As many of you saw, a “new” coin just popped into the number 6 spot on CMC literally out of nowhere. Internet Computer was listed simultaneously on the biggest exchanges, and here’s what I know so far.
TLDR: Internet Computer is a rebrand of “Dfinity” that plans to merge Internet and Blockchain creating “Web 4.0” that is a trustless, net speed, ever-expandable, open source blockchain-internet system (THIS IS A GROSS OVERSIMPLIFICATION)
**Disclaimer**: I just learned about this project today and am doing my best to wrap my head around it. Those who know more about it please comment and let us know your thoughts.
Internet Computer is a rebrand of a company that started fundraising in 2016, formerly known as “Dfinity”. ICP is a completely new type of blockchain that merges blockchain tech with the internet, completely revamping Internet Technology as we know it.
The whole schtick seems to be to create a trustless, open source, collaborative, blockchain based web that operates at net speed and is infinitely scalable. Using blockchain tech in an internet system takes out the vulnerability of the system by way of the same security mechanism that protects every blockchain which is the logic-based, mathematic systems underlying its protocol that ensures the code operates in a tamperproof fashion.
This is a GROSS simplification of what this project is and does, but for you tech monkeys, here’s a link to an article that provides an incredible amount of detail on what the project is, what it does, and what the next 20 years could look like for the project. I haven’t, yet, had time to do a full deep dive into this article, but I do suggest at least giving it a skim and checking out what this project has to offer.
I’m quite new to this space, but have spent the past months studying about blockchain tech as much as I could in my free time and this is, by far, the most promising blockchain tech I have seen to date, and the possibilities are truly boundless. If there was ever a project to earn the title “Bitcoin Killer”…this might be the one.
Sorry, again, for the oversimplification, but I wanted to take a moment to explain to some who weren’t sure what this project is. It isn’t a new project that just popped up and grabbed the number 6 spot. Be sure to read up on the tokenomics before investing if you decide to do so because much of the supply is locked for several months which could greatly devalue the price.
Article Explaining ICP in GREAT detail: [https://medium.com/dfinity/announcing-internet-computer-mainnet-and-a-20-year-roadmap-790e56cbe04a](https://medium.com/dfinity/announcing-internet-computer-mainnet-and-a-20-year-roadmap-790e56cbe04a)