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Is ICP a good buy opportunity in April 2022?

Altcoins

invezz.com 24 March 2022 20:27, UTC
  
Reading time: ~3 m

The Internet Computer ICP/USD has weakened from the record highs above $35, registered in January 2022, below $15, and the current price stands at $19.18.

Integration with Bitcoin

The Internet Computer is the world’s first blockchain that runs at web speed and serves content on the web with unbounded capacity.

The activity of developers and entrepreneurs on this blockchain is rising due to the fact that the most popular social apps, DeFi platforms, e-commerce sites, and even enterprise systems can be reimagined as decentralized services on the Internet Computer.

The Quick Start tutorial available on the official website of the Internet Computer helps you to figure out how to create, build, and deploy your first dapp.

Motoko is the native language of the Internet Computer, while the DFINITY Foundation is developing technology for the Internet Computer blockchain.

The DFINITY Foundation is a not-for-profit organization headquartered in Zürich that has a team of experienced cryptographers, computer scientists, and engineers.

ICP token is the utility token of the Internet Computer ecosystem, and it plays a key role in governance. Members of the community can lock up ICP tokens in a stake, called a neuron, to submit and vote on proposals.

Developers use ICP tokens to pay for running canister smart contracts that deliver products and services to the market.

The platform sets limits on how many cycles a canister can hold and consume to prevent malicious code from draining resources, but it is important to say that canister smart contracts must be able to pay for complete execution.

ICP tokens reflect the value of the Internet Computer blockchain; they can be exchanged between token holders and also used to reward node providers for providing compute capacity.

The Internet Computer reported that it developed a novel system that interfaces directly with the Bitcoin blockchain, and according to the Dfinity roadmap, the launch of the bitcoin integration is set for the end of Q1 2022. The DFINITY Foundation added:

By integrating directly with the Bitcoin network, real BTC is able to be directly used within the Internet Computer smart contract framework. Programmers and app builders can already build smart contracts (canisters) that receive, hold, and send bitcoin on a local development testnet.

ICP is trading below $20

The Internet Computer has experienced tremendous growth in its user activity since the beginning of the 2022 year, and the price of ICP has reached levels above $35 in January 2022.

Since then, the price has weakened, daily trading volume remains weak; still, the Internet Computer is a project that has a future, and the price of ICP could advance again at levels that we saw in January 2022.

Summary

The Internet Computer is the world’s first blockchain that runs at web speed, and according to the latest news, it has developed a novel system that interfaces directly with the Bitcoin blockchain. ICP token is the utility token of the Internet Computer ecosystem, and the price of ICP could advance again at levels that we saw in January 2022.

*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.


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