Internet Computer (ICP)

Web Applications

Internet Computer lets developers build and host secure, unstoppable web apps that run directly on the blockchain, without relying on traditional servers.

Decentralized Finance (DeFi)

It supports DeFi platforms where users can trade, lend, and borrow assets in a decentralized way.

Social Media and Gaming

Developers create decentralized social media platforms and games that run at web speed and scale easily.

Enterprise IT Systems

Businesses can use Internet Computer to build scalable, decentralized IT systems that improve efficiency and reduce costs.

Network Computation and Fuel

ICP tokens are used to pay for computation on the network. These tokens generate "cycles," which fuel the operation of apps and services on the platform.

Governance and DAOs

The network supports decentralized autonomous organizations (DAOs) that manage and update services transparently through a public governance system called the Service Nervous System (SNS).

Pros

• Innovative Technology: Internet Computer uses advanced cryptography and Chain Key Technology, enabling fast, scalable, and secure decentralized applications.
• Decentralized Internet: It aims to create a web controlled by the community instead of big companies, allowing developers to build and host apps without central servers.
• Scalability: The network can add new subnets to increase capacity as more nodes join, unlike some blockchains where more nodes only add security.
• Governance and Rewards: The native token ICP is used for network governance, computation, and rewarding participants, supporting a self-governing ecosystem.
• High Performance: Supports smart contracts called canisters that combine code and data, enabling complex applications and tamper-proof execution.

Cons

• Young Project: As a relatively new blockchain, it is still growing and evolving, which may affect adoption and stability.
• Complexity: The technology and governance system can be hard to understand for beginners.
• Limited Exchange Options: Fewer decentralized exchanges support ICP compared to more popular cryptocurrencies.
• Community Control Takes Time: The Network Nervous System (NNS) gradually transfers control to the community, so full decentralization is a work in progress.
• Market Volatility: Like most cryptocurrencies, ICP’s price can be volatile and influenced by market trends.

Founders of Internet Computer

Internet Computer was developed by the DFINITY Foundation, which was informally founded in 2015 by Dominic Williams. The foundation was formally incorporated in October 2016 in Zug, Switzerland. Dominic Williams is the main founder behind Internet Computer, with early contributions and support from other team members and co-founders involved in the DFINITY project.

Investors in Internet Computer

• Venture Capital Firms: Early investors include Andreessen Horowitz (a16z), Polychain Capital, and SV Angel, which are well-known venture capital firms supporting blockchain projects.
• Institutional Investors: Various crypto-focused investment funds and institutional investors have participated in funding rounds and token sales.
• Individual Investors: Many retail investors bought Internet Computer tokens during its initial coin offering (ICO) and through exchanges afterward.
• Foundation Support: The DFINITY Foundation, which developed Internet Computer, also plays a key role in funding and supporting the project’s growth.

These groups together have helped finance and grow Internet Computer since its launch.

Halal Status of Internet Computer

• Yes, Internet Computer is considered halal.
• This is because its staking method follows Shariah principles.
• The project’s goals and ecosystem align with Islamic finance rules, making it compliant for Muslim investors.