UNDERSTANDING INTERNET COMPUTER PROTOCOL

What is the Internet Computer Protocol?

The Network Nervous System (NNS), Neurons, and ICP Utility Tokens

How Does the Internet Computer Compare With Ethereum?

  • While Ethereum provides the technology for decentralized applications (DApps) and uses ERC-20 token Ether as its digital asset representation, the Internet Computer seeks to replace the traditional internet by assigning special identification to data centres and passing on governance to the end-users.
  • Ethereum uses smart contracts to create self-executing agreements and actions, while The Internet Computer uses software canisters; quite similar to smart contracts, but have been constructed to have more flexibility and higher scalability.
  • While Ethereum currently has relatively high transaction fees and transaction confirmation speed is slow because of network congestion, the Internet Computer’s enormous throughput guarantees it can consummate transactions in 5–10 seconds, with unlimited scalability because of its threshold relays.
  • Ethereum’s specially developed programming language is Solidity, while Internet Computer’s programming language is Motoko.
  • Despite these differences, the roll-out of Ethereum2.0 means that these comparisons would change remarkably.

Why is the Internet Computer project attractive? Some of the selling points of the Internet Computer are:

How to buy ICP tokens

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