What is ICP token and how it’s used

Join Questn Giveaway to start your career on ICP Dfinity
https://app.questn.com/quest/891607643166552128

For support from Olympus sign in here:
https://internetcomputer.org/olympus

Follow socials.
Developer Twitter https://twitter.com/dfinitydev
Developer Discord https://discord.com/invite/CDfUBDnXS2
Youtube /dfinity
Medium https://medium.com/dfinity

The ICP (Internet Computer Protocol) token is the native utility token of the Internet Computer blockchain network. It has several key functions:

Governance: ICP token holders can stake their tokens in Neurons to participate in network governance, voting on proposals and earning rewards.

Cycle Conversion: ICP tokens can be converted into cycles, which power the canister smart contracts on the Internet Computer, serving as the network's computational and storage fuel.

Staking ICP: Token holders can stake their ICP tokens in Neurons to earn rewards and engage in network governance.

Transactions: ICP tokens are utilized for transactions within the Internet Computer network, including low-fee transfers and exchanging ICP for other assets.

Use Cases by User Group:

Developers: Use ICP tokens to convert into cycles for running canister smart contracts that power decentralized applications (dApps).

Community Members: Stake ICP tokens in neurons to engage in governance, submitting and voting on proposals.

Node Operators: Provide computing power to support dApps and receive rewards in ICP tokens.

Neuron Holders: Stake ICP tokens in neurons for governance participation and receive rewards in ICP tokens.

While ICP tokens are crucial for governance and other network functions, they are not directly used to pay for resources on the Internet Computer. Instead, they are converted into cycles, the units used for computation and storage.

Source:
What is ICP token:
https://internetcomputer.org/icp-tokens

How to mint token on ICP give a view of it.
https://medium.com/icp-league/how-to-mint-your-own-token-on-dfinity-discussion-on-token-standards-66b16d7d6f6b


ICP launches accelerator program
https://cryptorank.io/news/feed/43993-dfinity-foundation-launches-olympus-a-decentralized-global-acceleration-platform-on-the-internet-computer

Start your career on ICP Dfinity blockchain with help of regional hubs.
https://internetcomputer.org/community#hubs

#icp #icpdfinity #dfinity #icpcoin #icptoken #olympus #icphub
💰IF YOU NEED REVIEW: https://t.me/wendyredoff