![Internet Computer [IOU] Logo](https://cdn.crypto.app/icons/a/dfinity-iou.png){kind=icon}
Internet Computer [IOU] price is $281.66
As of the latest data, the price of Internet Computer (ICP) has decreased to $ 281.66 in the past 24 hours. This is a regular occurrence in the cryptocurrency market, reflecting the inherent volatility and changing market sentiments.
Internet Computer is a blockchain-based platform aiming to expand the functionality of the internet by enabling decentralized applications to run at web speed, scale and reduce computing costs. It is created by the DFINITY Foundation and is meant to be a complete reimagining of the internet as a compute platform that hosts backend software, transforming the public internet into a global computer.
Internet Computer was developed by DFINITY Foundation, a nonprofit organization based in Zurich, Switzerland. The team is led by Dominic Williams, who is the founder and chief scientist. DFINITY’s ambition is to provide a decentralized and non-proprietary network to run the next generation of mega-applications.
Internet Computer works by creating a decentralized, global blockchain network that allows independent data centers to contribute computing power to the platform. Its protocol, called ICP, allows software hosted on the internet to run on the network. The system utilizes a unique protocol called Chain Key Technology which consists of a set of cryptographic protocols that orchestrate the nodes that make up the Internet Computer.
The main uniqueness of Internet Computer stems from its ability to run at web speed and its capacity to increase its performance and capacity with the addition of more nodes to the network. It aims to take on traditional internet services by enabling developers to install their code directly on the public internet and run it on a decentralized network.
Chain Key Technology is a signature feature of the Internet Computer that allows the network to be updated with new software in just two minutes, unlike traditional blockchain updates that can take much longer. It also allows for a new kind of smart contract, called canisters, which are a form of tamper-proof containers that encapsulate both state and software logic in a single unit.
The security of the Internet Computer network is maintained through a decentralized structure, Chain Key Technology, and advanced cryptography. The network is made secure by splitting its operation into two key layers, the consensus layer and the messaging layer, each with robust security protocols.
As of the most recent data, the circulating supply of Internet Computer (ICP) tokens is . The total supply of ICP tokens is limited to .
The ICP token serves several purposes within the Internet Computer ecosystem. It is used to power computation for dApps and traditional applications. Additionally, it plays a role in network governance, allowing token holders to vote on proposals for upgrading the network.
The technology behind Internet Computer has evolved significantly since its inception. Updates and improvements are continuously made by the DFINITY Foundation to ensure the network meets its goal of creating a decentralized and scalable internet.
Internet Computer has a market capitalization of $ and it ranks at #1 in terms of its size compared to other cryptocurrencies.
You can purchase Internet Computer (ICP) tokens on various cryptocurrency exchanges. Some of the notable where ICP is listed are among the places you can look into for buying and trading this cryptocurrency.
To keep your ICP tokens safe, you can use hardware wallets which are considered one of the safest methods for storing cryptocurrencies. In addition to this, be cautious with phishing attempts and ensure you are always dealing with trustworthy services and platforms when managing and transacting with your ICP tokens.
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