What is Internet Computer (ICP)?

Internet Computer is a blockchain network launched in 2021 by the DFINITY Foundation with the great ambition to decentralize the whole internet and global computer system. It is said to be the first scalable blockchain platform that has the capacity to host a wide range of services and applications such as websites and enterprise systems. To do that, the blockchain boasts to have web-like speed and to be able to grow its capacity as needed. The protocol also encourages everyone to build their own applications on the Internet Computer blockchain and has detailed documents on their websites explaining the how-tos.

How Internet Computer (ICP) Works

The key technology that will enable the network to run millions of nodes and thousands of subnets at once, and thereby creating a powerful decentralized web is Chain Key Cryptography. The Internet Computer, unlike most other blockchains, has only one public key. The single public key enables any device, no matter how powerful, to verify the authenticity of transactions and assets in the network without requiring a lot of data and computing power.

Furthermore, canisters (codes and states deployed to the Internet Computer) can be run across a number of nodes at the same time, eliminating the single point of failure while allowing the process to be faster and the result more correct. All nodes that process a canister are required to sign one shared secret key to mark the result, and their signatures can only be verified using the public key.

The unique infrastructure of Internet Computer enables the network to operate and upgrade seamlessly and easily. Replacing faulty nodes without halting the whole network or part of the network, and reviving a subnet when too many nodes within it crash are also possible for Internet Computer.

How Many Internet Computer (ICP) Tokens Are in Circulation?

ICP is the native and utility token of the Internet Computer blockchain that allows holders to take part in governance, pay for computation, or earn rewards through staking. The token does not have a max supply, and currently has a circulating supply of 262,243,297.

DFINITY, the team behind Internet Computer, holds a large percentage of ICP tokens, which is 22.2%. This leaves only 77.8% to the community. Though the goal of Internet Computer is to decentralize the world at large, their token distribution shows a disproportionate amount of control that the team has over the network.

How to Buy Internet Computer (ICP)

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Internet Computer (ICP) Resources

Official Website

Whitepaper