Internet Computer Protocol (ICP) is a cryptocurrency designed to help people build apps, websites, and other online services. In practice, it enables anyone to develop software or post content on the Internet without depending on major providers such as Amazon, Google, or Facebook. Its goal is to bring back the feel of the web, but with a stronger emphasis on decentralization.

ICP was introduced by the Dfinity Foundation and is supported by notable venture capital firms Andreesen Horowitz and Polychain Capital.

Dominic Williams, who leads Dfinity, shared early project details in 2018. In 2020, Internet Computer was presented at the World Economic Forum in Davos, where it received positive attention. It later drew more notice across the broader community, and in 2021 its token, ICP, was launched. 

What are ICP key features and how does it work?

The ICP token plays a role in governing the network. For users who don’t want to stay actively involved, stacks-called neurons-can be set up to simply follow the majority outcome. 

ICP also serves as a way to compensate those helping operate the network. For instance, participants who provide liquidity to back the ecosystem are eligible. It can be staked, or "converted into cycles," which are used to supply processing power for dApps.

Internet Computer focuses on making it easier for development teams to create applications and on acting as a central place for building. By removing the need to choose separate cloud services, databases, and other components, it aims to streamline the process.

What is noteworthy about Internet Computer?

The protocol stands out versus other cryptocurrencies for these reasons:

First, its development tools allow anyone to use its blockchain to launch apps without relying on or working with large tech companies. It operates on a decentralized network rather than the cloud. Unlike many other blockchains that depend on cloud-based setups, Internet Computer runs on dedicated hardware managed by independent parties.

It also uses an Internet Identity, a “single password” style approach. With one authentication method selected by the user-such as face recognition or fingerprint scanning-users can access the different services available within ICP.

ICP includes its own programming language, Motoko. When developers write applications in Motoko, they are compiled into WebAssembly, which is widely used across the traditional Web. Motoko is intended to help simplify asynchronous programming and other more complex development work.

Where can you buy ICP?

Internet Computer is available on the CEXs and DEXs listed here. Popular options include Binance, OKEx, and CoinBase Pro.