Internet Computer (ICP): HUGE News and Update!

The Internet Computer Protocol (ICP) is one of the most undervalued and underhyped projects in the cryptocurrency space! With the introduction of ckBTC, surging developer activity, and overall growth in the ICP and Bitcoin ecosystem, ICP is gearing up for a massive run in this bull market!

Disclaimer:
This video is strictly personal opinions & not financial advice.

#icp #internetcomputer #crypto

ICP has rallied over 55% from its low of $9.50 back on January 23rd so one month ago to today and in this video we’re going to talk about why this is just the beginning of another massive leg up for ICP we’re going to talk about what Dominic Williams the founder of definity

Talked about what he’s looking to do to bring more users onto ICP we’re going to talk about their CK BTC and how that is looking to change Bitcoin uh but taking a look here at the ICP chart before we get into some articles here this is a

Great looking daily chart as we are making higher lows and higher highs this is what you want to see from a strong chart now charts aside what are some of the things that happened in to ICP in 2023 it was a pretty big year even though prices were quelled for a

Majority of the year uh due to being in the bare Market onchain statistics were absolutely explo floating in iccp taking a look here from their medium blog page developer growth the ICP developer Community was not immune talking about losing developers in the first few quarters but the year still closed with

A 30% increase despite the slow start confirming this growth is a fact that the ICP developer Community has been moving up the ranks across all crypto ecosystems now in the top five with a 56% rise in GitHub repos also some topology and Hardware upgrades 2023 was a year for massive

Improvements in node decentralization with a 67% increase in node providers the number of countries with node machines has doubled jumping from 9 to 22 and the number of unique data centers also shot up from 40 to 105 more than doubling and we also have some tokenomics here according to the nns

Metrics there was a continuous inflow of staked ICP tokens in 2023 averaging 1.7 million tokens per month coming from new sources while the amount of dissolving ICP rapidly decreased by the close of the year which is a good indicator that members participating in governance are showing commitment and are in it for the

Long haul now I mentioned Dominic Williams the founder of definity uh what he wants to do to bring more people to ICP well here it is defini Dominic Williams says Enterprises will be key for icp’s growth ICP has quietly become the 18th most valuable digital assets after starting 2023 as the 34th largest

Williams said developing solutions for large companies may be key to the protocol’s growth he said quote it’s not just about web 3 the vision for the internet computer is also about Enterprise ICP builds itself as serving web pages through smart contracts he goes on to say our objective is to

Enable people to create absolutely any kind of backend system or any online system exclusively from Smart contracts on ICP this also talks about cyber crime and how they’re looking to fight it and I do want to highlight here some recent initiatives the project has aligned itself with the wave of interest in AI

Which came in last year on the back of chat gpt’s release the definity foundation launched a $5 million grant for projects developing AI Solutions on on the internet computer Williams showed the defiant this article that I’m referencing a chat application called open chat where he had sent icp’s

Mirrored version of Bitcoin to another user ICP is working to integrate similarly with ethereum we’re going to talk about the Bitcoin on ICP the CK BTC here in a second but we have this as well as ICP is expanding globally build on ICP the first hackathon in Port

Portugal spanning a week the hackathon will focus on cultivating new Talent on the internet computer protocol and providing a platform for them to Showcase their work and contribute to the ecosystem the only condition is that ideas should be new to the ecosystem hacking will take place from February

26th to March 4th of this year in 2024 again in Portugal then we have this uh bitfinity to create a Bitcoin side chain Solution on the internet computer bitfinity network which is a web3 infrastructure company has raised $7 million from poly chain capital and Pary These funds will

Be used to create an offchain infrastructure for Bitcoin and ordinals precisely the race coincided with the development of the bitfinity ethereum virtual machine also known as an evm which is a side chain integrated into the internet computer protocol the bitfinity evm will have several several features including having a fully

Centralized stack backed by solidity with its front end hosted on the internet computer most importantly solidity smart contracts will gain access to CK BTC which is backed one to one by Bitcoin we’ll get into CK BTC and how that could potentially change the entire not just ICP indust ecosystem but

The crypto ecosystem as well this is a quote here this from the bitfinity uh one of the bitfinity executives the founder this backing reaffirmed our mission to bring greater utility to developers within the solidity Bitcoin and ICP communities the upcoming launch of the evm will enable the deployment of

Evm daps with speeds 100 times faster than ethereum and at a fraction of the cost interesting that they chose to build on ICP one of the most decentralized projects out there when it comes to things like data storage and their canisters and here we go internet computer price skyrockets as ckb BTC

Assets jump internet computers pric was one of the best performing cryptos this pre this Monday so 4 days ago as a crypto industry Rose as a whole internet computers price has done modestly well since the developers launched the CK Bitcoin token which is a Bitcoin twin this is an important part of the

Ecosystem as demand for Bitcoin focused assets jump one of the big narratives a lot of the pundits and and uh experienced Traders and and really the researchers today is going to be the Bitcoin ecosystem whether that’s nfts and ordinals Bitcoin defi we’re seeing a lot of projects start to expand on the

Bitcoin Network we know some of the the drawbacks of Bitcoin being slow clunky extremely extremely uh expensive and so ICP is looking to alleviate some of those and allow these people to build the projects they want to build on on IP but leveraging Bitcoin as well so the

Most recent data shows that demand for CK BTC is growing as you can see here from defi Lama uh this chart here shows a rise from about 6 million back in on Christmas of last year to over 13 million today um and making it the sixth largest player in the Bitcoin ecosystem

You might be asking what the hell is CK BTC is it another wrapped Bitcoin asset right no it is not and here from the ICP website CK BTC is Bitcoin on web 3 it is a multi-chain Bitcoin twin trustless created by Chain key cryptography and internet computer smart contracts that

Directly hold the raw Bitcoin you can hold send and receive native Bitcoin as if the internet computer and the Bitcoin Network were one blockchain no Bridges or offchain intermediaries uh scrolling down here just a few other things I’ve highlighted here so here are the wallets and I’ll

Leave this up here for a quick second here are the wallets that are currently supporting this CK BTC you have ICD uh IC Dex uh nns which is I believe the biggest one and then astrox and airgap as well here are some things you need to

Know about CK Bitcoin and why it is not a bridged token the key Innovations behind the CK BTC are the native Bitcoin integration and chain key signing in short the chain key is a set of cryptographic protocols that allow internet computer nodes to cooperatively create the signatures that can be used

To sign the Bitcoin transactions this enables a pair of canister smart contracts to trustless create the CK Bitcoin which is a multi-chain Bitcoin twin that can be controlled by smart contracts and sent with near instant finality for negligible fees all without the need for Bridges or centralized

Custodians you have things like Ren BTC right from the ren protocol and these are centralized entities that are creating a derivative of Bitcoin that lives on their chain but it’s not it has no ties to the actual Bitcoin ICP is looking to flip that entire model on its

Head in the version of a decentralized way ICP is one of the most slept on undervalued projects in the cryptocurrency ecosystem today after a failed launch after the greedy people over at Alam and S bangman freed after they drove the price up of ICP and then tanked it simultaneously a lot of people

Have been sleeping on ICP but I advise you do not sleep on ICP what are your thoughts do you have any ICP in your portfolio let us know what you think come check out our live show Monday through Friday at 2 p.m. Eastern Standard Time and we’ll see you in the

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