Internet Computer (ICP): BIGGEST Launch of 2021??
💻What Is The Internet Computer?💻
When the Internet Computer was founded, it was known as Dfinity, and it sought to take Ethereum’s world computer idea to the next level by becoming, well, the internet computer The interesting thing about the Internet Computer is that unlike other smart contract cryptocurrencies, the Internet Computer aims to replace the entire internet stack, not just the application layer
⛓How Does The Internet Computer Work?⛓
Users do not need to pay any fees when interacting with canister applications unless it’s something that requires transactions like a decentralized exchange or lending Another major difference between the Internet Computer and other cryptocurrency blockchains is that you require something called an Internet Identity to interact with applications on the internet computer
⚖The Network Nervous System⚖
The internet computer’s architecture of data centers, nodes, subnets, canisters and users is managed by the Internet Computer’s Network Nervous System or NNS What’s interesting is that the NNS itself consists of a handful of canisters running on a dedicated subnet
💰 ICP Tokenomics: ICO💰
ICP has an initial supply just short of 470 million tokens and a decreasing inflation rate that starts at 10% per year. About 25% of these tokens were sold to early retail investors
🛠ICP Tokenomics: Use Cases🛠
The ICP token is used for three things: Governance of the Internet Computer via the NNS, to pay for fees to run applications and websites on the Internet Computer, and to reward network participants
📈ICP Price Analysis📉
ICP has slowly been shedding dollars and took a nasty beating when the crypto market experienced that flash crash a few days ago. This will likely continue as there are not many demand drivers for ICP
📅The Internet Computer Roadmap📅
In January this year, Internet Computer founder Dominic Williams detailed a 20-year roadmap for the project. By 2040, the Internet Computer hopes to be larger than the regular internet Achieving this on computers is only half the battle, which is why the Dfinity Foundation recently announced its plans for Endorphin, a new operating system for smartphones currently in development
🤔Is The Internet Computer Really A Crypto Project?🤔
The Internet Computer appears to be quite centralized – the Dfinity Foundation hosts the NNS, provides the ‘standardized hardware’ required to run nodes, and seems to have most of the voting power
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
