ICP

Internet Computer

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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.

Project history

Conceptualised and built by the DFINITY Foundation, the Internet Computer extends the functionality of the public internet so that it can host back-end software – transforming it into a decentralised global compute platform, run by independent data centres around the world. By providing infrastructure supporting the creation of innovative open internet services, the Internet Computer seeks to reverse big tech’s growing data and user relationship monopolies, with the ambition of restoring the internet to its open, permissionless roots.

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.

The Internet Computer represents the third major innovation in blockchain after Bitcoin and Ethereum. It supports smart contract software that can run at web speed and serve web to users for the first time, and a network that can scale its compute capacity with user demand, greatly increasing the potential applications of public blockchain, and improving the reach of today’s blockchain ecosystem.

It represents the product of multi-year research and development efforts by the DFINITY Foundation from centres in Zurich, Palo Alto, San Francisco and Tokyo, and with additional remote teams in places such as Germany and the UK. The project has a singular purpose, and that is to expand the capabilities of public blockchain and the decentralised ecosystem using advanced computer science and cryptography, and to make blockchain the platform of choice upon which we can reimagine all systems and services.

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.

This information was prepared by Sygnum Bank AG. This information may contain forward looking statements and may be subject to change. The opinions expressed herein are those of Sygnum Bank AG, its affilitates, and partners at the time of writing. This is for informational purposes only and contains general material. It does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum Bank AG to purchase or sell assets or securities. It is not intended to be used as a general guide to investing, and it should be used for informational purposes only. When making an investment decision, you should either conduct your own research and analysis or seek advice from an expert to make a calculated decision. The information and analysis contained here have been compiled from sources believed to be reliable. However, Sygnum Bank AG makes no representation as to its reliability or completeness and disclaims all liability for losses arising from the use of this information.

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