When was ICP coin issued? Learn about the origin of ICP coin in one article

Launched on May 10, 2021, ICP coins are the native tokens of the DFINITY ecosystem and serve as the backbone of the distributed computing platform, facilitating governance, transaction fees, and rewards through staking.

Oct 26, 2024 at 02:58 pm

ICP Coin Origin: Tracing the History of the DFINITY Ecosystem

The Internet Computer Protocol (ICP) coin is the native token of the DFINITY blockchain, a groundbreaking distributed computing platform that aims to revolutionize the internet. Here's a comprehensive guide to the origin of ICP coin:

1. Founding of DFINITY (2016)

In October 2016, Dominic Williams founded DFINITY, a Swiss-based non-profit organization dedicated to developing the Internet Computer. The company's goal was to create a blockchain-based supercomputer that would eliminate the need for centralized servers and enable the development of decentralized applications.

2. ICP Coin ICO (May 2018)

In May 2018, DFINITY launched the initial coin offering (ICO) for ICP coins. The ICO raised a total of $102.5 million, making it one of the largest ICOs at the time.

3. Canister System and Rollout Strategy (2018-2021)

Following the ICO, DFINITY spent several years developing the core components of the Internet Computer, including the Canister system, which provides secure and flexible smart contract environments for building decentralized applications.

In August 2021, DFINITY announced the launch of the Genesis Mainnet for the Internet Computer, making it available for developers and users.

4. ICP Coin Launch (May 10, 2021)

Coinciding with the launch of the Genesis Mainnet, ICP coins were officially made available for trading on cryptocurrency exchanges on May 10, 2021.

5. Network Governance and Tokenomics

ICP coins serve multiple purposes within the DFINITY ecosystem:

Governance: ICP holders can participate in the governance of the Internet Computer by voting on proposals related to the network's development and operation.
Transaction Fees: ICP coins are used to pay the transaction fees associated with using decentralized applications on the Internet Computer.
Staking and Rewards: ICP holders can stake their tokens to support the network and earn rewards in the form of additional ICP coins.

Conclusion

The ICP coin, launched on May 10, 2021, is the cornerstone of the DFINITY ecosystem, which aims to redefine the internet as a more open, decentralized, and user-controlled network. As the network and its applications continue to grow, ICP coins are expected to play a crucial role in powering the future of decentralized computing.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

MUBARAK

$0.1164

50.76%

Trade Now
BNX

$1.7658

41.50%

Trade Now
CAKE

$2.5771

41.06%

Trade Now
MERL

$0.1346

25.17%

Trade Now
CARV

$0.3693

23.02%

Trade Now
CHEEMS

$0.0...01179

18.56%

Trade Now

Latest Crypto News

Solana (SOL) Cup-and-Handle Pattern Hints at Breakout Toward $3,800
2025-03-17 19:10:57
IntelMarkets (INTL) Price Could See Growth Following the Potential Approval of an XRP ETF Before May
2025-03-17 19:10:57
Cardano (ADA) whales are making better choices as they shift a portion of their holdings into Mutuum Finance (MUTM)
2025-03-17 19:10:57
The Mustard Seed: A Thesis That Bitcoin Will Reach $10M per Coin by 2035
2025-03-17 19:10:57
The U.S. pro-crypto pivot under President Donald Trump may come at a hefty price, one European Central Bank Governing Council member has warned.
2025-03-17 19:10:57
21Shares to Liquidate Its Bitcoin and Ethereum Futures-Tracking ETFs
2025-03-17 19:10:57

Related knowledge

What is Ethereum’s Slashing mechanism and how to punish malicious behavior?

Feb 20,2025 at 03:08am

Key PointsOverview of slashingDifferent types of slashing in EthereumIncentives and consequences of slashingIdentifying and reporting slashed validatorsOngoing discussions and potential improvementsEthereum's Slashing Mechanism: Punishing Malicious BehaviorEthereum's slashing mechanism is an essential tool for ensuring network security and punishing mal...

What is the verifier node of Ethereum and how to become a verifier?

Feb 19,2025 at 06:00pm

The Verifier Node of Ethereum: A Comprehensive GuideKey Points:What is a Verifier Node?How to Become a Verifier NodeResponsibilities and Rewards of a Verifier NodeMinimum Requirements for Becoming a Verifier NodePotential Difficulties in Running a Verifier Node1. What is a Verifier Node?A Verifier Node is an independent entity on the Ethereum network th...

What is Ethereum’s staking, and how to participate and earn money?

Feb 19,2025 at 04:37pm

Key Points:Understanding Ethereum's Staking MechanismSteps to Participate in StakingBenefits and Rewards of StakingSecurity and Risk ConsiderationsTechnical Requirements and Hardware OptionsPotential Challenges and Troubleshooting TipsFAQs on Ethereum StakingWhat is Ethereum's Staking?Proof-of-Stake (PoS) is a consensus mechanism used in blockchain netw...

What is Ethereum’s DAO (Decentralized Autonomous Organization) and how does it work?

Feb 20,2025 at 03:12am

Key PointsDefinition and Structure of a DAOGovernance and Decision-Making in DAOsBenefits and Use Cases of DAOsChallenges and Limitations of DAOsWhat is Ethereum's DAO (Decentralized Autonomous Organization) and How Does It Work?Definition and Structure of a DAOA Decentralized Autonomous Organization (DAO) is an innovative governance and management fram...

What is Ethereum's multi-signature wallet and how to improve security?

Feb 20,2025 at 02:18pm

Key Points:Understanding the Concept of a Multi-Signature WalletBenefits and Drawbacks of Multisig WalletsRequirements for Setting Up a Multisig WalletStep-by-Step Guide to Generating a Multisig WalletImplementing Strategies for Enhanced Security1. Understanding the Concept of a Multi-Signature WalletA multi-signature (multisig) wallet in the Ethereum e...

What is Ethereum's oracle and how to provide data for smart contracts?

Feb 21,2025 at 01:30am

Key Points:Understanding the concept of oracles in EthereumExploring different types of oraclesDetailed guide on how to provide data for smart contractsAddressing potential challenges and considerationsWhat is Ethereum's Oracle?Oracles are crucial components in the Ethereum ecosystem, enabling smart contracts to access real-world data and off-chain even...