Revolutionizing the Internet: Inside the Game-Changing World of Internet Computer Protocol

Colors of Web3 & Entrepreneurship

Dive into the cutting-edge of Web3 technology with Herbert Yang, the general manager of Asia at DFINITY Foundation, as we explore the revolutionary Internet Computer Protocol (ICP) in the 39th episode of Colors of Web3 & Entrepreneurship. This episode unravels the complexities of a truly decentralized internet and its potential to reshape our digital landscape. Discover how ICP is pushing the boundaries of blockchain technology, offering a unique blend of computation and storage capabilities that set it apart from other blockchain platforms. Herbert shares insights on: - The groundbreaking "chain key" technology powering ICP - How ICP is tackling the challenges of scalability and user experience in Web3 - The innovative "reverse gas fee" model that's changing the game for dApp developers and users - Real-world applications of ICP, from decentralized social media to enterprise-grade solutions - The future of AI in a decentralized ecosystem Whether you're a seasoned Web3 enthusiast, a curious developer, or simply intrigued by the future of technology, this episode offers a glimpse into a world where the internet is not just a network, but a powerful, decentralized computer at your fingertips. ⌛ Timestamps: 00:00:00 Episode trailer 00:00:29 Show introduction, Herbert’s Background & Journey into Web3 00:06:00 How Herbert first learned about ICP 00:09:06 The time when Herbert saw Jack Welch and Jeff Immelt (former CEOs of GE) 00:11:29 Herbert's entrepreneurial journeys as 3x startup founder 00:17:54 Timing as a factor in entrepreneurship success 00:20:50 His time at AWS's startup division 00:23:58 How he first learned about Bitcoin and crypto 00:27:33 Introduction about DFINITY Foundation and Internet Computer Protocol (ICP) and how they are connected 00:34:52 Deep dive into Internet Computer (ICP) 00:38:52 Canisters: smart contracts on ICP 00:40:17 Reverse gas fee model: no fees for users 00:44:32 Network Nervous System on ICP: decentralized ownership and control 00:47:26 Internet Identity (II): two-layer identity on ICP to preserve privacy 00:51:32 Asynchronous processing and horizontal scaling on ICP 00:55:28 Hosting websites on canister smart contract on ICP 00:58:13 Cycles (units of measure): powering smart contracts on ICP 01:03:28 Examples of applications on ICP 01:05:54 Direct Integration with Bitcoin through Chain Fusion Technology 01:11:07 Eliminating oracles and enabling seamless Web interactions with HTTP outcalls 01:14:18 Service Network Systems (SNS) - Social network applications on ICP 01:20:46 On-chain Decentralized AI on ICP 01:25:33 UTOPIA: Private cloud network for enterprises 01:30:01 $200M grants for developers building on ICP 01:32:18 Types of applications that can be built on ICP and UTOPIA 01:37:57 ICRC = The standards on ICP ecosystem 01:41:51 Proof of Useful Work (PoUW): consensus mechanism of nodes on ICP 01:46:52 Scalability and growth with subnets on ICP 01:54:38 The team under Herbert in Asia and how ICP operates in Asia 02:01:18 Challenges facing ICP in particular and Web3 in general 02:06:28 Tiktok-like app feasibility on ICP 02:08:00 PayPal-like app feasibility on ICP 02:12:40 Future Prospects for ICP 02:17:54 Advice for people who want to build on ICP 02:21:50 Where to follow Herbert and ICP 02:25:57 Final thoughts & next episode preview Follow Herbert and his company: Herbert's Twitter/X: https://x.com/herbertyang DFINITY Twitter/X: https://x.com/dfinity Dom - founder of ICP: https://x.com/dominic_w My social media: Twitter/X: ⁠https://www.twitter.com/LamWeb3⁠ LinkedIn: ⁠https://www.linkedin.com/in/lamweb3/⁠ Website: ⁠https://lamtrinh.xyz⁠ My latest article: https://lamweb3.substack.com/p/the-importance-of-decentralized-science If you enjoy this episode, please subscribe to stay updated on our upcoming episodes with industry experts and innovators in the Web3 and Entrepreneurship spaces. Thank you for listening!