What is ICP coin? Introduction to the issue price, total amount and white paper of ICP coins

Internet Computer Protocol (ICP) is a native cryptocurrency that empowers developers to construct and deploy dApps directly on the internet, facilitating secure and decentralized web applications.

Oct 06, 2024 at 01:11 am

What is ICP Coin?

Internet Computer Protocol (ICP) is the native cryptocurrency that powers the Internet Computer network, a blockchain platform that allows developers to build and deploy decentralized applications (dApps) on the internet. It is designed to enable developers to create and manage web pages, websites, and decentralized applications (dApps) securely and directly on the internet.

Issue Price, Total Amount and White Paper of ICP Coins

1. Issue Price:

The initial coin offering (ICO) of ICP coins took place in May 2021, with a price of $430 per ICP token.

2. Total Amount:

The total supply of ICP coins is 469.2 million, as per the whitepaper.

3. White Paper:

The ICP white paper was published in February 2021. It outlines the technical specifications, architecture, and vision of the Internet Computer project. Here's a brief summary of key points from the whitepaper:

• Goals: The white paper describes ICP's primary goals as:

  - Extending the internet with a public blockchain to host software to improve speed, security, reliability, and openness. 
  - Enabling completely decentralized websites and applications and providing smart contract functionality. 
  

• Chain Key Technology: ICP uses a unique technology called "Chain Key" to create a single, secure, and permanent record of the internet's history.
• Decentralized Governance: The white paper emphasizes the role of ICP token holders in governing the Internet Computer network through a decentralized autonomous organization (DAO). ICP token holders have voting rights to propose and vote on decisions related to the network's development and operations.
• Economics and Token Distribution: The white paper outlines the economic model of the Internet Computer network, including tokenomics, inflation control, and revenue sharing mechanisms.