What is an Internet Computer (ICP)? Internet Computer is a public, smart, contractual backbone blockchain on which developers can build things like decentralized applications (DApps) and non-fungible tokens (NFTs). The project coin, Internet Computer Protocol (ICP), plays various roles within the Internet Computer blockchain ecosystem.
How does the Internet Computer (ICP) work?
The Internet Computer blockchain is touted as a highly scalable blockchain capable of fully tracking current internet activity. The Internet Computer blockchain has an on-chain governance entity called the Network Nervous System (NNS). The Internet Computer’s scalability stems in part from its ability to spread the workload across subnet blockchains, as dictated by the NNS.
The Internet Computer blockchain depends on the Internet Computer Consensus (ICC), its consensus mechanism, for blocks on the mainnet.
The Internet Computer blockchain mainnet went live in 2021. The Dfinity Foundation, a non-profit entity established in 2016, is in charge of the Internet Computer blockchain supporting technology. The Dfinity Foundation has more than 200 people in its team and several research centers. The foundation envisions a future heavily based on blockchain and smart contracts.
The ICP cryptocurrency
The native asset of the Internet Computer blockchain, ICP, serves several purposes in the Internet Computer ecosystem. For example, governance proposals and votes are staked by “neurons”, which must hold a specified locked sum of KPIs. For the current ICP crypto price in US dollars (USD), see the top of the page, which includes a live ICP price in USD, above the ICP crypto chart.