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- TOP 3 Perspective Cryptocurrencies: Internet Computer
TOP 3 Perspective Cryptocurrencies: Internet Computer
Internet Computer (ICP) is a very ambitious project and plans to create an analog of the existing Internet. So, this project is not a rival of Ethereum like Polkadot or Solana. It is designed as a global network and is free from the control of global corporations like Amazon or Microsoft.
Dominic Williams, a founder of ICP, is a well-known critic of centralized Big Tech companies, which infrastructure is vulnerable to hackers and regular malfunctions. The Internet Computer Network is designed of data center networks with clearly defined configurations distributed across the globe. To some extent this structure could be compared to Polkadot parachains, but the physical distribution of datacenters allows for the acceleration of processing speed to a comparable internet connection level.
ICP is not only used to verify transactions according to the Proof-of-Stake algorithm but also to buy native token Cycles that are used to pay for processing capacities. So, the project could better be compared to large cloud computing services like Amazon Web Services. Used Cycles are being burned. So as more of the project is launched within the network, the more deflationary would be the effect.
However, the ICP is at the very early stage of development and is yet to create a developer-friendly infrastructure. But if the project is released at full capacity, ICP token may skyrocket by above 6000%.
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