The Internet Computer (ICP) offers the world a new vision for the internet. This project makes significant contributions to internet development by positioning itself as an effective solution for content creation.
Our comprehensive guide takes a closer look at the Internet Computer crypto and discusses the project’s essence and the significance of its cryptocurrency. Additionally, we explore where and how to purchase ICP. We provide our opinion on ICP and evaluate Internet Computer’s future and what the potential of investing in this cryptocurrency is.
Internet Computer offers an innovative solution to blockchain design.
The protocol is a global solution for creating social media platforms without the need for traditional computing. As a result, the concept of cloud computing becomes obsolete, enabling complete end-to-end decentralization of the web.
In practice, the Internet Computer is used to ensure maximum anonymity, privacy and decentralization for a given project. Its architecture enables the creation of secure, encrypted conversation groups on the internet among other uses. Overall, ICP is widely recognized as a major token of web3.0, aligning directly with concepts related to web3.0.
Previously, such services had to be constructed entirely on the cloud. However, with Internet Computer and its cryptocurrency, it’s now possible to offer resource-intensive services built entirely on the Internet Computer blockchain. This represents a significant enhancement of security and confidentiality throughout the blockchain industry.
Binance
Binance
Internet Computer was developed by the DFINITY Foundation, which is a Swiss company that focuses on research and development, having headquarters in Switzerland and California.
The Internet Computer founders were a team that included numerous cryptographers, computer scientists and engineers. The company was established in 2016, and in 2017, it completed its first public fundraising. It later conducted a private initial coin offering (ICO) to secure investments from over 100 well-known investors.
At the time of its 2021 launch, the Internet Computer cryptocurrency price in USD was $428. However, it experienced a decline shortly after entering the market, offering lower values around $40. Recently, according to data provided by CoinMarketCap, the price of Internet Computer varies between $4 and $7 with a median of $5.90 over 3 months.
Since it entered the market, the Internet Computer (ICP) has attracted the interest of numerous investors. However, opinions have widely diverged since 2021. Some label the token as “crypto marketing” while others see genuine potential, dubbing ICP as an “Ethereum killer.”
As its name indicates, Internet Computer enhances the internet. The project creates an improved web3.0 that provides decentralized end-to-end functionality. In essence, the objective is to evade Big Tech or any form of central control.
The Internet Computer blockchain offers a unique cloud that would replace the current system. Consequently, the blockchain could enable unlimited creation of applications using the project’s smart contracts and transaction speed.
Internet Computer uses Key Chain technology, which requires a public key during transactions, resulting in faster processing. Compared to blockchains like Ethereum, the speed is surprising, enabling transactions in just 1 to 2 seconds.
Internet Computer offers a new version of our web ecosystems. While the project vaguely resembles that of Ethereum, the Internet Computer crypto seems to have some additional features in its favor, starting with its scalability.
The code of the Internet Computer (ICP) is partially open source. It is licensed under Apache 2.0, with certain components using licenses shared by the ICP community. Its network is programmed in Motoko, which is a new programming language developed by the DFINITY foundation. The Internet Computer framework also supports RUCT and C languages.
Internet Computer operates on a proof-of-stake consensus similar to Ethereum’s blockchain. Overall, ICP comprises of four different layers: identity, random beacon, blockchain and notary. One unique feature of the project is that it does not use smart contracts. Instead, it utilizes canisters, which are automated and can further accelerate transaction speeds.
The Internet Computer consists of nodes that form what is known as the Network Nervous System. This system includes 48 data centers, 1,300 nodes, subnetworks akin to those of Polkadot and the famous canisters which are distinctive of ICP.
With Internet Computer, staking is an option, granting you a role in project governance. Major decisions are typically proposed through voting, allowing ICP holders to directly influence the project’s direction.
Additionally, participating in votes can earn users cryptocurrency rewards. In its governance, ICP tokens are also used to support dApps on the project’s blockchain, requiring users to convert their ICP to facilitate dApp deployment.
If you are looking to purchase ICP, we have identified three platforms that offer competitive prices and relatively streamlined purchasing power. Here’s a better look at your options:
Binance allows users to buy Internet Computer and other cryptocurrencies at competitive rates. The platform also provides trading tools, tutorials and informative videos for beginners.
The Binance exchange platform is currently the most popular and widely used in the world. Crypto investors and token traders often consider Binance to be the major platform in the cryptocurrency market. Additionally, the site’s tools are constantly evolving, and its functions are regularly updated.
Binance
Binance
OKX is a cryptocurrency trading platform focused on web3.0. It serves as a gateway between traditional web2.0 and emerging technologies that offer a variety of tools, including detailed graphs, trading functions and real-time notifications that crypto investors will find valuable.
At OKX, users can purchase ICP, with a registration process similar to that of Binance. Notably, OKX places a strong emphasis on decentralized finance and web3.0 in comparison to other platforms, making it an excellent choice for investing in Internet Computer crypto.
If you prefer, you have the option of choosing Bybit when purchasing Internet Computer. The platform ranks 7th on CoinMarketCap and offers a wide range of tokens, prioritizing secure transactions for its users.
In addition, various trading tools enable users to buy ICP at a lower price and sell it at a higher price when the opportunity arises. Ultimately, Bybit is presented as an interesting alternative to the other platforms mentioned in this guide.
ByBit
ByBit
Now: 41 Fear
Now: 41 Fear
Yesterday: 40 Fear
Last Week: 39 Fear
To buy or to sell, that is the question every crypto trader must answer. The decision is much more difficult compared to traditional financial markets because crypto prices can vary wildly even within the same day. So, you need to have the right set of tools to help you answer this question with relative accuracy.
Now you have the Fear and Greed Index, which you can consider as a summary of all investors’ mood regarding Internet Computer (ICP) tokens. If you’re already familiar with oscillating indicators, you know that they operate by moving between two extremes.
On the lower end is fear, which is what occurs when investors are pessimistic about the market and more willing to sell ICP tokens. Then there is greed on the upper end, when investors have high hopes and are accumulating more ICP tokens for one reason or another.
Fear results in oversold market conditions and undervaluation while greed makes the value of ICP tokens overvalued. Although this is not all you need to know before making an investment decision, you can use this information as a guide.
That is what the Fear and Greed Index offers, sort of like a compass showing likely market conditions. Afterward, you will need to use other tools to make a final decision, but the index becomes an invaluable starting point for any investor, especially because of how easy it is to understand.
The challenge in determining the Internet Computer forecast is in assessing its dual nature. One question to ask is “will Internet Computer go up.” Since its launch, the value of Internet Computer to USD has decreased on Internet Computer price charts. Introduced in 2021, the crypto experienced a remarkable plunge from $428 to $5.
All hope is not lost for this cryptocurrency because, while it does show a certain level of volatility, it’s balanced by its utility. Consequently, it is not unusual to witness fluctuations of $2 in the same week. To determine if Internet Computer will recover good returns, it is essential to consider the token’s objective and its usage.
As previously explained, it serves as both a governance tool and fulfills a “fuel” function for applications developed on the Internet Computer blockchain. Two scenarios are now possible: either the project sees an increase in popularity, which would then drive up the Internet Computer value, or the project remains where it is and the ICP price risks stagnation and even further decrease.
Binance
Binance
Our assessment of the Internet Computer stock price is largely based on two factors. On one hand, investors have ample reason to be concerned about the token’s value, for it has lost approximately 98% of its value since its inception. While this may prompt some to consider purchasing in the hope of a resurgence, the likelihood of such a recovery is low.
When looking at the Internet Computer prediction from a different perspective, there is certainly an interest in the token provided that you are part of the project or its community. Since ICP serves as a governance tool, network users have a strong incentive to own it. This ownership not only allows them to vote, but also to power the network’s applications.
In conclusion, despite the lack of interest in the intrinsic value of ICP, the token serves a definite purpose in fueling a constantly evolving internet. If you want to purchase ICP, you now know where to go and which platform to use.
You can explore the Internet Computer token and, perhaps, participate in building the internet of the future.
