Internet computers function as digital tokens that use the Internet Computer Protocol, a proprietary protocol.This platform can be used by anyone to create software or even publish content online. It is not necessary to make use of any services or partner with large companies.
The concept behind Internet Computer Coin (ICP) is like some other cryptocurrency blockchains that use computers or smart contracts.
It could be an interesting fact to note that Internet Computer Review is believed to be the first blockchain that is running at the speed of a web browser, with no limitless capacity. It is also the basis for three additional blockchain developments aside from Ethereum, in addition to Blockchain.
Internet Computer is no doubt an emerging cryptocurrency that is causing a buzz and will soon increase in value compared with other currencies. Users can construct their own Internet and enjoy the benefits of a secure platform. Are you prepared to put your money in the form of an Internet computer?
What is ICP?
The Internet Computer is a blockchain-powered public network that offers infinite opportunities for smart contracts that can run at the speed of the internet and scale. It also helps lower the cost of computing.
The project is said to be the third-highest-rated innovation following Bitcoin, which serves its role in the form of digital gold, and Ethereum, which is the engine behind the Decentralised Finance (DeFi) Revolution.
Internet Computer has set an ambitious goal to “reimagine how you build everything” by creating an infinitely-scalable blockchain. The platform allows developers to develop anything from DeFi applications to massively-marketed social media tokenisation services.
Based on Dominic Williams, founder and chief scientist of Dfinity, who was the one responsible for constructing the Internet computer. The platform will help to reduce the power of “Big Tech” firms like Google and Facebook, which could lead to a revolution in the web and make the “open and free” worldwide web 3.0.
One of the Internet computer’s primary objectives is to compete against technology giants. In the words of Dominic Williams, although the Internet first gained popularity due to its decentralisation and openness, it’s become too heavily monopolised. The majority of hosting services are managed by multiple large players, including Amazon Web Services and Google.
They are able to selectively limit services and can arbitrarily alter the operating rules and platform parameters with no prior notice to customers and businesses. By using the Internet Computer, developers can build websites as well as corporate IT systems and Internet solutions by hosting the codes directly on the Internet without the requirement for servers or cloud services.
Is ICP Crypto a Good Investment?
Internet Computer is the first cryptocurrency that is backed by a specific protocol. A lot of experts on crypto believe the Internet computer is a good option to invest in compared to other cryptos. Despite the numerous changes and fluctuations in the ICP’s past, experts believe that the price of internet computers may increase further over the long run.
This is the main reason that a lot of crypto analysts using an analysis of the fundamentals and technical aspects conclude that the Internet Computer is a good investment.
Despite its strong bullish run and sharp declines, experts believe the Internet computer is a great long-term investment that could be sold at a considerable price.
There are a variety of factors, but one of the main factors that could influence the decision to invest in Internet computer ICP is the launch of social media apps as well as financial applications that are decentralized.
Cryptocurrencies like Ether, EOS, TRX, and ADA have benefited from the operation of DAPPS and the future development of decentralised financial applications using their platform.
As a result, investors have become used to decentralised exchanges and lending and yield aggregation, asset management tools, alternative savings apps, derivatives, margin trading assets, tokenization and payment services, marketplaces and analytics, stablecoins forecast markets, KYC & Identity.
Therefore, the mere reference to the capability of users to help in the development of online applications, particularly in the realm of social media, can increase their cost.
To allow the internet to be decentralised from an eagle’s eye, users would be able to use these social media platforms that are tokenized for mass market without the requirement to enter usernames, passwords, and email addresses, which can be linked to them.
As long as the apps come with the same features or even surpass existing ones in terms of quality, then the closing of technology that is centralised could be within reach. Thanks to the Dfinity Foundation, CanCan, directly competing with TikTok, is already built and running using the Internet Computer blockchain.
Dfinity stated it is because Internet computers make it relatively simpler to build applications since CanCan was developed with just 1000 lines. Contrary to that, Facebook took a whopping 62 million lines to develop the social media app.
Projects that are already being developed through the service include a secure video-conferencing programme that provides authentication to participants, known as MAGNIFY. LinkedUp is an online social network that is designed for desktops with professional profiles that are similar to LinkedIn. Other apps created fall under the category of luxury items and decentralised payment applications.
The addition of more social media apps will result in more users. This would imply that there is increased interest in cryptocurrency as a source of computing fuel.This will surely lead to an increase in the value currently attributed to the digital currency.
These are excellent reasons to think about the Internet computer as an investment vehicle.