A digital currency launched Monday called Internet Computer is already one of the largest cryptocurrencies in the world, with a market capitalisation of about $45 billion.
This makes it the 8th largest digital asset among the top 10 in CoinMarketCap.com rankings, according to BusinessInsider.
The token and the related ledger are supposed to help anyone – software developers or content creators – to post whatever they want on the internet, without having to go through digital giants like Amazon.com or Facebook or use servers or cloud services. The idea is to avoid closed platforms and reduce costs, according to Dominic Williams, the project’s founder. Users can theoretically build social media and other services that will compete with internet titans.
The underlying currency network uses smart contracts or software programs that perform tasks, competing with big names similar to Ethereum. It is co-created with other currencies and affiliated networks – including Polkadot and Binance Coin – that seek to steal the glory of Ethereum.
The timing of the Internet Computer “premiere” could not have been better, as Bitcoin to Dogecoin saw an explosive increase in the value and demand for cryptocurrencies.
Today, in fact, the total market value amounts to 2.48 trillion dollars, when at the beginning of 2021 it was just under 1 trillion.