What Is Internet Computer?

Internet Computer Protocol (ICP) is a blockchain platform created by the DFINITY Foundation, launched in May 2021 after years of research and development. Founded by Dominic Williams, DFINITY's mission is to create a "World Computer" — a decentralized cloud computing platform capable of hosting entire web applications, services, and enterprise systems on-chain without relying on traditional cloud providers like AWS or Google Cloud.

• Overview - Table of Contents
• What Is Internet Computer?
• Getting Started With Internet Computer
• How To Get An Internet Computer Wallet?
• Internet Computer Resources
• How To Buy ICP?
• Latest Internet Computer News

Unlike most blockchains that focus primarily on financial transactions and simple smart contracts, ICP is designed to run full-stack web applications directly on the blockchain. Smart contracts on ICP are called "canisters" and can serve web content directly to users' browsers, store data, and perform complex computations. This means entire websites, social media platforms, and enterprise applications can be built and hosted on the Internet Computer without any traditional IT infrastructure.

ICP uses a novel consensus mechanism called Chain Key Technology, which enables the network to finalize transactions in approximately one to two seconds. The technology includes threshold cryptography that allows the network to operate with a single public key, enabling efficient verification and seamless subnet communication. The network is organized into subnets, each consisting of multiple node machines running in independent data centers around the world.

The ICP token serves multiple purposes within the ecosystem. It can be staked in the Network Nervous System (NNS), which is the DAO that governs the entire network. Staked ICP is locked in "neurons" that can vote on proposals affecting the network's operation and development. ICP is also converted into "cycles," the computational fuel that powers canister smart contracts, similar to gas on Ethereum but with a stable cost model.

Notable applications built on ICP include OpenChat (decentralized messaging), DSCVR (decentralized social media), and various DeFi protocols. The platform supports smart contracts written in Motoko (DFINITY's purpose-built language), Rust, and other languages. ICP also has native Bitcoin and Ethereum integrations, allowing canisters to directly interact with these networks.

Getting Started With Internet Computer

Getting started with Internet Computer:

1. Step 1: Create an Internet Identity — ICP's decentralized authentication system that works with biometrics or security keys.
2. Step 2: Set up a wallet using the NNS dApp or a third-party wallet like Plug.
3. Step 3: Acquire ICP tokens from a cryptocurrency exchange.
4. Step 4: Explore the ecosystem — try decentralized applications, stake in the NNS, or start building with the DFINITY SDK.

How to Get an Internet Computer Wallet?

NNS Dapp

The NNS (Network Nervous System) dApp is the official interface for managing ICP tokens. It allows you to send and receive ICP, stake tokens in neurons for governance participation, and manage your holdings. Access it through Internet Identity authentication.

Plug Wallet

Plug is a browser extension wallet for the Internet Computer. It supports ICP and all ICRC tokens, allows interaction with ICP dApps, and provides a familiar wallet experience similar to MetaMask.

Hardware Wallets

Ledger hardware wallets support ICP. You can manage ICP through the NNS dApp while keeping your keys secured on the Ledger device.

Internet Computer Resources

• Internet Computer Official Website
• DFINITY GitHub
• Internet Computer Documentation
• ICP Dashboard
• DFINITY Blog
• DFINITY Twitter
• DFINITY Reddit
• ICP Discord

How to Buy ICP?

ICP is available on most major cryptocurrency exchanges:

Centralized Exchanges

ICP can be purchased on Binance, Coinbase, Kraken, KuCoin, and other exchanges. Trading pairs include ICP/USDT, ICP/BTC, and fiat pairs on select platforms.

Decentralized Exchanges

Within the ICP ecosystem, ICPSwap and Sonic are decentralized exchanges where you can trade ICRC tokens. ICP can also be found on Ethereum DEXs as a wrapped token.

Latest Internet Computer News

The Internet Computer continues to expand its capabilities with native Bitcoin and Ethereum integrations, growing adoption of chain-key cryptography for cross-chain operations, and increasing numbers of fully on-chain applications. The platform is also pursuing enterprise adoption and exploring AI computation on-chain.