CoinMarketCap’s ranking has seen a number of projects come and go this bull run. It is not uncommon for an unknown token to make it into the top ten, which of course, raises the legitimate question of whether ICP is a legitimate project.
ICP is a project that has been in progress for five years. Developed by Switzerland-based Dfinity, it has several prominent supporters, including Silicon Valley venture capitalist Andreessen-Horowitz and Polychain Capital.
“Dfinity is one of the most enduring and best-funded smart contract platforms for crypto. But it is also one of the least understood. Most of Dfinity’s obscurity is due to its technical complexity and abstract vision. The launch of your token and eventually the open sourcing of your code will generate more interest and understanding of the project.“
The aim is to remove Internet-related concerns in their current form, including poor security and the dominance of large tech oligopolies. The company is not focusing too much on delivering blockchain technology, but the main goal is to build a free and open internet that is controlled by users.
With a network of independent data centers, apps can run on the network itself, which is unlike the current Internet, where apps run on servers most of which is controlled by Google, Amazon, and Facebook.
Dfinity technical director Stanley Jones said that instead of apps running on a dedicated Google Cloud server with internet computers, the software doesn’t have a fixed physical address as it switches between servers run by independent data centers. This means that apps can exist that no one owns or controls.
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