The First Real World Computer: The Internet Computer Blockchain - TOKEN2049 London 2022

I've come to talk about internet computer um I don't know how many of you familiar with the project uh it's the first true World computer um developed by very large r d operation uh send it in uh Switzerland and San Francisco so um you might be wondering about the title um if you photograph this Kyoko you can actually download this deck what's interesting about the um QR code is that it downloads a deck that's served by the blockchain itself so the internet computer um is the first blockchain where smart contracts can actually process web requests um and that's a game changer because I don't know how many of you are aware but generally speaking when you download you interact with anything web free it's coming off Amazon web services so there are various other pieces to this puzzle of course if you're creating a world computer one of them is how much does it cost to store something like this deck on the blockchain because it's all very well being able to serve HTTP from a blockchain but if you can't store the media on the blockchain or the data on the blockchain it's not going to get you very far so the differences are much much bigger than most people are aware of this deck can be stored on the internet computer for four cents a year really nothing at all on Solana it would cost you 800 a year on ethereum it would cost you half a million dollars a year truth is you couldn't even upload it to ethereum and couldn't do it so uh something else you may not be familiar with uh if anyone I don't know if anyone's ever been to dashboard.internet computer but the blockchain's currently doing around about half a billion transactions a day it's more than 10 times more than any other blockchain in existence so the purpose of this system is to by applying super Advanced chanky cryptography um to enable what we call blockchain Singularity which is a end game where the majority of the world's systems and services actually run from the blockchain itself so um you know there's a movement um one of the biggest growing Grassroots communities in blockchain and they're in the aim is decentralized infinity and that's where of course the name of my organization uh the Divinity Foundation comes from one of the original crypto projects Divinity originally was um back into the 2015 working on what it how it would be ethereum 2.0 went its own way um did a lot of work I did an Ico in February 2017 and uh took till May 21 to actually launch the network it's actually the largest r d operation in blockchain has been for a long time we are the largest team of uh top cryptographers in the world of any organization at all um and a lot of very famous photographers computer scientists and and engineers in the organization Okay so since most people here are interested in web 3 what is a well computer blockchain fix for web three what does ICP do for web3 so here's the central problem that blockchain faces today when you hear somebody say that a web 3 service is built on a blockchain it's kind of like misleading advertising it's not really built on the blockchain at all it's built on Amazon web services and 99 of the data or lives on lives on Amazon web services and the service just keeps some nfts and some tokens on the blockchain it's not really on the blockchain at all and of course the problem is you know hackers Regulators sensors vested interests they all target that centralized piece where 99 of web 3 lives so our mission is to put the world on chain and we do that we pursue that by developing the internet computer um essentially it's a network of these things called node machines um that are connected by something called internet computer protocol which produces the the world's only truly Limitless scalable blockchain um it's powered by Moon math some of the most advanced cryptography in the world certainly the most uh Advanced cryptography in the crypto industry and it has these incredible superpowers so for example um if you build on the internet computer your smart contrast can process HTTP requests which means that they can securely serve interactive web experiences directly into the into the web browsers of end users um another important game changer for um web3 is that when you build on the internet computer app it's fully on chain right and as we know that's not what happens anywhere else when somebody when you hear about other ecosystems and you hear the word built on blockchain x what that really means is that it's built on Amazon web services typically or some other cloud and you know just a few tokens and nfts are kept on the blockchain so with the internet computer you can build a social network on the blockchain you can run something like Facebook from the blockchain there are Services running today on the internet computer with thousands and thousands of users and there's no Cloud involved there's no centralized Tech there's no servers um now there's a very very important uh consequence of this if you actually build entirely on the blockchain you can put your service under the control of a dow and that's just simply not possible on any other platform in existence today because a dow is built with small contracts and a dow cannot reach out of the blockchain and configure stuff running on Amazon web services which of course the developer can switch off on get hacked or anything like that so the reason this is important is web 3 is all about ownership and the vision that you know we pursue is that well you can have something like Facebook running on the blockchain under the control of a dow where the governor's tokens are largely owned by users so users actually gain ownership of these Services they depend on and and use every day but the only way you can do this is if you make it possible to build the entire thing the entire web through service whether it's metaverse social media gaming whatever it is the entire thing has to be built entirely on the blockchain otherwise you can't put it under the control of it down all right so something else maybe getting a Botanical but um there's a technology called chain key transactions that uh enables smart contracts on the internet computer to create um signed transactions and other blockchains it's just literally coming into production now in running for some time just waiting to be sort of signed off by the governance system so for example you can create native Bitcoin D5 you can create smart contracts that process Bitcoin create Bitcoin addresses send and receive Bitcoin do the same for uh crypto assets on eth and uh there's no Bridge involved just pure cryptography no trust no centralization no bridge that can get hacked which is a big deal don't forget like you know Bridges have been hacked for almost two billion dollars this year um so you know today uh you won't hear much about it for a bunch of reasons but there are thousands and thousands of sort of dreamers building on the internet computer all kinds of things um in every every field you can imagine so another aspect of the internet computer which is um very novel which you may not have heard of is that the entire uh blockchain the entire network runs under the control of a decentralized governance system a dow that's integrated into the protocols called the network nervous system and is the permissionless Dao and the network itself doesn't Fork can't Fork and it's not upgraded by a central company like most blockchains today have a company behind them a Solana labs ihk and avalabs whatever it is and that centralized party um coordinates the community and validators upgrading um the node software the internet computer doesn't work like that it's fully decentralized so it runs under the control of a permissionless governance system called the network nervous system and people submit proposals to the network nervous system it adopts and rejects proposals in the adoptive proposals get executed automatically and these proposals can upgrade node machines for example so rather than forking to upgrade the network people submit proposals to the network nervous system which is an open governance system if it adopts them and executes them and for example a construct those proposals can structure the network they can upgrade the protocol by upgrading the software on the no machines but it's entirely automatic there's no centralized party involved um another aspect of the internet computer you may not be aware of is that it runs on um a sovereign network of Hardware the network model is something called proof of useful work which is very different to proof of stake so obviously with any kind of proof of work network uh the the people participating in the network have their own Hardware they own the hardware and then install it and in this case the network mediates participation by ensuring that the node machines are performing their role and Performing only useful computations which is one of the ways that the efficiency of the network is driven as far as it is [Music] um very different to Cloud validators running in the cloud all right it's green obviously and you know actually the internet computer not only is it designed to host the world's services and systems um I mean it's always a magnitude more efficient than other blockchains it's also designed eventually to reduce the CO2 emissions of traditional I.T um so let's just quickly review efficiency by looking at the cost of smart contract data um this these stats were taken on the 20 29th of September changed a bit now obviously in the markets um okay so if you know on the left is a box representing the cost of storing a gigabyte on ethereum and on the right is the Box representing the cost of storing a gigabyte on Solana and we can see that Solana is 650 times more efficient than ethereum on ethereum it costs you 80 million dollars to store a gigabyte on Solana just short of 120 000 all right so let's look at uh Solana versus um internet computer so the difference actually is um almost one to twenty four thousand and I'll actually let you know that that uh internet computer box is roughly like 50 times bigger than it than it should be and we had to make the the difference look less extreme visually because otherwise nobody could see the internet computer box the differences between blockchain blockchains derived from uh Advanced cryptography are absolutely colossal and unimaginably large for most people um you often hear salado's the most efficient blockchain of course it's not as you can see here this blockchains 24 000 times more efficient it's also processing more than 10 times more transactions a day currently so what that would mean for example is if you wanted to put a phone photo or on the blockchain um it would cost you 1.6 cents on the internet computer 400 on Solana but it's not just about files it's about structured data the kind of stuff you find in a you know user profile or news feed um open chat's a great example it's actually a chat system running on the internet computer where you can send chat messages and it's my contracts processed in real time and store them including in fact um you know media media messages um you know there's not too much noise about the internet computer in the mainstream crypto press people are very worried about it but um you know there are people thousands and thousands of developers and and they're building you know uh new equivalence to webto services but in new ways and they're going to decentralize them with Dows 3 000 plus GitHub repos um there's an assertion that software's eating the world and we said the cruelty of that is small contracts from these software um today centralized it infrastructure runs the world it also runs blockchain right like all the web free runs on the cloud outside of the internet computer ecosystem and most blockchains also run in the cloud obviously the internet computed doesn't work that way web3 is built on the blockchain and the internet computer runs on Sovereign Hardware but uh it's worth thinking for a moment about what the opportunity is presented um by the scale of centralized I.

T that can be replaced by World computer World computer blockchain um you know we spend five trillion dollars a year on it worldwide um half half a trillion dollars a year on cloud services and just to sort of drill down a bit this year people will spend 172 billion dollars in cyber security um on a blockchain obviously the advantage is you don't need a firewall right you can get rid of that if you want to know more get into the technicalities all this um go to internetcomputer.org there's a lot of information there ah so you know um help us drive awareness there are a bunch of reasons um people don't talk too much about the internet computer uh you know we guess awareness now is a less than 0.1 percent uh imagine where we're going when people find out about these capabilities um so help us drive drive awareness and join us in our mission all right that's it thank you [Applause]