One of the most talked-about projects of 2021 was Internet Computer (ICP). The BeinCrypto editorial team decided to figure out its features and whether the startup is worthy of investment.
What is an Internet Computer?
Internet Computer ( ICP) is an open-source, decentralized blockchain project from the Swiss Dfinity Foundation. Its mission is to improve the outdated IT industry and the Internet.
The ICP developers, led by the platform’s creator, the British Dominic Williams, believe that the tools they have created can rebuild the way the World Wide Webworks.
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The startup’s technical solutions will make it possible to transform the Internet into a kind of large, decentralized computer. In spite of, as conceived by the project representatives, such a scheme will make the network faster and more efficient.
The Internet Computer project has a native token – ICP. The cryptocurrency attracted special attention from the crypto community on May 10, 2021 – during trading with the coin on the popular digital asset exchange Coinbase Pro. On the same day, the developers officially announced the project’s launch.
Work on the project started in 2016. Many large market participants managed to invest in the platform during this time, including Aspect Ventures, Amino Capital, Eterna Capital, Polychain Capital, and Andreessen Horowitz.
The platform and token quickly caught the attention of investors. Within two days after the launch of ICP trading, the coin entered the top 10 most capitalized cryptocurrencies.
ICP’s position in the top 10 cryptocurrency capitalization ranking of the CoinMarketCap resource on May 12, 2021 – 2 days after the launch of coin trading on Coinbase Pro
The ICP token performs several functions at once. With its help, investors can take part in project management. Also, the token is needed to perform service operations and pay remuneration to users—the token economy of the project is found here.
Where to buy Internet Computer (ICP) cryptocurrency?
Unfortunately, the project’s cryptocurrency did not manage to stay in the top 10 capitalizations for a long time. As of mid-July 2021, the coin is in 21st place in the CoinMarketCap resource rating. At the same time, after listing on Coinbase PRO, the number of trading platforms within the walls of which you can buy Internet Computers began to grow actively.
As of this writing, you can buy the ICP on many popular crypto virzha, including Binance, Huobi, KuCoin and OKEx. Furthermore, the coin is traded in pairs with classic cryptocurrencies, stable currencies and fiat.
You can find information on where to buy Internet Computers in the “market” section under the coin card on the popular CoinMarketCap data aggregator.
Is it worth investing in ICP?
Everyone should make their own investment decisions. Before you buy an Internet Computer, it is worth assessing the project’s prospects, its advantages and disadvantages.
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- The project supported by many well-known market players, including Andreessen Horowitz.
- ICP is one of the few cryptocurrencies that managed to get into the top 10 capitalization rating.
- Developers already have ready-made technical solutions in practice.
- The project’s cryptocurrency was supported by many popular digital asset exchanges, which conduct a strict security check of coins before listing them.
Against the background of the mentioned advantages, the ICP rate may grow.
The cryptocurrency attracted the attention of the crypto community almost immediately after its appearance. Until now, Monero is in the top of the most capitalized coins.
Disadvantages of the project
× Cryptocurrency failed to hold the attention of investors for a long time. In addition, among other things, the continued drop in the ICP rate after trading indicated.
× There is a risk that the project tools will not in use. Furthermore, against the background of the loss of the relevance of Internet Computer price prediction , the startup’s cryptocurrency rate may continue to fall.
Metamask At the same time, the crypto wallet differs from its counterparts in an intuitive interface that eliminates the discomfort of the lack of a native language.
The Metamask developers claim that, as of early January 2022, over 21 million people worldwide use their program. As a result, the popularity of the crypto wallet can be explained by its good reputation.
Even though reports of breakthroughs in Metamask security systems periodically appeared on the network during the project, many members of the crypto community continue to trust the platform with their assets.
Internet Computer is an ambitious project whose developers want to improve the Internet and break the monopoly of IT companies. Time will tell whether they will be able to achieve their goals.
Those wishing to buy an Internet Computer can find offers to sell coins on many popular digital asset exchanges. Before purchasing a cryptocurrency, it is worth assessing the investment risks of the project.