Internet Computer (ICP) is a set of protocols that allow independent data centers worldwide to band together. ICP's basic idea is to create a new kind of decentralized Internet and global computing system — where independent data centers all over the world could join together to create an alternative to the cloud services (from companies like Amazon Web Services and Google Cloud) that power most of the current Internet. Its innovative design and vision position the Internet Computer as a scalable and efficient platform for building almost any online system or service, including demanding web applications, without the need for traditional IT infrastructure. The Internet Computer has also launched its own token, the ICP token, which is used for governance (holders can vote on the future of the network), to reward network participants for good behavior, and to pay fees for making transactions. Originally called DFINITY, ICP's global and distributed network of data centers can run most of the applications that are accessible via traditional Internet standards, such as DNS (the domain name system you use via web browsers and smartphones).

The Internet Computer works by running canister smart contracts on a network of node machines. These node machines are connected using the Internet Computer Protocol (ICP), which enables them to communicate and coordinate their actions. As explained in the MIT Technology Review's profile of the Internet Computer: "Instead of running on a dedicated server in Google Cloud, for example, the software would have no fixed physical address, moving between servers owned by independent data centers around the world." You can think of ICP as a way of converting crypto into processing power — the network will establish a fee based on the amount of computing power required by a developer's project. The website will run on the public Internet as long as the fee is paid. Finally, the Internet Computer network is controlled and managed by a master subnet, which runs an advanced permissionless Decentralized Autonomous Organization (DAO) called the Network Nervous System (NNS). This system instructs the node machines how to structure the network and verifies that the instructions they have received are genuine.

Popular applications on the web are often closed-source, proprietary, and hosted on a handful of data centers owned by big tech firms. If one critical data center fails, huge swathes of the web can also shut down with it. Another major concern with the web (particularly for privacy advocates) is that centralized, corporate web service providers have the ability to censor or de-platform applications. This is why the Internet Computer attempts to offer a fundamental alternative to the current solution, so that developers can build, host, and serve applications in a more decentralized way — allowing websites to be deployed directly onto the public Internet. Internet Computer can be used to build almost any online system or service, including demanding web applications, without the need for traditional and centralized IT infrastructure, making it possible to create fully decentralized online systems and services that are tamperproof, unstoppable, and that can trustlessly interact with the outside world. In theory, any kind of application can be created and run on the Internet Computer — from social networks similar to LinkedIn and TikTok to software similar to all the familiar applications you know today to new kinds of applications not yet conceived. Because it operates via open standards, Internet Computer tends to reduce the conflicts of interest that can arise when a major cloud-computing provider hosts products that compete with its own services.

The Internet Computer was developed by the DFINITY Foundation, a non-profit organization based in Zürich, Switzerland. The foundation was established in October 2016 with the goal of developing the Internet Computer blockchain. The project's founder, Dominic Williams, first used the name DFINITY in early 2015 to refer to his theoretical crypto work, which he hoped would make a World Computer possible. In February 2017, the DFINITY Foundation ran an early public Initial Coin Offering (ICO) to raise funds and scale out its open-source project. This was then supplemented by private fundraising rounds in 2018. By mid-2022, DFINITY employed almost 300 people, primarily in R&D. Researchers worldwide contribute to the foundations' work — including cryptographers who hold around 100,000 academic citations and 200 patents.

The ICP token can be purchased and traded via exchanges like Coinbase.

Internet Computer Protocol (ICP) strives to bring changes to the internet by creating a decentralized network that enables the creation and deployment of smart contracts and decentralized applications (dApps) directly on the blockchain. ICP is designed with the intention of facilitating interaction with the internet. It uses a unique consensus mechanism called Threshold Relay, which seeks to achieve fast, finality, and consensus. ICP's technology, known as Chain Key Technology, includes systems like the Network Nervous System (NNS) and Internet Identity (IID), which aim to facilitate the process of acquiring tokens with an internet identity network and communication through the Network Nervous System. ICP's smart contracts, known as "Canisters", are hosted on the Internet Computer and can stream web information directly to users in their browsers. This approach is intended to allow users to interact with blockchain services without having to own tokens. ICP's vision includes considerations of cost efficiency and scalability, fostering a multi-chain environment, reducing dependency on centralized bridges between different blockchains. This approach is intended to facilitate interaction of smart contracts across multiple chains, with the aim of contributing to the development of decentralized technology.

"Canisters" on the Internet Computer are similar to containers in traditional computing, encapsulating both the program and its state. They are computational units utilized within the Internet Computer blockchain, executing software in a distributed and replicated manner. When source code is written for a decentralized application (dapp) intended to run on the Internet Computer, the source code is compiled into a WebAssembly module. This module, containing the program, is then deployed on the Internet Computer blockchain and executed inside a canister. Canisters are intended to support development in various programming languages, including Motoko, C, Rust, JavaScript/TypeScript, AssemblyScript, and Python. Upon deployment, interaction with the canister is possible via frontend clients, browsers being one example. Canisters also include a distinctive characteristic of "query" and "update" methods. Query calls enable users to interact with the canister's state without modifying it, while update calls enable users to modify the state of the canister, with such modifications being retained.

The Internet Computer's decentralized computing model seeks to alter the way we approach digital services by shifting away from the traditional cloud services model. Traditional cloud services typically involve a centralized system where data and applications are stored on servers owned and managed by a single entity. This model often requires significant capital expenditure for hardware and software, as well as ongoing maintenance and support expenses. In contrast, the Internet Computer operates on a decentralized model, where data and applications are distributed across a network of independent data centers. This model is designed to offer a different level of security, as sensitive data is not concentrated in one location, reducing the risk of data breaches. The Internet Computer's model is designed to offer scalability, providing organizations with a different approach to adjusting their computing resources as their needs change, without the need to purchase and manage additional hardware.

Developers have the potential to build decentralized applications (DApps) on the Internet Computer. DApps are software programs that operate on a blockchain or peer-to-peer network of computers, rather than on a single computer, meaning they are not under the control of a single authority. DApps are often built on various blockchain platforms, but they also have the potential to be developed on the Internet Computer. The process of building DApps involves creating smart contracts, which are self-executing contracts with the terms of the agreement directly written into lines of code. These smart contracts form the backbone of the DApp, handling the business logic and data storage. Developers have the potential to create a variety of DApps, including those for various sectors. However, it should be noted that building DApps requires a deep understanding of blockchain technology and smart contracts, as well as proficiency in specific programming languages used for smart contract development.

The Internet Computer (IC) blockchain addresses scalability challenges by employing specific cryptographic methods and an architectural design that differs from many traditional blockchains. In contrast to many traditional blockchains, which may have limitations in transaction throughput due to their consensus mechanisms, the Internet Computer employs a consensus mechanism known as "Proof-of-Useful-Work (PoUW)". This mechanism aims to be efficient in terms of speed and energy consumption and strives to enhance security and network uptime. The Internet Computer also leverages its Chain Key technology to finalize transactions that modify smart contract states within 1-2 seconds. The Internet Computer operates on a network of nodes across multiple subnets. As more nodes are integrated over time, the transactions per second (TPS) of each subnet multiplies, leading to a potential increase in overall TPS. The Internet Computer's design allows for potential increases in TPS as more nodes are integrated. This approach to scalability is designed with the needs of developers, businesses, and organizations in mind. The Internet Computer aims to provide a network that balances speed, security, scalability, and decentralization.

The ICP token is the native cryptocurrency of the Internet Computer network and fulfills multiple important functions within its ecosystem. As a governance token, ICP can be staked with the intention of participating in the network's decision-making processes, influencing the future development of the protocol. It also functions as a mechanism, providing non-financial incentives to participating data centers for their contributions and adherence to the network's standards. ICP tokens are utilized for compensating computational and storage resources used by applications on the network, aiming for a balanced ecosystem. Furthermore, ICP tokens may be utilized in decentralization swaps with the intention of becoming a participant in an SNS DAO, and when engaging with various smart contract services developed on the Internet Computer.

The Internet Identity (II) framework is an authentication system that aims to offer a method of accessing Web 3.0 experiences with a focus on privacy. Unlike traditional Web 2.0 systems that rely on usernames and passwords, II uses public standards such as WebAuthn and FIDO, combined with chain key crypto technology. This allows users to create sessions with a focus on privacy using personal computing devices or external hardware wallets. The II framework aims to improve user privacy by preventing tracking across different applications and services. It seeks to achieve this by using different cryptographic pseudonyms for each service a user interacts with. This means that even in Web3 environments where users can be publicly tracked by their public key, II aims to prevent this from happening. The framework aims to combine the convenience of Web 2.0 with a focus on privacy and security characteristic of Web 3.0.

The "Internet Nervous System" (INS) is a concept introduced by Internet Computer, a decentralized platform for building and running smart contracts and decentralized applications (dapps). The INS is a decentralized governance model that allows token holders to participate in the decision-making process and govern the network. This model intends to foster transparency, fairness, and community-driven development. It's like the brain of the network, making decisions that guide the development and operation of the platform. By giving token holders a say in these decisions, the INS seeks to facilitate a more democratic and equitable network. This approach to governance is a departure from traditional centralized systems, where decision-making power is often concentrated in the hands of a few.

The Internet Computer seeks to ensure security and protect against potential vulnerabilities through a combination of technical and management controls. These controls are designed to implement a security policy that addresses the range of circumstances under which security needs must be met. The security policy is a concise statement of information values, protection responsibilities, and organizational commitment. The technical measures include the use of firewalls, encryption tools, and intrusion prevention systems to protect against unauthorized access and data breaches. Management controls, on the other hand, involve administrative, procedural, and technical mechanisms to implement the security policy. These may include regular security awareness training for employees, maintaining up-to-date security programs, and implementing disaster recovery and business continuity plans. The Internet Computer seeks to update these controls as needed to address evolving security risks.

The Internet Computer blockchain supports a variety of projects and decentralized applications (DApps) across a range of sectors. Some of these projects include DSCVR, a decentralized Web3 platform; OpenChat, a decentralized real-time messaging service; ICPSwap, a decentralized exchange (DEX); and Bioniq, an Ordinals marketplace. Other projects that are being developed include Funded, a Web3 crowdfunding platform; Trax, a music platform; and Gold DAO, a project related to Gold Token (GLDT) and a USD-pegged stablecoin (USDG). Gaming applications such as Dragginz, a virtual pets game, and platforms such as Dmail, a Web3 replacement for e-mail, are being developed on the Internet Computer. These projects are utilizing the Internet Computer's infrastructure to explore potential improvements in various sectors, from social media and finance to gaming and music.