Internet Computer (ICP)

Understand the essential crypto terminology related to the Interoperability Layer, which enables seamless communication between different blockchain networks and improves data exchange efficiency.

Internet Computer (ICP) is a blockchain network developed by the DFINITY Foundation. It aims to extend the functionality of the internet by allowing developers to build and host applications directly on the network, rather than relying on traditional servers or cloud services.ICP uses a unique consensus mechanism called “Chain Key Technology,” which enables fast transaction speeds and scalability. This allows applications to run efficiently in a decentralized manner.The platform includes smart contracts, which facilitate self-executing agreements without intermediaries. Developers can create software that runs on the Internet Computer, making it easier to build decentralized apps (dApps) and services.ICP tokens serve as the native cryptocurrency for transactions, governance, and network security. Users can participate in the decision-making process by staking their tokens, which gives them a voice in the future development of the platform.Overall, Internet Computer aims to reinvent how software is created and shared online, promoting an open internet powered by decentralized technology.

Latest Resources and Blogs