• Internet Computer is ranked 9 among the best decentralization currencies.
• Internet Computer tries to configure smart contracts by Hardware.
Internet Computer is the new cryptocurrency that came out last Monday and with an amazing rising value. According to CoinMarketCap, the decentralized coin has reached a market capitalization of $35.8 billion in just a few hours.
On Monday, the crypto’s market value rose to over $90 billion, with an approximate value of $731. But in minutes, it had a decrease in its price, reaching $18 billion, with a value of approximately $146.
Dfinity Foundation is the creator of Internet Computer and has the goal of turning cryptocurrency into a volatile version of the internet. The cryptocurrency blockchain uses smart contracts to its advantage, much like Ethereum technology. With this working mechanism, the founders of the token improve many platforms and mobile applications.
For example, new decentralized applications can be formed with DeFi. DeFi Apps create a classic financial scheme with cryptocurrencies. Programmers can even make websites and other things on the internet with the cryptocurrency blockchain.
Unlike Ethereum, the Internet Computer has a faster and more affordable blockchain for developers. The configuration of the cryptocurrency optimizes the outdated Ether technology, which is good news.
Internet Computer and its promotion to new DeFi configurations
According to a statement made by Dominic Williams, head of the Dfinity Foundation, Internet Computer has a blockchain other than Ether. This blockchain network is not run by the cloud but uses a more complex hardware system. The configuration to enter DeFi will be more demanding on the first try but is expected to be very stable after completing it.
This expert points out that the blockchain network will work at the same speed as the internet. With this classic configuration, you can avoid many problems and give a better fit to the DeFi.
Williams also says that the Internet Computer is useful to old-fashioned developers. Many big-name companies and small entrepreneurs can use the hardware without a problem.
Internet Computer scheme on the rise
This cryptocurrency scheme is on the rise, raising around $120 million. The prominent investors are Polychain Capital and Andreessen Horowitz, who did not hesitate to trust the cryptocurrency.
Since its inception, the cryptocurrency has been very volatile in price, common in the decentralized market. Although the price of crypto sets over time, this cryptocurrency has stiff competition on blockchains for DeFi. This includes the latest statements from Ethereum with its version 2.0 update.
The Internet Computer cryptocurrency is ranked as the 9th most popular decentralized currency. But Ether, the cryptocurrency of Ethereum, is ranked number 2 on the list for its value of $493 billion. The scheme that the Internet computer has looks promising and it only has to overcome the obstacles other blockchains for smart contracts would potentially create.