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ICP

Internet Computer

ICP to USD
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Inflationary model: tokens minted as rewards for voting and validation with inflation to decline gradually from 10 percent to 5 percent; offset by tokens burnt as part of the transaction fee mechanism.
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Project history

The Internet Computer is a decentralized cloud blockchain that hosts full-stack applications, websites, and enterprise systems fully on-chain, where they benefit from the extraordinary security and resilience offered by blockchain technology.

A core goal of the Internet Computer is to evolve into a “self-writing cloud”, where AI builds sophisticated applications based on natural language prompts. Caffeine AI is the Internet Computer’s native tool for enabling application development via conversation with AI.

The ICP token is burned to power computation on the network as well as being used for staking and governance.

Internet Computer tokens (ICP) were distributed in May 2021 with the launch of the Internet Computer. Sygnum was the first bank to offer custody and banking services for ICP.

Internet Computer (ICP) staking

Sygnum offers an institutional-grade staking service for the Internet Computer protocol.

Staking is the process of actively participating in the validation of transactions on a Proof-of-Stake blockchain in exchange for staking rewards. Proof-of-Stake protocols employ significantly less energy than Proof-of-Work due to this alternative consensus mechanism.

Learn more about Sygnum’s secure, fully-integrated staking service and which tokens can be staked with this service here.

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