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Internet Computer (ICP) is a cryptocurrency and blockchain project developed by the DFINITY Foundation, aiming to revolutionize the internet by creating a decentralized, scalable computing platform. Launched in May 2021, ICP enables smart contracts to run at web speed, with the goal of eliminating traditional cloud services like Amazon Web Services and Google Cloud. This vision intends to make the internet more open, secure, and user-centric by enabling developers to build decentralized applications (dApps) directly on the blockchain.

ICP operates on a unique consensus mechanism known as "Threshold Relay," which improves scalability by enabling rapid transaction finality and reducing network latency. It aims to provide high throughput for decentralized applications, making them as fast and accessible as traditional cloud applications. The network's native token, ICP, is used for governance, staking, and paying transaction fees on the network.

One key innovation is the Internet Computer’s "canister" smart contracts, which are more efficient than traditional Ethereum-style contracts, as they can store and manage data directly on the blockchain. By offering a decentralized alternative to traditional cloud infrastructure, ICP envisions a future where the internet is fully decentralized, giving control back to users and developers while maintaining security and scalability.