Internet Computer: Fast-Rising Crypto Challenging Amazon and MicrosoftA Crypto asset that was barely launched to the public, a few days ago has already made it to the top ten ranked crypto by market value.
Internet Computer at the time this report was drafted, is currently the eighth-most valuable crypto with a market value of about $43 Billion.
Though recent price actions reveal the token has suffered some pullbacks some hours ago, investors are however betting high on the crypto because it enables anyone publish anything they want onto the internet with so much ease without going through cloud service providers like Microsoft and Amazon with the main objective of reducing operational costs.
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The Internet Computer traded at $346.91 with a daily trading volume of $1.3 Billion. The Crypto founded by Dominic Williams is down 22% for the day.
The project’s token is already listed on a number of high-profile crypto exchanges that includes Binance, Coinbase, OKEx
The newly listed crypto asset is the first blockchain that operates on web speed with unrestricted capacity with a capability of scaling contract computation and data, processes and keeps data adequately, and most importantly facilitates powerful software frameworks to developers.
The Internet Computer’s functionality is similar to Ethereum, taking to account it depends on the use of smart contracts, or software programs in carrying out instructions, thereby competing with other related networks that include Binance Coin Polkadot fighting hard to steal Ethereum’s market share.
The company has been able to raise about $121 million from leading venture capital firms that include, SV Angel, Aspect Ventures, ZeroEx, Scalar Capital, Andreessen Horowitz, Polychain Capital, Electric Capital, Multicoin Capital, and several Ethereum fans.
Internet Computer officially went open-source on Monday a move that will permit developers in building the code and affirm that it derives from the same binary image that is referenced in upgrade proposals issued via the Network Nervous System