Internet Computer (ICP)
Web3 / blockchain technology
Internet Computer is a blockchain network developed by the DFINITY Foundation that aims to extend the internet's functionality by enabling software, services, and data to be hosted and executed directly on a decentralized network of computers worldwide. Rather than treating blockchain primarily as a payment system, ICP reimagines it as a complete computing platform capable of running general-purpose applications, databases, and smart contracts with performance approaching traditional cloud infrastructure. By combining cryptographic protocols with a novel consensus mechanism, ICP allows developers to build full applications entirely on-chain, eliminating dependence on centralized cloud providers like AWS while maintaining security and availability. Example: Internet Computer hosts decentralized services including Distrikt, a social media platform, and various DeFi protocols, all running entirely on-chain without relying on traditional servers or cloud infrastructure. Why it matters for blockchain technology: Internet Computer challenges the assumption that blockchains must be slow and limited in functionality. By positioning itself as a credible alternative to centralized cloud computing, it expands blockchain's potential from financial rails to a genuine computing substrate.
Explore the full Web3 Glossary — 2,062+ expert-curated definitions. Need guidance? Talk to our consultants.