Cycles are how computation works on the Internet Computer. Unlike traditional blockchains, ICP has no gas fees. Instead, developers run smart contracts, called canisters, that must be funded with cycles to operate — similar to how you pay for cloud services like AWS.
In Plug, you can:
Mint cycles by burning ICP
Send cycles to any canister
Set up auto top-up, so a canister is automatically refueled when its balance drops below a certain threshold
Cycles are essential to keep canisters running smoothly, powering apps and services on the Internet Computer.