ICP Internet Computer Protocol Explained in 60 Seconds! 🚀 #bitcoin #icp #investment
Welcome to Kryptonite! Today, let’s quickly break down the Internet Computer, or ICP.
The Internet Computer is a revolutionary blockchain created by the DFINITY Foundation. Unlike traditional blockchains, ICP aims to decentralize the very infrastructure of the internet, allowing developers to build web-based services, apps, and websites without relying on centralized cloud providers like Amazon or Google.
Powered by the Internet Computer Protocol, ICP allows applications to run at web speed and scale infinitely. It uses "canisters," a more powerful version of smart contracts, to run apps seamlessly across a global network of independent data centers.
The ICP token serves three main purposes: it allows holders to participate in governance via the Network Nervous System, acts as fuel for running applications by converting into "cycles," and rewards data centers that host the decentralized network.
With its potential to reshape how the internet operates, ICP is a project to watch in the crypto world.
