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Sunday, August 14, 2022

Dfinity Token Has Already Witnessed Quite A Trade On The First Day

The Dfinity launch saw quite a violent first day, as most users were quite interested in the utility token of the Internet computer. No wonder the trading was extreme as it debuted after quite a long time. The token of ICP for this utility has found itself listed on Coinbase PRO along with quite a few other exchanges which include Huobi Global, Binance, OKEx, and others on Tuesday.

Four hours into its launch, the prices for this token went from $700 to $250, after which it recovered its prices to around 70% to settle at $425 after ten hours. According to CoinGecko, the ICP token traded around $1.8 billion in just 14 hours. 

Dfinity Internet Computer- An Aim To Dispense Tech Monopolies Throughout

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Dfinity token is an Internet Computer that is nothing more than a decentralized blockchain which is developed by the Dfinity Foundation. According to the company, the mission of this protocol expands the very functionality of the public internet from the only network which is going to connect billions of users. This would be done through the use of standard protocols which would be connected to a global supercomputer. The main benefit- the reduction of Tech monopoly.

This Internet computer would attempt to do away with the IT industry worth a trillion dollars- which would allow developers to bring out their main code for the public. This ensures that they don’t have to deal with the middlemen like servers, companies, and other commercial cloud services.

Working similar to Ethereum, Dfinity would allow most developers to put forward their computing application through a decentralized infrastructure. Yet, this ICP token is said to have far greater scalability than the layer one mainnet that Ethereum possesses. 

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