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![Internet Computer](https://img.bitgetimg.com/multiLang/coinPriceLogo/155f3c69aa8ac5d32137b1eae2ba949a1710263121287.png)
Internet Computer priceICP
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About Internet Computer(ICP)
About Internet Computer
The Internet Computer (ICP) is the first world computer blockchain that represents a new paradigm in computing by introducing a decentralized network that runs at web speed with unlimited capacity. It's designed to host everything from smart contracts to data and content directly on the internet, eliminating the need for traditional servers and cloud services.
Created by the DFINITY Foundation in 2021, the Internet Computer aims to democratize the internet, allowing developers to create websites, enterprise IT systems, DeFi applications, and more, all in a decentralized environment.
In 2021, the DFINITY Foundation announced a fund of CHF 200 million, or around US$223 million, to support development on the Internet Computer. By providing financial backing, they aim to enable developers and entrepreneurs to create new technologies and applications that can leverage the decentralized infrastructure.
Resources
Whitepaper: https://internetcomputer.org/whitepaper.pdf
Official website: https://internetcomputer.org/
How does Internet Computer work?
The key technology that will enable the network to run millions of nodes and thousands of subnets at once, and thereby creating a powerful decentralized web is Chain Key Cryptography. The Internet Computer, unlike most other blockchains, has only one public key. The single public key enables any device, no matter how powerful, to verify the authenticity of transactions and assets in the network without requiring a lot of data and computing power.
Furthermore, canisters (codes and states deployed to the Internet Computer) can be run across a number of nodes at the same time, eliminating the single point of failure while allowing the process to be faster and the result more correct. All nodes that process a canister are required to sign one shared secret key to mark the result, and their signatures can only be verified using the public key.
The unique infrastructure of Internet Computer enables the network to operate and upgrade seamlessly and easily. Replacing faulty nodes without halting the whole network or part of the network, and reviving a subnet when too many nodes within it crash are also possible for Internet Computer.
What is the ICP Token?
ICP, the native and utility token of the Internet Computer, plays an important role in network governance and is used to facilitate various activities within the ecosystem:
- Participating in Governance: Token holders can lock their ICP to create neurons, allowing them to participate in the network's decentralized governance through voting, thereby influencing the network's direction.
- Facilitating Operations: The ICP token is also used to pay for computation cycles on the network, facilitating smart contracts and other decentralized applications.
- Economic Incentives: Nodes in the network are rewarded with ICP tokens for providing computing capacity, creating an incentivized system that encourages participation and ensures network integrity.
DFINITY, the team behind Internet Computer, holds a large percentage of ICP tokens, which is 22.2%. This leaves only 77.8% to the community. Though the goal of Internet Computer is to decentralize the world at large, their token distribution shows a disproportionate amount of control that the team has over the network.
Conclusion
The Internet Computer presents a revolutionary approach to decentralized computing, offering an open and public computing resource. Its architecture ensures scalability and efficiency, and the ICP token is integral to its operation and governance. Together, these elements form a powerful platform with the potential to reshape the internet landscape, fostering innovation and inclusivity.
It's important to note that like any other cryptocurrencies, the Internet Computer carries its own risks and it's always wise to do your own research and exercise caution while investing.
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Crypto calculatorHow to buy Internet Computer(ICP)
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Trade ICP perpetual futures
After having successfully signed up on Bitget and purchased USDT or ICP tokens, you can start trading derivatives, including ICP futures and margin trading to increase your income.
The current price of ICP is $7.1, with a 24h price change of +1.60%. Traders can profit by either going long or short onICP futures.
Join ICP copy trading by following elite traders.
Internet Computer news
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Internet Computer Social Data
In the last 24 hours, the social media sentiment score for Internet Computer was 3.2, and the social media sentiment towards Internet Computer price trend was Bullish. The overall Internet Computer social media score was 46,320, which ranks 60 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Internet Computer being mentioned with a frequency ratio of 0.06%, ranking 27 among all cryptocurrencies.
In the last 24 hours, there were a total of 1,364 unique users discussing Internet Computer, with a total of Internet Computer mentions of 632. However, compared to the previous 24-hour period, the number of unique users increase by 2%, and the total number of mentions has increase by 1%.
On Twitter, there were a total of 42 tweets mentioning Internet Computer in the last 24 hours. Among them, 24% are bullish on Internet Computer, 0% are bearish on Internet Computer, and 76% are neutral on Internet Computer.
On Reddit, there were 73 posts mentioning Internet Computer in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 20% .
All social overview
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