What is the Internet Computer ( ICP)?

Internet Computer is a decentralized cloud platform initiated by Dfinity to eliminate the centralized data players in the market.

It allows users to host websites and create independent data centres worldwide. It enables complete decentralization by facilitating the building of online services or systems without the need for traditional centralized cloud computing services.

ICP is the governance token of Internet Computers, giving its holders the authority to make significant decisions regarding the platform's future. It is also used to obtain the services of data centres and pay for the transactions as fees.

How does the Internet Computer ( ICP) work?

ICP is built to replace the existing centralized network that big IT firms govern. These firms can put censorship on various apps, and their single failure point can create significant risk factors for businesses. Internet Computer provides the "World Computer" functionality and solves this problem by giving censorship-resistant hosting to Web3 dapps, social media, NFTs, DeFi, games, and metaverse for billions of users.

With its groundbreaking chain key cryptography running on smart contracts, this methodology creates a secure and scalable network. It ensures the secure execution of the transactions with the coordination of DLT, canisters and consensus algorithms.

The Canisters encrypt the transaction and other information that can only be accessed by authorized users. These canisters are encrypted by the chain key cryptography algorithm that prevents anonymous access to the information. These canisters are further hosted on subnets, the independent blockchains that run on nodes deployed in universally distributed data centres. The subnets can host thousands of canisters enclosing large amounts of information, and ICP can host millions of these subnets.

Every node of these subnets stores the data. It executes the code of each canister hosted on the subnet so that the intelligent contacts continue executing even if some nodes fail. This way, ICP achieves Fault tolerance while ensuring the consensus mechanism's high throughput and low latency.

ICP's multi-subnet architecture further enables smart contracts to communicate with each other seamlessly through asynchronous messages. The asynchronous messages do not block the messages; instead, they respond when they arrive. This approach of inter-communication between the canisters allows for scaling out ICP by adding more subnets.

Apart from decentralized working, ICP also focuses on decentralized governance, which is maintained through a tokenized DAO, Network Nervous System (NNS). The NNS instructs the nodes on how to manage the network structure. It establishes communication with the nodes and instructs them to join, leave or form new subnets such that the chain keys remain unchanged.

The ICP blockchain supports 250K queries per second, 1-second transaction finality, and very low storage costs of a maximum of $0.46 per GB per month. This allows developers to go completely on-chain with their Web3 apps while serving the same high-quality, user-friendly experience as today's Web 2 markets.

How to Buy Internet Computer ( ICP) in India?

There are many platforms where you can invest and trade ICP in India.

One such platform is Flitpay. To buy ICP in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy ICP and execute the ICP purchase.

You can instantly convert your INR to ICP and ICP to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What do I do after buying the Internet Computer ( ICP)?

Internet Computer (ICP) can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold the ICP crypto till it reaches a high price, and then you can sell it through the FLITPAY Quick Buy/Sell order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

FAQs

What is the Internet Computer ( ICP)?

ICP is a layer-1 protocol developed to create a one-of-a-kind blockchain network to transform the public internet into a censor-resistant global computing system. ICP is its token launched as a utility token to allow users to govern this Internet computer blockchain network.

What is the ICP crypto price in India?

Check out the current INR price of ICP crypto in India on Flitpay.

Which is the best platform to buy Internet Computer ( ICP) crypto in India?

Flitpay is the best cryptocurrency exchange in India to buy Internet Computer (ICP) or your favorite cryptocurrencies. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the benefits of ICP crypto?

ICP token is much more than a form of digital currency. Its set of protocols offers a decentralized alternative to corporate cloud services for making a censor-resistant global computing system.

Is it safe to invest in Internet Computers ( ICP) in India?

Yes, investing and trading in Internet Computer is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying ICP crypto. It offers real-time prices and advanced investing features.