Dominic Williams: Internet computer blockchain

On September 20, the 8th Blockchain Global Summit hosted by Wanxiang Blockchain Laboratory was held in Shanghai. Dominic Williams, founder and chief scientist of Dfinity Foundation, delivered a speech on the theme of "The First Real World Computer - Internet Computer Blockchain"& nbsp; Dominic Williams said in his speech: "ICP smart contract can directly process bitcoin on the bitcoin ledger without any cross chain bridge, which means that you can create native bitcoin DeFi, which has a huge prospect. Considering the proportion of bitcoin in the whole network, using IC blockchain does not require cloud or traditional IT architecture. When you deliver on the IC and Web3, you only use your facial ID and fingerprint to create a session. If such interaction is sensitive You can use the LED Hardware Wallet or the UBK Hardware Wallet if you have high security requirements. In addition, only less than 1% of the blockchain community members can truly achieve their capabilities. "

The following is the full text of the speech:

Dominic Williams: Hello!

It's a great pleasure to meet you again at Shanghai 2022 Blockchain International Week. It's like an annual tradition for me. What I want to share with you today is the first real "world computer" Internet world computer blockchain, or IC for short.

At present, the Internet is in another magnificent stage of development. In the early 1990s, the Internet was just a network, and then the World Wide Web appeared. At first, the World Wide Web was just used to provide content from the server to the user's browser, which is what we call the Web1 era. The word that best describes the Web1 era is "read-only network".

By the end of 1990s, social media appeared, and users uploaded their own content to the server, so that these content can be consumed by other users. That is, we entered the era of Web2. The word that best describes the era of Web2 is "read-write network".

Now we enter the stage of Web3. Everything in Web3 is about Tokenization and providing users with direct rights to assets on the chain. At the same time, users can also control the Internet services they use. In this new stage of Web3, the most descriptive word is "ownership".

To make the vision of Web3 a reality, we need a real "world computer". In fact, inventing a real world computer is also my long-term work. I have been involved in the blockchain field for nearly ten years. For me, this journey began in 2014, when I was a member of the Ethereum community. For the first time in history, I realized that software, computing and data can be deployed on the blockchain. At that time, someone also put forward the concept of "world computer", thinking that human beings can share a large, single world computer, which inspired me deeply.

Therefore, I founded the DFINITY project in 2015 with the main purpose of providing feasible ideas of technology, which may make the "world computer" a reality. At the beginning, I created the DFINITY Foundation to apply these ideas to Ethereum, but eventually DFINITY became an independent project.

In May 2021, the Internet computer, that is, the IC blockchain main network, will be officially launched after years of research and development.

In our vision, the vision of Web3 is that blockchain is both a platform and a cloud. This means that what we will build is a service, and these services are completely running on the blockchain, using smart contracts, but we will use a new kind of smart contract, which is much more powerful than all the smart contracts we have seen before. The new smart contract can handle HTTP requests, but also can provide users with interactive Internet services, allowing users to use and access directly.

In other words, Web3 services do not require any traditional cloud or traditional IT architecture. Another key dimension of this new Web3 world is that the community will have these web services. Such ownership is achieved through decentralized autonomous organizations (DAO organizations). Some smart contracts have been used to create applications and services, while others are used to create DAO organizations that control applications and services. That is, DAO organizations control data according to the wishes of community members and developers. For the end user, it not only interacts with the application service itself, but also with the DAO organization that controls the service.

When you hear this, you may wonder whether such a vision will become a reality on the blockchain? I am very happy and proud to announce to you that, yes, using such advanced cryptography as Moonmuf has actually become a reality and has been verified in the production environment.

IC blockchain is completely different from all other blockchains at present. Its operation mode is unique and depends on a new kind of cryptography. IC blockchain relies on special equipment called "node machine" just as the Internet depends on routers. These node machines are interconnected through Internet computers (IC protocol), thus forming the IC blockchain on the upper layer, that is, a general-purpose blockchain. Canister smart contracts are deployed on one layer of the IC blockchain, and these smart contracts are used to build the service system, which covers everything, and can build social networks on the IC blockchain.

Of course, at present, through Moonmuf, all services have become reality on the IC blockchain, and there are thousands of different applications and services on the IC, that is, we are making the dream of Web3 come true, and controlling applications and services through the way of DAO organization.

Another good news/feature of IC blockchain is that its efficiency is several orders of magnitude higher than that of all blockchains that have existed before. It greatly reduces the carbon dioxide emissions related to blockchain. We believe that the efficiency of IC is much higher than that of traditional IT architecture. Therefore, if you want to reduce carbon emissions and build based on blockchain, you can choose IC blockchain. At the same time, IC also provides all blockchain related attributes, including security, guaranteed activity, guaranteed contract automatic operation, anti censorship, decentralization, and high programmability.

Next, I hope to show you what advantages IC blockchain has in terms of efficiency from a visual perspective.

(As shown in the figure) This slide compares the cost of data storage on Ethereum with that on Solana. The large box on the left represents the cost of 1GB of data on Ethereum. Of course, the cost is not fixed. But when I made this figure, 1GB of data was stored on Ethereum, which cost nearly 100 million dollars. The cost of storing 1GB of data on Solana is $500000, which means that the cost of storing 1GB of data on Solana is $500000.

Now let's compare Solana with IC. The grid on the left represents the cost of storing 1GB of data on Solana, which is 500000 dollars. On the right is a tiny three × The box of 3 pixels represents the cost of storing 1GB of data on the IC. On the one hand, the cost of storing 1GB data on Solana is US $500000, but on IC, the cost is about US $5, and on IC, the cost is fixed and does not fluctuate with the price change of ICP.

Further back to reality, let's see how much it costs to store a photo in a mobile phone on the blockchain for one year. On IC, the figure is 0.016 US dollars per year, while on Solana, the figure is nearly 1566 US dollars per year. In the example I just mentioned, the size of the phone photo I mentioned is about 3MB, which means that the cost of storing a phone photo on Solana is very high.

In addition, we should not forget that not only files but also structural data need to be stored on the blockchain. If you want to build a social network on the blockchain, you must store all the structural data of users to generate information flow. Now, all the audience listening to my speech are invited to see the data with our website in person. The specific website is on the screen. You can go to the website to view some amazing data.

For example, on September 5, I found that the GPS on the IC had reached 5500, that is, the number of transactions that can be processed per second reached 5500, some of which are status updates, and some are simple query transactions. This means that the daily transaction volume that IC can handle has reached nearly 500 million, which is the current transaction capacity that IC can handle.

However, sometimes when you see some blockchain media reports, their reports are not completely true. For example, the founder of Solana recently mentioned that Solana can handle more than 30 million transactions every day, and this number is higher than the sum of all other blockchain transactions, which is not true, because 30 million is still a world apart from 500 million. The founder of Solana also said that the reason why Solana chain may have various network failures is that the TPS is very high.

But let's not forget that IC blockchain has never experienced any serious network failure. Today, some people said that Web3 and the cloud are compatible. When you use Web3 services, they are deployed on the AWS cloud. AWS stores more than 99% of the data and executes more than 99% of the relevant calculations. Blockchain is only used to store some tokens. For example, store NFT.

Therefore, it is necessary for us to ask a question, does this represent the future of Web3? Is such infrastructure acceptable?

(As shown in the figure) This slide shows that 99% of DAPPs and services currently use the cloud architecture, including wallets that can be downloaded from the chrome store, such as MetaMask, and data and related services deployed on the cloud. Sometimes, blockchain nodes themselves are deployed on the cloud.

But we believe that this is a very bad phenomenon. Google can prohibit blockchain wallets. In the past, Little Fox Wallet has been prohibited by Google for many times, preventing people from accessing some Ethereum DAPPs. If Google's internal staff is malicious, they can also steal users' data. Undoubtedly, if Web3 services are also deployed on the cloud, they may also be attacked by hackers. Such attacks have been common before, and caused losses to user assets. Of course, it is also possible that the problem is only caused by the power failure of AWS itself.

Even the idea of deploying blockchain nodes on the cloud is not a good idea. For example, your Little Fox Wallet interacts with the Ethereum nodes deployed on AWS. If there is a power failure in AWS, the Little Fox Wallet will also go down, which has happened in the past. The biggest problem with cloud deployment is deploying DAO organizations on the blockchain, which is created by smart contracts. Smart contracts running on the blockchain cannot control and configure software deployed on the cloud. Therefore, communities cannot really own and control online services.

If you deploy the service on the AWS cloud, the people who control the service are developers, because they use credit cards to pay for AWS services, and they can access AWS accounts. This brings another problem. Developers control cloud accounts and provide Web3 services. On another level, they also need to be legally responsible for services. They may get involved in legal disputes due to various transfers.

A real world computer can solve these problems. With the launch of IC blockchain, you can build a real Web3 Internet.

Another uniqueness of IC blockchain or ICP smart contract is that it allows you to create transactions on other blockchains, but does not require any cross chain bridges. This is mainly due to Moonbeam's chain key cryptography as the underlying support of IC blockchain, which means that you can use IC blockchain as the orchestration layer of cross chain Web3, and at the same time, you can put data and computing on the IC blockchain, You do not need to use the cloud. You can deploy your DAPP and related user experience on the IC blockchain.

ICP smart contract can directly process bitcoin on the bitcoin ledger without any cross link bridge, which means that you can create native bitcoin DeFi with great prospects. Considering the proportion of bitcoin in the whole network. Therefore, using IC blockchain does not require cloud or traditional IT architecture.

IC smart contracts, called Canisters, are actually software executors, which means they can implement parallel execution, which means your DAPP can achieve scalability, and the blockchain itself can achieve scalability. These Canisters can implement various interesting functions, such as processing HTTP requests. Internally, IC smart contracts are a stack of persistent memory pages and bytecodes running on these memory pages. You can create bytecodes by compiling various programming languages.

The two most popular programming languages in IC are Motoko and Raft. If you have technical background, I recommend you to check Motoko. Motoko is developed by Andreas Rossberg's leadership team. Andreas Rossberg himself is one of the inventors of WebAssembly (Wasm). Therefore, Motoko inherits a series of advantages of WebAssembly on the one hand, and also has a series of original attributes of IC blockchain.

The IC blockchain also introduces the reverse gas fee model, which I think deserves everyone's attention. On all other blockchains in the world, users pay for every transaction and calculation, which is why you need plug-in wallets like Fox. Every time you want to interact with the blockchain, you need to pay from the user side. However, in IC, the smart contract uses the reverse gas fee model, which means that the smart contract pays for its own computing, rather than being paid by users.

You need to recharge the smart contract in advance, using cycles to recharge, just like charging your Tesla tram in advance. When the smart contract performs calculations or stores data, they will destroy these cycles until they are exhausted. You need to recharge the smart contract with cycles again. As smart contracts pay for the calculations they perform, we can truly pursue the vision proposed by Nakamoto and eliminate all intermediaries.

On Internet computers, users in IC have various options. For example, they can use Internet identity for authentication, which actually uses special hardware on the device, such as fingerprint sensors or mobile phone facial recognition. It allows you to use these devices as if you were using a password, and behind all this is that key documents are stored on special security hardened hardware, and these documents cannot be exported to the hardware. In other words, it can never be stolen by hackers, which means that it has taken another huge step in terms of usability.

When you deliver on the IC and Web3, you only use your facial ID and fingerprint to create a session. If such interaction is sensitive or requires very high security, you can use the LED hardware wallet or the UBK hardware wallet, which are all supported.

If you really want to understand the infinite possibilities brought about by the IC blockchain going online, you must check the OpenChat DAPP built by IC. DAPP is a message service that runs completely on the IC blockchain. Smart contracts can handle chat messages, media messages, such as pictures and videos. All messages are stored on the IC blockchain and stored on the chain.

Soon, Open Chat will also give control to the DAO of the community, and will also conduct decentralized sales. All the sales revenue will go to the DAO of the community, which is equivalent to social services and SocialFi. Because the chat account is also your wallet, you can transfer tokens by sending messages. You may wonder, how did all this come true? The answer is a lot of research and development.

It can be said that DFINITY Foundation has built the largest R&D team in the blockchain world. There are dozens of encryption experts who have also developed relevant capabilities, which enable us to really continuously expand the possibility boundary. I invite everyone to the website of DFINITY Foundation to see the outstanding talents of our team.

All kinds of current trends, including DeFi, Social Fi, GameFi and Metauniverse, can be built on IC. Frankly speaking, none of this can fully realize its potential without a real "world computer". If you are a developer or entrepreneur and you want to join thousands of developers and entrepreneurs who have built ICs, you are welcome to all those who have built ICs as part of a larger campaign, which aims to realize the dream of Web3, which means that we need to let users have control, make them the owners of services, and become members of the team. This campaign is crucial.

This slide shows that some services have been built on the IC to replace the corresponding services in the Web2 world.

In addition, it is also very important that the IC blockchain is designed to completely replace the traditional IT architecture. In the final analysis, we believe that even enterprise level systems will eventually be built on the IC blockchain, which will make the value of IC rapidly increase. This also represents a huge opportunity. It has been said that in 2022, it will spend $5 trillion on traditional IT, while the world will spend $482 billion on cloud computing and $172 billion on security.

When we think about developing on the IC blockchain, you don't need any firewall to protect the system. Through such examples, we can have a glimpse of what disruptive effects IC network will have in the next few years.

Today, for IC, only 1% of the blockchain community members can truly realize their capabilities. Therefore, we need to pass on this information to more people, and please help us pass on this information to more people.

As a part of Web3, it helps us improve our community awareness to 95%. Welcome to join us.

Thanks again!