Internet Computer (ICP): questions and answers
Every answer below is written from the sources listed at the end of this page, with the date each one was checked.
The question that decides how you read Internet Computer
Most chains ask you to trust a ledger. Internet Computer asks you to trust a whole application stack running on-chain — and the argument about whether that is possible has been running since its first day of trading.
The founding claim was that blockchains had settled for too little. If code can run trustlessly, then not just the ledger but the web application on top of it — its storage, its backend, its served pages — should run on the network rather than on a cloud provider.
Delivering that requires a very different machine: subnets of nodes running application canisters, replicated and orchestrated, with enough performance to serve ordinary web requests.
What is still unsettled
Litigation and governance criticism both remain live. One securities class action was resolved in Dfinity's favour on standing grounds, affirmed on appeal in January 2026; other civil claims have been filed and allege far more, none of which has been adjudicated. Separately, how much voting power the foundation and early participants hold in the governance system is still argued rather than settled.
What this means when you swap ICP
The practical hazard with ICP is the two-identifier problem. Exchanges generally expect an account identifier — a sixty-four character hexadecimal string — while wallets and applications often show a principal in dashed form. Sending to the wrong one can leave funds somewhere you cannot easily reach without the derivation step.
Beyond that, ICP behaves unlike most assets in one more way: staking is done by locking ICP into neurons with a chosen dissolve period, and those neurons cannot be sold or moved until they dissolve. That is a real lock-up, not a soft one, so read the terms before staking.
Common ICP questions
- How do I swap Internet Computer (ICP) instantly on Monivo?
- Pick ICP as the asset you want to receive, choose what you're paying with, paste your wallet address, and confirm. Monivo routes your order to the provider offering the best rate, and most swaps complete in under 10 minutes — no account needed.
- Can I swap ICP with no KYC?
- Yes. Crypto-to-crypto swaps of ICP on Monivo require no identity verification and no sign-up. Only fiat purchases (card or bank transfer) require KYC, because banks and payment processors mandate it.
- Is swapping Internet Computer on Monivo non-custodial?
- Yes. Monivo never holds your funds. ICP is sent directly to the wallet address you provide, so you stay in control the whole time.
- Which network does ICP use here?
- Monivo supports Internet Computer on the ICP network. Always double-check that your receiving wallet supports this network before confirming.
- What fees apply when I swap ICP?
- Monivo adds zero fees on top. The quote you see already reflects the best aggregated rate across connected providers, including their network and processing costs — all fees are included in the shown amount.
- What is the difference between a principal and an account identifier?
- A principal identifies a caller on Internet Computer; an account identifier is a hash of a principal plus an optional subaccount and is what the ICP ledger uses for transfers. Exchanges usually want the account identifier. Send to whichever form the recipient publishes, not the one your wallet happens to show.
- Can I unstake ICP immediately?
- No. Staked ICP is held in a neuron with a dissolve delay you choose when staking, and the balance only becomes liquid after that period elapses. Longer delays earn more voting power and rewards, so treat the choice as a commitment.
- Why did ICP fall so sharply after launch in 2021?
- The token listed at a very high valuation in May 2021 and fell more than ninety per cent within weeks. Independent analyses attributed large exchange deposits in that period to early participants, an attribution that is disputed and has not been established in any proceeding.
Sources and dates (7)
- Internet Computer separates principals from ledger account identifiers. Internet Computer documentation · checked 2026-09-22
- ICP listed in May 2021 and lost the large majority of its value within weeks. The New York Times · 2021-06-28 · checked 2026-09-22
- An on-chain analysis attributed a large share of exchange deposits to addresses linked to insiders. Arkham Intelligence report · 2021-06-28 · sources disagree · checked 2026-09-22
- A securities class action against Dfinity was resolved on summary judgment and affirmed on appeal. Counsel summary of appellate decision · 2026-01-30 · reported, not independently confirmed · checked 2026-09-22
- IQ.wiki identifies Dominic Williams as the originator of Internet Computer and dates mainnet to May 2021. IQ.wiki · reported, not independently confirmed · checked 2026-09-23
- Messari records Internet Computer's development by the DFINITY organisation founded by Dominic Williams. Messari · reported, not independently confirmed · checked 2026-09-23
- CoinGecko maintains the live ICP market page under the Internet Computer asset name. CoinGecko · reported, not independently confirmed · checked 2026-09-23