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

um hello everyone uh thanks if you came here to listen and today I'm going to talk about the internet computer blockchain uh which is the world's first world computer blockchain um here's some some quick stats and I wonder how many of you are aware of this the internet computer uh mainly went Live May last year and since then it's processed over 1 billion blocks and currently it's running at um more than 5 000 transactions a second so it's processing almost half a billion transactions a day which really sets it apart from other blockchains in the space and you can check out how it's doing on the dashboard dashboard.internetcomputer.org so the mission um of uh this blockchain is essentially to enable every single online system and service to eventually be built reimagined and entirely on blockchain um and ultimately for blockchain to replace traditional I.T in a kind of blockchain Singularity this is kind of accurate you're trying to do this hold on how's that it's a bit better right all right so uh the internet computer is primarily developed right now by the Divinity Foundation uh it's actually um big game for some time it was founded in uh 2016. uh research actually began in 2015.

it's actually blockchain's largest r d operation um almost 300 strong and uh some interesting factoids we've got the biggest team of cryptographers and all of tack um and uh we're the largest employer of for example X Google research staff in Switzerland where Google keeps its uh European research headquarters is this second biggest Base outside Mountain View um it's a pretty academic organization um you know team members have published more than 1500 research papers earned on the way to a hundred thousand uh citations and we employ a lot of very famous cryptographers and computer scientists and you can go to the divinity.org website and check out the tip so uh this is this is what we're about um in in the internet computer model in the in in the world computer model blockchain is the platform blockchain is the platform and the idea is that you abandon traditional I.T you don't need cloud services you can just build entirely on blockchain so here in this um little diagram you can see a small contracts running on the blockchain they're composed together to create web 3 services and these smart contracts are securely serving uh web experiences by processing HTTP requests so that's completely unique um within blockchain today with respect to web 3 what's very important is uh communities can own web3 services when they run entirely on the blockchain so in this diagram you can see that some small contracts are composed to Credit Service and some small contracts are composed to create a dow a decentralized autonomous organization and it's actually that Dao that is updating and configuring the service and end users will interact both with the service or services and with the dowels that run them they'll become part owners of the services they use things like social media social networks and part of the team that runs them you know advocating for the service introducing new users and helping with tasks like content moderation so you may wonder is this world computer vision realistic and and the good news is um yes it is it's working today anyone can build on it thousands of developers already are and it's been made possible by Advanced cryptography this is the basic architecture uh the internet computer runs on special node machines in much the way in much the same way the internet runs on routing devices there's no machines are owned by independent no providers they connect over the Internet uh using a single internet computer protocol to create the internet computer which uh hosts smart contracts canister smart contracts it's Cypher space and this is this is available today and and um that's that's what people are doing right now you can build mass Market uh web free services that run entirely from the blockchain without any need for traditional I.T like cloud services and run them under the control of dials um one of the ways uh the internet computer achieves this is through incredible efficiency gains and I think you know we're all being impacted by climate change in different ways um and it's very important that blockchain is kind to the Earth and the internet computer is highly efficient but it achieves that efficiency without uh sacrificing any of the kind of blockchain properties that you uh we'd care about like security and liveness and it's actually designed in the end to replace traditional I.T and reduce um the CO2 emitted by traditional I.

T one way of telling the efficiency story is in terms of storage in this case memory so this is something a lot of people aren't aware of it's an important point today this this these numbers are updated last night if you want to store a gigabyte of data on ethereum it'll cost you about 79 million dollars that's an eye-opener right if you take a photograph of the screen you can go and check out the links yourself to store one gigabyte of data on ethereum it'll cost you 79 million dollars on Solano you pay a rent it costs you about three and a half thousand sold so let's try and visualize that okay so this is comparing ethereum version two with Solana the Box on the left is the cost of storage storing a gigabyte of data on the blockchain on on on ethereum and the Box on the right is the relative cost of storing it on Solana so um I mentioned that it costs 79 million on ethereum it costs the current prices sold about 118 000 per gigabyte per year on on Solana okay so now let's um put Solana on the internet computer side by side to give you a sense of what this means so now on the left you have the relative cost of storing a gigabyte data on Solana on the right and if you can see it there's a little dot next to the magnifying glass that's the relative cost of storing a gigabyte of data on the internet computer on the internet computer it costs you about five five dollars a year it's a constant cost to store a gigabyte of data in the form of persistent memory pages and smart contracts so that's an improvement of almost 24 000 times a current prices so uh to put this into real world terms let's think about the cost of storing a simple phone photo on the blockchain phone photo is about 3.3 megabytes to store a phone photo on the internet computer it costs about 1.6 cents 1.6 sets to store a phone photo on Solana it's actually technically almost impossible but if you could do it it would cost you about 400 290 dollars so clearly it's not possible to build social media services on Solana which is the next most efficient blockchain and that's why today when you hear about people talking and you hear people talking about Services web 3 Services really they mean services that are built on Amazon web services that just maintain some tokens on the blockchain um the internet computer is very different it allows people to build even Mass Market social media Services entirely using smart contracts without any need for traditional Tech so um I can hear you asking right now um a lot of people um say claim cloud computing is compatible with web3 for example a claim that it's fine to build on Amazon web services and just keep a few tokens on the blockchain and you know when you hear someone today saying built an avalanche built on Solana built in ethereum built on near protocol what they really mean is built on Amazon web services and you know this service just helps you maintain some tokens or nfts on the blockchain um the short answer is is it's but no it's not this isn't the way to go uh if you run your service on Amazon web services um it's not there's no autonomy you can't give users ownership you can't run it under the control of a dow you as a developer control that service you're legally responsible for the functionality and liable for it and you can switch it off at any time and of course it can be hacked and that's why we're seeing you know uh pack snapping measured in in the billions of dollars annually so if you've got time uh you know uh check out this thing called open chat open chat is a messaging service that is built on the internet computer blockchain whereas smart contracts are able they're so efficient and fast they're able to process individual chat messages not just text messages but also media messages like photographs and videos um obviously this represents an absolutely enormous Advance over um technical Advance over many of the architectures and use today so there are thousands of developers already building on the internet computer um this number was a couple of months old but when I last checked there were almost 3 000 GitHub repos for projects that are being built on the internet computer so the ecosystem seeing uh pretty rapid growth and really the internet computer and the world computer vision generally is part of a movement to realize web3 web3 means different things to different people to me and to people working at the dfinity foundation web3 um means the reinvention of online systems and services on the blockchain it means um replacing traditional I.T with blockchain and it kind of blockchain Singularity and running every service and system and service imaginable entirely from the blockchain without any traditional I.

T and providing users with ultimate ownership of control over these Services through Dows and that's only possible if you run entirely from the blockchain big picture um where's blockchain really going what does this really mean what does it mean when blockchain becomes the stack it becomes the platform that absolutely everything is is built on what is blockchain singularity um how messages you know use a world computer build on the internet computer not big Tech and ICP can replace or improve many things traditional I.T the IT industry is worth five trillion dollars a year um 2022 the world's going to spend half half a trillion dollars on cloud computing we would argue that people should stop building I didn't secure Cloud Computing Services and build on the internet computer blockchain similarly cyber security uh cost the world about 172 billion dollars this year but think about this when you big Bitcoin isn't protected by a firewall you don't need a firewall to protect Bitcoins right it's a decentralized network um it's tamper-proof you don't need firewalls to protect smart contracts on ethereum and when you use Smart contracts to build uh Mass Market social media services for example um on the internet computer blockchain you also don't need a firewall um longer term you're going to see Enterprise systems being built on the internet computer because security is a big deal in uh Computing generally these days and blockchain provides a solution you just build from Smart contracts you don't need a firewall anymore um another part of this big picture is that soft I mean Andreessen Horowitz famous for saying software is eating the world um I would say that smart contracts will eat software um so you know blockchain learning to code on blockchains like internet computers a key future skill um imagine what's coming with awareness and adoption um awareness about the internet computer isn't that great a lot of people in blockchain don't like to talk about the internet computer it's the kind of elephant in the room right here's this blockchain that's processing billions of blocks already processed billions of blocks in this class yeah currently processing uh half a billion transactions a day I got the biggest team of cryptography attack and the biggest r d operation in blockchain going since 2015 a lot of people don't like to talk about it too much but you know uh the developer Community is growing rapidly and the things they're building are absolutely um incredible so um you know be a Pioneer join us um and help us move towards adoption if you're interested uh go to internetcomputer.org and you can find out much more about the internet computer and how it works um look at some of the projects that have already been built on it um and I think you know you'll find it a big eye opener all right that's it for me thanks [Applause]