Internet Computer
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Information about Internet Computer (ICP)
Internet Computer Protocol is a decentralized blockchain platform capable of operating, building, and managing data networks by combining the computing power of nodes running on servers worldwide. DFinity organization wants to create an Internet Computer to apply the power of blockchain to the task of data centers.
Internet Computer was created to solve the problems of today’s data center systems, that is, the ability to secure information and the monopoly of cloud computing service providers. Using the Network Nervous System (NNS) administration system, the Internet Computer Protocol allows users and developers to determine data access and management. This will ensure that server developers, such as Google and Facebook, do not compromise user information.
Internet Computer Protocol operates on a Proof-of-Stake consensus mechanism, allowing the platform to maintain decentralization and ensure security and resistance to attacks from attackers. These features have made the Internet Computer Protocol successful in attracting many investors who believe in the potential of this project and join in financing its development.
Internet Computer Token (ICP) is a utility token on the Dfinity blockchain platform, used for the following purposes:
- Vote on proposals or receive rewards based on participation in the governance process.
- Pay transaction fees when a user interacts, creates, or uses an application on the platform.
News
The U.S. District Judge James Donato ruled to dismiss the class action lawsuit against Dfinity, emphasizing it was filed too late. The judge noted that Dfinity initially offered ICP tokens in February 2017, rendering the August 2021 lawsuit outside the legally acceptable timeframe.
The plaintiffs did not effectively counter Dfinity’s arguments, leading to a warranted dismissal of the claims. The previous legal representation faced criticism due to accusations of misusing litigation for information extraction, further complicating the case.
Bitcoin is currently priced at 98,268 USD, witnessing a weekly increase of 4%, which indicates solid demand. Investor sentiment has shifted positively after observing substantial inflows into Bitcoin ETFs following earlier outflows. This dynamic hints at potential for Bitcoin to resume its uptrend and possibly breach the 100,000 USD mark.
Solana faces resistance yet shows bullish strength, which might elevate its price. SUI has resumed its uptrend, requiring continuous support to sustain its momentum. These dynamics suggest a promising outlook for these altcoins, especially if Bitcoin surpasses the 100,000 USD Threshold, which could further boost their trajectory.
Internet Computer is experiencing positive price action, with potential growth towards resistance levels. Meanwhile, Ethena forms a bullish pattern indicating significant upward potential. A sustained upward Movement in Bitcoin could act as a catalyst for these altcoins, thus highlighting the importance of the broader market dynamics at play.
Bitcoin reached a peak of 98,976 USD, the highest level since December last year. Despite the surge, analysts suggest caution due to low trading volumes, which might affect future growth potential. Increased volume will be essential for sustaining upward momentum.
On January 3, US tech stocks saw substantial gains, leading to an overall market recovery. Noteworthy was Nvidia’s 4.7% rise and SUPER Micro Computer’s 10.9% increase. These gains were attributed to ongoing investments in AI developments, including Microsoft’s announcement of an 80 billion USD AI project.
The altcoin market showed impressive recovery, with projects like Internet Computer and The Sandbox experiencing notable growth. This general uplift in altcoin performance helped improve market sentiment, supporting a double-digit increase across several tokens, including ETH, DOGE, SAND, and others.
According to BlockBeats, Internet Computer officially launched the ICP Hub Accelerator Program to assist early-stage blockchain projects in transforming their concepts into market solutions.
It aims to establish a robust blockchain innovation ecosystem and promote technological advancement within the ICP community.
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