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About Internet Computer
Internet Computer (ICP) Overview
Internet Computer (ICP) is a groundbreaking blockchain project developed by the DFINITY Foundation. It represents the world’s first blockchain capable of operating at web speed with unrestricted capacity, fundamentally transforming how web services are built and utilized.
Key Features and Innovations
With the goal of extending the public internet into a decentralized global computing platform, Internet Computer supports the development of smart contracts at scale. This innovative approach aims to revolutionize the traditional software services landscape, enabling developers to create secure, network-resident applications that are resistant to cyber attacks.
Token Utility
The native token of the Internet Computer, ICP, serves multiple critical roles:
- Network Governance: ICP holders can participate in network governance, earning rewards in the form of ICPI for their contributions.
- Production of Cycles: ICP can be converted into cycles, which are used as transaction fees to access the network. These cycles are burned once utilized.
- Rewarding Users: ICP is used to incentivize users for securing the network and participating in its ecosystem.
Project Milestones
Founded in October 2016 by Dominic Williams, the Internet Computer has raised a substantial $121 million from notable investors including Andreessen Horowitz, Polychain Capital, and Multicoin Capital. The project reached a significant milestone on May 10, 2021, when it launched into the public domain, marking the internet's evolution into a decentralized computing platform. This launch included the release of its source code, making it accessible for community governance.
Applications and Ecosystem
The Internet Computer enables the creation of a diverse range of applications, including Web3 social media, Decentralized Finance (DeFi), multi-chain apps, and AI models. This versatility positions ICP as a foundational element in the expanding Web3 ecosystem, providing robust, tamper-proof solutions for developers and users alike.
Governance and Community Engagement
ICP fosters an active community of developers and users who are encouraged to engage in governance and development. The platform supports a variety of programming languages and offers comprehensive resources for developers, including a Web IDE and extensive documentation.
