The trading performance of the Internet Computer (ICP) token soared after it was listed on a number of leading cryptocurrency exchanges.
ICP is listed in the top ten cryptocurrencies by market capitalization currently in circulation. According to Coinmarketcap, ICP is ranked as the eighth largest cryptocurrency with a market capitalization of $ 40.8 billion. Currently, the token is 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 role 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 tech giants like Amazon and Facebook, or commercial cloud servers and services.
What is an internet computer token?
The Internet Computer Token (ICP) runs on its own proprietary protocol called Internet Computer. Its objective is to establish the governance of the protocol and facilitate network transactions. With the ICP token, ICP holders can vote on governance proposals. Another transaction function of the network is that ICP can be converted into cycles that feed the calculation. Its holder can use the token to pay the transaction fees. Compared to the current Ethereum network, the ICP fee has a fixed price for transactions.
The DFINITY Foundation, a non-profit organization, was founded in 2016 by Dominic Williams in Zurich, Switzerland. Its objective is to transform the Internet into a decentralized public computing platform.
DFINITY has currently established three research centers globally and the team has recruited more than 100 researchers, engineers and teams for operations. Since 2015, this project has successively won the favor of renowned investors such as Andreessen Horowitz (A16Z), PolychainCapital, SVAngel, AspectVentures, VillageGlobal, MulticoinCapital, ScalarCapital, etc.
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