List of ICP coin issuance and listing trading platforms

ICP Coin, issued on May 10th, 2021 with a circulating supply of 469,213,822 ICP, was listed on trading platforms such as Binance and Huobi Global on May 11th, 2021.

Oct 11, 2024 at 06:47 pm

ICP Coin Issuance and Listing Trading Platforms

1. ICP Coin Issuance

• Date: May 10th, 2021
• Issuance Quantity: 469,213,822 ICP
• Bitcoin Network: Release 1.0 of the Bitcoin blockchain

2. Listing Trading Platforms

• Binance: Listed on May 11th, 2021
• Huobi Global: Listed on May 11th, 2021
• OKEx: Listed on May 11th, 2021
• Kraken: Listed on May 12th, 2021
• FTX: Listed on May 13th, 2021
• Gemini: Listed on May 14th, 2021

3. Key Features of ICP Coin

• Purpose: Powers the Internet Computer platform for decentralized web hosting, development, and computation.
• Token Standard: Internet Computer Protocol (ICP)
• Blockchain: The Bitcoin blockchain and the Internet Computer Network (ICN)
• Consensus Mechanism: Threshold Relay consensus algorithm
• Circulating Supply: 469,213,822 ICP
• Max Supply: Unlimited
• Inflation Rate: 10-15% annually

4. Role of ICP Coin

• Transaction Medium: Used for transactions and fees on the Internet Computer platform.
• Governance Token: Holders can vote on governance proposals that affect the Internet Computer network.
• Node Staking: Required for nodes wishing to contribute to the Internet Computer network.
• Deflationary Mechanism: Buyback and burn mechanism implemented to reduce circulating supply over time.

5. Advantages of ICP Coin

• Decentralized Computing: Enables decentralized hosting and computation of websites and applications.
• Scalable: High-performance network capable of handling millions of transactions per second.
• Open Source: Transparent and accessible to developers and users.
• Security: Built on the secure Bitcoin blockchain and implements advanced cryptography.
• Governance: Active community participation in decision-making through token voting.

6. Challenges Faced by ICP Coin

• Limited Adoption: Still in early stages of adoption, with limited use cases and ecosystem development.
• Price Volatility: High price fluctuations due to market sentiment and demand.
• Competition: Faces competition from other decentralized computing platforms and web hosting services.
• Scalability Issues: Network congestion and scalability concerns during periods of high demand.
• Regulatory Uncertainty: Unclear regulatory status in some jurisdictions, which can impact adoption and trading.

7. Conclusion
ICP Coin plays a crucial role in the Internet Computer ecosystem, providing a medium for transactions, node staking, and governance. While it offers unique advantages, it faces challenges related to adoption, volatility, and regulatory hurdles. The future trajectory of ICP Coin will depend on its ability to address these challenges and foster widespread adoption of decentralized computing and web hosting services.