In line with wallebi, a new cryptocurrency was born yesterday, which could gain significant success in a short time and now it is among the top 10 cryptos. This new project is called “Internet Computer” (ICP).
An intro to ICP
Internet Computer is an open-source platform for massive computations, which is developed by Dfinity foundation and aims to resolve the traditional internet problems. Some of these challenges are low level of security, monopolization of internet services and misuse of users’ data. In fact, ICP is been built for modern internet generation to host every kind of applications. These applications can host very simple smart contracts and DeFi apps vary to Pan-Industry platforms used in organizational systems. Theoretically, this system can host all of human’s software data in smart contracts.
The project was first established and announced officially in 2015 and could raise $195 million fund during 2018 through several fundraising periods. It should be mentioned that now Dfinity foundation is entirely responsible for growth and development of Internet Computer. In fact, Dfinity is a non-profit foundation based in Zurich, Germany, with offices in Palo Alto, San Francisco and Tokyo. In addition, a team consist of experts from different nationalities around the world work remotely with Dfinity.
This protocol gathers and integrates the computing power of numerous computers known as a node to become a very powerful processor. Internet Computer has a native token called “ICP”, which immediately could reach to $750 after its issuance. However, now it is trading around $450. It is also used to reward nodes that allocate their power to the network.