Internet Computer celebrates two years as the leading decentralized cryptographic cloud

Highlights

• Total transactions processed per day increased from 95M in 2022 y 490 m in 2023, an increase of 415% year-on-year
• The network averages over 5,500 transactions per second (TPS)
• The number of nodes in the network increased from 519 in 2022 to 1235 in 2023, an increase of 181% year on year
• Over 3TB of data stored in smart contracts

ZURICH, June 21, 2023 /PRNewswire/ — The Internet Computer, a fully decentralized third-generation blockchain and cloud infrastructure, recently celebrated its second anniversary, marking another year of exponential growth and development. With a relentless pursuit of innovation, Internet Computer has driven revolutionary advances in decentralized cloud computing, solidifying its position as a leader in the transition and adoption of the web3.

DFINITY Foundation is a major contributor to the Internet Computer blockchain and is dedicated to democratizing open Internet development and removing control from centralized entities. With its scalable and secure infrastructure, Internet Computer has gained widespread recognition for its transformative impact on the web3 ecosystem. Internet Computer has continually pushed the boundaries of what is possible, allowing developers to build and deploy decentralized applications (dapps) directly over the network.

Dominic Williamsfounder and chief scientist of the DFINITY Foundation, commented on the anniversary: ​​”Our mission is to build a new generation of the Internet that is open, secure, and community-owned. The Internet Computer unlocks the potential for decentralized applications and services that are not possible on no other network.Internet Computer has brought the industry one step closer to blockchain singularity: every system and service is rebuilt and reinvented using smart contracts, and runs entirely off the infinite public blockchain without the need for traditional IT.

Led by a visionary Dominic Williams, the Internet Computer has experienced remarkable growth over the past year, revolutionizing the way developers and users interact with the Internet. As of May 2023Internet Computer processed half a billion transactions a day, and its new smart contract approach, called a canister, now holds 3.7TB of data.

In December 2022, the Internet Computer integrated with the Bitcoin blockchain, which allows the Internet Computer to act similar to a Layer 2 for Bitcoin. Smart contracts on Internet Computers can hold, send, and receive Bitcoin natively, without having to rely on Bitcoin wrapped by centralized bridging services. Internet Computer will also integrate with the Ethereum blockchain to create decentralized front-ends and data processing for Ethereum dApps, as well as improved multi-chain DeFi.

Last month Internet Computer generated its 2 billionth block, a key number that speaks to the scalability of Internet Computer and its development compared to other platforms. Currently, the Bitcoin blockchain has fewer than 800,000 blocks, Ethereum fewer than 15.5 million, and Solana fewer than 200 million.

Notable accomplishments

• Average Internet Computer TPS increased from ~2400 in 2022 to ~5600 in 2023, an increase of 136% YoY
• Data stored in Internet Computer containers increased from 928GB in 2022 to 3,160GB in 2023, a 240% year-over-year increase
• Number of containers increased from 63,359 in 2022 to 277,100 in 2023, a 337% year-on-year increase
• Internet Computer has integrated the Bitcoin blockchain at the protocol level
• The internet computer has not experienced any downtime since launch

“I am incredibly proud of the milestones Internet Computer has achieved in such a short time,” continued Williams. “The Internet Computer offers thousands of developers a powerful and secure platform to build the next generation of applications. We believe in the Internet Computer’s potential to reshape the Internet as we know it and are committed to scaling its capabilities, promoting inclusiveness and strengthening our community ”.

The DFINITY Foundation remains steadfast in its mission to lead the advancement of a decentralized internet. The Foundation has issued more than 250 grants to developers since the genesis of the Internet Computer and will continue to partner with industry innovators to promote transparency and accessibility in the digital landscape.

About the DFINITY Foundation
The DFINITY Foundation is a non-profit organization made up of leading cryptographers, computer scientists, and distributed computing experts. With a mission to move cloud computing to a fully decentralized state, the Foundation leveraged its expertise to create the Internet Computer and currently operates as a major contributor to the network.

About Internet Computers
Internet Computer (ICP) is a fully decentralized web3 cloud platform that allows developers to deploy code directly on the blockchain without the need for servers or other centralized infrastructure. The fast, cheap, and easily scalable protocol sets a new paradigm for how a decentralized web3 platform actually works. ICP offers the same functionality as centralized clouds, but with the convenient computing, enhanced security, and fast processing speeds typical of decentralized technology.

Contact with the media
Aaron Dodd
[email protected]

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SOURCE DFINITY Foundation