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Blockchain Dfinity

What is the ICP coin (Dfinity) used for?

How the Internet Computer uses the ICP coin. The internet Computer is hoping to be a high-speed scalable proof of stake blockchain.

ICP coin

ICP Is the native token of the Internet Computer blockchain (formerly Dfinity).

ICP coin is used for

  • Governance (Incentivize voting)
  • Transaction fees
  • Staking for proof of stake

How could value accrue to the ICP coin?

Locking

  • To vote and create proposals

What is the Internet computer?

The internet Computer is hoping to be a high-speed scalable proof of stake blockchain.

How the protocol works

Applications create smart contracts called canisters. These canisters are deployed on different Subnets.
The ICP protocol as the baselayer of all subnets.

An approach similar to Polkadot.

Network

A certain amount of the networks ICP can be converted to cycles at any one time. Cycles are used to pay for computation.

Nodes are rewarded for participating in consensus.

Governance

A users locks token in a what’s called a Neuron in the Network Nervous System (governance module).

The users can

  • Create propsals.
  • Vote on proposals
  • Is rewarded with tokens for locking.
  • Longer lock increases rewards.

Rewards are paid with inflation.

ICP Tokenomics

Circulating supply: 135,173,634

Total supply: 469,213,710

Inflation: 10% (reduced to 5% over 8 years)

Presale: $4.5 (Might be incorrect)

Distribution (Might be incorrect)

  • 24.72% – Seed investors
  • 4.75% Presale
  • 1,25% Airdrop
  • 70% VCs, Team, Foundation

Docs

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Dfinity token price

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