Following its Friday launch, the “Internet Computer” (ICP) token has become the 4th-largest cryptocurrency by market cap, according to data from CoinMarketCap.com.
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How did this happen? The project’s token, named Internet Computer Price (ICP), has been launching on a number of high-profile cryptocurrency exchanges throughout the course of the last week, including OKEx, Huobi, Binance, Gate.io, Coinbase and others.
The sudden appearance of the token in such a high place on CoinMarketCap’s official rankings has stunned a number of analysts within the blockchain community.
However, while the ICP token may have only recently launched, the project has actually been in the works for five years, developed by Zurich-based non-for-profit organization, Dfinity. It has also attracted several impressive backers, including Andreessen-Horowitz and Polychain Capital.
According to CoinDesk, the project launched late last week with “multiple ecosystem companies,” including “Enso Finance (a decentralized exchange), Distrikt (a professional social network), Fleek (infrastructure for the decentralized web) and Origyn (a provenance platform for luxury goods), among several others.”
Some Crypto Community Members Are Skeptical of the Internet Computer
The project’s aims are ambitious. Dominic Williams, the Chief Scientist at Dfinity, reportedly told CoinDesk that: “We want people to abandon traditional IT and move all systems and services to smart contracts.”
Internet Computer Association (ICA)
– Geneva not-for-profit
– Advocates for Internet Computer
– Coords & supports ecosystem participants
Excited to see what the ICA can do for the ecosystem.https://t.co/wfUJfhfRAE
— Dominic Williams ∞ (@dominic_w) May 11, 2021
What are your thoughts on the Internet Computer? Let us know in the comments below.