For all those who are fond of putting their investments in the mining game, the launch of any new currency is not less than getting a new life. It gives them a feeling that a unique opportunity has arrived to invest something tremendously and earn high profits.
And keeping up the excitement of all those people, here we have another new currency in the market named “Internet Computer Coin.” This coin acts as the open-source crowd computing platform introduced by the DFINITY Foundation. We highly recommend using Binance for non-US crypto users and Coinbase for the US crypto users to trade ICP coin
The primary purpose behind the launch of the internet computer coin ICP was to address some significant challenges the current traditional internet is facing. This can be either monopolizing internet services, poor system security, misuse of personal information, etc.
Let’s get into the discussion below and have an in-depth Internet Computer review to know more about this exciting coin.
What Is Internet Computer Crypto?
Internet Computer works as the digital token, running on the proprietary protocol known as Internet Computer Protocol. This platform will allow anyone to build software or even publish content on the internet. There is no need to use any service or associate you with some big companies.
This concept of internet computer coin ICP is similar to a few other blockchain cryptocurrencies using smart contracts or computer codes.
It might be an interesting fact for you to know that the Internet computer review is known to be the world’s first Blockchain, running at web speed without any unbounded capacity. It even represents the three other blockchain innovations apart from Ethereum and Blockchain.
Internet Computer is no doubt just the latest cryptocurrency that is creating buzz and is soon to rise in the market compared to other currencies. Users can build their internet and get a better deal of a hack proof platform. Are you ready to put your investments in an Internet Computer?
Internet Computer Overview
|Product Name||Internet Computer|
|Who introduced it?||Williams founded Dfinity|
|Investors Involved||Andreessen Horowitz, as well as PolychainCapital, and Amino Capital, or Eterna Capital|
|Current Market Value||$35.8 billion|
|Uses Smart Contracts||Yes|
Who Is Behind Internet Computer? Dfinity Foundation Overview
Dfinity’s release date was 2016; it was introduced by Williams, a serial entrepreneur and worked as Dfinity’s chief scientist. The primary purpose behind the Internet startup is to make it work as a computer to host secure software with some superpowers.
In short, this coin is an open internet to allow people to build on it and later on reverse it.
Is Internet Computer Decentralized?
This major Internet Computer crypto Coin milestone means that the internet will not function as a decentralized global computer. It has been marked by the instant release of all Internet Computer’ source code within the public domain.
Plus, it even marks the internet computer coin ICP utility token and permits thousands of different community members to govern the network of Internet computer.
Is Internet Computer Mineable?
Internet computer coin mining is not an option. You lock up your ICP tokens into “neurons”. Every neuron you own facilitates you to vote within the Network Nervous System (NNS). This is the way On Chain governance works in Internet Computer coin protocol.
The longer you lock up your ICP tokens and vote, you get more rewards proportionately for your participation.
Internet computer has a current market value of $35.8 billion, where trading is happening at around $289.
This market value has risen to $90 billion within the trading price of $731.
Dfinity Foundation, the founder of Internet Computer, aims to make this currency the decentralized version of the internet. It generally functions in the same way as BlockchainEthereum; it uses smart contracts to power numerous platforms and applications.
What is Internet Computer Built On?
The internet computer coin ICP has been built on the advanced decentralized networking protocol known as the ICP. ICP is the abbreviation of Internet Computer Protocol. All the independent data centers worldwide are running to combine the ultimate power of individual computers into a seamless unstoppable universe.
It has been fully integrated with the Internet standards, including DNS and TCP/IP.
How Many Internet Computer Coins Are There?
A specific token on the Internet Computer’s Network is generally used for processing the power on the ICP network. All the tokens used in the transactions are burned, which makes the token the deflationary currency.
In an Internet Computer review, you will read that there has been a maximum supply of 469 million tokens, of which 123 million tokens are currently in circulation.
Internet Computer Protocol
ICP stands for Internet Computer Protocol coin on which the Internet Computer has been built. On the Internet Computer Protocol platform, all the independent data centers from the world are running over to combine the power of all individual computers into a seamless universe.
This Internet Computer Protocol even integrated with the Internet standards, including DNS.
What Does Internet Computer Crypto Do?
Although the Internet Computer is similar to Blockchain and Ethereum, it has a working scenario different from the others.
Internet Computer Crypto is used for mining purposes, and it functions on the dedicated hardware installed by independent parties from all over the world. Hence, it runs at web speed and even increases the capacity with demand.
With the help of the Internet Computer Protocol, users can easily create their websites and applications on the Blockchain. Any other entity does not run it because it is entirely decentralized.
What Makes Internet Computer Unique?
The Internet Computer Protocol is unique because it is taking the idea of the data centers and decentralizing it. To fully incentivize the investors to build the data centers and to, later on, link them to The Internet Computer, they are paid in the project’s native token.
The token price of Internet Computer Protocol might become volatile initially because the price might smoothen in the long run as soon as the usage of the project increases.
An investor will be given many incentives to build the data centers and enable the Internet Computer to grow even more.
What is Internet Computer Coin ICP?
Internet Computer (ICP) works as the utility token; it allows the users to participate and yet governs the entire Internet Computer blockchain networking system.
This network aims to help developers create websites, internet services, enterprise IT systems, or Defi applications. This is all done by installing the code directly into the public internet.
You can also stake the ICP, or it can be all converted into cycles. It can, later on, be used to power the computations for dApps and traditional applications.
Is Internet Computer Coin (ICP) A Good Investment?
The Internet Computer is known as the first cryptocurrency that is fully backed by the protocol. According to some of the crypto experts, the use of Internet Computers is considered a significant investment compared to other cryptos.
Similar to the rest of the cryptos, it does face some ups and downs. But still, it is expected that the price of an Internet Computer will grow more in its long-term usage.
This has been a significant reason why the Internet Computer is known to be a good investment. And among few fundamental reasons, we will talk about social media applications and decentralized finance applications.
Why Is Internet Computer Rising?
The Internet Computer coin value has traded at $346.91, having a daily trading volume of around $1.3 Billion. Internet Computer coin rising in value is due to the exchange launch frenzy that took place because ICP was launched by all big crypto exchanges at the same time. The Crypto, which Dominic Williams founded, is one of the most promising cryptos in the long term.
The project’s token has been available on various high-profile crypto exchanges such as Binance, Coinbase, OKEx.
The Internet Computer is known as the first Blockchain that is operating on the web speed with unrestricted capacity. It is even facilitating the powerful software framework system to the developers.
Internet Computer Coin price
Why Is Internet Computer Dropping?
Internet Computer coin is dropping because VCs were able to get into private placements before launch and pumped it up on launch. There was not much public interest to grab those coins at those insane prices which is already launching as a top 5 crypto by market cap coin. The upside was limited and downside was enormous. ICP has been trading at the current price of $209.15, which is 16.43% down in the last 24 hours. It is 70% down from the all-time high (ATH) of almost $737.20.
After enjoying the well-acclaimed and robust debut, ICP holders are currently banking on protocol’s underlying superiority as per the fundamentals and disruptive use cases to fully bounce back towards the winning ways.
Internet Computer Review – Why Is Internet Computer Good?
For the investors, investing in Internet Computer has always remained a worth considering option.
Internet Computer has some risk factors that you should be aware of when putting your investments in. In the future, this Internet Computer will bring some great possibilities in terms of advanced innovations, making it the most competitive one in the market.
IPC is relatively high in price in comparison with the rest of the cryptocurrencies. But still, it is far away from touching the level and status of Bitcoin, Ether, or Binance Coin.
Where Can I Buy Internet Computer Crypto?
Enough of information! where can I buy internet computer coin? is your question now. I get it!
Below we will be discussing five leading Crypto Exchanges who are offering the investors to buy Internet Computer ICP with a debit card, credit card, or the Bitcoin (BTC)
Is Internet Computer On Coinbase?
Coinbase is supporting Internet Computer (ICP) at Coinbase.com through its Android and iOS apps. All the Coinbase customers can easily buy, sell, send, convert, receive or even store the ICP.
ICP is now available at all the Coinbase regions, but New York State is not part of it. This ICP trading is even supported on the Coinbase Pro.
Is Internet Computer On Binance?
It was announced in May 2021 that Binance will soon listing the Internet Computer (ICP) and will do the open trading for the ICP/BTC, and ICP/BNB, and for ICP/USDT trading pairs as soon as the liquidity conditions are fully met.
Can You Buy Internet Computer In The US?
Yes, all US customers can buy Internet Computer through the Coinbase Exchange platform. By signing into Coinbase, investors can sell, buy or even trade the ICP through numerous trading resources. You can directly deposit US dollars at the exchange and buy ICP using their limit or market orders in Coinbase Pro.
For non-US customers, we recommend buying from Binance which is the one of the largest exchanges in the world. If you want to try another, then your next best bet is Kucoin. Internet computer coin price prediction says the coin will go to the moon (high four digit dollars per ICP) in the next bull run. Get ready, acquire and HODL!
To buy Internet Computer coin ICP, follow the below steps discussed for the beginners:
- Firstly, you have to choose the crypto exchange for buying Internet Computer coin. Look for the Crypto exchange who can give you some unfettered access to the markets of Internet Computer with low fees and good customer service.
- Now open your account to start buying Internet Computer. Fill in all your details in it to proceed into the verification process. You may also have to upload a copy of your government-issued ID to finish the mandatory Know Your Customer (KYC) process.
- Now deposit the US Dollar funds from your desired payment method. Once the verification process has ended, it’s time to deposit the funds. And this will depend on the type of cryptocurrency exchange you have chosen. Payment methods can be debit cards, credit cards, e-wallet, or bank transfers.
- Next, you have to select the market or trading pair for Internet Computer trading. Once you can add funds, you are all set to buy ICP coins. If you have US Dollars in your account, you will go with ICP/USD market
- Decide if you want to place a limit or market order. Once finalizing the details, enter the amount you want and desired coin price in case of a limit order to execute the Internet Computer coin trade.
Where Can I Trade Internet Computer?
If you want to trade ICP, you have to open an account with the regulated exchange and deposit all the funds.
Through the platform list, choose Internet Computer. At last, you have to Buy ICP (go Long) or even sell ICP (go short).
To trade Internet Computer, follow the steps below:
- Open your account with the regulated crypto exchange.
- Now funds your whole trading account.
- Select how much of the Internet Computer coin you are looking forward to trading.
- Now you have to buy ICP (go long) or sell ICP (go short).
- Finally, confirm your trade.
Does Internet Computer Use Solidity?
Internet Computer is based on smart contracts which require programming. And to perform the programming, a smart tool is required for this job which is Solidity.
Solidity acts as the high-level programming language that is perfect for creating smart contracts. This is merely best for automating the transactions on Blockchain. After its launch in 2014, Ethereum contributors make use of it for the first time. Not just Ethereum, but it even works on numerous other blockchains as well.
What Programming Language Does Internet Computer Use?
Copper introduced the first public version of DFINITY Canister SDK (V0. 3.0) and the Motoko. Motoko is the latest programming language that has been optimized for the creation of tamper-proof software. It even opens some internet services for Internet Computer using WebAssembly (Wasm).
How Do You Stake An Internet Computer?
You lock up your ICP coins via Neuron Network Service (NNS) into Neurons. ICP token neurons allow participants to manage and govern the Internet Computer network. So, ICP coin is a utility token.
The following two things can be done using ICP coins
- Lock ICP coins inside Neuron Network Service to create ICP token neurons, which helps users participate and vote on network proposals and earn rewards that are proportional to their ICP holdings and age of the ICP lock ups as neurons.
- Convert ICP coins into cycles, that powers computation via software canisters (SDK) running on top of the Internet Computer infrastructure.
The Neuron Network Service’s voting reward payment to neuron stakeholders is inflationary. Deflationary effect comes into play when you convert ICP coins to cycles which are eventually burned by the software running atop the Internet Computer network infrastructure.
Internet Computer Blockchain Review
Internet Computer (ICP) works as a public blockchain having numerous novel features. These latest features will make the whole utility far better with smart contracts of other Blockchains.
Internet Computer has the capability where it can perform the transactions in a few seconds and that too through the use of Ethereum’s network.
Based on DFINITY foundations research, the company has been successful enough to make certain breakthroughs in Blockchain and cryptography. All such innovations have gone through some incredible fast processing times with the unbounded capacity.
ICP has been launched with decentralized programs which are already operating on its network of Blockchain. This includes decentralized exchange (DEX), as well as social media platforms and the messaging application. Before investment, always know the upcoming internet computer coin prediction.
How Many Seconds Are Internet Computer’s Block Times?
DFINITY coin Internet Computer claims to have the transactions on its network in almost 3-5 seconds. In its comparison, Bitcoin has 1 hour, and it is 10 minutes for Ethereum.
Does Internet Computer Have Smart Contracts?
The Internet Computer works as a blockchain-based smart contracts platform having an associated cryptocurrency which is ICP. Internet Computer is extending the overall functionality of the public internet for hosting the software and letting it transform into a platform of global computing.
The company is hopeful of creating a good platform for decentralized cloud computing. By 12th May 2021, the internet computer coin price chart has achieved a market cap of around $37.5 billion, making it the 9th biggest cryptocurrency based on market cap.
On the 1st day of its trading, it reached the market cap of $90 billion. It was incredible to achieve this in just two days since Internet Computer genesis.
How Many Transactions Per Second Does Internet Computer Process?
We have already told you that Ethereum and internet computer coin Reddit are similar to one another. But at some stages, both are entirely dissimilar to one another, which is visible when it comes to transactions.
Ethereum is currently suffering from high transaction fees and is having slower transaction confirmation times. But this is not the primary case with an Internet Computer! The Internet Computer has the absolute transaction finality in just 5-10 seconds. It even comes up with unlimited scalability due to the advanced innovation happening in threshold relays.
Internet Computer Vs. Polkadot
Polkadot works as a global network of blockchains and is the new foundation of peer-to-peer internet. You will find this platform powerful enough from the perspective of governance, developability, scalability, and interoperability.
Polkadot is even a bet on the poly chain future with hundreds of different blockchains connected to perform an economic activity. Users will find music chains, bank chains, and government chains that are all communicating or operating together in a decentralized manner.
The launch of Polkadot has brought some composable building blocks to create a new Internet and that too with a better future.
On the other side, the internet computer coin ICP project has been best enough to decentralize the whole web. Like the Polkadot Blockchain, the Internet Computer ecosystem is also enabling the rising development of smart contracts.
Smart contracts in Internet Computer genesis can build some decentralized applications, websites, or even web services. According to creators, smart contracts available on ICP Blockchain can run at the same speed as the internet. Hence, it is added that ICP blockchain can stay as the best alternative in the current version of the World Wide Web.
Internet Computer Vs. Ethereum
The Ethereum community is playing a significant role in the origin of the Internet Computer project. This community will use the Internet Computer network for extending the basic capabilities of Ethereumdapps.
Ethereum dapps can make the use of software canisters to expand their overall capabilities in various ways. This will include scaling data storage or processing and even serving Web experiences.
But still, Ethereum and Internet Computer coin are different from one another at some point in time!
Ethereum makes the use of smart contracts for automatically enforcing the agreements and actions. But the Internet Computer makes use of canisters which are pretty similar to smart contracts. But they are available in the market in such a manner that makes them ultra-scalable.
Ethereum is always providing the technology stack for the decentralized applications (DApps) to move and use digital assets such s ETH and ERC-20 tokens.
But the Internet Computer performs the replacement of traditional internet by simply allocating few particular identities to the data centers and using the ICP’s governance over the end-users.
What Is Dfinity IOU?
Dfinity node works as the blockchain-based cloud computing platform to create the internet computer, a next-generation cloud, or acts as the decentralized internet.
The Dfinity ICO assigns the number of IOU rights to the future token. This future Dfinity token is a popular call out by the name of DFN. According to creators, smart contracts available on ICP Blockchain can run at the same speed as the internet. You will find this token to act as the utility within a specific platform for paying the data centers.
If you want to use the ICP protocol, you have to install and then run the software for which you have to pay a “gas” fee in tokens. The total amount of gas available in operation adds up by precise instruction, which is executing. This includes the amount of data store up and the data which is in processing.
Final Verdict On ICP Internet Computer Review
To sum up the whole discussion of Internet computer review, we will state that the time is not far away when Internet Computer coin ICP will beat all the cryptocurrencies in terms of investment profits. There are no mastery skills which you need to learn for trading in this coin. This is something important and beneficial that you can easily do just overnight. Being one of the most popular currencies in the current market, you should definitely think about investing in it. What is your opinion about it?
But for safe and successful trading, it is always essential to choose a regulated and reputable online broker for trading in Internet Computer coin. Read some trading articles or check Internet computer review blogs.
Search for the Crypto exchange platforms which is beginner-friendly and offers low fee to trade Internet Computer coin ICP with many crypto or fiat trading pairs. We highly recommend using Binance for non-US crypto users and Coinbase for the US crypto users to trade ICP coin.
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates