Get to know Internet Computer (ICP) — one of the most popular coins traded by Khotbot users!

Admin Codework
Aug 6
2 min read

Internet Computer (ICP) is a cryptocurrency and platform developed by the DFINITY Foundation, a non-profit organization based in Switzerland. The goal of ICP is to expand the capabilities of the internet and transform it into a global computing platform.

General Information about Internet Computer

Token Name: ICP
Founder: Dominic Williams
Launch Date: May 2021
Algorithm: Threshold Relay for blockchain creation, incorporating BLS signatures to ensure secure validation
Circulating Supply: Approximately 472 million ICP (as of September 2024)
Market Capitalization: Varies based on current market price. You can check the latest data on CoinMarketCap or CoinGecko.

Key Features of Internet Computer

Advanced Blockchain Infrastructure:ICP utilizes a modern blockchain architecture that enables applications to run securely and scale efficiently based on demand.
Decentralized Processing:Internet Computer allows applications to operate in a decentralized manner, enabling developers and users to build and use apps without relying on centralized servers.
Support for DApp Development:Developers can easily build decentralized applications (DApps) on the ICP platform without worrying about server setup or other backend infrastructure.

Projects Built on Internet Computer

Several projects have been developed and launched on the ICP platform to promote decentralization and support application development. Examples include:

OpenChat – a decentralized chat platform
DSCVR – a blockchain-based social media platform
CanCan – a decentralized video-sharing platform
Origyn – a project focused on digital certification and authentication
Fleek – a platform for building and hosting websites on Web3
CrowdFund NFT – a decentralized crowdfunding platform using NFTs

History & Development (Short Version)

Internet Computer is a public blockchain network designed to run smart contracts at web speed and scale, reducing processing costs. It allows developers to deploy websites and DApps directly to the internet. New ICP tokens are minted to reward contributors — including voters, node providers, and other participants who support network operations.

Source