Yesterday I was informed about a new token being traded out in the cryptocurrency space called Internet Computer. It is already available on major centralized exchanges like Coinbase, but the fact that I had heard nothing about it until it was launched was fascinating to me. I decided to do some research on the token and protocol and try to make sense of it.

What Is It?

The Internet Computer is a protocol founded by the Dfinity Foundation in Switzerland. The point of the protocol is to take back agency for the individual regarding development of software on the internet from the hands of big tech companies such as Google.

It seems that the general goal of the protocol is to create more freedom on the internet and lower costs for the production of new innovative platforms and software.

Here is the official definition from their website:

The last original Layer 1 blockchain project is launching a revolutionary public network that provides a limitless environment for smart contracts that run at web speed, serve web, scale, and reduce compute costs by a million times or more. Build everything from DeFi, to mass market tokenized social media services that run on-chain, or extend Ethereum dapps. Chase the blockchain singularity ∞ <

Their timeline focuses on providing serverless cloud usage and providing a space for "open and secure" internet services.

This seems to be their end goal:

The Internet Computer extends the internet — enabling developers to natively host special “software canisters” and data. Formed by an open protocol that combines massive compute capacity provided by a global network of independent data centers. The Internet Computer is secure and unstoppable, and built for websites, enterprise systems, smart contracts, DeFi systems, and a new breed of open internet services that runs as part of the fabric of the Internet itself — reversing Big Tech's monopolization of the internet, and ensuring a more collaborative future.

Lofty goals for sure, but truly exciting if it were to be successful as tech giants would begin losing their chokehold on the internet's functionality.

With their protocol, queries happen in miliseconds, software updates are done in seconds and their blockchain will be running 2.5 blocks every second... Very impressive speed.

Similarities To Hive: Conflict Or Synergy?

Now I don't know about you, but the concept that this project is seeking to push forward reminds me a lot of Hive. It is attempting to move innovation and power away from centralized sources and enticing users with... incredibly quick networks, scalability, minimal fees, smart contract capability.

To me the two share a lot of the same visions for the internet of the future. I was thinking about it and wondering whether or not these two ecosystems could coexist and grow together or if one would have to win out over the other.

I may be incorrect, but my view is that the Internet Computer Protocol is seeking to provide a positive sum product. I believe that Hive can find a way to integrate with this protocol to gain exposure to other blockchains that have migrated some of their protocols over to the Internet Computer network. I am seeing this as a possible source of cohesion and glue between networks that are currently in existence.

Imagine if this protocol is what helps connect Hive to say the Ethereum network or one of the many other successful blockchains.

It is my opinion that there does not need to be one blockchain to rule them all. I believe it was @taskmaster4450le that told me that the future will be a web of blockchains and not just one chain. This protocol seems to be a concrete step in reaching that future.

Perhaps I am being naïve, but I am very excited for this protocol to continue gaining traction.

Token Information

After launching checks notes just FOUR DAYS AGO, this token is already the 9th ranked cryptocurrency by market cap.

The token price peaked around $731 during the first few minutes it was listed and is now trading around $300. It is available on Coinbase, Binance, Kucoin and more as it has 26 trading pairs according to Coin Market Cap.

The token itself has a few complex use cases within the network, but in simple terms it seems to be a governance and reward token for network participation and upgrades. Pretty much the usual here.

Should You Buy?

I did. Do your own research though because I am most definitely not a trustworthy investment source. I hope you are able to find information on this token easily and I look forward to seeing what protocols will integrate with it in the future!

@mariosfame gif once again, I love it

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