One of the world’s most promising cryptocurrency is now being traded on the world’s most popular and trusted cryptocurrency exchange Binance. After less than three days of BINANCE listing, internet computer’s price rose to $.5 USD. The cryptocurrency that shares similarity with Ethereum in regards to its smart contract features has seen a rise in price of over a 500% in just three days. This is amazing growth for a cryptocurrency that was trading at a price below $.03 just a week ago.
Summary of the situation
– Internet Computer ranks 9th as the best decentralized currency.
– The internet computer attempts to configure smart contracts using hardware.
Internet Computer is a new crypto-currency that surfaced on Monday and is surprisingly rising in value. According to CoinMarketCap, the decentralized currency reached a market capitalization of $35.8 billion in a matter of hours.
On Monday, the cryptocurrency’s market value rose to more than $90 billion with an estimated value of $731. But within minutes, the price dropped to $18 billion at about $146.
The Dfinity Foundation is the creator of Internet Computer and wants to make cryptocurrencies a volatile version of the Internet. The cryptocurrency blockchain uses smart contracts, similar to Ethereum technology. Thanks to this working mechanism, token makers are improving many platforms and mobile applications.
With DeFi, for example, new decentralized applications can be formed. DeFi apps create a classic financial arrangement with crypto-currencies. Programmers can even create websites and other things on the internet using the blockchain crypto currency.
Unlike Ethereum, Internet Computing has a faster and more accessible blockchain for developers. The cryptocurrency’s design optimizes the aging Ether technology, which is good news.
Internet computer and its evolution to new DeFi configurations
According to Dominic Williams, head of the Dfinity Foundation, Internet Computer has a different blockchain than Ether. This blockchain network is not cloud-based, but uses an advanced hardware system. The setup to get into DeFi will be more difficult the first time you try it, but should be very stable once completed.
This expert notes that the blockchain network will operate at the same speed as the Internet. This classic configuration avoids many problems and provides a better adjustment of the DeFi.
Williams also says the Internet computer is useful for old-school developers. Many large companies and small business owners can easily use these devices.
Internet computer card up
This crypto-currency project is well underway and has raised about $120 million. The top investors include Polychain Capital and Andreessen Horowitz, who are not shy about betting on the cryptocurrency.
Since its launch, the price of cryptocurrencies has been very volatile, which is common in the decentralized market. Although crypto-currencies are priced over time, these crypto-currencies have strong competition on the blockchain for DeFi. This includes the recent announcements of Ethereum updating to version 2.0.
The Internet Computer crypto-currency is the 9th most popular decentralized currency. But Ether, the cryptocurrency Ethereum, takes the second spot on the list as it is worth $493 billion. The system set up by Internet Computing looks promising, and it just needs to overcome the obstacles that other blockchains could potentially create for smart contracts.
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