1/22/2024 0 Comments Dodo crypto coinThis enables them to create signed transactions that run on other blockchains. Recently, chain key crypto has been used to make “Chain Key TX” functionality available to smart contract developers. This is more secure than normal web serving because the smart contracts can sign the content they serve, which can be validated before it is shown to users, keeping them safe. However, chain key crypto also makes other things possible! For example, smart contracts on the Internet Computer can process HTTP requests and serve interactive web experiences directly to end-users. Thanks to chain key crypto, the Internet Computer can combine its subnet blockchains into a single blockchain and scale limitlessly. Valid signatures show that interactions have not been tampered with, and also that the blockchains are running correctly – without any need to download and check their blocks of transactions. The blockchains cryptographically sign all their interactions, which can be validated using their chain keys. It enables subnet blockchains, and the overall Internet Computer blockchain produced, to have public “chain keys”. This is because they are combined into a single logical blockchain using “chain key crypto.”Ĭhain key crypto is unique to the Internet Computer. However, these subnets are invisible to the hosted smart contracts and users. Internally, the Internet Computer network is composed of “subnet blockchains.” Each new subnet adds additional capacity to the network, which means it can host more smart contracts, computation and data. The network has a governance system called the NNS, which can slash (‘eject”) node machines that fail to produce enough blocks and keep up with the network, which is why they need to be built to a standard specification. The best moniker to describe the blockchain network model used by the Internet Computer is “Proof-of-Useful-Work”. These node machines connect to each other using Internet Computer Protocol, or ICP, which is where the token gets its name from. It runs entirely on a sovereign network of dedicated node machines, which are installed in independent data centers by independent “node providers.” The Internet Computer cannot be hosted in this way. Today, most Proof-of-Stake blockchains are hosted by “validator” nodes that are software instances often spun up on cloud computing services. The Internet Computer blockchain runs on a network of special computing devices called “node machines,” which are built to a variety of standards. Some, like WiFi routers, are installed in homes, while others, which connect countries, are very specialized and expensive. The internet, which now connects nearly everybody and everything, runs on a network of special devices called routers.
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