The Impossible Cloud Network Protocol (ICNP) is a set of rules and standards that facilitate hardware node coordination, formation, monitoring, and access among the network participants.
It plays a crucial role in defining interactions between Hardware Providers (HPs), Service Providers (SPs) and SLA Oracle Nodes (SLA-ONs). ICNP is the backbone of a two-sided marketplace, enabling healthy competition both among HPs offering similar classes of hardware and SPs bidding for that hardware. This competition drives up quality and drives down prices over time, ensuring a dynamic and efficient ecosystem. Through its implementation, ICNP not only coordinates the technical aspects but also aligns economic incentives, promoting a robust and scalable decentralized cloud service.
The protocol’s design encourages contributions from protocol participants and community members, jointly developing a decentralized cloud ecosystem. To align incentives across protocol participants and to implement the protocol’s incentive layer, ICNP relies on a tokenomic system that is described in the following sections in more detail.
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