Klever & Internet Computer collaborates to enable ICP Blockchain in Klever ecosystem

Klever Wallet enables ICP's blockchain as well as ICP Staking.

For months, Klever and Internet Computer have been collaborating to activate parameters inside the Klever app; those features are now available in Klever's new Update 4.6.0 for Android and iOS.

New Features include:

  • Internet Computer blockchain support

  • ICP Send/Receive

  • ICP Staking

With Klever Wallet, you can easily and securely receive and send using ICP. In addition, we have activated our Charge feature, perfect for selling products or billing for services. 

Klever staking of ICP is a sort after feature which has also been seamlessly integrated into the Klever App.

What Is Internet Computer (ICP)?

A blockchain that operates at web speed with boundless capacity, the Internet Computer is the world's first. Along with Bitcoin and Ethereum, it represents the third major innovation in blockchain - a blockchain computer that can scale computation and data, run smart contracts at web-speed, process and store data with efficiency, and provide powerful software frameworks for developers. 

Through this, the Internet Computer enables a complete reimagination of software development by enabling the creation of tokenized internet services, cross-industry platforms, decentralized financial systems, and even traditional enterprise applications and websites. 

Dominic Williams founded the project in October 2016, which attracted significant interest from the crypto community. Among the contributors to DFINITY were Andreessen Horowitz, Polychain Capital, Scalar Capital, SV Angel, Electric Capital, and ZeroEx, as well as several early Ethereum supporters. More than 50,000 registered participants received ICP utility tokens in an airdrop in 2018. Internet Computer's alpha mainnet was launched by DFINITY on December 18, 2020. 

On May 10, 2021, DFINITY released the Internet Computer into the public domain as a final step in the decentralization process. As a result of this milestone, the internet has now been transformed into a decentralized global computer based on the release of all the Internet Computer's source code into the public domain, as well as ICP tokens for community members that allow them to govern the Internet Computer network.

The Internet Computer: What Makes It Unique?

The Internet Computer is designed to extend the public internet and serve as the world's computing platform. There are currently systems and services available on the internet which are run by private infrastructure. Scientific breakthroughs such as Chain Key Technology, non-interactive distributed key generation (NI-DKG), Network Nervous System (NNS), Internet Identity, and others make up the Internet Computer. It is composed of cryptographic protocols which orchestrate the communication between the nodes which make up the Internet Computer. 

The Internet Computer has a single public key, which is one of the fundamental breakthroughs behind it. Using the Internet Computer allows any device, including smart watches and mobile phones, to verify the authenticity of artifacts. However, traditional blockchains cannot do this. 

It's important to understand that the single public key on the Internet Computer represents just the beginning: Chain Key Technology is the engine that makes the Internet Computer work. This allows for infinitely scaling the network with new nodes, replacing faulty or crashed nodes with new ones without ever stopping, reviving subnets even if too many nodes have failed, and upgrading the Internet Computer Protocol seamlessly, enabling the network to fix bugs. 

ICP Tokens: What Are They?

ICP tokens are native utility tokens that serve three key functions on the network:

By participating in network governance, ICP tokens can be locked, allowing neurons to vote and earn rewards through voting.

Production of Cycles: ICP provides a source of value that can be converted into cycles. Those are the cycles that power computation in the form of fuel consumed when they are used. NNS converts ICP to cycles at a variable rate, so users of the network can always create new cycles at an approximately constant cost in real terms, so fuel acquisition costs can be predicted.

As part of the incentive program, participants receive ICP as a reward for participating in the network. This includes: a) voting rewards for participation in governance; b) voting rewards for operating the network's nodes; and c) other rewards.

What Do Cycles Do?

Fuel is the computation power of cycles. Additionally, they have a constant value over time, unlike ICP, which will naturally fluctuate. Furthermore, Cycles will be backed by the SDR, a logical currency unit established by the International Monetary Fund, and 1 SDR of ICP will be fully convertible into exactly one trillion Cycles for computation.

What Do Neurons Do?

Neurons lock a balance of ICP utility tokens, enabling their owners to participate in network governance and earn voting rewards.

In what way does the Internet Computer Network Nervous System work for voting?

By receiving proposals and voting activity from the network participants, the NNS decides whether to adopt or reject them. Participants can also submit proposals using neurons. Proposals are either adopted or rejected after submission, which can occur almost immediately or after some delay, depending on how the totality of neurons votes.

By Warren Manuel
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