Internet Computer
About Internet Computer
The Internet Computer is a revolutionary blockchain technology that opens up possibilities for a wide range of web applications. This innovation bypasses the need for centralized IT infrastructure, giving way for an extensive decentralized online environment. The ICP tokens underpin the ecosystem, enabling diverse possibilities like Blockchain-based mail service, a decentralized social media platform, and more. It is also making significant strides into the metaverse and NFT space.
In the last hour, Internet Computer's price has seen a change of +1.29%, and over the past 24 hours, its price has moved by +9.76%. Over the previous week, Internet Computer's price has moved by +16.07%. The current price of Internet Computer is SAR 12.15, accompanied by a trading volume of 475.8M in the last day. Internet Computer's price is currently 99.57% below its all-time high of SAR 2,824.93, which remains the highest price Internet Computer has achieved since its launch. The circulating supply of Internet Computer stands at 556.9M, translating to a total market capitalization of 6.768B.
Market stats
Frequently asked questions
What is the Internet Computer Protocol?
The Internet Computer Protocol and its trading symbol (ICP) are a public blockchain aimed at expanding Internet services, with the project’s vision being to build a global, decentralized, and censorship-resistant computer network capable of running smart contracts and AI-powered decentralized applications directly on the blockchain. The protocol leverages decentralized technologies to operate entirely on the blockchain, not just as smart contracts, but as full-fledged web services, making it a truly decentralized alternative to cloud computing platforms such as Amazon Web Services or Microsoft Azure. By using its own protocol, projects can deploy anything from decentralized finance (DeFi) to social media without centralized intermediaries.
How does the Internet Computer Protocol work?
The protocol relies on a set of subnetworks operating in parallel to efficiently process as many transactions as possible. These subnetworks communicate with each other using Chain Key technology, which accelerates smart contract updates. Applications run within a technology called “Canisters” that store data and run services directly over the internet instead of relying on centralized servers. To cover the costs of computing, storage, and operations, ICP tokens are converted into operational units that are consumed during use and then burned, making the token an essential part of the protocol for running applications and ensuring the network’s sustainability.
Is ICP available on Rain?
We are constantly working to expand our list of available assets. Although we cannot provide a specific date for the listing of the Internet Computer Protocol (ICP) at this time, you can follow the latest updates through our official social media channels, such as X.
Rain is licensed by the Central Bank of Bahrain (CBB) and the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA). This provides customers with a regulatory framework for trading digital assets in the region.
What are the risks and considerations
Before purchasing ICP, it is important to understand the associated risks:
• Liquidity risk: liquidity may affect the coin’s value, which can fluctuate daily.
• Governance and regulatory risks: the value of the token may be affected by legislation and regulation.
• Security risks: you must protect your account with a strong password and two-factor authentication, and choose an appropriate storage method after researching it thoroughly.
• Concentration risks: the token relies heavily on the platform, which undermines its decentralized nature.
• Technical risks: the complexity of the technology may affect its adoption by developers and communities.
You should not purchase ICP based solely on price expectations. Instead, you should study the whitepaper, the currency’s use cases, the project, and your risk tolerance before making any decision.
What are “Cycles” in the protocol?
It is a mechanism similar to fuel, where ICP tokens are converted into Cycles to power decentralized applications and smart contracts.
Is the ICP supply limited?
There is no maximum supply of the token, new tokens may be issued as rewards, while token burning and consumption contribute to the continuous reduction and recycling of the supply.
Can services or websites be hosted on the protocol?
Yes, the protocol is designed to host applications and websites directly on the blockchain without the need for traditional servers.
What is the purpose of Internet Computer (ICP)?
Internet Computer aims to revolutionize the traditional web by enabling a new way for smart contracts to be implemented, creating a decentralized, open-source web that runs at web speed. It provides secure and scalable compute capacity to enable development, deployment, and hosting of websites, software, and smart contracts without the need for traditional IT infrastructure like servers.
How does Internet Computer's technology differentiate itself from other cryptocurrencies?
Internet Computer stands out with its technology that runs on a scalable decentralized blockchain network while providing compatibility with existing software and systems. Its unique design allows it to host smart contracts that do not rely on centralized servers, making decentralized web services more efficient, secure, and easily accessible.
What benefits does Internet Computer offer developers and users?
For developers, Internet Computer provides an open and accessible platform to build and deploy software without relying on traditional infrastructure. It offers scalability, efficient resource allocation, and security through cryptography. Users benefit from fast, secure, and decentralized web services, enjoying greater privacy and control over their data and interactions online.
What is a Internet Computer wallet?
A Internet Computer wallet is where you can securely store Internet Computer. A wallet helps you maintain ownership of your asset as well as enable you to trade, send or receive crypto-assets.
What is a Internet Computer address?
A Internet Computer address is a string of unique characters that is tied to your Internet Computer wallet. The address functions just like a bank account number and it is what you use in order to send Internet Computer from your wallet, or to receive Internet Computer to your wallet.
What are the most popular cryptocurrencies besides Internet Computer?
Besides Internet Computer, you can find over 150 assets available on Rain for you to start trading such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDC, Ripple (XRP), DOGE, Tether (USDT), Chainlink (LINK) or BCH. You can explore these options by going to the homepage of your account and scrolling through the available assets. When you are ready to start trading, simply click on the asset of your choice and click Trade.
What will the price of Internet Computer be in next 5 years?
Price predictions for Internet Computer over the next five years are highly speculative and depend on crypto market conditions, adoption, and broader crypto trends. We encourage you to do your own research and make informed decisions.
Is trading Internet Computer taxable?
Trading Internet Computer may be considered taxable in some countries with varying tax rules, so we recommend checking with your local tax authority or financial advisor for specific guidance.
What is Internet Computer's ATH?
Internet Computer’s all-time high (ATH) was SAR 2,824.93 on 10 May 2021. This represents the highest recorded market price of the asset to date.
When will Internet Computer be available on Rain?
We’re always working to expand our listed assets. While we can not provide a specific listing date for Internet Computer just yet, stay tuned for updates by following us on our official social channels like X.
What is the market cap of Internet Computer?
With a market capitalization of 6.768B, Internet Computer is ranked 48 among other crypto assets.
What is the all-time high of Internet Computer?
The highest valuation of Internet Computer since its launch was at SAR 2,824.93, marking its all-time high.
What is the 24-hour trading volume of Internet Computer?
The trading activity of Internet Computer over the last 24 hours was at 475.8M, highlighting its liquidity in the market.
How many Internet Computer are there in circulation?
There are approximately 556.9M units of Internet Computer currently in circulation, affecting its market dynamics.
What is the relative popularity of Internet Computer?
Internet Computer market cap is around 6.768B.
When was Internet Computer created?
Internet Computer was introduced on 10 May 2021.
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