Internet Computer, previously known as Dfinity, is building a decentralized “internet computer”, or cloud platform. The project began its fundraising back in 2017, where they've raised more than $100M by the end of 2018. Early investors received an IOU-ICP version of the token that allowed them to buy, sell and hold the native token of the blockchain that is not yet gone live.The mainnet went live on May 7, 2021 and the ICP token was publicly launched on May 10,2021.
What is ICP?
Internet Computer is a decentralized platform that enables users to store data, perform computation, and support community-driven governance. ICP’s cloud computing platform that aims to compete with centralized giants such as Amazon AWS, Microsoft Azure and Google Cloud.
What are the goals of ICP?
ICP's ambition is to lead cloud computing as decentralized as possible so as not to be dependent on centralized giants such as Amazon AWS, Microsoft Azure and Google Cloud. ICP’s future goals will also allow users to save their data on the blockchain instead of in large data centers owned by companies like Facebook or Google.
Benefits of ICP.
The main benefit of owning the Internet Computer token is being able to use it as a means to store data on their decentralized network. This will allow for faster and more secure encryption with no centralized servers or company to hack. Cryptography will be used to encrypt files and data, where only the owner with a private key will be able to decrypt their file.
Investors can earn tokens through their investment by using kWhs (kilowatt hours) as a stakeholder in the protocol for mining high-value datasets like artificial intelligence or medical records data sets within IoT devices.
ICP is incentivizing users and miners alike because anyone with resources can mine for these resources which can then be traded amongst themselves on an open market.
How can you buy, sell, and hold ICP?
At launch ICPs were not traded on any exchanges. To purchase ICPs, you would need to contact a third party service that will allow you to trade your IOU-ICP tokens for the native token.
Now that the native token was launched, Binance, Coinbase, Crypto.com, Huboi and Kucoin allow traders to buy, sell and hold ICP.
Conclusion
ICP offers many benefits including the elimination of censorship, the ability to access content without being tracked, and the ability to have complete control over your money. ICP is a technology that is built on top of the internet and creates a new layer of the internet where users can interact with each other without an intermediary party.
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