Get to know ICP token, the next token to be listed on Tokenize Xchange
ICP token (Internet Computer Protocol) was launched just in the middle of May 2021, but its market capitalization immediately hit $80 billion, ranking above top cryptocurrencies such as Doge, XRP, or Cardano. So is ICP a good investment? Let’s get to know ICP crypto – the crypto that will be listed next week with Tokenize Blog.
What is ICP?
ICP – standing for Internet Computer Protocol is a blockchain protocol that is an innovation upon normal blockchain networks. This protocol aims for combining the high security of blockchain technology and the high-speed data processing power of the Internet.
Computer Protocol uses smart contracts (or computer codes) to create a blockchain network with easy application and high scalability that serves as an agreement to trade cryptocurrencies among parties. The protocol intends to extend the functionality of the public Internet that it could host backend software on smart contract compatible and distributed networks. Instead of Proof-of-Stake like Ethereum or Proof-of-work like Bitcoin, ICP uses queries and calls.
ICP is developed by the Dfinity Foundation, a nonprofit organization located in Zurich, Switzerland. Dfinity Foundation is considered an emerging blockchain developer team.
Is the ICP token a good investment?
ICP token is the native toke of ICP that is supposed to let users develop software or publish content on the Internet without using services from Facebook or Google. The protocol is considered a “hackproof platform” that reduces cost “dramatically“, and is supportive, according to Dfinity founder Dominic Williams. He said that ICP would intend to make the Internet space “fun again” by allowing users to have a “new open Internet”.
Through the Network Nervous System (NNS) developed by the Dfinity Foundation, users and developers will have the power to decide who can access their data. As such, the information of dApps users will not be recorded by server owners, or server developers such as Google, and Facebook. It would be an outstanding point of Internet Computer since privacy violation has been a global issue.
With a strong developer team and strong VC funding, ICP has been recognized in many countries at the time it was released. ICP token is believed to be a safe investment while its future prediction indicates profitability.
However, it is necessary to consider Internet Computer’s competitors. Ethereum is the biggest competitor to ICP token with its more decentralization compared to ICP though it has a slower processing speed and lower capacity, according to Benzinga Money.
ICP price prediction
Internet Computer was released at a price of $630 for public trading. Two days later, the token price dropped to $280, down 60% from its big debut, but still with a total market capitalization of $46 billion.
The chart below shows that the ICP token has shown a bearish trend in the past few days. If this trend continues, ICP might drop to $37 and drop even lower to $26.9.
How to buy ICP token?
From Sept 8th, 2021, users can easily sell and buy ICP on Tokenize Xchange. Don’t forget to finish KYC and start your investment journey with Internet Computer.
Above is the information about Internet Computer. The token will be listed on Tokenize Xchange! Keep following us for more market news and updates!
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***Be kindly noted that the article is the personal opinion of the writer, not Tokenize Xchange’s investment advice.
Cryptocurrencies are subjected to high market risk and volatility despite high growth potential. Users are strongly advised to do their research and invest at their own risk.