Internet Computer

Halal Rating :
Comfortable
Last Price $10.6 Last updated:
Rank 32
1D Change 0.80 %
Market Cap $5.1b
Circulating supply 479,997,925
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Platform
  • AI & Big Data
  • Smart Contracts
  • Polychain Capital Portfolio
  • Electric Capital Portfolio
  • Fenbushi Capital Portfolio
  • Hashkey Capital Portfolio
  • a16z Portfolio
  • Multicoin Capital Portfolio
  • Exnetwork Capital Portfolio
  • [deprecated] ICP Ecosystem
  • Internet Computer Ecosystem
  • Layer 1
  • Alleged SEC Securities

Purpose and Utility

The Internet Computer (ICP) is a blockchain platform developed by the DFINITY Foundation that aims to extend the functionality of the public internet through a network of decentralized data centers. Its primary purpose is to enable developers to build and deploy decentralized applications (dApps), websites, and enterprise IT systems directly on the blockchain.

Business Model and Technology

ICP operates through a network protocol called Internet Computer Protocol, which allows independent data centers worldwide to combine their computing power to create an alternative to traditional cloud services. The platform enables 'smart contracts' that can serve web content directly to users, eliminating the need for traditional hosting services.

Real-World Adoption

The Internet Computer ecosystem has seen significant developer activity and adoption. As of 2024, there are thousands of smart contracts (called 'canisters' in the IC ecosystem) running on the network, hosting various applications including social media platforms, DeFi protocols, and games. Notable projects include DSCVR (a decentralized social media platform), OpenChat (a messaging service), and numerous DeFi applications.

Development Activity

The platform maintains strong development activity with regular updates and improvements. The developer community is active, with continuous contributions to the ecosystem. The DFINITY Foundation regularly releases technical updates and new features.

Token Distribution and Governance

ICP tokens serve multiple purposes within the ecosystem: they're used for network governance, to reward network participants, and to create cycles that power computation on the network. The initial token distribution included allocations to team members and early investors with vesting periods, showing consideration for long-term alignment.

Revenue Model and Operations

The platform's revenue model is based on legitimate technological services, primarily computing resources and network operations. It doesn't involve interest-bearing activities or prohibited industries.

Crypto Impact

To assign a comfort level investing in Internet Computer from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Internet Computer.

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