Internet Computer (ICP): Everything You Need to Know
The trading performance of Internet Computer (ICP) tokens skyrocketed after it was listed on a number of leading cryptocurrency exchanges.
1. What is an Internet Computer (ICP)?
Internet Computer is the world’s first decentralized public network with an unlimited capacity established by the DFINITY Foundation. Its function is to provide public internet services and to allow back-end software to be hosted on the network. This decentralized cloud computing platform helps software developers freely share their open-source software frameworks on the Internet without relying on technology giants such as Amazon and Facebook, or servers and commercial cloud services.
2. What is an Internet Computer token?
Internet Computer (ICP) token runs on its own proprietary protocol called Internet Computer. It aims to establish protocol governance and facilitate network transactions. With the ICP token, ICP holders can vote for governance proposals. Another network transaction function is that ICP can convert to cycles that fuel the computation. Its holder can use the token to pay for transaction fees. Compared to the current Ethereum network, the ICP fee has a fixed price for transactions.
3. DFINITY Foundation
DFINITY Foundation, a non-profit organization, was founded in 2016 by Dominic Williams in Zurich, Switzerland. Its goal is to transform the Internet into a decentralized public computing platform.
DFINITY has currently set up three research centers globally, and the team has recruited more than 100 researchers, engineers, and teams for operations. Since 2015, this project has successively won the favor of well-known investors such as Andreessen Horowitz (A16Z), PolychainCapital, SVAngel, AspectVentures, VillageGlobal, MulticoinCapital, ScalarCapital, etc.
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