What is ICP and why it is a good investment?
In this article, I will explain the entire ecosystem of the Internet Computer and why it is the most promising project for the future, but first, let us take a look at the people who are responsible for this amazing technological advancement.
Dominic Williams, CEO and CSO of DFINITY, founded the company. Cryptotheorist, inventor of Threshold Relay and Probabilistic Slot Consensus, serial entrepreneur, and early Bitcoin and Ethereum community member He was previously President and CTO of String Labs, an incubator for venture-backed crypto projects. He founded several companies besides System7, Airdocs, and Smartdrivez. King’s College London awarded him an honours degree in computer science.
Do you know what DFINITY stands for?
The DFINITY Foundation, a non-profit scientific research organisation based in Zurich, Switzerland, incubated and launched the Internet Computer, which has amassed nearly 100,000 academic citations and 200 patents. DFINITY has a number of notable technologists, including Dr Jan Camenisch served as the head of IBM’s Cryptography/Research division for 19 years. WebAssembly co-creator Andreas Rossberg, PhD, and former Google Chrome V8 engine team lead Ben Lynn (Sr. Staff Engineer and Researcher) – the “L” in BLS cryptography, the key signature system used in Ethereum 2.0. Non-interactive zero-knowledge proofs were invented by Jens Groth, PhD (Principal Researcher), a renowned cryptographer.
Timo Hanke, PhD, developed AsicBoost, one of the few Bitcoin mining algorithmic optimizations that have been proven to work. A key Haskell developer, Paul Liu, PhD (Staff Engineer), designed Intel’s Haskell compiler. Johan Georg Granström, PhD, is a senior staff software engineer at Google (Director of Engineering) After its public launch on May 10, 2021, it will be one of many organisations dedicated to improving and maintaining the Internet Computer network.
What Is the Purpose of the ICP Token?
ICP tokens can be locked to create neurons that vote in network governance and earn economic rewards. ICP provides a source of value that can be converted into cycles; these cycles power computation in the role of fuel that is burned when it is used..” There are a variety of ways in which the NNS converts ICP into cycles, and this is done at a variable rate so that the cost of fuel can always be predicted.
Participant Rewarding the distribution of voting rewards to those involved with network governance, the distribution of voting rewards to operators of the node machines that host the network, and various other activities are all examples of the network minting new ICP for the purpose of rewarding and incentivizing key players.
Internet Computer Ecosystem?
When the Internet Computer was first launched, it was being used by a number of well-known entrepreneurs and applications. Among them are:
- Fleek – Makes it simple to create open web applications and websites. The Pan-Industry Platforms are already being used by 14,000 websites!
- Starting with luxury timepieces, Origyn is a multi-industry platform for tracking the origins of luxury goods.
- Decentralized exchange Enso Finance has raised $5 million in seed funding.
- Non-custodial exchange Tacen has raised $2.5 million in funding.
- Opening up the financial services industry with SailFish
- Distrikt – A professional, decentralised social media network. DFINITY’s Open LinkedIn application, which was demonstrated at WEF 2020 in Davos, is now available to the general public.
- OpenChat is a free and open-source alternative to the widely used messaging app.
- CanCan is an open-source version of TikTok that demonstrates the Internet Computer’s scalability and power.
- Decentralized social media platform Capsule, which has raised $1.5 million in funding, is safe from censorship.
ICP Price Prediction
Internet Computer has a bright future ahead of it in 2021 thanks to its strong marketing strategy. There is a bullish ICP price forecast of $156 for 2021. Even if investors decide in 2021 that ICP is a good investment alongside Bitcoin and Ethereum, the value of ICP could rise to $180.
Internet Computer (ICP) has a lot of potentials, but only if it’s invested at the right time and at the right price, as predicted by our Internet Computer price forecast.
In the next four years, the cost of an Internet computer could soar to $845. Internet Computer, on the other hand, has a number of medium, short-term, and long-term price points at which to buy or sell orders. According to the forecast, Internet Computers will likely hit a new all-time high within the next five years.