From the buzz, here is what you should know
You probably have come across Internet Computer if you are into crypto. It is a new network that has been on the headlines. Built by the DFINITY, a non-profit foundation in Switzerland under the founder Dominic Williams. Internet Computer is the last Layer one blockchain project. It runs on its protocol called the Internet Computer Protocol. The protocol aims to allow people to be able to build software and publish anything on the internet without using traditional platforms like Amazon. It aims at reversing monopolisation by big tech companies.
Internet Computer cannot be hacked, it reduces the cost of operation and it is interoperable. It is a new way to make people enjoy the internet without intermediaries and central authorities controlling what you post. It is like any other blockchain where smartcontracts are used to allow parties to create agreements and make payments.
The Internet Computer Coin.
Computer internet has its native coin. It doesn’t have a different name, it called Internet computer Coin, with ICP as its ticker sign. DFINITY has a backup from many investors which include Eterna Capital which focuses on blockchain companies. Amino Capital backs data-driven start-ups.
Switzerland has regulations on crypto and taxes crypto. It is worth noting that DFINITY is a non-profit organisation. They are probably enjoying tax exemptions but as long as they are making something, the government will need some.
Computer internet was debuted on the 10th of May 2021 although it started in 2016. It debuted at $731 and was down to $146 in a few minutes. It had made it to $280 in two days. DFINITY’s Computer Internet coin is listed on OKEx and Coinbase.
A new thing with a pretty name
Computer internet is new and has a catchy name with reputable investors. People have been wanting that assurance with crypto. When Elon Musk was all over Twitter about how Dogecoin is going to be the dollar reserve, people went buying the coin and its price moved to almost 80 cents. When Musk on the Saturday Night Show called Dogecoin a “hustle” the price crumbled again.
Computer internet is now a coin that is making headlines and it is looking exotic with what it offers to the users. It has also come in perfect timing when crypto adoption is easy. There is more knowledge about cryptocurrency compared to the same things five years ago.
How is the future?
Many cryptos have emerged worth almost nothing before they are boosted to gain a price. Shiba-Inu has come but it is worth less than a penny same with Dogecoin which is worth a few cents. Computer internet has broken the rules of how cryptocurrencies start. It started at $731. Although it went down it hasn’t gone below $100 and that is different for most coins.
Launched in less than 2 weeks, Computer Internet has a market capitalisation of over $40 billion. It is moving fast and taking over the internet. It now aiming at a top ten position in the crypto world which is not easy for “new” coins.
The future of internet computer is looking bright. DigitalCoin says the price will be at least $486 by the end of the year and will be about $1,375 by 2028. The coin is bullish and there is no foresight that it will take a downtrend.
The analysis is likely true with the fact that Internet Computer is new and one of its kind. It is different from many other digital currencies. It came at a time when everyone is thinking of changing the narrative of how the internet, payments and things work.
Like the way NFTs are changing the way, creators will benefit from their content. People want something that will make them build websites without a third party coming to control their income.
Is it wise to invest in Internet Computer?
This question is posed on almost all cryptocurrencies and the answer has never been a straight one. Because cryptocurrencies are volatile. Nobody wants to take the blame in case of losses. Above all Internet Computer is new and it is doing well. It is the last of layer one blockchain project, they will work to make it the best possible. Investing in Internet Computer will definitely pay off. After all, remember this, cryptocurrencies are volatile and move with speculation. Invest with caution.