Internet Computer (ICP) is a project spearheaded by Dominic Williams, who founded and first announced it in October 2016 under the auspices of the DFINITY Foundation. The project seeks to create a decentralized platform capable of hosting applications, smart contracts, and internet services at scale, aiming to address the current limitations of the internet, including poor system security, monopolization by tech giants, and user data abuse. The development of ICP began earnestly in 2019 with the release of Copper, introducing essential development tools such as the software development kit (SDK) and Motoko, a programming language tailored for smart contracts.
ICP offers several innovative technologies, including Chain Key cryptography, which enhances security and scalability by enabling every computer on the network to independently verify data authenticity. The project leverages the Network Nervous System (NNS) for decentralized governance and Internet Identity (IID) for anonymous authentication, underscoring its commitment to a secure, user-centric internet. ICP tokens serve multiple functions within the ecosystem, including network governance participation, rewarding network contributors, and facilitating transaction fees.
Since its launch, ICP has attracted significant interest and investment, evidenced by rapid market capitalization growth and endorsement from several prominent backers, including Andreessen-Horowitz and Polychain Capital. The platform's ambitious 20-year roadmap outlines a vision where the Internet Computer becomes a foundational element of the global technology landscape, surpassing the current proprietary internet ecosystem and hosting the majority of society's critical infrastructure.
The DFINITY Foundation envisions the Internet Computer as a blockchain network spread across the globe, managed by independent data centers, to democratize software development and give back control of the internet to its users. This vision extends beyond creating an alternative to the legacy IT stack; it aims to empower developers to build tamper-proof enterprise systems and open internet services, fostering innovation and economic growth free from the control of tech monopolies.
