What Is an Internet Computer (ICP) and How to Buy It

What is Internet Computer?

The Internet Computer (ICP) is a decentralized cloud computing system that allows developers to build and run web applications, such as websites, apps, and games, directly on the blockchain.

How does it work;

The Internet Computer (ICP) is based on a technology called Chain Key Technology. This technology consists of many systems, such as consensus threshold relay, Internet identity (IID), network neural system (NNS) and so on.

Currently, Internet Computer has 48 data centers around the world. Every data center, there are thousands of nodes running to secure the network. Nodes then form a subnet when grouped together. Subnets are often thought of as block chains themselves and adopt a proof-of-stake (PoS) mechanism. Each token can be wagered, the more tokens that are wagered, the greater the reward for the token holder. The selected subnet node to validate the transaction will receive rewards in the form of the selected token, depending on the stake. This first technology is called Threshold Relay.

What makes it different from Ethereum?

The main difference is that Internet Computing applications run entirely “on-chain,” while Ethereum usually just stores transaction data. Ethereum is inefficient as an application platform because it is essentially a large blockchain. As a result, “off-chain” decentralized storage solutions and services are often used. However, according to Dutta, everything can be done on the Internet Computer subnet.

Critics have pointed out that Internet Computing is not as decentralized as Ethereum, as it consists of interconnected blockchains that rely on a large number of nodes to achieve blockchain consensus.

Using the “Kanisera” Smart Contract

Containers are special smart contracts hosted on the Internet Compute. One or more containers are used for deployment DApps on the Internet Computer. A canister smart contract is a collection of logic and memory pages written in Web Assembly. Users can interact with blockchain services without having to own tokens, as Canister smart contracts can stream web information directly to them in their browsers.

Any number of container smart contracts can eventually be hosted on the Internet Compute blockchain (ie, code & state). In addition, it can operate them all simultaneously with unlimited capacity on the chain. This means you can build scalable DApps.

Canister smart contracts are unstoppable and impenetrable. Imagine not having to worry about databases, caches, firewalls, CDNs, cloud providers, VPNs, DNS, or even users and passwords during development because Internet Compute removes these requirements.

How to buy the Internet Computer (ICP)

In order to buy the Internet Computer cryptocurrency you will need to open an account on an exchange that has the specific cryptocurrency. We will do the registration at Binance

1. Exchange registration Binance
2. Data Confirmation (kYC)
3. Depositing money at the exchange
4. Buy the ICP

Where can I buy the Internet Computer?

ICP has made a stunning 434% rise however my plan for the cryptocurrency is to correct to the $10 level and find strength to continue with a target of $19

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LIABILITY DISCLAIMER:

Cryptocurrency trading is VERY risky. Make sure you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your money

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