Dominic Williams, chief scientist at DFINITY Foundation, shared major upgrades implemented across the Internet Computer blockchain protocol.

Williams shared an updated Internet Computer Internet Computer
icp
-3.22%
Internet Computer deck detailing new developments on the self-styled “World Computer” decentralized network. Perhaps the boldest claim in the document said ICP-native applications boast cyber attack immunity.

ICP has also introduced automated processes for decentralized autonomous organizations and on-chain governance. In other words, an AI model can manage tasks when community members submit proposals.

AI DAO tools on ICP can also finalize the proposal’s parameters if it gains community approval, reducing the chances of human errors and code bugs. Williams and the DFINITY Foundation noted that these updates have significantly boosted on-chain compute on ICP’s network, with the updated deck highlighting a 500% year-on-year growth in this area.

DFINITY Foundation spun out from Ethereum’s community in 2015 and launched the open-source ICP protocol in May 2021. ICP envisions itself as a global decentralized chain where anyone can build anything. ♾️

Source: https://crypto.news/dfinity-president-notes-500-yoy-icp-compute-growth/

Internet Computer

Dominic Williams, chief scientist at DFINITY Foundation, shared major upgrades implemented across the Internet Computer blockchain protocol.

Williams shared an updated Internet Computer Internet Computer
icp
-3.22%
Internet Computer deck detailing new developments on the self-styled “World Computer” decentralized network. Perhaps the boldest claim in the document said ICP-native applications boast cyber attack immunity.

ICP has also introduced automated processes for decentralized autonomous organizations and on-chain governance. In other words, an AI model can manage tasks when community members submit proposals.

AI DAO tools on ICP can also finalize the proposal’s parameters if it gains community approval, reducing the chances of human errors and code bugs. Williams and the DFINITY Foundation noted that these updates have significantly boosted on-chain compute on ICP’s network, with the updated deck highlighting a 500% year-on-year growth in this area.

DFINITY Foundation spun out from Ethereum’s community in 2015 and launched the open-source ICP protocol in May 2021. ICP envisions itself as a global decentralized chain where anyone can build anything. ♾️ 

Source: https://crypto.news/dfinity-president-notes-500-yoy-icp-compute-growth/

DFINITY president notes 500% YoY ICP compute growth

Athira Raveendran

Cyrator’s current micro reviews highlight well why ICP is a project which has solid fundamentals, however in this review I aim to shed light on the potential intriguing storey its current price action and technical aspects are telling me.

Despite pretty much a 99% plummet in price and a persistent downward trajectory since its launch, there lies an intriguing prospect within its current chart dynamics. As I have mentioned before, sometimes the most unattractive charts have a history of unveiling the most bountiful opportunities and this may appear to be the case here.

When I go to the weekly chart I envision the possibility that ICP is concluding a phase B within the framework of a classic Wyckoff accumulation pattern. IF price breaches its current low at $3.33 to put in a 'spring' and subsequently reclaims this level via either a swing failure pattern or a failed auction type move acting as the 'test', this would signal a very strong 5* buying opportunity for myself.

This setup would have a clear invalidation situated beneath the low that would be put in on the spring move, serving as a safeguard for stop-loss placements, and I would then be looking to potentially yield a several hundred percentage move from its sign of strength and subsequent break out.

A noteworthy fact is that its previous all-time high remains a staggering 13,000% away. While such a target will definitely not be my primary focus, it is usually the case that accumulation patterns which have been built up over a long period of time tend to generate substantial gains so I would not be selling all of my position too early.
4 months later….. phase D is now complete. (See new updated chart below)

What an accumulation pattern this was.

Could not have played out anymore perfectly.

A lovely failed auction under $3.33 and once price reclaimed this level it, continually grinded up creating beautiful local bullish market structure for a bit until now where the party is really starting to get going.

250% gains and counting from the test entry.

You love to see it.

Cyrator’s current micro reviews highlight well why ICP is a project which has solid fundamentals, however in this review I aim to shed light on the potential intriguing storey its current price action and technical aspects are telling me.
 
Despite pretty much a 99% plummet in price and a persistent downward trajectory since its launch, there lies an intriguing prospect within its current chart dynamics. As I have mentioned before, sometimes the most unattractive charts have a history of unveiling the most bountiful opportunities and this may appear to be the case here.

When I go to the weekly chart I envision the possibility that ICP is concluding a phase B within the framework of a classic Wyckoff accumulation pattern. IF price breaches its current low at $3.33 to put in a 'spring' and subsequently reclaims this level via either a swing failure pattern or a failed auction type move acting as the 'test', this would signal a very strong 5* buying opportunity for myself. 

This setup would have a clear invalidation situated beneath the low that would be put in on the spring move, serving as a safeguard for stop-loss placements, and I would then be looking to potentially yield a several hundred percentage move from its sign of strength and subsequent break out.

A noteworthy fact is that its previous all-time high remains a staggering 13,000% away. While such a target will definitely not be my primary focus, it is usually the case that accumulation patterns which have been built up over a long period of time tend to generate substantial gains so I would not be selling all of my position too early.
____________________________________________________
4 months later….. phase D is now complete. (See new updated chart below)

What an accumulation pattern this was.

Could not have played out anymore perfectly.

A lovely failed auction under $3.33 and once price reclaimed this level it, continually grinded up creating beautiful local bullish market structure for a bit until now where the party is really starting to get going.

250% gains and counting from the test entry. 

You love to see it.

Jeppopo

Findings 🕵️‍♂️
I think Internet Computer uses a more unique tokenomics approach then most people realize. The community holds the responsibility of monitoring and adjusting the system's parameters via NNS proposals to optimize and evolve the IC's tokenomics.

ICP tokenomics are designed to create a self-sustaining ecosystem that balances goals such as maintaining low and stable storage/compute costs for developers, incentivizing node providers with attractive rewards, and fostering balanced staking and governance participation rewards while limiting inflation.

The numbers 👩🏻‍💻
As of July 14th, 2023, the Internet Computer (IC) ecosystem operates with a total supply of 500.8 million ICP tokens, out of which 438.4 million ICP tokens are circulating, constituting 87.5% of the total supply. Additionally, 252.4 million ICP tokens, equivalent to 50.4% of the total supply, are staked. Within the staked ICP, 80.9% has a dissolve delay of more than one year, and 51.5% is staked for an eight-year dissolve. These statistics can be reviewed on the IC neuron dashboard.

The use👨🏻‍🏫

Node Provider Rewards: Node providers offering computing/storage infrastructure for the IC receive ICP rewards. The reward amount is consistent in fiat terms, and its variability depends slightly on the node's geographical location. These rewards are paid through the minting of new ICP tokens, contributing to inflation.

Governance: ICP token holders can stake their tokens to create Neurons, which grant voting rights via the Network Nervous System (NNS). NNS allows neuron holders to vote on proposals for protocol upgrades, onboarding node providers, and expanding the network. Neuron holders receive rewards for participating in governance, which are distributed as maturity attributes, convertible to ICP.

Fuel for Computation/Storage: Smart contract computations on the IC use "cycles," fueled by burning ICP tokens. In contrast to Ethereum's "user pays" model, the IC operates on a "smart contract pays" model. Cycles are generated by burning ICP tokens, leading to deflation.

Transaction/Proposal Fees: Transferring ICP between wallets incurs transaction fees, and submitting proposals to the NNS requires small fees in ICP.

The extra's 👯‍♀️
The ICP token's total supply is dynamic, influenced by minting (inflationary) and burning (deflationary) mechanisms. Inflation supports node providers and governance participants, while deflation occurs when tokens are burned for computation or transaction/proposal fees.

ICP tokens can be acquired through various means, including direct purchase on exchanges, receiving rewards for participating in governance, receiving tokens from others, developer grants, or obtaining tokens as remuneration for contributing computing capacity as a node provider.

The DFINITY Foundation's Tokenomics Series provides an analytical framework to assess the interplay between supply and demand factors influencing ICP. This quantitative approach aids in evaluating the tokenomics state and potential changes over time.

**Findings 🕵️‍♂️**
I think Internet Computer uses a more unique tokenomics approach then most people realize. The community holds the responsibility of monitoring and adjusting the system's parameters via NNS proposals to optimize and evolve the IC's tokenomics.

ICP tokenomics are designed to create a self-sustaining ecosystem that balances goals such as maintaining low and stable storage/compute costs for developers, incentivizing node providers with attractive rewards, and fostering balanced staking and governance participation rewards while limiting inflation.

**The numbers 👩🏻‍💻**
As of July 14th, 2023, the Internet Computer (IC) ecosystem operates with a total supply of 500.8 million ICP tokens, out of which 438.4 million ICP tokens are circulating, constituting 87.5% of the total supply. Additionally, 252.4 million ICP tokens, equivalent to 50.4% of the total supply, are staked. Within the staked ICP, 80.9% has a dissolve delay of more than one year, and 51.5% is staked for an eight-year dissolve. These statistics can be reviewed on the IC neuron dashboard.

-----------------------

**The use👨🏻‍🏫**

1. **Node Provider Rewards**: Node providers offering computing/storage infrastructure for the IC receive ICP rewards. The reward amount is consistent in fiat terms, and its variability depends slightly on the node's geographical location. These rewards are paid through the minting of new ICP tokens, contributing to inflation.

2. **Governance**: ICP token holders can stake their tokens to create Neurons, which grant voting rights via the Network Nervous System (NNS). NNS allows neuron holders to vote on proposals for protocol upgrades, onboarding node providers, and expanding the network. Neuron holders receive rewards for participating in governance, which are distributed as maturity attributes, convertible to ICP.

3. **Fuel for Computation/Storage**: Smart contract computations on the IC use "cycles," fueled by burning ICP tokens. In contrast to Ethereum's "user pays" model, the IC operates on a "smart contract pays" model. Cycles are generated by burning ICP tokens, leading to deflation.

4. **Transaction/Proposal Fees**: Transferring ICP between wallets incurs transaction fees, and submitting proposals to the NNS requires small fees in ICP.

------------------
**The extra's 👯‍♀️**
The ICP token's total supply is dynamic, influenced by minting (inflationary) and burning (deflationary) mechanisms. Inflation supports node providers and governance participants, while deflation occurs when tokens are burned for computation or transaction/proposal fees.

ICP tokens can be acquired through various means, including direct purchase on exchanges, receiving rewards for participating in governance, receiving tokens from others, developer grants, or obtaining tokens as remuneration for contributing computing capacity as a node provider.

The DFINITY Foundation's Tokenomics Series provides an analytical framework to assess the interplay between supply and demand factors influencing ICP. This quantitative approach aids in evaluating the tokenomics state and potential changes over time.

Jeroen

The ICP development team comprises the project's Founder - Dominic Williams, who brings a background in tech enterprise management, investments in the MMO (Massively Multiplayer Online) field, extensive involvement in the cryptocurrency realm, and academic contributions to the blockchain domain. Dominic has previously managed an MMO game backed by venture capital with millions of users.

Furthermore, there's Gian Bochsler, an experienced entrepreneur and current executive member of the DFINITY Foundation. Gian Bochsler was also a co-founder of Bity, a European cryptocurrency exchange.

The ICP team consists of over 270 members, with other key figures boasting extensive experience in the cryptocurrency, technology, and related sectors. Despite the team's expertise, it appears they might not have marketed the project aggressively or are possibly conserving resources and capital for the upcoming bull season. Evidence of this lies in the fact that the project hasn't garnered significant attention from the community thus far.

The DFINITY Foundation has undertaken substantial fundraising rounds in the past. In early 2018, they successfully raised $61 million from various investment funds. Not stopping there, by the end of 2018, they secured a whopping $102 million (a significant figure even in the current crypto fundraising landscape), led by a16z and Polychain. Other participating funds included SV Angel, Aspect Ventures, Village Global, Multicoin Capital, Scalar Capital, Amino Capital, and KR1.

The total amount of investment they received from their establishment in 2015 until the end of 2018 reached $195 million. Following that period, I haven't come across any further announcements regarding their fundraising activities for the project.

Internet Computer

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