Introduction
Internet Computer or ICP is a set of protocols that enables independent data centers worldwide to come together and provide a decentralized alternative to the currently available centralized internet cloud providers. The ICP token is used for governance, a way of voting on the future of the network by holders, and to pay fees when making transactions.
Dominic Williams founded Internet Computer in 2016, but it has been active in the blockchain cryptography space since 2014. It started operations as DFINITY, with the management and development of the Internet Computer coming from the DFINITY Foundation.
What is ICP.?
Internet Computer Protocol, is a groundbreaking blockchain-based platform to revolutionize the internet. Unlike traditional web systems, It focuses on decentralization, allowing developers to build and deploy applications directly on the blockchain. This functions similarly to a public cloud, offering a secure and scalable environment for creating and running decentralized apps.
By utilizing blockchain technology, it aims to transform the way we use the internet, providing a safer, more open, and free alternative to conventional web systems. The platform’s core mission is to enhance user control over their data and online activities, promoting a more transparent and inclusive digital landscape.
With ICP, individuals and organizations can actively contribute to shaping the future of the web, ensuring that the internet evolves into a space where users have greater influence and protection.
How it works
The Internet Computer (ICP) operates as a decentralized World Computer, hosting and executing smart contracts known as canisters. Each canister includes WebAssembly bytecode and its own storage, functioning on independent blockchains called subnets. This multi-subnet structure enhances scalability beyond traditional sharding.
ICP’s architecture comprises four layers: Peer-to-Peer (P2P) communication, consensus for message ordering, message routing, and execution. The P2P layer ensures node communication, the consensus layer maintains message order, the routing layer manages cross-subnet communication, and the execution layer processes canister code using WebAssembly.
Chain-key cryptography supports ICP’s scalability and interaction with other blockchains, including Bitcoin. Governance is managed by the Network Nervous System (NNS), a decentralized DAO responsible for protocol upgrades and network management. This design allows the Internet Computer to scale infinitely while preserving security and decentralization.
ICP: The Native Token.
ICP token is the main cryptocurrency for the Internet Computer Protocol, acting as the fuel that powers the network. It pays node operators, processes transactions, and supports app development on the platform.
By staking this coin, users can earn rewards and contribute to the network’s security and stability. The token’s design includes burning a portion of it with each transaction, helping to maintain its value and rarity.
ICP plays a crucial role in the Internet Computer Protocol’s mission to create a decentralized, fast, and secure Internet, transforming how we access and use online services while empowering both users and developers.
How to Bridge to ICP From Ethereum Network.
Bridging assets from Ethereum to ICP using RocketX is pretty straightforward. Be it trading, staking, or using dApps, this key step is needed to get your assets going onto the network. Here’s how:
- Connect Your Wallet: Open RocketX Exchange and Begin by linking your Ethereum wallet, such as MetaMask or Trust Wallet, to RocketX.
- Choose Networks and Assets: Select Ethereum as the source chain and specify ETH as the token. Following this, select the Internet protocol as the destination chain and choose the ICP token.
- Enter Amount: Please provide the specific amount of Ethereum that you would like to transfer.
- Enter Wallet Address: provide your ICP wallet address to receive the tokens. Ensure that you verify the address to prevent any mistakes.
- Confirm & Execute: Review the complete transaction information, including any applicable network fees, and initiate the transfer by clicking on the cross-chain swap option. Finally, confirm the transaction in your wallet.
- Check ICP Wallet: Once this process has been finalized, your tokens will be displayed in your wallet, and available for engagement in trading, staking, or other functions within the ecosystem.
Best wallets that support ICP.
NNS (Network Nervous System) Wallet: This is the official wallet for the Internet Computer blockchain. It allows you to manage your ICP tokens and interact with various dApps built on the network.
Plug Wallet: A popular browser extension wallet that supports ICP. It’s designed for easy interaction with decentralized applications on the Internet Computer.
Stoic Wallet: This is a user-friendly wallet that supports ICP and provides a simple interface for managing your tokens and interacting with dApps.
The Future & Price Prediction of ICP.
The Internet Computer Protocol (ICP) is growing fast and has a bright future. It focuses on making the internet more decentralized. This means it can host many different kinds of decentralized apps. ICP crypto could change how we use the internet.
It is exciting for decentralized finance (DeFi). It offers a secure way to make and use financial products and services. This could help people around the world who don’t have access to traditional banks.
Expert predictions collated here give a well-rounded view of the potential price action for over the next few years.
Price Predictions 2025:
- Changelly Prediction: Ranges between $24.90 – $29.10
- Coincodex: Predicts a price between $10.69 – $50.33
Price Predictions 2030:
- Changelly Prediction: Ranges between $166.02 – $188.96
- Coincodex: Predicts a price between $26.74 – $43.36
This will provide a detailed understanding from industry experts of the potential future price movements of ICP in a multifaceted way, reflecting both the optimistic prospects and challenges lying ahead.
Conclusion.
The Internet Computer Protocol crypto, is changing the future of the internet. It’s a blockchain technology that makes the internet more decentralized and scalable. This means it can help build and host decentralized applications in new ways.
ICP crypto is still new, but its future looks bright. As more people and companies learn about it, we’ll see more innovative uses. This will change how we use the digital world.
If you’re into crypto or just starting, keep an eye on this crypto. It has the potential to make the internet faster, more secure, and more open.
