host:
The following is the full text of the speech:
host:The following guest speaker, I believe everyone is looking forward to it - Dominic Williams, founder and chief scientist of Dfinity. He also failed to be present due to special reasons, and will share with you through online access.
Next, welcome Dominic to bring you a speech "Internet Computer: Towards a Blockchain Big Bang". welcome.
Dominic Williams：good morning everyone!
It is a great honor to speak at the 7th Global Blockchain Summit in Shanghai again. This year, a lot of progress has been made in Internet computers, and thousands of applications are being deployed on Internet computers.
For those of you familiar with the Internet Computer Project, you should know that our mission is to build world-class computers.
I'm Dominic, the founder and chief scientist of the Dfinity Foundation. We have invited many cryptography experts and cryptography engineers to join the Dfinity Foundation around the world.
All of these people are helping us build the Internet computer, and there are several research centers around the world.
The Dfinity Foundation is a non-profit organization whose goal is to help developers, enterprises, individuals and governments better integrate into the blockchain network.
Regarding the uniqueness of the blockchain, the network can be re-established through smart contracts. As I just mentioned, in fact, the Internet computer was only created in January this year, but in the past few months, it has made rapid progress.
It can be seen that the number of blocks has reached 69 million, the number of nodes has reached 294, and the storage capacity of smart contracts is also increasing. There are more than 11,490 smart contracts running on Internet computers. (Audio, the digital translation of this paragraph is inconsistent with the display on the PPT, please confirm)
Before talking about Internet computers, let’s take a look at the challenges facing the blockchain today:
Challenge: The current blockchain architecture is too complicated. Think about how Ethereum’s Dapp works. If you want to operate on the Ethereum blockchain, you need to insert plug-ins on the web page, and you need to implement Ethereum transfer. If you want to interact effectively with web pages, you need to download plug-ins from the Internet.
At the same time, you need to purchase Ethereum from a digital currency exchange. When you interact with Dapp, you can interact page by page. If you need real action on the blockchain, you need transactions. In other words, the calculation of smart contracts on the blockchain needs to be paid, and all processes are very complicated.
For users, there needs to be some cryptocurrency entering the blockchain network. Users need to configure transactions to pay for their development behavior on the blockchain.
Such an architecture faces many difficulties. Users need to believe that no one on Google will maliciously tamper with the code. If this difficulty can be solved, it can solve the problem of trust.
But in fact, users do not know that their behavior with the webpage is trustworthy, so users must believe that the webpage has not been attacked or tampered with. On the current blockchain network, there are still some dangerous behaviors. This is also the challenge we are currently facing when creating distributed applications on the blockchain.
Internet computers are based on ICP (Internet Computer Protocol). ICP protocol uses a very new encryption algorithm, so it can make Internet computers realize the functions of world computers. Through the Internet computer blockchain, all software can be stored, including distributed applications, DeFi, Web3 games, etc.
Another very, very interesting point is that Internet computers operate on autonomous physical networks, and there is no cloud computing architecture in such an architecture.
In Internet computers, it is decentralized in many ways. First of all, all decentralized applications and smart contracts on its container Canister are decentralized. In addition, there is no main network, only a blockchain with subnets.
It is believed that more than 1 billion open applications and smart contracts will be deployed on Internet computers in ten years, and it is also believed that there will be millions of node computers on Internet computers in the next ten years.
Canister is what we call a "container". It is a container that can store smart contracts. All smart contracts are called software on Canister, which enables Internet computers to run many smart contracts at the same time. In this case, the capacity can be quickly expanded, and more information exchange can be realized at the same time.
The Internet Computer is the only computer in the world that can remove the limitations of smart contracts. On Internet computers, it is relatively simple for developers to create programs. They only need to deploy smart contracts on Internet computers easily, and can also provide real-time very interesting web content with end customers. For terminals For users, there is no need to hold tokens for calculation.
Users can also verify their identity through the Internet identity, and the device can be linked to the Internet computer through the Internet identity.
For example, Internet identity authentication can be realized through the FACE ID and fingerprint on the mobile phone, and Web3 applications can be easily invoked on Internet computers.
The Internet computer has a very fast speed, and it can update calls every two minutes. For query calls, the speed can reach 200 milliseconds. If compared with other blockchains, the advantages are also very obvious. Through the self-made network, it can be realized Fast block generation.
Another nice thing about Internet computers is transaction fees and storage costs. Because the Internet can expand capacity as needed, storage costs for smart contracts are reduced.
With the continuous increase of storage, the data on Web3 can also be directly on the chain, and the increase of computing cost and storage cost can be avoided through capacity expansion.
Due to the benefits of Internet computers, the ecology is also constantly developing, and it is also being partially applied to other fields.
For example, SociaIFi combines the functions of social media with the functions of DeFi, so that end users can become the owners of the application and also become members of the team.
Both SocialFi and GameFi will integrate with Metaverse. Now also seeing the metaverse boom, in the future all of this will be stored on internet computers.
Finally, I would like to share with you the progress of the ICP protocol. The ICP protocol is supported by the Chain Key encryption algorithm. The Chain Key encryption algorithm enables Internet computers to run efficiently and expand continuously. At the same time, it can also realize Internet computers and other blockchain networks. fusion.
Smart contracts on Internet computers can run on Ethereum and Bitcoin networks, and the other direction is also achievable, for example, Ethereum and Ethereum smart contracts can be deployed on Internet computer networks.
For Internet computers, the liquidity of more than 0.5 trillion U.S. dollars has been realized. I believe that with its further development, we will provide more liquidity. People may also ask that we will use the same technology as Ethereum. I want to tell you that once the link with Ethereum is realized, the Canister smart contract will realize the call to the Ethereum smart contract, and Ethereum can also realize the connection to the Internet. The invocation of computer smart contracts will help Ethereum solve some of the problems they are facing.
For example, the current DeFi applications can store more data through Internet computers, which is very exciting.
The above is all the content of my speech. I hope you can listen to the following agenda patiently. If you are interested in Internet computers, you can visit the relevant websites. Thank you!
