What is ICP?

ICP is the native token of the Internet Computer network. Internet Computer is a smart contract public network that provides a way to create full stack decentralised applications. This means that every part of the protocol layer from web hosting to applications will be decentralised. Allowing for the creation of tokenised social media services and decentralised financial services. Internet Computer achieves this through a series of data centres spread out across the world, with each data centre containing multiple nodes. Nodes from multiple data centres are grouped together to form subnets. Each subnet forms a Proof-of-Stake blockchain. DApps can be hosted on subnets, and due to Internet Computer’s unique architecture, it allows transactions and applications to run incredibly fast. ICP is used for governance, as well as paying fees to run applications hosted on Internet Computer and to reward governance votes and data centres for providing the computation required to sustain the network.