Internet Computer

Internet Computer is a Layer 1 blockchain developed by the DFINITY Foundation that runs smart contracts and web applications directly on-chain using a network of independent data centers organized into subnets. Unlike most blockchains, computation and storage are handled by "canisters" (smart contracts that can serve web content and store data), removing the need for traditional cloud infrastructure. ICP is used for governance via neurons, staking, and for converting into cycles that pay for computation and storage on the network.