The trading performance of the Internet Computer (ICP) token then skyrocketed It has been listed on a number of leading cryptocurrency exchanges.
ICP numbers among the top ten Cryptocurrencies according to the market capitalization currently in circulation. According to Coinmarketcap, ICP is the eighth largest cryptocurrency with a market capitalization of $ 40.8 billion. The token is currently trading at $ 339.63.
What is an Internet Computer (ICP)?
Internet Computer is the world’s first decentralized public network with unlimited capacity, established by the DFINITY Foundation. Its function is to provide public Internet services and 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 like Amazon and Facebook or servers and commercial cloud services.
What is an Internet Computer Token?
ICP token (Internet Computer) runs on its own proprietary protocol called Internet Computer. The aim is to set up protocol governance and facilitate network transactions. With the ICP token, ICP holders can vote for governance proposals. Another feature for network transactions is that ICP can convert to cycles that fuel the computation. Its holder can use the token to pay Transaction fees. Compared to the current Ethereum network, the ICP fee has a fixed price for transactions.
DFINITY Foundation, a non-profit organization, was founded in 2016 by Dominic Williams in Zurich. The aim is to transform the Internet into a decentralized public computing platform.
DFINITY currently has three research centers worldwide and the team has hired more than 100 researchers, engineers and teams to operate. Since 2015, this project has gradually won the favor of well-known investors such as Andreessen Horowitz (A16Z), PolychainCapital, SVAngel, AspectVentures, VillageGlobal, MulticoinCapital, ScalarCapital etc.
Image source: Shutterstock