A few months ago, a new digital currency entered the top 10 by total market capitalization, represented by the ICP coin, which currently ranks 19th with a total market capitalization of $9.4 billion.

Currently, this currency is trading at $ 60, which is a significant decrease compared to the first days of its launch.

Below is a brief guide about the coin project and its objectives.

What is the “Internet Computer” project?

The “Internet Computer” project is the first decentralized public network in the world with unlimited capacity created by the “DFINITY” Foundation, which we previously discussed in the Arab Bitcoin in an article entitled:

Crypto project “Dfinity” valued at more than 10 billion dollars launches a new update

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The mission and objective of the project is to provide public Internet services and allow programs to be hosted on the network.

A decentralized cloud computing platform helps software developers freely share their open source software frameworks on the Internet without relying on tech giants like Amazon and Facebook, or commercial cloud servers and services.

What is ICP digital currency?

Cryptocurrency (ICP) operates on its own protocol called “Internet Computer”.

The purpose of the coin is to establish protocol governance and facilitate network transactions.

With the ICP digital currency, coin holders can vote on project management proposals.

Another function of currency is to pay transaction fees.

Compared to the current Ethereum network, ICP fees feature a fixed transaction rate.

DFINITY:

The DFINITY Foundation is a non-profit organization, founded in 2016 by Dominic Williams, the project is based in Zurich – Switzerland.

The project objective is to transform the Internet into a decentralized public computing platform.

Currently, DFINITY has established three research centers worldwide, and the team has employed more than 100 researchers, engineers and operations teams.

Since 2015, this project has won the approval of famous investors such as:

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• Andreessen Horowitz (A16Z).
• PolychainCapital.
• SVA Angel.
• SpecificVentures.
• VillageGlobal.
• MulticoinCapital and ScalarCapital…

Read also:

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