A digital token launched on Monday as the Internet Computer is already one of the largest cryptocurrencies in the world, with a market value of around $ 45 billion.
This makes them the eighth digital asset in the Top 10 of CoinMarketCap.com’s ranking. The token and its associated digital ledger are supposed to help anyone – software developers or content creators – post whatever they want to the internet, without having to go through digital giants like Amazon.com Inc. . or Facebook Inc., or to use commercial cloud servers or services. The idea is to avoid corporate walled gardens and reduce costs, according to Dominic Williams, founder of the project. Users could potentially create social media and other services that compete with the internet titans.
The coin’s underlying network uses smart contracts or software programs that perform tasks, competing with bigger rival Ethereum. He joins many other coins and related networks – Polkadot, Binance Coin among them – trying to steal the thunder from Ethereum.
The beginnings of the Internet Computer come as cryptocurrencies ranging from Bitcoin to Dogecoin are discussed everywhere, from dinner tables to Saturday Night Live, and the prices of many coins are rising. The total market value of all cryptocurrencies now stands at $ 2.48 trillion, down from less than $ 1 trillion at the start of the year. But as 2017 approaches, many of the so-called alt coins will likely fall to earth with a thud.