Internet Computer (ICP) - Blockchain

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ICP
What is ICP?

Internet computer or ICP is a secured and transparent blockchain based network that can be used to host data and programs. The programs and data both are being hosted on chain on the internet computer and they're often  reffered to as decentralized applications. DAPPs are created by the development smart contracts, which on the internet computer are known as canisters. It aims to create a decentralized internet where applications can run without traditional servers.

The cannisters contains programs codes and state.

Lets dive into deep:

Purpose: To extend the functionality of the internet, enabling it to host smart contracts and decentralized applications (dApps) at scale.

ICP Tokens

Utility: ICP tokens are used to pay for computation and storage on the Internet Computer network.

Staking and Governance: Holders can stake ICP tokens in neurons to participate in governance and earn rewards.

How ICP Works

It basically works on two things. Canisters and Cycles.

  • Canisters: Smart contracts on the Internet Computer are called canisters. They encapsulate code and state, and can interact with other canisters and users.
  • Cycles: A resource used to pay for computation and storage. ICP tokens are converted into cycles to be used by canisters.

Network Structure

The architecture is depends upon nodes, subnetworks and chain key technology.

Nodes: Independent data centers run nodes that make up the Internet Computer.

Subnetworks (Subnets): Collections of nodes that work together to host canisters. They provide scalability and fault tolerance.

Chain Key Technology: A cryptographic technique that allows the Internet Computer to finalize transactions quickly and efficiently.

Development on ICP

For the development purpose, you will be needed two things. They are:

Motoko: A programming language designed specifically for building on the Internet Computer.

DFINITY Canister SDK: Tools and libraries to help developers build, deploy, and manage canisters.

ICP Governance

What is NNS?

Ans: The NNS is a decentralized, algorithmic system that manages the Internet Computer. It controls all aspects of the network including economic policies, configurations, and updates.

Functionality of NNS:

It automates decision-making and incorporates community consensus to ensure the network evolves efficiently and securely.

Proposals and Voting

1. Submitting Proposals: Any participant can submit a proposal. Proposals can be related to software updates, economic policies, or other governance matters.

2. Voting Process: Participants vote on proposals using neurons. Neurons are created by locking ICP tokens, which then grant voting power proportional to the number of tokens staked.

3. Rewards: Voters receive rewards in the form of ICP tokens for participating in governance, incentivizing active involvement in the network's decision-making process.

Security and Consensus

Threshold Relay Consensus

  • Mechanism: Threshold Relay is a consensus mechanism that combines cryptographic randomness with Byzantine Fault Tolerant (BFT) consensus.
  • Process: Randomly chosen groups of nodes (called notaries) produce cryptographic signatures on blocks. This ensures that the network remains secure and resilient to attacks.
  • Efficiency: This method allows the network to reach consensus quickly and efficiently, enabling high throughput and low latency.

Security Models

  • Data Integrity: Robust cryptographic techniques ensure that the data on the Internet Computer is immutable and tamper-proof.
  • Attack Resistance: The decentralized nature of the network and its consensus mechanism protect against various attacks, such as Sybil attacks and DDoS attacks.

Scaling and Performance

Infinite Scalability

  • Horizontal Scaling: The Internet Computer can add more nodes and subnets to scale horizontally. This means that as demand increases, the network can grow to accommodate more traffic and computation.
  • Subnet Mechanics: Subnets are independent networks of nodes that can process transactions and host canisters. They work together to form the larger Internet Computer network.
  • Load Balancing: Traffic and computation are distributed across subnets, ensuring no single point of failure and maintaining performance.

Performance Metrics

  • Transaction Throughput: The Internet Computer can process thousands of transactions per second (TPS), making it suitable for large-scale applications.
  • Latency: The network is designed to have low latency, meaning that transactions are processed quickly, enhancing user experience.

Advanced Development Concepts

Inter-canister Calls

  • Definition: Canisters (smart contracts on the Internet Computer) can interact with each other through inter-canister calls.
  • Use Cases: This allows for complex application logic, such as multi-step transactions, decentralized finance (DeFi) protocols, and cross-canister data sharing.
  • Implementation: Developers use the Motoko or Rust programming languages to write canisters that can send and receive calls from other canisters.

Upgrade Mechanisms

  • Seamless Upgrades: Canisters can be upgraded without downtime. This is crucial for continuous improvement and adding new features.
  • Process: Developers deploy a new version of the canister code. The NNS handles the upgrade process, ensuring that the state of the canister is preserved.

Query and Update Calls

  • Query Calls: These are read-only operations that do not alter the state of the canister. They are fast and do not consume cycles.
  • Update Calls: These operations can change the state of the canister and consume cycles. They are used for transactions and other operations that require state changes.

Practical Steps for Advanced Development on ICP

Setting Up the Development Environment

1.  Install DFINITY Canister SDK:

$ sh -ci "$(curl -fsSL https://internetcomputer.org/install.sh)"


2. Verify the Installation:
$ dfx --version

Creating and Deploying Canisters

Creating a New Project

$ mkdir my_ic_project 
$ cd my_ic_project


Initialize a new project:

$ dfx new hello
$ cd hello

 Deploying Canisters


Start the local Internet Computer replica:

$ dfx start --background


Deploy canisters:

$ dfx deploy

Interacting with Canisters


Call the greet function:
$ dfx canister call hello greet '("Tareq")'
Call the callGreet function from the Another canister:
$ dfx canister call another callGreet '("Basim")'

Summary

By following this structured approach, you'll gain a solid understanding of ICP, from the basics of blockchain to the intricacies of developing and deploying applications on the Internet Computer. Engaging with the community and contributing to projects will further enhance your knowledge and skills.

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