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ICP: Internet Computer

07.14.21 10:06 AM By Bindya

ICP: Internet Computer by Dfinity

ICP : Internet Computer

 

    Because of the changing trends and the ups and downs, the cryptocurrency market has been continually showing tremendous potential with each passing day. The price of popular currencies are going crazy and new cryptocurrencies are entering the market at a significant pace. In many of our blogs we have discussed the many new digital currencies that have launched and their performance. Many cryptocurrencies are launched for quick profits like Shiba Inu and many have launched with real-world applications. One such cryptocurrency previously discussed is Polygon. Another one with great potential that has shown tremendous growth the day, it was launched; was ICP.

 

    According to the project’s website; the Internet Computer is “the last original Layer 1 blockchain project that is launching a revolutionary public network, providing a limitless environment for smart contracts that run at web speed, serve web, scale and reduce computer costs by a million times or more.”

 

    In this blog, we will talk about ICP token that has been gaining attention. The ICP token developers, DFINITY Foundation, promised a lot of new innovation in the crypto sector in their official blog post.

Let's understand how different this protocol is and what new innovations this is bringing to the market.

 

    Dfinity in their words, is an infinitely scalable blockchain platform that is meant for hosting websites, software systems, open internet services, and DeFi. The project describes itself as 'the internet computer'.


Dfinity token (ICP)

    Dfinity (ICP) is the native token of the DFINITY protocol that allows users to participate in and influence the Internet Computer blockchain network. ICP can also be staked or "converted into cycles" that can be used to power computation for dApps and traditional applications.

What is ICP Token?  

    ICP or Internet Computer blockchain token as per their official blog, will be the first-ever blockchain that can host websites, systems, internet services and whole financial systems that have been built entirely from smart contracts, without any private systems. For e.g. If you were to create a website using ICP blockchain, you won't have to pay a hosting service to host your website, it will be done inside the blockchain itself. Cloud services will no longer be required to create DApps. Moreover, DFINITY promises that all apps and systems will run at web speeds. Web applications will be efficient and the blockchain will help DApps and systems to scale infinitely. 


    If ICP really delivers what they are promising, the ICP token has the potential to become one of the most valuable tokens to date and future job listings will be on web3.0 with extensive knowledge of Dfinity(ICP).


Professional at CIC keep a close eyes on the market and are determined to give our viewers and members the insight of the market using our analysis and thus assisting our members to score well on the crypto charts.

To know more about us and how we do and to learn more of the crypto market, don't hesitate to give us a call on +1 6474035381 or push an email to info@cryptoinvestmentclub.ca


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