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- Internet Computer Community enabled 1-proposal of the SNS initialization feature.
- ICP has experienced a significant surge of over 3% in the last 24 hours.
DFINITY developers, the developers building on the Internet Computer Protocol, announced that the ICP community has adopted all the proposals. Moreover, the 1-proposal of the SNS initialization feature is enabled. In August 2023, the NNS voted to release the new version of SNS with a new and simplified process.
All proposals have been adopted by the #ICP community, and the 1-proposal SNS initialization feature is enabled! 🎉🎉
— DFINITY Developers ∞ (@DFINITYDev) August 28, 2023
Thank you all for voting! See, the documentation here:https://t.co/FnCVvsCVgb
You can also try it out by running SNS locally:https://t.co/ZsJ927uPA4 pic.twitter.com/zAK2EtLVxV
On August 28, DFINITY developers shared a tweet about announcing the launch of 1-Proposal. The new launch process only requires one NNS proposal. That will trigger the creation of SNS canisters as well as starting and finishing the decentralized swap. Moreover, some of the dapps projects have already started planning and testing the SNS launch.
Internet Computer Actively Shaping Blockchain Ecosystem
The Service Nervous System (SNS) is an advanced form of a DAO. It is a digital democracy that can run any dapps, such as social networks, in a fully decentralized way. Moreover, an SNS derives from a Network Nervous System (NNS), the autonomous tokenized governance system that controls the Internet Computer blockchain in a completely decentralized way.
The Internet Computer Community is continuously shaping the blockchain’s features and upgrades with a list of technical updates. The DFINITY Foundation has proposed a partnership with developers and stakeholders to allow entrepreneurs and developers to create a decentralized and tokenized governance system for their dapps. Service Nervous System is one of the proposals among them all.
The launch of 1-Proposal SNS enables the Dapp to have sufficient cycles to run, develop additional features, and scale with demand. Moreover, SNS facilitates token-based governance that can also be used to attract users to their Dapps and drive network effects to extend their reach. On the other hand, Internet Computer (ICP) has experienced a significant surge in the last 24 hours.
At the time of writing, the Internet Computer has been trading at $3.54, with an increase of over 3.16% in the last 24 hours. The daily trading volume of ICP has experienced a surge of around 169.59%, according to CoinMarketCap.