What is Internet Computer Protocol? All information about the project and token ICP

• Overview of Internet Computer Protocol (ICP)
• What is Internet Computer Protocol (ICP)?
• Outstanding Features of ICP
• ICP project development roadmap
• Project development team and investors of ICP
• General information about the ICP token
• What are ICP tokens used for?
• ICP token details
• ICP token allocation
• How to earn and own ICP tokens
• summary

Appearing around the beginning of June 2021, the Internet Computer Protocol project and the ICP token quickly attracted the attention of the public when quickly reaching the threshold of $ 80 billion. This number even surpasses previous famous projects such as Cardano, Dogecoin or Ripple. So does ICP token really have such potential? The following article will partly help answer that question.

Overview of Internet Computer Protocol (ICP)

What is Internet Computer Protocol (ICP)?

ICP stands for Internet Computer Protocol project. This is a well-known blockchain protocol. It supports the operation and management of a network and data system through nodes. These nodes are launched on a chain of servers around the world. This ICP will adopt smart contracts to create a new blockchain with a new mechanism. It can quickly and conveniently develop your own applications with extensive features.

This is considered a decentralized data center. There, it is completely independent of any chain of computers. Its operating principle is dependent on contributions from most of the system's individual machines. As a result, it enhances the security of the network. The security process is therefore also more secure and users are completely assured. 

In addition, developing websites will become extremely easy. Accessing these pages using the mobile app as well as the websites will not be a problem.

Outstanding Features of ICP

As a potential project, ICP owns a structural system consisting of 4 floors. Thanks to the system of smart contracts , these structures will be fully utilized to store data as well as develop code at the top of the project.

After the data undergoes interaction with the protocol, it is sent to the lower layer. This layer is known as IP or also known as the Internet. The ICP protocol will complete them before being sent to the data center (Data Center).

ICP licenses participants to use to create their own websites. In addition, it also supports building systems and Dapps by sending development data directly to the open Internet as information provided by the project.

In addition, the NNS (Network Nervous System) layer owned by the DFINITY Foundation will assist developers in deciding who has access and who is empowered to manage data for end users. Therefore, the security information of Dapp users will not be stolen.

Finally, when nodes are used on the ICP platform, users or developers are also granted DCID (Data Center Identity) certificates thanks to the governance mechanism using the above NNS algorithm. 

ICP project development roadmap

With the strategic vision of a potential project, ICP quickly laid out a promising development roadmap for the next 20 years:

• Over the next 5 years: Information about ICP will be made available in schools. This information is mainly about the Internet computer as well as the Motoko programming language of the project. At the same time, the project is constantly promoting the application of ICP in public Internet products and services. This is done to monitor the level of success as well as the effectiveness of the actual application of the project.
• The next 10 years journey: ICP hopes to be strong enough to compete directly with the giants who are monopolists in the current Internet ecosystem. In addition, ICP's ambition is to bring DeFi to par with traditional financial technologies.
• In the next 20 years: Realizing the development of ICP beyond the traditional Internet system. Along with that, ICP will be used in most critical infrastructures. As a result, participants can exercise privacy control over the cyberspace themselves. 

Project development team and investors of ICP

Development team

As a strongly emerging project, ICP possesses a talented pool of professionals. Which includes:

• Founder – Dominic Williams: He is a longtime person in the industry and has a lot of experience in running businesses in the technology field. One of the most special features about this person is his possession of a lot of academic work on blockchain and cryptocurrency research.
• In addition, other key employees appeared. They are all talented and dedicated people. As TraderH4 knows, this staff is carefully selected. They are seasoned people with long experience in blockchain, technology, cryptocurrencies, etc.

Investors

The main investor of the project is DFINITY Foundation. In addition, the project also received the help of other investment funds such as: Aspect Ventures, SV Angel, Multicoin Capital, Scalar Capital, KR1...

It is estimated that the total amount of money they have invested in the project since its inception (2015 to the end of 2018) has reached more than 195 million USD.

General information about the ICP token

What are ICP tokens used for?

As a platform token, ICP functions as both a governance token and a utility token. The main use of this token is:

• You absolutely have the right to block the ICP to vote on proposals. Besides, you will be rewarded with activities when participating in the project management process.
• This token is also extremely useful as you can use it to pay for transaction fees on the platform. It can be said that all developers as well as participants in the ICP project will be required to pay a fee if they use and interact with the Dapp.

ICP token details

• Blockchain: DFINITY Foundation
• Code: ICP
• Token type: Administration token and utility token
• Standard: ERC-20
• Contract: 0x7a1B3b…A69Df3deF5
• Circulating Supply: 136,899,213 ICP tokens
• Total supply: 469,213,710 ICP tokens

ICP token allocation 

Currently, with the total supply of ICP tokens up to nearly 470 million distributed as follows:

• Project promoter owns 24.72%
• DFINITY Foundation holds 23.86%
• The development team accounts for 18.00%
• Early investors of the project accounted for 9.50%
• Develop a 7.00% ownership strategy
• Pre-sale about 4.96%
• Internet Computer Systems Construction Association holds 4.26%
• Strategic partnership development accounts for about 3.79%
• Advisors own 2.40%
• Community airdrop accounts for 0.80%
• Project finance accounted for 0.48%
• Operator accounts for 0.22%

How to earn and own ICP tokens

After the above research, surely many of you still do not know how to find and own this potential token? So let's explore with TraderH4!

Up to now, there have appeared many centralized exchanges such as Binance, Coinbase and Huobi Global… that allow trading of ICP tokens. So you can completely refer to these floors. These are all large and reputable exchanges with hundreds of thousands of transactions per day.

summary

So TraderH4 went with you to learn the most basic information about the ICP project. Surely you have understood more about the project and partly explained the question what is ICP right? Hope the article will be useful and contribute to lead you to successful transactions!

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