What is ICP and why is changing web3

Hey, crypto friends!

As our digital world continues to expand and evolve, the need for a unified, secure, and user-focused Internet has become more than just a goal - it's a pressing necessity. That's where the Internet Computer (ICP) comes in, revolutionizing the Internet with its innovative architecture. It's paving the way for a smarter, more intuitive, and user-centric web, positioning itself as a fundamental pillar in this exciting journey of transformation. Let's explore together the groundbreaking possibilities that ICP offers!

What is ICP and why is changing web3

The Internet Computer (ICP) is an innovative protocol that revolutionizes Web3 services by enabling them to operate entirely on the blockchain. Web3 platforms can leverage the Internet Computer blockchain to address privacy issues encountered in traditional social networks. In decentralized social networks powered by the Internet Computer blockchain technology, users can securely log in using the Face ID on their phones or the fingerprint reader on their laptops.

Additionally, users can store files and share photos and videos as quickly as on the regular internet, and they can also send NFTs and cryptocurrencies like Bitcoin directly through chat conversations. The key feature of these platforms is that users are not just content consumers but also owners and active participants. Users can earn tokens that grant them the right to participate in platform decisions (known as governance tokens of a DAO) by doing things like inviting new users or assisting in content moderation.

How does ICP work?

The Internet Computer blockchain operates through "node machines," similar to routers, operated by various companies in independent data centers. They are connected by the Internet Computer Protocol (ICP), forming a blockchain that functions like a computer accessible to anyone.

ICP provides a decentralized alternative to traditional cloud services, allowing the use of websites and applications without relying on a single company. The network interconnects data centers worldwide, supporting applications ranging from social networks to Decentralized Finance (DeFi) platforms.

Developers pay fees based on computing usage, which are distributed among the network-maintaining data centers, to keep their websites or applications running. Additionally, the Internet Computer is continually adding new technologies to keep the network secure and protected.

Innovative Features of ICP

Smart Contracts as Web Pages: In ICP, Canister smart contracts can be accessed directly by browsers, functioning like conventional websites.
Real Scalability: ICP expands its capacity by regularly adding subnets. Currently, the network has 559 node machines, 119 independent node providers, and 37 subnet blockchains.
Internet Identity: This authentication system allows anonymous login to Web3 services with WebAuthn. It supports biometric authentication and ensures maximum security by keeping the cryptographic key on the user's device.
Enhanced Security: Canister software is tamper-proof, eliminating the need for firewalls and protecting against ransomware. They can be configured to be immutable or autonomously governed.
Simplicity and Sovereignty: ICP reduces the complexity and cost of developing and maintaining online systems, offering an alternative free from typical centralized IT restrictions.
Web3 and Open Internet Services (OIS): Canisters facilitate advanced tokenization and community governance, promoting a transparent and decentralized ecosystem.
Next-Generation AI: ICP is being developed to support AI compute units in Web3, enabling AI execution directly on the network.
Reverse Gas Model: In ICP, developers can fund contracts with 'cycles', eliminating the need for end users to possess tokens or wallets to interact with smart contracts.
Native Multi-Chain Functionality: Canisters act as bridges between major blockchains, such as Bitcoin and Ethereum, allowing asset transfers between chains without intermediaries.

ICP: More Than a Blockchain

ICP transcends the traditional notion of blockchain. Imagine millions of independent computers distributed worldwide, each secured by blockchain technology. ICP provides the tools and infrastructure necessary for the development of fast, secure, and scalable applications, all operating on a decentralized network. This eliminates the need for centralized servers, giving users greater control over their data and digital experiences.

Web 3.0 is the future of the Internet, and Internet Computer has taken a step forward to support the next version of the Internet. It is giving everyone the opportunity to create software on its network without dealing with a centralized authority.

Did you enjoy learning more about this revolutionary project? Klever Wallet is a web 3 Wallet ready for the user to manage ICP tokens. In the Klever Wallet app it is now possible to store, send, receive, swap, pay with tokens and buy ICP directly from the Wallet

Download Klever Wallet now and stay tuned to the official blogs to always stay up to date with what's happening in the crypto world.

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