Reinventing the internet
Just when you thought things in the crypto space couldn’t get any crazier with the hype around Dogecoin, the community jumping on the NFT train and breathtaking price swings, a brand-new project - The Internet Computer - has entered the space. It is not only set to disrupt the industry, but also to change the internet as we know it.
What is The Internet Computer (ICP)?
A newcomer rockets to a market cap of over $30 billion within a few days: The Internet Computer with its ICP Token. Developed by Dfinity Foundation with a mission to decentralise the internet as we know it, this intriguing project is bound to leave its mark on the future of the internet.
It is a common issue: entrepreneurs who build online services atop the proprietary infrastructure of large private tech companies may encounter platform risks if most of the users arrive via one or just a few channels.
The major providers behind such platforms as holders of monopolistic positions may revoke certain rights from the companies or change underlying technologies and regulations.
"The #InternetComputer is the culmination of five years of intense research and development by many of the world’s top cryptographers and distributed systems and programming language experts." https://t.co/Xvel3TGP6F by @crypto_ninjas
— DFINITY Foundation (@dfinity) May 7, 2021
Open internet services
The Internet Computer project wants to extend the functionality of the public internet based on a protocol combining thousands of data centres to provide “open internet services” updated by an open governance system to reverse monopolisation of the net by tech giants and social media platforms.
The underlying Internet Computer Protocol (ICP) is based on interoperable building blocks called software canisters and enables developers to build their systems directly on the public Internet. The objective is a tamper-proof, highly scalable environment with agents sharing their functionality and data with other services that communicate with each other using permanent APIs, creating a seamless and secure realm.
The cryptocurrency of The Internet Protocol is the ICP token which is used as payment for network transactions in cycles, network governance and rewarding network participants. Find out more about The Internet Computer on their official website.
SOL, 1INCH and IOST on Bitpanda
And because our Bitpanda community has been asking, we added further coins for you to trade, not one, not two, but three: Solana (SOL), 1inch (1INCH) and IOST (IOST).
About Solana (SOL)
Solana (SOL) is aiming to scale blockchain for global adoption by providing open and fair infrastructure as well as access to decentralised finance on a large scale. Based on a smart contract platform, Solana hosts decentralised applications that can’t be run on Ethereum. Solana has a hybrid consensus mechanism based on Proof of History (PoH) combined with Proof of Stake (PoS). The network can process up to 50k transactions per second, making it one of the fastest blockchains operating. Its native token is SOL with a maximum supply capped at 489 million. Effective immediately, you can start trading SOL on Bitpanda.
About 1INCH and IOST
Finally, we welcome 1inch and IOST to Bitpanda – they are both ready for you to trade and swap. 1inch provides multiple sources of liquidity as one of the world’s leading DEX aggregating services and acts like a search engine for trading, while IOST is paving the road for blockchain towards mass adoption by creating the underlying architecture for secure and scalable decentralised online services.
Make sure you keep checking our blog for more news soon!
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