[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"4393a4a3-79a5-4b7a-82ee-754d440aa2c3","updated_at":"2022-07-07T12:36:00+00:00","account":{"firstName":"Akash","lastName":"Kashyap"},"description":"In recent years, several blockchain ecosystems have grown significantly. Finding an ecosystem that is growing quickly but not receiving lots of attention is a gold mine for investors and developers. Internet Computer is a potential Layer 1 blockchain platform but has not been noticed by many people. Let’s take a deep dive into Internet Computer platform!","sapo":"In recent years, several blockchain ecosystems have grown significantly. Finding an ecosystem that is growing quickly but not receiving lots of attention is a gold mine for investors and developers. Internet Computer is a potential Layer 1 blockchain platform but has not been noticed by many people. Let’s take a deep dive into Internet Computer platform!","title":"Is Internet Computer (ICP) a good investment?","content":"

Introduction to Internet Computer

The Internet Computer (IC) is a blockchain network built by the DFINITY Foundation that aims to support smart contract development at scale.

This is an open-source crowd computing platform that aims to help developers create websites, enterprise IT systems, internet services, and DeFi applications by "installing their code directly on the public Internet."

The Internet Computer is self-governing and can grow its capacity as required. It combines specialized node machines that are collectively operated by unaffiliated data centers all around the world. It is unstoppable, just like all blockchains, and the code it hosts cannot be altered.

About ICP token

Internet Computer (Symbol: ICO) is the utility token of Internet Computer blockchain.

The ICP token was invented to serve three key purposes within the network:

Facilitating Network Governance: ICP tokens can be locked to create neurons that participate in network governance by voting, through which they can earn economic rewards.
Production of Cycles for Compute: ICP acts as a source of value that can be transformed into cycles, powering computing in the same way as fuel does when burned. The NNS translates ICP to cycles at a variable rate, which was set to ensure that network users can always create new cycles at a relatively constant cost in actual terms, ensuring that fuel costs are predictable.
Rewarding Participants: The network creates new ICP to reward and encourage individuals who contribute to the network's success, such as: providing voting rewards to those who participate in governance, providing voting rewards to those who operate the network's node machines, and other miscellaneous activities.

The development of Internet Computer

Below is the development process of Internet Computer:

Copper: Dfinity released the first version of ICP, called the DFINITY Canister SDK (V0.3.0). They also released a new programming language specifically for project development on this new platform, using WebAssembly.
Bronze: Launched World Economic Forum - the first social networking platform developed on ICP, called LinkedUp (LinkedUp's open web version). During this period, several other demo applications were also launched on ICP.
Tungsten: This development phase allows developers to participate in building dApps on the ICP platform. The ecosystem of developer infrastructures on the platform is expanding rapidly. Typical activities include the 48-hour Tungsten Hackathon.
Sodium: Launched the NNS algorithm management system, serving the platform management process. Validators who wish to contribute to the security of the platform need to be validated and authorized by this system. NNS also handles the awarding of validators and delegators, thereby putting the ICP token into action.
Mercury: ICP mainnet launched. The launch time was first announced by Dfinity in 2018, but pushed back to the end of 2020. Finally, the project announced that it will launch the public mainnet on May 07, 05.

How Internet Computer works

The Internet Computer is based on the Internet Computer Protocol (ICP), a unique decentralized protocol. This protocol pools the combined computing capacity of many computer nodes to create a single unified platform that can serve applications of any scale and complexity.

With the Internet Computer, smart contracts are segregated into secure code units, known as "canisters," which enable end-users to interact with through an entry point.

Each canister has about 4GB of storage capacity that can be used for hosting services. These canisters collectively make a global and distributed network of data centers that can run a number of applications.

Unlike the traditional internet, the Internet Computer will directly host and serve applications and data on-chain, rather than relying on centralized infrastructure.

The network has nodes that host the internet. These nodes represent individual internet providers that use their personal infrastructure capability to host internet applications.

Who is behind Internet Computer?

Team

Dominic Williams - Founder & Chief Scientist: Previously Dominic ran a venture-backed MMO game using his own distributed systems that hosted millions of users.

Gian Bochsler - Foundation Council Member & Swiss Operations: Gian is an experienced entrepreneur, fund manager and board member. He currently serves on the DFINITY Foundation Council in Switzerland and helps oversee Swiss operations.

Partners

ICP has received contributions from many world-leading firms, such as Apple, Google, Microsoft, etc.

Is Internet Computer (ICP) a good investment?

It can be said that the fact that ICP has been listed by the "big guys" Coinbase, Binance, Huobi, etc since its launch has shown how great the potential of this cryptocurrency is.

ICP made a huge splash when it launched in May 2021, hitting an all-time high of $750 and ascending to fourth in crypto market cap rankings, which generated further interest from speculators and traders.

Many experts believe that IC will build something epic in the forthcoming future.

Explore all the trending topics and hottest news in the crypto market with our Blogchain.

Meanwhile, play trading game and earn real tokens with CryptoSim - Virtual Trading Game.

","tags":[],"image":{"fileName":"internet-computer-icp-deep-dive.png"}}]

Is Internet Computer (ICP) a good investment?

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