Exchange Internet Computer

ICP (Internet Computer Protocol) is a cryptocurrency and blockchain project that aims to create a decentralized network for running smart contracts and building dApps (decentralized applications). The project was developed by the DFINITY Foundation, a non-profit organization based in Zurich, Switzerland.

The DFINITY Foundation is dedicated to advancing the development of decentralized technologies. The foundation was founded in 2016 by Dominic Williams, a computer scientist and entrepreneur, with the goal of creating a new type of blockchain platform that could provide a more scalable and secure infrastructure for running decentralized applications. Internet Computer Protocol (ICP), was launched in May 2021 after several years of development. 

ICP is designed to be a third-generation blockchain, offering high scalability, interoperability, and security. Its architecture is based on a unique consensus mechanism called "Chain Key Technology," which allows for fast and secure transaction processing. The project also employs a novel approach to smart contract execution, which is intended to make it easier to develop and deploy complex dApps on the network.

The development of ICP was led by the DFINITY team, which includes a group of experienced developers and researchers in the fields of cryptography, computer science, and economics. The project has received funding from a number of high-profile investors, including Andreessen Horowitz, Polychain Capital, and Multicoin Capital, among others.

One of the key features of the ICP platform is its unique consensus mechanism, called the "Chain Key Technology." This mechanism allows the network to process transactions in parallel, which greatly improves its scalability and speed. It also employs a "probabilistic slot leader" algorithm that selects nodes to process transactions in a random and fair manner, making it more resistant to attacks.

Another important aspect of the ICP platform is its use of WebAssembly (Wasm), a binary instruction format that allows developers to write smart contracts and dApps in a variety of programming languages. This makes it easier for developers to build and deploy complex applications on the network, as they are not limited to a specific programming language.

In addition, ICP supports interoperability with other blockchain networks, such as Ethereum and Bitcoin, allowing users to transfer assets and data across different blockchain ecosystems. This makes it easier for developers to build cross-chain dApps and enables new use cases for decentralized finance (DeFi) and other applications.

The ICP ecosystem is designed to provide a secure, scalable, and efficient platform for developers to build and deploy dApps, smart contracts, and other decentralized solutions. Some of the key components of the ICP ecosystem include:

1. Internet Computer Protocol: The Internet Computer Protocol is the core technology that underpins the ICP ecosystem. It is a decentralized network that enables developers to build and deploy dApps and smart contracts without relying on centralized infrastructure.
2. Canister: Canisters are the building blocks of the ICP ecosystem. They are essentially software modules that can run on the Internet Computer and provide functionality for dApps and other services.
3. Motoko: Motoko is a programming language that is specifically designed for building dApps and smart contracts on the Internet Computer. It is a high-level language that simplifies the development process and enables developers to write more secure and efficient code.
4. Internet Identity: Internet Identity is a decentralized identity system that allows users to authenticate themselves on the Internet Computer without relying on centralized authorities. It is designed to be simple and user-friendly, while also providing a high level of security and privacy.
5. DApps and Services: The ICP ecosystem includes a growing number of dApps and services that are built on top of the Internet Computer Protocol. These range from decentralized social networks and marketplaces to financial applications and games.

The ICP token is used to power the network and pay for transaction fees and other services on the platform. Users can also stake their ICP tokens to participate in the network's consensus mechanism and earn rewards for securing the network. The asset was initially distributed through a token sale in May 2021, which raised over $100 million in just a few hours. As of May 2023, the ICP token has a market capitalization of over $8 billion and is listed on several major cryptocurrency exchanges.

As of May 2023, the circulating supply of ICP tokens is around 165 million tokens. 

Average Fees on the ICP Network 

The fees on the Internet Computer Protocol (ICP) network are dynamic and vary based on network usage and demand. The fees are paid in ICP tokens and are used to compensate nodes for processing transactions and running smart contracts on the network.

According to the DFINITY Foundation, the ICP network aims to provide low and predictable fees for users, with the goal of making it more accessible and affordable for developers and end-users. The fees are calculated based on the resources required to execute a transaction or smart contract, such as the amount of computation, storage, and bandwidth required.

As of May 2023, the average transaction fee on the ICP network is around 0.01 ICP, according to data from Blockchair. 

ICP Token Wallets 

ICP tokens can be held in a variety of wallets that support the Internet Computer Protocol, including Ledger Nano S/X, Atomic Wallet, Exodus, Nami Wallet, Internet Computer Wallet, Math Wallet, MyEtherWallet, Trust Wallet, Trezor, Coinbase, etc.