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Internet Computer (ICP) is flipping the switch

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Internet Computer (ICP) is flipping the switch

The ecosystem around the Internet computer is growing. Two platforms recorded an increase to 20,000 users. The ICP course reacts with gains.

Compared to the hype triggered by the Internet Computer (ICP) when it was launched in early May, the decentralized Web 3.0 project that has declared war on Google and Facebook has recently become quiet. The ICP token raised a market capitalization of over 20 billion US dollars practically overnight, and after a brief soaring to 700 US dollars, the price leveled off at 460 US dollars on the exchanges. But the course fireworks should turn out to be a false start. The ICP price has – also due to the general imbalance on the crypto market – as a result of a miserable price performance. Just a month after the record high, an ICP token was still worth just under $ 20.

Since then, however, the growth curve has straightened up again. At the time of going to press, the ICP is trading at $ 75. Compared to the previous day, the token was able to gain 14 percent and thus underline a strong weekly trend. In a 7-day comparison, the cryptocurrency recorded an increase in value of an impressive 86 percent. In addition to the current optimistic mood in the crypto market, the upturn can be explained in particular by the increasing adoption of the blockchain protocol.

ICP adoption: district user numbers are increasing

On August 7th, the DFINITY Foundation, behind the Internet Computer, launched the social network district on the internet computer famous. The platform aims to act as a counterbalance to LinkedIn, Twitter and Medium, “with the difference that it is decentralized, managed by the users and owned by the users”. 20,000 users have already registered with the still young platform.

We envision a future where people can enjoy all the benefits of social media platforms without paying for it with their data and privacy. As a district user, you own your data and your identity. You don’t have to be the product just to enjoy the product.

district co-founder Andra Georgescu

Similar to Twitter and Co., text snippets can be set up via district, with the difference that users retain control of their data on the blockchain-based platform. A token system will also be used in future for governance decisions. The native token is intended to “offer users incentives to participate in the autonomous administration by granting them voting rights to decide on the proposals submitted for examination”. The token is not yet listed.

DSCVR: Decentralized Reddit alternative

Around 20,000 users can now also be found on DSCVR, a “decentralized aggregator for social content” that is also based on the Internet computer. The platform wants to represent an alternative to Reddit, which, contrary to popular belief, is operated by the media group Advance Publications, which publishes, among other things, the fashion magazine Vogue. DSCVR, pronounced Discover, works very similarly to the template, with the difference that “users not only control the content, but also the platform itself”. At DSCVR, governance rights are covered by a two-token system: social tokens and service tokens, which each represent 50 percent of the voting rights. The platform is currently still in the beta phase.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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