Internet Computer (ICP) is the native utility token of Internet Computer, its own Layer-1 blockchain built by the DFINITY Foundation. The chain, sometimes called "IC," is not based on the EVM or Solana architecture. The network runs smart contracts called "canisters" that execute code and serve web content directly on-chain. Canisters pay for computation using "cycles," derived from burning ICP, and the protocol supports Chain Fusion, letting canisters interact directly with Bitcoin, Ethereum, and, per recent reporting, Solana assets.
Internet Computer differentiates itself by hosting full web-facing applications directly on-chain through canisters, rather than only settling token logic that off-chain front ends call into. DFINITY's Caffeine AI tool, a natural-language app builder running on the network, has reportedly generated approximately 15 billion lines of Motoko code, illustrating this on-chain-application focus.
The network retained about $726.55 in fees on Aug 30, 2026, and roughly $101,397.93 over the prior 30 days, with no separate treasury cut. In August 2026, the UN Development Programme partnered with DFINITY to pilot government AI and cloud systems on Internet Computer infrastructure.
ICP functions as both a utility token and a governance token. As a utility token, it is converted into "cycles," the unit used to pay for a canister's computation and storage on the network. As a governance token, holders stake ICP into "neurons" through the Network Nervous System for periods of 6 months to 8 years, earning voting power and rewards; longer lock-ups yield greater power. Neurons can also "follow" other neurons' votes, delegating decisions rather than voting on every proposal directly.
Circulating supply is approximately 556.18 million ICP, with a market cap near $1.3 billion and a fully diluted valuation equal to market cap, since ICP has no fixed maximum supply.
Net emission is moving from inflationary toward disinflationary: the "Mission70" NNS proposal, passed in January 2026, caps voting rewards and node-provider incentives while increasing the burn rate from cycle consumption, cutting annual inflation from about 9.72% toward roughly 2.92% by end of 2026.
Internet Computer's mainnet launched on May 10, 2021, an event DFINITY calls "Genesis," roughly five years after DFINITY's 2016 founding.
ICP runs on Internet Computer, its own native Layer-1 blockchain built by the DFINITY Foundation — not an EVM- or Solana-based chain.
The network is organized into subnets of independent nodes operated by third-party node providers, which execute the canisters that make up the protocol.
Internet Computer was founded by Dominic Williams, who holds the titles Founder, President, and Chief Scientist of the DFINITY Foundation.
DFINITY describes its team as cryptographers, distributed-systems researchers, and programming-language experts, collectively credited by the foundation with nearly 100,000 academic citations and roughly 200 patents. Early backers include Andreessen Horowitz (a16z), Polychain Capital, Aspect Ventures, SV Angel, Electric Capital, ZeroEx, Scalar Capital, and Multicoin Capital.
The DFINITY Foundation, a not-for-profit research organization headquartered in Zurich, Switzerland and founded in 2016, incubated, built, and launched Internet Computer and the ICP token.
DFINITY continues to fund core protocol research, tooling such as the Motoko language and Caffeine AI, and ecosystem growth. Day-to-day network operation and protocol changes are formally governed on-chain through the Network Nervous System rather than solely by DFINITY as a corporate entity.
Internet Computer is governed on-chain by the Network Nervous System (NNS), described by DFINITY as a fully autonomous governance system responsible for protocol upgrades, subnet management, and network parameters.
ICP holders participate by staking tokens into "neurons" to gain voting power, or by configuring neurons to automatically follow other neurons' votes on some or all topics (liquid democracy), so most holders delegate rather than vote directly. In January 2026, the "Mission70" proposal passed NNS voting with over 53% support, restructuring network tokenomics.
DFINITY runs an ongoing third-party security audit program, primarily using Trail of Bits and NCC Group, with reports published on the Internet Computer Wiki.
As of a May 2024 snapshot, the top 10 ICP addresses held approximately 14.39% of supply, with the largest holder near 5.2% — a relatively distributed profile.