As per the CoinMarketCap data, The Internet Computer (ICP) token, listed 24 hours ago, is currently the eighth-biggest cryptocurrency by market capitalization of $46 billion USD.
The Internet Computer is a smart contract platform running on the Internet itself and is designed to power blockchain versions of some of the web’s most popular applications—decentralized alternatives to WhatsApp, LinkedIn, and TikTok.
The Internet Computer token (ICP) token was listed on Coinbase Pro and several leading exchanges including Binance, Huobi Global and OKEx on Tuesday. At the launch, the ICP token was trading at a high of $700 before falling, within hours, to below $350. Currently, the token is trading at $372, and price predictions vary wildly for its prospects over the next 12 months. CoinGecko estimates $1.8 billion worth of ICP tokens have traded just 14 hours since trading commenced.
About Dfinity Foundation
Dfinity Foundation is a non-profit organization that was founded in 2016 by tech entrepreneur Dominic Williams who now serves as Dfinity’s Chief Scientist. It is one of crypto’s most well-funded and publicized projects. The Internet Computer is the culmination of five years of research and development by top cryptographers and experts in distributed systems and programming languages. Dfinity currently has nearly 100,000 academic citations and 200 patents.
Dfinity describes the protocol’s mission as expanding the functionality of the public internet from a network that connects billions of people through standard protocols to a publicly accessible global supercomputer based on its own ICP protocol.
While Dfinity’s first iteration looked similar to ETH 2.0, its scope now extends beyond Ethereum’s base capabilities. Dfinity wants the internet itself to support software applications and data, rather than simply providing peer-to-peer connections and relying on proprietary cloud-hosting services to handle the rest.
The Internet Computer (IC) is less about building an immutable ledger and more about building an open-access internet.Tweet