From 9d2aa1f2d56969598f1d79dee4398eed2ce7eb28 Mon Sep 17 00:00:00 2001
From: alexander-schlosser
- ICP uses advanced science and technology to host smart - contract software (network-resident blockchain code) that is - millions of times more efficient – enabling it to replace - traditional IT. + ICP uses advanced science and technology to make smart contracts (a new kind of tamperproof and unstoppable network-resident software that blockchains can host) millions of times more efficient – enabling it to be used as an alternative to software running on traditional IT.
- ICP smart contracts process HTTP, and users interact with them - directly via web experiences they create. Reverse-gas and - secure session technology allows them to function as backend - code, unleashing blockchain in a public cloud role, delivering - end-to-end decentralization and security. The Internet - Computer makes the 'onchain is the new online' paradigm real. + ICP smart contracts process HTTP, and interact with users directly via web experiences they create. Because they pay for their own computation (using a "reverse-gas" model), they can stay in the background in the mode of backend code. This is key to allowing advanced blockchain to play the role of a public serverless cloud, delivering end-to-end decentralization and security. The Internet Computer is the ultimate expression of the "onchain is the new online" paradigm.
- ICP can interface with other smart contract blockchains and - traditional Web 2 internet resources via HTTP requests and - signing capabilities. For example, Chain-key Bitcoin (ckBTC), - a token backed 1:1 by BTC held entirely on the ICP blockchain, - is possible because ICP smart contracts can sign transactions. - Additionally, the{" "} - - exchange rate canister - {" "} - sends and receives HTTP requests to fetch data from major - cryptocurrency exchanges. + ICP can directly interoperate with other smart contract blockchains and traditional Web2 internet resources via HTTP requests and special signing capabilities. For example, chain-key Bitcoin (ckBTC), a token backed 1:1 by BTC held entirely on the ICP blockchain, works because ICP smart contracts can sign transactions on the Bitcoin blockchain without having to hold traditional private keys, which could be stolen. Meanwhile, DeFi smart contracts have access to data from major cryptocurrency exchanges, which is securely retrieved from Web2 exchanges (through consensus), without the use of trusted intermediaries such as traditional oracles.
- Developers can create truly onchain apps on the Internet - Computer, and place them under the full control of - decentralized governance in an advancement of the open source - paradigm. Moreover, any programming language that can be - compiled to WebAssembly can be used, including Rust, - TypeScript, Python and Motoko, a revolutionary DSL that - leverages the full power of a new 'orthogonal persistence' - paradigm where data lives inside programming abstractions such - as variables and data types. + Developers build within a serverless environment, using any programming language that can compile to Wasm (WebAssembly) byte code. Popular languages include Rust, Motoko and Python. Apps are built using "actor" software units that run in parallel. These run within their own persistent memory pages, creating a system of "orthogonal persistence," where data persists automatically inside developers' abstractions, essentially making logic and data one. ICP provides a modern, next-generation programming environment like none other, which is also internet native.
- Smart contracts serve web assets{" "} + Smart contracts serve web{" "}Users can interact with smart contracts through a standard