Introduction of Internet Computer Price (ICP)
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| Internet Computer Price (ICP) | High:$6.32 |
Internet Computing (ICP) is an infrastructure that allows independent data centers around the world to come together and provide a seamless alternative to existing cloud Internet providers. The ICP token is used for governance (its holders can vote on the future of the network), to reward network participants for good behavior, and is used to pay to complete transactions.
Like most cryptocurrency projects, the Internet Computer Price (or ICP) is more than just a form of digital currency. Of course, ICP tokens that can be bought and sold through exchanges like Coinbase are only part of a larger concept.
The main idea of the ICP is to create a new kind of decentralized internet and global computing system – where independent data centers around the world can come together to create something else in the cloud (from companies like Amazon Web Services and Google Cloud) and power most of the Internet today. ICP’s plan is to make the protocol work on millions of computers around the world.
The ICP developers say that the resulting network has some important advantages over other centralized ones. For one thing, it works through open standards and avoids conflicts of interest that can arise when a large cloud provider supports products that compete with its own services.
Formerly known as DFINITY, PKI is a global, distributed data network that can run any application accessed through traditional Internet protocols such as DNS (the domain name system you use through web browsers and smartphones).
The ICP token has several main uses: it works as a token of governance (allowing its holders to “lock” part of their ICP into the network to have a say in the future development of the ICP protocol), the network pays for it. While the data is shared for good practice, it is also used to pay for online business transactions.
Who founded the internet computer?
The project was founded in October 2016 by Dominic Williams and raised a total of $ 121 million from investors including Adreessen Horowitz, Polychain Capital, Multicoin Capital and others. On May 10, 2021, DFINITY introduced the Internet Computer into society, marking an important milestone for ICP because it means that the Internet now functions as a global computer that is not distributed.
This implies the release of all Internet computer code into the public domain, as well as the ICP token that allows tens of thousands of members of the community to control the Internet computer network.
How does the internet computer work?
Internet computers are built on a new distributed protocol called the Internet Computer Protocol (ICP), which combines the collective computing power of a large number of computer nodes to create a unified platform that can support application in any number and complexity. In Internet computing, smart contracts are divided into stored code units, called “canisters”, which are computing units that function as individual applications or services.
End users can use these cartridges to interact with each other through an embedded interface – and their user experience will be similar to today’s Internet. Unlike the traditional Internet, the Computer Internet will host and serve applications and data, rather than relying on centralized infrastructure. Under its layer, the central data network can start a gateway running the ICP protocol. These nodes can be configured into networks that host software cartridges that users can interact with as part of their web experience.
In March 2021, the platform launched a public mainnet with a data center that developers are currently accessing. ICP tokens are not yet traded on exchanges, but many ICP futures products (known as IOUs) are traded on various exchanges, including MXC.
What Internet computer problems does solve?
In December 2020, at the beginning of the Mercury Milestone, Internet computers began to grow as part of the public Internet. When talking about Internet Computing, Dominic Williams said the following about the purpose of Internet Computing:
1. The Internet has become a global network so far. Internet computing seeks to extend this architecture so that the Internet becomes a social computing platform. In this way, users will be able to build directly on the network. By using Internet computing, developers can build traditional websites and business systems efficiently and effectively. They will not rely on legacy computing, including proprietary cloud services, servers or database systems. This will reduce the barriers to entry, and the designer will build only by writing common ideas in space.
2. In addition to empowering developers and entrepreneurs, Internet Computing also supports the development of open source Internet services, using autonomous code. According to Dominic Williams, a transparent, open and tokenized governance system is essential for the functioning of an open internet. If necessary, developers can get money for such a project by selling government tokens from anywhere in the world. As expected by the Internet Computing Group, open Internet services will allow trustless APIs to support third-party extensions that share services and data with other services that users can add to improve their experience.
#3. With its ability to connect, open internet services will enable the creation of a dynamic governance model, making gig-based businesses more efficient business operators.
