Coinbase Pro to List ICP Token From Dfinity’s Internet Computer Network

The cryptocurrency exchange Coinbase Pro announced it will list ICP — the governance token of the decentralized ‘Internet Computer’ network of the Dfinity blockchain project, Network Nervous System (NNS). The listing will take place after ICP’s launch next week.

Once Internet Computer (ICP) governance tokens become generally available, transfer ICP into your Coinbase Pro account ahead of trading. We will publish tweets from our Coinbase Pro Twitter account as a date becomes available. https://t.co/4leAIn9KtN

— Coinbase Pro (@CoinbasePro) May 4, 2021

With ICP, users will be able to generate “neurons” and participate in governance by voting on new proposals.

The tokens are also planned to be used to power dapps: ICP will be burned to start new cycles of software operation. A stable cost of cycles would enable their use as stablecoins.

NNS (Network Nervous System) is an “algorithmic governance system that includes independent data centers”.

Dfinity aims to become the first blockchain that runs at internet speed with unlimited throughput, while remaining decentralized, secure and scalable.

In the Internet Computer network, developers can build websites, corporate IT systems, cross-industry protocols, scalable open web services, DeFi and NFTs, deploying code on the internet.

In Dfinity they aim to disrupt the monopoly of centralized IT platform giants by creating decentralized alternatives to Uber, eBay, Facebook and others.

In February 2018, Polychain Capital and Andreessen Horowitz invested $61 million in Dfinity. In the same year, the project conducted a private sale of tokens to accredited investors, raising a further $102 million.

In June 2020, Dfinity opened its protocol to external developers.

Earlier, experts drew attention to the so-called “Coinbase effect” — when digital assets rose sharply after a listing announcement. Some say the impact of such Coinbase announcements is greatly exaggerated.

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