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@odunerd

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The ICP token (Internet Computer Protocol token) is the native utility token of the Internet Computer blockchain network. It serves several key purposes: Governance: ICP can be staked in "neurons" to participate in network governance by voting on proposals. This allows token holders to help shape the future of the protocol and earn voting rewards for their participation Understanding the ICP token. Powering Computation: ICP can be converted into "cycles," which are used as fuel to pay for computation, storage, and bandwidth consumed by canister smart contracts running on the Internet Computer. This is known as the reverse gas model, where developers prepay for resources, enabling users to interact with dapps without needing tokens themselves Tokens & cycles. Rewarding Participants: The network mints new ICP to reward node providers who operate the infrastructure and to provide voting rewards for governance participants ICP tokens.
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