What is Internet Compiter Coin (ICP)? Where to Buy?

Internet Computer

$3.33

ICP -4.73%

Buy ICP

Project Name: Internet Computer (ICP)

Website: Official

ICP Whitepaper: Official Documents

Maximum Supply: 506,760,124 ICP

Founding Year: 2021

Circulating Supply: 445,570,236 ICP

Supported Blockchain Networks: Internet Computer (ICP) is a decentralized blockchain platform developed by the DFINITY Foundation.

Exchanges Where It Can Be Purchased: Internet Computer (ICP) is traded on numerous cryptocurrency exchanges worldwide. Some prominent exchanges include: Binance, MEXC, KuCoin, HTX, Gate.io and many other cryptocurrency exchanges.

Internet Computer (ICP) is a decentralized network that aims to run smart contracts and other decentralized applications at web speed. Developed by the Switzerland-based cryptography foundation DFINITY, Internet Computer offers a significant infrastructure that addresses the scalability issues of other blockchain networks like Ethereum.

Developers using Internet Computer can create all kinds of applications on this platform, from social media platforms to DeFi ecosystems and even Ethereum-based dApps. This allows them to develop various projects and applications easily.

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The tools provided by Internet Computer enable users to choose between nodes or more powerful super nodes. Additionally, developers can work without any restrictions on security, network topology, and connection management. Furthermore, there is no need for developers to focus on details like database configuration and maintenance.

Internet Computer’s bold goals could bring significant changes to the blockchain field, but these claims should be scrutinized critically. If it can work at the promised scale, it can make substantial contributions to the blockchain industry.

What is Internet Computer (ICP) Coin?

Internet Computer (ICP) is a decentralized network that aims to run smart contracts and other decentralized applications at web speed. Developed by the Switzerland-based cryptography foundation DFINITY, Internet Computer offers a significant infrastructure that addresses the scalability issues of other blockchain networks like Ethereum.

The ICP protocol divides smart contracts into independent processing units called secure code units. These code units are accessible through entry points that provide an interface for users. By interacting with these code units, users can access the services offered by Internet Computer.

Who are the Founders?

The Internet Computer project was developed by the DFINITY Foundation. The founder and president of the DFINITY Foundation is Dominic Williams, a well-known figure in the blockchain technology and crypto world. Dominic Williams has led this project. Additionally, many talented engineers, researchers, and experts have contributed to the development of Internet Computer.

The DFINITY Foundation is a non-profit scientific research organization based in Zurich, Switzerland. It collaborates with a team of leading cryptography experts, distributed systems specialists, and programming language professionals from around the world.

ICP Coin Analysis

ICP Coin stands out with its notable features:

• Web-Speed Execution: Runs dApps at internet speeds, far surpassing traditional blockchains.
• Scalable Subnets: Independent chains for unlimited capacity and customization.
• Chain Key Tech: Enables secure, fast cross-chain interactions.
• Neuron Staking: Governance and rewards via locked ICP for network security.
• Market Volatility: ATH $700+ in 2021, current ~$5, reflecting high beta to crypto cycles.

ICP Coin | Purpose – Advantages

The purpose of Internet Computer is to extend the public internet with blockchain, enabling a decentralized web3. Here are its advantages:

• Decentralized Infrastructure: Hosts full dApps on-chain, no cloud dependency.
• High Scalability: Subnets allow infinite horizontal scaling.
• Fast Transactions: Millisecond queries, 1-2s updates at web speed.
• Developer Freedom: No limits on code size or storage; easy Ethereum migration.
• Governance: Neuron system for community voting and rewards.

Basic Use Cases

ICP token offers versatile functions within the platform:

• Cycles Conversion: Burn ICP for computational “cycles” to run dApps.
• Staking/Governance: Lock in Neurons to vote and earn rewards.
• Transaction Fees: Pay for network operations and storage.
• dApp Development: Fund and deploy apps in the ICP ecosystem.
• Trading: Buy/sell ICP on exchanges like Binance or Coinbase.

ICP Coin Investment Evaluation

Internet Computer innovates with its vision of a blockchain-powered internet, backed by DFINITY’s expertise. Initial $380 launch and rapid growth to ATH show hype, but 99% drawdown highlights risks like token unlocks and competition. At current levels, it’s speculative for web3 believers, but requires monitoring ecosystem adoption.

Future of ICP Coin

ICP’s future ties to dApp growth and subnet expansions. With 1,300+ nodes and plans for millions, scalability is key. Predictions: $10-20 by 2025 if web3 surges, but regulatory hurdles and Ethereum L2s pose threats. Strong developer tools could drive long-term value.

Frequently Asked Questions