ICP (Internet Computer) Introduction


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Brief Introduction

The Internet Computer is the world’s first blockchain that runs at web speed with unlimited capacity. Bitcoin created the immutable ledger and defined blockchain; Ethereum developed smart contracts and pioneered DeFi. The Internet Computer is the third major blockchain innovation — a blockchain computer that scales smart contract computation and data, runs them at web speed, processes and stores data efficiently, and provides powerful software frameworks to developers. By making this possible, the Internet Computer enables the complete reimagination of how services operate online, just as DeFi reimagines finance.

The Internet Computer extends the functionality of the global internet so that it can natively host software, transforming it into a public compute platform that empowers developers and entrepreneurs worldwide — providing a revolutionary new way to build tokenized internet services, pan-industry platforms, decentralized financial systems, and even traditional enterprise systems and websites. Entrepreneurs, enterprises, and government agencies now have a genuine choice: continue using proprietary and insecure server farms controlled by Big Tech, or securely deploy software and services directly to the public internet.

Native Token

The native token of the Dfinity project is ICP (previously called DFN). The project owner has conducted three financings: Seed round financing of $4.3 million; the 2nd round of financing of $61 million at the beginning of 2018 with a total of 32 million tokens; the third round of financing of approximately $100 million in August 2018 with a total of 23 million tokens.

After the mainnet goes live, there are 469,213,710 tokens on the whole network, but most of the tokens of early investors will be locked for 0-4 years. Participants of the project can participate in the Internet Computer's governance by holding ICP, and ICP tokens can be converted into cycles. The operation of Internet Computer programs, storage, and other functions need to consume cycles as fuel (cycles is similar to the gas fee of the Ethereum network).

Related Links

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error, or omission. Huobi does not take responsibility for any resulting direct or indirect losses.


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