Altcoins News
By Sydney TheCMO
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If you regularly keep tabs on the crypto world, chances are that you noticed the debut of a new token called Internet Computer with the ticker ICP on Coinmarketcap in May.
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ICP traded as high as $460 on May 10 and peaked above $580 the following day before embarking on a downward spiral which has seen the price drop to its current price at $80.
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The ICP chart indicates that the token has been rapidly losing value, almost as if it is a project that was created to enrich the early adopters and its creators.
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The Internet Computer had its origins under the name Dfinity before it was changed to its current name.
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The Internet Computer features data centers that are spread across the world which will host subnets to support the entire network.
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Users on the Internet Computer will not have to pay for anything on the network unless it is something like a decentralized exchange or lending protocol that requires transaction…
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The ICP token is used to provide network rewards to voters who participate in governance, to pay for the canister fees necessary for running websites and applications on the…
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Ultimately, the demand for ICP will thus depend on whether the Internet Computer will be attractive enough to attract a lot of developers who will want to launch websites or apps…
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There have been some concerns such as the need to have an internet identity that will centralize power and pave way for censorship and too much control.
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In a way, the internet Computer appears to be delivering a more convenient internet experience but the concern is that it is not as decentralized as it claims and the…
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