Cryptocurrency has been trending with lucrative opportunities since last year. Different institutions are venturing into the crypto business as the assets seem to be the future of currency. Have you joined the crypto waves? You can take advantage of the bullish attitude of most tradeable assets to earn huge returns. Although a lot is happening in the crypto market, for now, Internet Computer stands out.
Launched on 10th May this year, Internet Computer cryptocurrency has surprised many with its enormous gains. Within a day, the virtual asset has a market value of $45 billion. Coinbase, a crypto exchange based in America, listed Internet Computer eighth. That is as far as assets that gained quicker are concerned. Now, the cryptocurrency ranks ninth, surrounded by prominent objects like Ethereum, Dogecoin, Ripple, and Bitcoin.
Internet Computer aims to provide a new product that can allow you to make content and create software. Today, if you need to publish your content on the internet, you have to use big tech companies such as Amazon or Facebook or register with cloud firms such as Microsoft or Google. Internet Computer wants to change that narrative by creating a space for more beneficial or independent ideas.
Interestingly, similar to Ethereum, Internet Computer uses smart contracts. Is the new asset trying to follow ETH bullish trends? Smart contracts may execute, update, or control data autonomously when transacting to impose the agreement’s terms. That ensures automatic actions that require no intervention.
Are we going to forget about traditional IT soon as more operations move to smart contracts? Dfinity chief scientist, Dominic Williams, declared that to the CoinDesk media platform.
Do you think that Internet Computer surged within 24 hours because of the gushy wave? That is not the case. Firstly, this is a project by Dfinity, a non-profit organization based in Zurich, and has been operating for 5 years. Internet Computer has attracted many remarkable backers such as Polychain Capital and Andreessen-Horowitz.
As Internet Computer is flourishing, Dfinity’s blockchain has the challenge to maintain its market cap, trade price, and top spot amidst volatility.