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I just learned about Internet Computer (ICP) and found it to be a pretty interesting blockchain project. Do you know what English abbreviation ICP stands for? It is Internet Computer Protocol — an advanced blockchain protocol developed by DFINITY Foundation.
The cool thing about Internet Computer is that it aims to replace traditional centralized systems with a decentralized computing environment. Instead of using AWS or Google Cloud servers, developers can build and deploy applications directly on the blockchain without any centralized infrastructure.
Regarding how it works, Internet Computer connects independent data centers around the world. These data centers operate specialized nodes that form subnets — groups of nodes capable of processing data and running applications. The so-called Canisters are advanced smart contracts that combine data storage and execution logic. The Network Nervous System (NNS) is an automated governance system that manages network configuration and monitors performance.
I see the biggest advantage of ICP as its processing speed — only 3-5 seconds compared to Bitcoin or Ethereum. Additionally, it has unlimited scalability, much lower transaction fees than other blockchains, and high security thanks to its decentralized architecture.
Regarding the ICP token, I found recent information that the total supply has reached 551,832,001 ICP, with circulating supply around 552,974,747 ICP. This token is used for network governance via NNS, paying transaction fees, and earning rewards from the network.
This project was founded in 2016, officially announced in 2018, then launched mainnet and token in 2021. DFINITY Foundation has raised over $195 million from funding rounds, with participation from Andreessen Horowitz, Polychain Capital, and other major investment funds. The team includes Dominic Williams (founder) and more than 188 blockchain experts worldwide.
Currently, Internet Computer is expanding its ecosystem with hundreds of DeFi, NFT, and Web3 applications. The 2024-2025 roadmap focuses on improving NNS governance and enhancing interoperability with Ethereum, Bitcoin, and other blockchains.
If you want to buy ICP, you can find it on major exchanges. However, like all blockchain projects, ICP is also highly volatile, so research thoroughly before making an investment decision.