DFINITY CEO on Web3, Moving Away From Cloud

The video discusses the launch and capabilities of the Internet Computer blockchain, highlighting its efficiency and independence from cloud services. It covers the governance system, constant upgrades, and integration with social media and DeFi. The potential of the metaverse is explored, along with the planned integration with Bitcoin, which will enhance smart contract capabilities. Despite market volatility, the focus remains on the technology's potential to transform industries.

What is a key advantage of the Internet Computer blockchain over traditional blockchains?

• It uses more cloud resources.

• It is less efficient.

• It can operate without cloud dependency.

• It has fewer developers.

What is the role of the Network Nervous System in the Internet Computer?

• It governs and upgrades the blockchain.

• It increases blockchain volatility.

• It manages cloud resources.

• It reduces the number of developers.

How does the Internet Computer handle upgrades?

• By using a centralized authority.

• By relying on external cloud services.

• Through manual updates by developers.

• Via proposals executed by the Network Nervous System.

How does the Internet Computer support social media applications?

• By using traditional cloud services.

• By storing data on external servers.

• By processing and storing data on the blockchain.

• By limiting data storage capabilities.

What is a significant feature of the Internet Computer's architecture?

• It cannot process large amounts of data.

• It is tamper-proof and non-stoppable.

• It relies heavily on cloud services.

• It is less secure than traditional blockchains.

What is the expected outcome of the convergence of social media and DeFi on the Internet Computer?

• Increased reliance on cloud services.

• Creation of SocialFi and GameFi.

• Decreased blockchain efficiency.

• Reduced user engagement.

What is a potential benefit of integrating the Internet Computer with Bitcoin?

• It will add advanced smart contract capabilities to Bitcoin.

• It will make Bitcoin more volatile.

• It will decrease Bitcoin's value.

• It will reduce Bitcoin's liquidity.