Internet Computer (ICP)
|Volume / Market Cap||0.0340|
|Total Supply||493,540,701 ICP|
Internet Computer is currently trading at $4.4906, after a price change of 3.44% in the last 24 hours.
Ranked as cryptocurrency #37 by capitalization today, ICP market cap is valued at $1,272,508,651. ICP trading volume reached $43,313,524 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on ICP coin price prediction page.
What is Internet Computer?
Internet Computer is a decentralized open-source blockchain network developed by DFINITY, a nonprofit company based in Switzerland. It was introduced in May 2021. The native crypto token of this platform is known as ICP. This token lets you build online services, websites, and applications. The main objective of Internet Computer is to serve as a network that facilitates the creation of any type of application.
This network operates on its own hardware as opposed to the cloud. It executes transactions at a fast pace. You will not find ICP tokens on most exchanges. Internet Computer has four main layers, namely canisters, subnets, nodes, and data centers.
The algorithm used by this protocol is known as Threshold relay, and it is a modified version of the proof-of-stake model. Here, the nodes generate a random number which is used for choosing the next set of nodes. The smart contracts are processed via update calls and query calls. The change is permanent for the first one since it is run on every node. For query calls, the memory changes are deleted after processing, which occurs in a few milliseconds.
Right now, there are 182,065,119.45 ICP coins in circulation, while the net supply is 474,513,668.