Tracking the prices of cryptocurrencies, which are in high demand in the crypto market today, it is important to explore new projects. In the cryptocurrency space, Internet Computer (ICP) is attracting special attention. Today, according to CoinMarketCap, ICP Coin ranks 29th in market capitalization.
ICP: what is it and what is it for?
It is a unique project that fully embodies the idea of decentralization. However, it does not concern electronic money, but is aimed at the global cloud infrastructure. It can be called a "World Computer" aimed to replace traditional IT technologies, thereby creating a new generation of applications and Web3 services that fully function on the blockchain.
ICP positions itself as an enhanced version of the Ethereum network's capabilities. If we compare this project with others from the Web2 field, its main competitors are Google Cloud and Microsoft Azure. Internet Computer is aimed at solving two problems:
- Cheap and safe data storage.
- Improvement of modern IT.
Because of this, there are prospects for the price of cryptocurrency, as the project will reduce costs in IT, redirect technical resources to more productive tasks, significantly simplify the development of internet services. In addition, the speed of technical development's market entry will increase. With ICP, developers will be able to write scalable code. Thus, the production of internet services for the mass market is significantly simplified.
What else you need to know about ICP: cryptocurrency
The ICP cryptocurrency is the native token of the Internet Computer blockchain, which is applicable for paying fees, making decisions on the network, and receiving rewards through staking. The real-time cryptocurrency rate is $4.75.
- ICP is the source of "Cycles", it is allowed to burn the token in exchange for them. As a result, the project's tokenomics deflation is maintained.
- The crypto is suitable for staking in the DAO, which is responsible for managing the blockchain, creating neurons for voting. Receiving only issued ICP as a reward for voting and node provision, you just need to understand what the cost of cryptocurrency depends on to choose the right time to hold coins.
- Means of saving. You can invest in decentralized sales that are managed by Web3 services.
In addition, the token is suitable for trading on specialized platforms for cryptocurrencies. Thanks to the volatility of the coin, you can earn on swing trading or arbitrage. Most crypto exchanges allow buying, selling, and storing ICP. One of these platforms is WhiteBIT, where the token is available in a pair with USDT.
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