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Internet Computer price, market cap, Internet computer features

What is Internet Computer?

Internet Computer price has a trading volume of $601,255,115. ICP price is up 0.8% in the last 24 hours. It has a circulating supply of 140 Million ICP coins and a total supply of 469 Million. Moreover, if you are looking to buy or sell Internet Computer, Binance is currently the most active exchange.

Internet Computer (IC) is the world’s first blockchain that is capable of running at web speed at unrestrictive capacities.  DFINITY Foundation is behind the idea of IC, it aims to recreate the web by supporting smart contract development at scale and changing the way people can interact using web services. Internet Computer aims to extend the public internet, so that it can be the world’s computing platform, in a independent manner. Internet Computer sets to revolutionize the design of the crypto economy, with an aim to overhaul traditional software services.

ICP is Internet Computer’s native token. It plays three prominent roles:

  • Network Governance: Users that participate in the governance will get rewards with ICPI
  • Production of Cycles for Compute: ICP converts into cycles as a transaction fee use to access the network. 
  • Rewarding Users: Users receive ICP  as a rewards to incentivize and to participate in the network such as securing the network.

How does ICP differ from other coins?

One of ICP’s objectives was to solve the scaling problems experienced by Ethereum, without compromising on security or independent. For example, EOS has previously been criticized for such a compromise. 

Internet Computer claims that it can finalize transactions in 1 to 2 seconds. This fares far beyond Bitcoin’s 10-minute duration and Ethereum’s 15-second duration (depending on network traffic). The Internet Computer claims to have a block rate of 2.5 blocks per second (bps), with the expectation of improving it till 1,000 bps by end of the year 2021. Importantly, ICP addresses a problem far beyond merely solving Ethereum’s shortcomings as its wider objectives are to take on the $370 billion cloud computing market, and independent the public internet wholly.

How do I get ICP?

ICP is immensely popular cryptocurrency and is available on various exchanges such as Binance and Coinbase. Furthermore, You can browse through the various centralized and independent exchanges by heading over to our exchanges page.

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