Internet Computer and the limitation of blockchains

Normally with blockchains there’s a limited scope of what they can achieve. They are usually implemented with some front end web service provider like AWS, Azure, or google cloud. The point is, that these cloud providers host a large portion of the data and services that intersect with the blockchain.

Additionally, the implementation of smart contracts, across the board provides the back end for wallets, exchanges, swaps, and marketplaces. All dapps are basically revisions of the above, with little change.

We see this limitation on layer 1 across the board: Ethereum, Solana, Cardona, Avalanche, as just some examples.

But I digress. A problem I saw with a top 10 coin, for a few days was ICP, or Internet Computer. On may 9th, there was a massive upswing from around $30 to $750. Then immediately it crashed. People proclaimed rugpull, but I don’t think that’s the case. I think it was either VCs that pulled out, or it was a coordinated attack on the platform. The latter being more likely, since the price action was too great on the run up. Someone bought and sold immediately afterwards which tanked the price.

My point is, that this blockchain is not limited to exchanges, swaps, or marketplaces.

This blockchain is revolutionary and I don’t use that word lightly. It allows for websites front end and back, to be on the block chain. Those websites contain embedded low level system programming which can include entire computer systems or computer programs.

They have right now, chat apps, streaming apps like twitch, entire websites like a youtube clone, a Reddit clone, a go daddy name service clone, even an email client, and many more. You can see the full list of functioning apps on their showcase website (redacted due to group rules). Which all are working.

It’s important to realize that this is web 3. The websites aren’t websites. They’re embedded applications that run on a web browser. So it’s not built with html and css in other words. It’s low level system programming running VMs called canisters that run on the blockchain. These canisters are their blockchain and each canister contains 4GB of system memory in them. You can host many canisters on one application, so it’s limitless.

Seems too good to be true? Seems like the Manhattan project of the blockchain? I agree.

This is so much more than defi, which was the buzz word of crypto. It’s decentralized internet, which runs completely independent of the current infrastructure. The price action does not represent the value and ability of the block chain and it won’t, until people realize what it has up its sleeve.

Very few of the people who’ve seen this have actually looked into it. It is a shame. I am definitely bullish on this, not because I think it will provide short term gain, which it probably won’t. But when people eventually realize what it can do, it will become a hybrid layer 1, layer 2 to ethereum and Bitcoin and be a top 3 coin. It is multi chain and allows you to bring assets from other chain into it.

Please look into this and watch where it’s going.