What is Internet Computer?
The Internet Computer (TIC) is a Layer-1 protocol developed by the non-profit DFINITY Foundation with the goal to create a blockchain network that evolves the public internet to securely host backend software with smart contract integration on a distributed censor-resistant network, while innovating the dimensions of block time, confirmation time, and scalability of distributed blockchain storage and computing power, combining computing resources provided by data centers around the world. ICP token can be converted into cycles used to power websites and application on the network. The Internet Computer protocol is built on the Network Nervous System (NNS) blockchain developed to control the network by allocating computing power to various nodes on the TIC. Nodes on TIC represent sub-networks each including a P2P layer, a consensus layer, a message routing layer, and execution environment. Consensus among nodes is consensus-mechanism agnostic and divided into a notary layer, blockchain layer, random beacon layer, and identity layer. Instead of a Proof of Work or Proof of Stake mechanism, the Internet Computer rewards independent data centers for the time that they correctly operate standardized computer nodes. Neurons on TIC allow users to stake ICP tokens to earn voting power for community governance proposals.
