Internet Computer

The Internet Computer was developed by the Dfinity Foundation, a non-profit research lab. The Dfinity Foundation was founded by Dominic Williams, who serves as the project's Chief Scientist. However, the website does not provide additional details about the other founders of the project.

The Internet Computer blockchain runs on a network of special computing devices called "node machines" that are installed in independent data centers by independent "node providers". These node machines connect to each other using the Internet Computer Protocol (ICP), which is where the token gets its name. The network has a governance system called the Network Nervous System (NNS) that can "slash" or eject node machines that fail to produce enough blocks and keep up with the network. This is why the node machines need to be built to a specific standard. Internally, the Internet Computer network is composed of "subnet blockchains", where each new subnet adds additional capacity to the network to host more smart contracts, computation and data. However, these subnets are invisible to the hosted smart contracts and users.

The ICP token has three main utilities: It provides a source of "cycles" that are burned to power computation on the network. When ICP is converted to cycles, it is removed from circulation, creating deflationary pressure. ICP can be staked in the permissionless Network Nervous System DAO that governs the Internet Computer blockchain, creating voting neurons that generate rewards. ICP plays the role of a store of value, allowing users to invest in decentralization sales run by web3 services built on the Internet Computer.