The ICP token is a network coin issued on its own blockchain. Its main functions are:
- Staked on the network system to generate neurons. The latter are necessary for voting in order to develop the network and distribute corresponding rewards.
- Participants' rewards. The network creates new tokens to reward network participants for taking part in governance, node operations, and other activities.
- Convert to cycles that are used to pay for computing power, during which they burn out. ICP is converted into cycles at a floating rate. Users of the network can always create new cycles with a relatively constant real cost, so the cost of "fuel" is predictable.
Coin issuance is unlimited. However, only 174 million tokens are on the market.
The blockchain project was created in October 2016. It works on a network of nodes in independent data centers situated around the world. It works with Internet speed and has unlimited capacity.
The available methods of obtaining coins are: buying them through exchanges, earning them as a reward for governing the network, as remuneration as a node provider, or being awarded a grant through the Internet Computer Association or the DFINITY Foundation.
It is possible to trade the ICP/USD pair on LiteFinance via a CFD. As you trade ICP against the US dollar, you should check the current trend of the USD.
The US dollar is the domestic currency of the United States of America. It is used in most international trade transactions. In several countries, the United States dollar is a legal tender. The US dollar is a safe-haven currency that appreciates in times of uncertainty caused by global political or economic issues. The Fed's monetary policy and the country's economic data, including inflation rate, economic growth, and jobs figures, are other factors that impact the USD’s rate.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.
