innovations in the blockchain space. The first is Bitcoin in 2009, the second is Ethereum in 2015, and the third is DFINITY in 2020. Internet computers are built based on an open protocol called ICP, which can carry an unlimited number of stable code units, collectively referred to as "WebAssembly jars", which can be simply understood as an advanced smart contract.
On Internet computers, you can create various things, including websites, enterprise systems, various platforms across industries, and various DeFi applications. We hope that everyone can abandon traditional IT and build on new Internet computers. With an Internet computer, you will no longer need existing Internet services such as clouds, servers, databases, firewalls, DNS, CDN, VPN, etc. Internet computers are run through a series of data centers, which run some special node machines. In the future, our data center is expected to run millions of node machines, and as of now, there are already hundreds of node machines around the world.
The internet computer works like PoW, but in an evolved way. During PoW mining, nodes can get token rewards, but what we do is very meaningful data operations, not useless hash operations.
ICP is an advanced blockchain protocol. There will be a main chain called "Network Nervous System (NNS)", which acts like a brain to carry the governance system.
Through Chain Key technology, the interaction between Dapps and blockchain can be realized. One of the great benefits of using this technique for network verification is that it can make previous old blocks unnecessary (unnecessary), thereby reducing the pressure on the network as a whole. The Chain Key of an Internet computer is only 48 bytes. Today, if you want to verify transactions in the Ethereum blockchain, users must download the entire blockchain network. This capacity will be as high as five trillion bytes by the end of this year. The difference in data volume is obvious. With Internet computers, users only need 48 bytes to verify all information on the Internet network. That is, the network nervous system can increase the carrying capacity of the entire network, which is achieved by creating new blockchains, or subnets. By continuously creating new subnets, Internet computers can continue to expand, thereby achieving unlimited carrying capacity.
Each additional blockchain (subnet) can host the above-mentioned "WebAssembly jars", which are high-level smart contracts. The Chain Key technology allows these subnets to interact directly. Through this method, Internet computers have unlimited expansion capabilities, not only the expansion of computing power, but also the expansion of data storage space.
The DFINITY Foundation has developed a series of developer tools, and we have also prepared a new computer programming language Motoko for developers, which developers can use to program. With Internet computers, people can not only create some Dapps on the blockchain, but also create some highly scalable Internet services. For example, we now have a short video application similar to Douyin on Internet computers Can Can.
Unlimited carrying capacity is also of great benefit to the development of DeFi. We strongly encourage developers to develop some DeFi-related businesses on our Internet computers, and we will also ensure that they can develop at a very low cost. The Internet computer greatly simplifies the development process. On the Internet computer, neither a database nor a file is required.
Regarding governance issues, users can participate in network governance by holding ICP tokens. The specific method is to lock ICP tokens in neurons to vote for network governance. At the same time, users can also configure their own neurons to automatically vote.
The development of DFINITY will involve a lot of research and development work, and we employ a large number of engineers and scientists in various research and development centers around the world. It is precisely because of the complexity of this project that we have gone through such a long journey. Today, we have reached the fourth milestone, the release of the "Sodium" test network, and we are about to move towards the release of the main network "Mercury" network.
Finally, more developers and entrepreneurs are welcome to try the developer kit (SDK) we provide, and make some development attempts on Internet computers.
Thank you all!
