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Computer programmer and entrepreneur Dominic Williams is the founder and chief scientist of the Dfinity Foundation, a major contributor to Internet Computer. The Internet Computer is a decentralized cloud blockchain that pursues the $1+ trillion cloud market - hosting apps, websites and enterprise systems, fully onchain, where they benefit from extraordinary security and resilience, can do multi-chain token processing, and can be administered in a decentralized way for safety. A core purpose is “self-writing cloud,” where AI creates apps for mass market users, which are sophisticated and secure, in response to instructions they provide over chat. The ICP token is burned powering onchain apps, and is a cryptocurrency used in network governance staking. It’s easy to try - use AI to create onchain apps (e.g. caffeine.ai) or use an online IDE to write serverless code yourself (e.g. icp.ninja).
Dfinity, which was founded in 2014 introduced an “alpha version” of Internet Computer in December 2020 and launched its first real version of the platform the following May 2021. The TGE (Token Generation Event) announced by DFINITY has successfully concluded on May 11, 2021.
Internet Computer employs a hybrid proof-of-stake consensus, combining permissioned and permissionless structures. To create decentralized applications on the Internet Computer blockchain, developers run their programs on so-called "canisters," which each have a storage capacity of 4 gigabytes. The canisters are smart contracts with more storage capacity. ICP's smart contracts have the ability to store data, perform computations, and serve web pages directly on the blockchain. This approach eliminates the reliance on third-party cloud or private hosting services. In essence, Internet Computer functions as a decentralized, blockchain-based internet, providing users with increased control over their data.
