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The attraction of the Internet Computer is powerful when it has just been launched for a few days and has quickly been listed on the world's leading cryptocurrency exchanges such as Binance, Coinbase, Huobi, etc. So what is ICP? What characteristics make the big guys pay so much attention to ICP (Internet Computer) so much? Let's find out with Cryptocoin24h now!
What is ICP Coin?
What is ICP? ICP is an open-source cloud computing platform built by DFINITY Foundation – This is a non-profit organization based in Switzerland that has raised nearly 200 million dollars to develop the project. ICP will use smart contracts to create a blockchain that can be easily applied.
As of 2018, the project has raised to 195 million USD from investors to start realizing its ambition after only three years of this project officially operating.
Outstanding features of ICP
ICP was developed to solve the problems that remain in traditional data storage systems (data centers) today – for example, poor information security, independence, etc., cloud service rights of distributors in the market.
The development vision of the project is that instead of having to store data on data centers, with blockchain – the project will allow the creation of networks and services that do not depend on data centers and be operated even when there is no support from any organization. Therefore, the network's security is guaranteed, as well as control and management of all people's data through smart contracts in a decentralized manner without having to be monopolized by any enterprise.
With the current traditional form of IT deployment (Server Machines, Database system, Web server, DNS Server, etc.), ICP will evolve and be replaced by Internet Computer.
Vision
The vision of the Internet Computer is to bring together the power of many computers worldwide to create a unified computing system, thereby helping to solve applications quickly but still ensuring decentralization of the project.
DFINITY Foundation has announced the roadmap for the next 20 years of the ICP project as follows:
- Over the next five years: Schools will provide knowledge about Internet Computer and Motoko (the project's programming language). Apply ICP to public internet services to monitor success.
- Over the next ten years: Internet Computer will gradually compete with the “big boys” in the current proprietary internet ecosystem, thereby slowly bringing DeFi to par with traditional financial technologies.
- Over the next 20 years: Make ICP bigger than current internet systems. Most of the critical infrastructure will use the Internet Computer, from which people can control their privacy and freedom in cyberspace.
What is the information about the ICP coin?
Key Metrics
| Token Name | Internet Computer |
| Icon | ICP |
| Blockchain Network | Dfinity |
| Standard | Updating |
| Contract | Updating |
| Current Total Circulation | 125,213,710 (26.65%) |
| Total Supply | 469,213,710 |
Token Sale
ICP Tokens are not offered for sale through presale. Like other projects, only a portion of tokens was airdropped to 2018 subscribers on Coinlist.
Token Allocation
ICP Coin is distributed as follows:
- Early Contributors: 9.50%
- Team Members: 18.00%
- Strategic Partnerships: 3.79%
- Seed Contribution: 24.72 %
- DFINITY Organization: 23.86%
- Strategy: 7.00%
- Presale: 4.96%
- Internet Computer Association: 4.26%
- Advisors and other third-party holders: 2.40%
- Coin Airdrop: 0.80%
- Initial Community Support with Developers: 0.48%
- Node Operator: 0.22%
Token Use Case
Main Uses of ICP Token:
Governance: Investors of ICP can participate in voting on the upcoming directions of the project
Paid: Users will have to pay fees in ICP tokens when participating in decentralized applications on the Internet Computer ecosystem.
How to earn and own ICP
Users can own this token by buying directly on major exchanges such as Coinbase, Huobi, Binance,…
Project development team
Dominic Williams – a research expert in Cryptocurrency research with many research articles on blockchain technology such as PSC chain, Validation Towers or USCIDs, etc.
Dominic has experience running an MMO game supported by venture capital funds with millions of users.
- Executive member
Gian Bochsler – an experienced entrepreneur. Currently an executive member of the DFINITY Foundation. Previously, Gian was co-founder of Bity – a European cryptocurrency exchange. The other executive members are all people who have worked in cryptocurrency and blockchain for a long time.
Investors
From its inception to the end of 2018, the DFINITY Foundation has raised up to $195 million. These funding rounds are led by two “reputable” investors in the market, such as a16z and Polychain.
In addition, other investment funds include Amino Capital, SV Angel, Aspect Ventures, Multicoin Capital, Village Global, Scalar Capital, KR1, and Amino Capital.
Conclusion
ICP is an extremely potential project and will grow bigger. This can also be an opportunity to explore the “promised land” for investors who like to take risks.
Can ICP completely change the old, slow Internet industry today?
Frequently asked questions about ICP Coin What is?
Who is the creator of ICP Coin?
Dominic Williams is the Founder and Chief Scientist of DFINITY. He is a theorist, inventor of Threshold Relay, Probabilistic Slot Consensus, and other new cryptocurrency techniques.
What is Dfinity Foundation?
Dfinity Foundation is a non-profit organization founded in 2016 with three research facilities worldwide. Up to now, there are 188 members in the organization.
The organization was founded with the sole purpose of developing the Internet Computer Protocol (ICP), which aims to improve the shortcomings of the current Internet system by replacing the existence of a cloud server with an existing one. Decentralized, run by validators.
Should I buy ICP coin?
Most major cryptocurrency exchanges such as Coinbase, Binance, Huobi, and Gate.io have already allowed Internet Computer trading. Moreover, currently, there is no other project with similar ideas with Internet Computer except Filecoin – a decentralized data store. The name of this token itself also met the needs of many people – an Internet computer.
