Internet Computer (ICP): The Blockchain that Runs at Web Speed
Internet Computer is a high-performance public blockchain designed to host websites, enterprise systems, and internet services entirely on-chain.
It replaces traditional cloud providers by running code directly on the blockchain.
The ICP token fuels computation, governance, and network rewards.
What Is Internet Computer?
Internet Computer:
- Hosts scalable, secure apps and services directly on-chain
- Eliminates centralized cloud servers, reducing reliance on Big Tech
- Uses “canister” smart contracts for high-speed execution
Launched in 2021 by the DFINITY Foundation, it’s governed by the Network Nervous System (NNS), a decentralized autonomous system.
Key Features of Internet Computer
- Web-Speed Smart Contracts: Near-instant execution times.
- Infinite Scalability: Network expands by adding more node machines.
- Reverse Gas Model: Developers pay for computation, not users.
- NNS Governance: Token holders propose and vote on protocol changes.
ICP Token Utility
- Convert ICP to “cycles” to power smart contracts
- Stake ICP in the NNS for governance and rewards
- Pay for computation and storage
⭐ More about Internet Computer’s current market performance, technical trends, fundamentals, and recent developments find on altFINS.
