- Bitcoin introduced decentralized, peer-to-peer electronic cash in 2009, marking the start of digital finance.
- Ethereum’s smart contracts enabled dApps, transforming blockchain from simple transactions to complex decentralized applications.
- Internet Computer (ICP) offers web-speed blockchain with infinite capacity, aiming to replace centralized internet infrastructure.
Bitcoin was introduced in 2009 and it solidified its position as digital gold in the digital world. Bitcoin, which was the first decentralized, peer-to-peer electronic cash system, changed the way people exchange value without relying on a central authority. The introduction signaled the start of a new age for digital currencies.
Ethereum’s Smart Contracts
After Bitcoin, Ethereum emerged with the revolutionary introduction of smart contracts. This greatly expanded the potential of blockchain technology beyond basic transactions.
The Ethereum platform enables developers to create and deploy decentralized apps. These apps run without disruption or influence from outside parties. This move cleared the path for decentralized financial systems and services that we use today.
Redefining Blockchain Technology
The Internet Computer is taking blockchain technology to the next level. ICP which has been created by the DFINITY Foundation is intended to replace the current centralized internet infrastructure with a decentralized alternative.
ICP’s groundbreaking web-speed, web-serving public blockchain operates at the speed of the internet and boasts infinite capacity. This makes it capable of running compute- and storage-heavy applications fully on-chain. The network is supported by 48 data centers worldwide, with thousands of nodes ensuring its security.
The core of ICP’s technological innovation lies in its Chain Key Technology. This includes systems such as consensus threshold relay, internet identity (IID), and the Network Nervous System (NNS), which together enable seamless operation and governance of the network.
Canisters, ICP’s version of smart contracts, can stream web information directly to users’ browsers without charging gas fees unless an action occurs, enhancing user experience and efficiency.
ICP’s strategic roadmap emphasizes the integration of blockchain and artificial intelligence technologies, focusing on computing platforms, privacy, decentralized AI, and chain fusion.
The Internet Computer is making significant strides in blockchain technology. Its innovative strategies and commitment to fostering community-driven innovation position ICP to play a pivotal role in the evolving blockchain ecosystem.
The post The Evolution of Blockchain: From Bitcoin to Internet Computer (ICP) appeared first on Crypto News Land.
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