The Good Tech Companies - How Internet Computer is Transforming Blockchain Technology

Episode Date: November 4, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/how-internet-computer-is-transforming-blockchain-technology. From tackling scalability challenges to transforming urban services, Troeltzsch offers unique insights into how ICP is not just reimagining blockchain. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #blockchain, #deark-news, #cryptocurrency, #web3, #announcements, #good-company, #icp-news, #icp-announcement, and more. This story was written by: @ishanpandey. Learn more about this writer by checking @ishanpandey's about page, and for more stories, please visit hackernoon.com. From tackling scalability challenges to transforming urban services, Troeltzsch offers unique insights into how ICP is not just reimagining blockchain technology, but potentially redefining the very fabric of our digital world.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. How Internet Computer is Transforming Blockchain Technology, by Ashan Pandey. As Web3 continues to reshape our digital landscape, Internet Computer stands at the forefront, promising to revolutionize everything from smart city infrastructure to decentralized finance. In this exclusive interview, we sit down with Fabian Trolch, a key figure behind Internet Computer, to delve into the protocol's groundbreaking technology, its real-world applications, and its vision for a truly decentralized Internet. From tackling scalability challenges to transforming urban services, Trolch offers unique insights into how ICP is not just

reimagining blockchain technology, but potentially redefining the very fabric of our digital world. Ashan Pandey. Hello Fabian, it's a pleasure to welcome you to our Behind the Startup series. Could you start by giving us an overview of ICP's vision and the unique challenges your project addresses in the Web3 space? Fabian Trolch. Thank you for having me, Ashan. I'm excited to share our vision at the Internet Computer. We're really aiming to revolutionize the way we think about the Internet and blockchain technology. At its core, Internet Computer is about extending the functionality of the Internet by creating a seamless, decentralized network. We envision a

world where software can be built, hosted, and accessed without relying on traditional data centers or cloud services. When it comes to the challenges we're tackling in the Web3 space, there are quite a few. Scalability is a big one. We've designed ICP to scale effortlessly, accommodating a vast number of users and applications. We're also deeply integrated with the internet itself, which allows for smooth interaction between blockchain applications and traditional web services. Efficiency is another key focus for us. We've developed a novel consensus mechanism called Threshold Relay, which achieves both security and efficiency without the energy-intensive mining that's common in other blockchains.

And of course, decentralization is at the heart of what we do. By leveraging a network of independent nodes, we're eliminating the risks of course, decentralization is at the heart of what we do. By leveraging a network of independent nodes, we're eliminating the risks of censorship, data manipulation, and single points of failure. Ashan Pandey. That's fascinating. What sets Internet Computer apart from other blockchain platforms and how do you envision it shaping the future of decentralized applications? Fabian Trolch. Great question, Ashan. There are several key features that really distinguish ICP in the blockchain landscape. One of our standout innovations is our canister smart contracts. These are essentially autonomous units that encapsulate our smart contracts, providing a secure and sandboxed environment

for executing code. But what really sets us apart is our performance and efficiency. We're talking about internet-scale performance here. ICP can handle up to 11,000 transactions per second, which is leagues ahead of most other blockchains. And when it comes to cost efficiency, we're proud to say that storing 1GB of data on ICP costs only about $5 per year, which is significantly less than other platforms. We've also focused on interoperability. ICP enables direct integration with other blockchains like Bitcoin and Ethereum without the need for bridges. This opens up a world of possibilities for developers and users alike. Looking to the future, we see ICP as a catalyst for more complex, scalable, end- user-friendly decentralized applications

across various sectors. From DeFi and decentralized identity solutions to supply chain management and content delivery networks, we believe ICP will be at the forefront of the next generation of Web3 services. Ashan Pandey. As demand for Web3 services grows, how does ICP ensure scalability and security for the decentralized applications built on its network? Fabian Trolch. That's a crucial question, Ashan, and it's something we've put a lot of thought into. Scalability and security are at the core of ICP's design. We've implemented several innovative approaches to address the SAA challenges. First, we use advanced techniques like sharding and subnets to support

internet-scale applications. Our threshold relay consensus mechanism ensures fast and fair block finalization without compromising security. What's really exciting is that ICP has no limitations on transactions per second, allowing us to accommodate growing demand seamlessly. Security-wise, our canister architecture plays a big role. By encapsulating smart contracts in secure, sandboxed environments, we enhance overall security. We also maintain a decentralized network of nodes, leveraging independent data centers worldwide to create a robust and secure infrastructure. As the demand for Web3 services continues to grow, these features allow us to scale efficiently while maintaining high levels of security and performance.

It's all about creating a platform that can grow and adapt to the needs of the future. Ashan Pandey, ICP utilizes the Motoko programming language, which is described as revolutionary and a new paradigm in writing machine-executable code. Can you explain what makes Motoko unique and how it enhances the development of decentralized applications on your platform? Fabian Trolch. Absolutely, Ashan. Motoko is indeed a game-changer in the world of blockchain development. It's a programming language we've specifically designed to complement the internet computer protocol and enhance the development of decentralized applications. What makes Matoko unique is its direct support for ICP's programming model. It's tailored to support the specific features and requirements of the Internet Computer, making it much easier for developers to create applications that fully leverage ICP's

capabilities. We've built it on an actor-based programming model, which aligns perfectly with our canister architecture. This model allows for efficient asynchronous communication between different parts of an application, enhancing scalability and concurrency. One of the coolest things about Matoko is its WebAssembly integration. It compiles directly to WebAssembly, ensuring high performance and portability across different platforms. We've also implemented what we call orthogonal persistence, which means developers don't need to explicitly manage data storage. The application behaves as if it's running continuously, which really simplifies state management. But what really sets Motoko apart are its blockchain-friendly features.

ITAB strikes away many complex blockchain-specific functions, making it easier for developers without extensive blockchain expertise to create decentralized applications. We've also included built-in safety features like default immutability for local variables and protection against numeric overflow, which enhances code safety and reduces common programming errors. All of these features come together to enhance the development of decentralized applications on Internet Computer in several ways. It simplifies development, improves concurrency, enhances security, and allows for seamless integration with Internet Computer's canister system. Perhaps most importantly, it lowers the barrier to entry, making it easier for a wider range of developers to create decentralized applications on ICP.

In essence, Motoko represents a new paradigm in writing machine-executable codeby combining modern programming language features with blockchain-specific optimizations, all tailored to the unique architecture of the Internet Computer Protocol. Ashan Pandey, Stax's Fleet Management for Winter Service Company, X-Routen, ESON interesting proof of concept. What challenges did you face in integrating decentralized technology into fleet management systems? Fabian Trolch. The collaboration between STAICS and internet computer Forksrouten was indeed an exciting project, Ashan. It really showcased the potential of decentralized technology in real-world applications.

However, as with any pioneering effort, we faced several challenges in integrating this technology into fleet management systems. One of our primary hurdles was IoT integration. We had to find a way to seamlessly connect IoT sensors to the blockchain to capture real-time data from winter service vehicles. This required careful design and a lot of problem solving. Scalability was another big challenge. We needed to manage large volumes of data from multiple vehicles while ensuring real-time performance on the internet computer blockchain. It's one thing to handle this kind of data in a centralized system, but doing it in a decentralized environment added an extra layer of complexity. Data security was, of course, a top priority. We had to strike a delicate balance between transparency,

which is inherent to blockchain technology, and protecting sensitive operational data. This involved implementing robust encryption and access controls. Interoperability was another key issue we had to address. We needed to develop standardized protocols for seamless communication between existing fleet management software and IoT devices. It's not just about creating a new system, but ensuring it can work harmoniously with what's already in place. User adoption was also a significant consideration. Any new technology is only as good as its implementation, so we put a lot of effort into training stakeholders to effectively use the new decentralized system.

Lastly, we had to ensure we were compliant with data protection regulations and industry standards. This required careful planning and consultation with legal experts. Despite these challenges, the integration of decentralized technology offered significant benefits, such as enhanced transparency and improved operational efficiency. This project really showcased how DEPIN, Decentralized Physical Infrastructure Networks, can revolutionize fleet management in specialized sectors like winter services. Ashant Pandey, one of Internet Computers' use cases is the BER pickup app. Can you share more details about this project and how Internet

Computers Platform has contributed to its success? Fabian Trolch, certainly, a Sean. The BER Pickup App is a project we're particularly proud of. It's an innovative mobile application that came out of a partnership between ASP, a leading transporter and logistics provider at Berlin Brandenburg Airport, BER, and AN, their innovation partner. The app was designed to tackle the complex logistical challenges of coordinating pickups for crew members and airport staff at BER. Internet computers platform has played a crucial role in the success of this project. We leveraged our advanced Cloud 3.0 infrastructure, which provides seamless

integration and scalability without the constraints of traditional vendor lock-in. This was particularly important in the dynamic environment of airport logistics, where flexibility and scalability are key. Security was another area where Internet Computers Platform really shone. Built in our decentralized infrastructure, the app implements robust security protocols to protect sensitive data and ensure compliance with industry regulations. In an airport setting, where data security is paramount, this was a significant advantage. The app also benefits from internet computers' unmatched scalability and flexibility.

It offers customizable user and rights management, providing granular control over user access and permissions. This level of control is madipossible by Internet computers' advanced capabilities and is crucial for managing the complex web of users and roles in an airport environment. By utilizing Internet computers' decentralized computing platform, the BER pickup app sets a new standard for cloud-based applications in the aviation industry. It offers greater resilience and reliability, which are critical in such a high-stakes environment. This use case really demonstrates how internet computers technology can be applied to solve real-world logistical challenges in critical sectors like aviation. It showcases our potential for enterprise-grade applications and how we're pushing the boundaries of what's possible with decentralized technology. Ashan Pandey.

How do these use cases reflect the broader potential of internet computer? And what industries or sectors do you see adopting ICP-based solutions? Fabian Trolch. These use cases, Ashan, are really just the tip of the iceberg when it comes to internet computer's potential. They showcase our ability to revolutionize various industries through decentralized solutions. What makes internet computer so versatile is its unique features, infinite escalability, cost efficiency, and seamless integration with other blockchains. These characteristics

position us as a platform that can adapt to a wide range of applications across numerous sectors. In terms of industries adopting internet computer-based solutions, we're seeing a lot of interest and potential in several key areas. Decentralized finance, or DeFi, is a big one. Our ability to interact directly with Bitcoin and Ethereum makes internet computer ideal for creating advanced DeFi applications, including decentralized exchanges and lending platforms. Social media is another sector where we're seeing significant traction. Internet computer enables fully decentralized social platforms like OpenChat, DSCVR, and District,

offering enhanced privacy and user control. This is becoming increasingly important in today's digital landscape. We're also making waves in the enterprise space with our cloud 3.0 infrastructure. Businesses are looking to build more secure and cost-effective solutions using advanced smart contract technology, and Internet Computer IS perfectly positioned to meet this need. The gaming industry is another exciting area for us. Internet Computer facilitates the creation of autonomous worlds, enabling fully on-chain gaming experiences. This opens up new possibilities for game developers and players alike. AI and machine learning is a sector where we see enormous potential.

Internet computers' integration of AI processing capabilities supports native Web3 integrations for complex AI models and data. As AI continues to evolve, we believe Internet Computer will play a crucial role in its decentralized implementation. Supply chain management is another area where Internet Computer's transparency and traceability features can create more efficient solutions. And in the realm of identity management, we see Internet Computer revolutionizing how we handle digital identities, giving users more control over their personal data. These use cases demonstrate Internet Computer's potential to transform industries by offering scalable, secure, and truly decentralized

solutions. We're excited to see how developers and businesses will continue to innovate on our platform in the coming years. Ashan Pandey. As decentralized technology continues to evolve rapidly, how do you see it shaping and transforming logistics and urban services? Fabian Trolch. That's an excellent question, Ashan, and it's one that gets to the heart of why we're so excited about the potential of decentralized technology, particularly platforms like internet computer and the broader concept of Decentralized Physical Infrastructure Networks. In the realm of logistics, we're seeing some truly transformative applications. Supply chain transparency is a big one. Blockchain-based

solutions on Internet Computer can provide end-to-end visibility in supply chains, which not only improves efficiency but also helps reduce fraud. This level of transparency was simply not possible before. Decentralized fleet management is another area where we're seeing significant impact. Our collaboration with Staix for the winter service company, X-Routen, is a great example of this. These solutions can optimize fleet operations, reduce maintenance costs, and improve overall efficiency in ways that traditional centralized systems simply can't match. We're also seeing interesting developments in tokenized incentives. Platforms like Doview are showing how tokenized rewards

can improve data sharing in transportation logistics, leading to more efficient operations. This kind of incentive structure could revolutionize how we think about data sharing and collaboration in logistics. When it comes to urban services, the potential is equally exciting. Smart city infrastructure powered by DEPIN can enable more efficient management of resources like energy and water. Imagine a city where every streetlight, watermeter, and energy grid is connected and optimized through a decentralized network. That's the future we're working towards. Decentralized energy grids are another fascinating application. Projects like LO3 Energy are demonstrating how decentralized technology can support community-based renewable energy systems. This could lead to more resilient and

sustainable urban energy infrastructure. Data management is a critical aspect of urban services, and internet computer-centralized nature can help cities manage and secure the vast amounts of data generated by urban services more effectively. This not only improves efficiency but also enhances privacy and security for citizens. We're also seeing potential for decentralized governance in urban services. Blockchain technology can enable more transparent and participatory decision-making processes, giving citizens a greater voice in how their cities are run. Sustainable resource management is another area where decentralized systems can make a big impact. By facilitating better tracking and allocation of resources, these technologies can promote sustainability in urban environments.

As these technologies continue to mature, I believe we'll see even more innovative applications that make logistics and urban services more efficient, transparent, and responsive to citizens' needs. At the same time, they'll promote sustainability and community involvement in ways we're only beginning to imagine. It's an exciting time to be in this space, and we at Internet Computer are a thrilled to be at the forefront of these developments. Don't forget to like and share the story. Tip Vested Interest Disclosure This author is an independent contributor publishing via our business blogging program.

Hacker Noon has reviewed the report for quality, but the claims herein belong to the author. Hashtag D-Y-O-R Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.