EPS Crypto Price Prediction

Introduction

In today’s crypto space, there are many tokens belonging to multiple crypto-projects operating with varying degrees of success. Not every token is able to retain its original lustre. The ICP token circulating in the blockchain created by the Swiss team DFINITY, which seemed very promising, then lost the lion’s share of its value and remained in the shadows for a long time.

However, Internet Computer (ICP) is a project with creativity that deserves to be noticed. Demonstrating how academic knowledge intersects with the reality of how the global network and blockchain work, ICP has focused on developing a more stable blockchain that can address the technology’s limitations.

The creators envisioned the Internet Computer to be an open-source platform capable of providing guarantees to users in the form of smart contracts. It is a kind of borderless environment for smart contracts, benefiting from a high-speed internet infrastructure. In its potential, ICP surpasses Ethereum itself, which faced some limitations, with the problem of scaling in particular.

The key feature of ICP is that all operations will be executed at “high speed of Internet”, thus providing maximum performance. So, by all appearances, Internet Computer is a very promising project with tokens worth investing in. We are here to take a deeper look into the technology and make rough price predictions for ICP (Internet Computer price prediction) in the near future.

What is Internet Computer (ICP)?

Introduced in 2009, Bitcoin (BTC) was a pioneer in the cryptocurrency space and the digital asset that brought the concept of “digital gold”. The main value of Bitcoin is that it works as an asset that gradually increases in value, making it a good long-term investment (like stocks).

A few years later, Ethereum, a cryptocurrency and a platform that popularized the idea of smart contracts and decentralized financial applications (dApps), entered the arena. As for ICP, it is the third milestone for the cryptocurrency world and the Internet, as this project aims for even more decentralization and empowerment of blockchain. This is why Internet Computer price prediction is so important to investors.

In other words, the Internet Computer is something of a foundation for the hotly debated Web3, which should soon become mainstream. According to Dominic Williams, creator of DFINITY, ICP will be a major shift towards new Internet technologies that will change everything.

Developed by DFINITY, Internet Computer is a next-generation public blockchain that will free application developers from dependence on proprietary solutions such as cloud services, web servers and the like. Now, developers will be able to develop multifunctional canisters with high security and autonomy.

We won’t dwell on what canisters introduced by ICP are, but in simple words, it’s something like an improved version of smart contracts that run software solutions in replicated, distributed way. To interact with canisters, Internet Identity was introduced, a blockchain-based anonymous authentication framework linking software solutions with hardware (computers, smartphones).

Reasons Why ICP Technology is Important

When we try to forecast the Internet Computer coin price, particularly Internet Computer token, we take a detailed look at the project, and its goals to see if it has future growth prospects. The main mistake of many crypto investors is that they turn a blind eye to the so-called intrinsic value of the token they are going to invest in (to make more informed ICP crypto price predictions).

As for ICP tokens, it is a digital coin that is at the heart of a platform that represents the evolution of smart contracts. Moreover, the Internet Computer is what will drive Web3 forward - from concept to implementation and mass adoption. So, let’s look at a few reasons why ICP tokens could play a crucial role in the development of the World Wide Web:

ICP is powered by an advanced blockchain that uses a brand-new consensus mechanism that allows participants to influence the network’s future through stacking. This is in stark contrast to the way the modern Internet (called Web2) works, which is a disordered mix of proprietary services, the lion’s share of which is controlled by large corporations like Google and Microsoft.

Moreover, Web2 is largely kept running by hardware owned by the same few technology giants. This centralization of power over Web2 opens wide opportunities for corruption and censorship. In addition, many Internet users often face communication problems. Internet Computer is here to change the rules of the game by giving ordinary users access to a next-generation decentralized Internet devoid of most of the problems described above. This is why Internet Computer price prediction is so important to investors (is it a good investment?).

Another problem that ICP is intended to solve is eliminating the risk of data loss during digital user authentication (according to last ICP crypto news and price chart and forecasts). Today’s Internet is a place where hackers prey on naive users who don’t pay enough attention to their online security. Also, many advertisers and various malicious agents easily access user data and violate user privacy on the Web.

Internet Computer eliminates the need for passwords for authentication. Instead, it offers an anonymous blockchain infrastructure that ensures only you own your data and no one else. This works much more securely than two-factor authentication, which still has some weaknesses. In fact, you will represent your identity online with a single piece of information for accessing any online service.

This is much simpler, more secure and more reliable than having multiple credentials on different online platforms. Finally, you will get rid of annoying targeting ads as no advertiser will be able to access your personal information (data) unless you give your own consent.

Cryptocurrencies such as Ethereum or XPR have introduced smart contracts to synchronize services to meet the needs of many users. Introduced by the Internet Computer, canisters have replaced smart contracts to give you even more options. As interoperable and secure units, the canisters support different programming languages and software solutions.

Thanks to the new functionality they offer, there is no need for firewalls, database servers and other common services (according to ICP crypto news and price forecasts). In addition, ICP opens up great possibilities for NFT (to buy). Now it is senseless to steal copyrighted images as the thief will be identified immediately upon the first publication of a stolen image. In simple terms, the Internet Computer is the future, where notifications of rescheduled events or delayed trains will instantly appear in your personal calendar.

Another innovation is a fundamentally new model of value compared to what Bitcoin uses, for example. Like precious metals, Bitcoin only has value because it has to be mined and its supply is limited. In addition, its value is reinforced by public opinion, i.e. people who believe in this cryptocurrency.

The added value of ICP tokens comes from the Network Nervous System, which allows token holders to participate in the governance of the network. In this way, the Internet Computer enhances the practical use of digital assets by linking them to utility.

However, rather than surpass Bitcoin or Ethereum, ICP has chosen to build symbiotic relationships with major cryptocurrency players and Web3 entities to make the most of existing solutions and increase their effectiveness. Positioning itself as a fundamentally new internet, ICP has a high potential to shape new ways of value.

Finally, one of the most important advantages of ICP tokens compared to Bitcoin and even Ethereum is its high energy efficiency and hence environmental friendliness. It has been calculated that ICP/NFT transactions on the network will consume about as much energy as it takes for messaging. And that makes the Internet Computer one of the best tokens with a minimal carbon footprint, which is crucial in these times when the threat of global warming is becoming increasingly tangible.

According to studies, in 2 years, Bitcoin miners consume an amount of energy comparable to the energy consumption of large European countries, such as Greece. The amount of carbon emitted into the environment is comparable to about 9 million cars. In addition, NFT transactions on the Ethereum blockchain consume colossal amounts of electricity and produce a huge carbon footprint. With its high energy efficiency, ICP can solve these problems and significantly reduce the carbon footprint.

That is why many people turn to Internet Computer price prediction (is it a good investment?) compiled by experts. Many cryptocurrencies are known to use the PoW consensus mechanism, which requires colossal amounts of energy to conduct transactions. While there is a more energy-efficient Proof-of-Stake as an alternative, many criticize it as a less fair system for allocating the roles of network participants (according to ICP crypto news and price forecasts).

As for the Internet Computer, its creators have gone even further and proposed a key-chain technology that provides low-cost and almost lightning-fast transactions (better level of capacity).

How Internet Computer and its token works

So, Internet Computer is a next-generation blockchain where canisters act as building blocks. With all the features of traditional Ethereum smart contracts, they also include utilities, storage and software memory. Canisters can scale and communicate with other blocks to serve multiple user requests in real time. Because of these features, canisters provide much faster transactions than Ethereum (to trade).

The software stored in canisters can perform the functions of traditional platforms such as Azure and even Google. Notably, users can interact with the canisters via any web browser, thereby accessing virtually any service.

So, what are ICP tokens and what is their value? The canisters contain what is known as gas, i.e. cycles for computation. ICP tokens are used to create new cycles and are burned when they are executed, and this is how the Internet Computer deflationary model works (comparable to that used by fiat money).

Notably, the value of cycles in ICP terms remains unchanged regardless of which way the token price goes relative to other cryptocurrencies and fiat money. A single ICP coin can buy 1 trillion cycles (according to latest ICP crypto news). Due to the stable value, the costs for software developers are consistently low (low cost to buy).

Another advantage of the Internet Computer network is that the canisters can disconnect from the environment in which they operate and communicate with other canisters to perform computations and execute smart contracts. All this makes the ICP blockchain a promising environment for the provision of various services.

How ICP Price Has Changed Historically

So, the value of ICP comes not only from the technology behind it but also from the fact that the holders of the cryptocurrency get a vote on the network. ICP token was first introduced to the public in May 2021 and began to skyrocket in value, peaking at nearly $460 (on the average exchange). However, a gradual decline followed, and the token ended 2021 at a price below the $22 (USD) mark (trade).

In the following months, ICP tokens rose slightly in value, but it never managed to reach even $40 per coin (to exchange or buy). As of this writing, ICP tokens are hovering around $6 (on the average exchange). While on one hand, this is a reflection of the collapse of strong market players such as Bitcoin, on the other hand, it shows that investors have not yet believed in the Internet Computer and the innovations it offers.

That is why many people turn to Internet Computer price prediction compiled by experts (to reach the crypto). Below are a few of the problems faced by this very promising project.

Why is the ICP Price Still Low?

The creators of Internet Computer saw the native token as a means to democratize the network. However, according to many blockchain and crypto experts, the platform does not really have the level of decentralization that the developers claimed, and this has certainly affected the price of the cryptocurrency. To be involved in network governance, the participants are forced to lock a part of their ICP coins inside the Internet Computer protocol (not on the market), and the price of the coins began to fall.

Another problem is that DFINITY itself owns about 40% of the tokens, which effectively makes its voice decisive in managing the Internet Computer. Despite all of the above, ICP is still a very relevant and active player in the Internet space. With this in mind, we have tried to make a price projection for ICP for the near future.

ICP price prediction

To make the price prediction (is it a good investment?), we conducted a technical analysis first. In addition, for price prediction, we got the opinions of advanced crypto experts. Since Internet Computer is a young token launched in 2021 year, price prediction (Internet Computer price prediction) based on technical analysis could be highly inaccurate, so we do not recommend relying on it alone.

So, for ICP, a token with no long price history, we found H4 to be a suitable timeframe for technical analysis. Being in a downtrend for a long time, the token found some support and strengthened around $6.60 (USD) in price (on the average exchange). Having reached this price, ICP made a sharp jump and traded at around $10 per coin for a while.

However, as a result of bullish pressure in the market, the price corrected and dropped again. So, for a long time, the token traded at a price between $6.60 and $10 (to buy it). Recently, however, the digital asset has fallen in price again and dropped below the previous low (not good for trade).

Considering that market giants like Bitcoin and Ethereum still can’t recover from the recent collapse, we don’t think ICP price will reach at least the $10 (USD) mark (Internet Computer price prediction) in the nearest future (according to the analysis). However, it is clear that the crypto is unlikely to reach its former height (as even in the last few hours the price is going down).

Now let’s take a look at the price forecast given by experts. According to WalletInvestor, the coin’s price will fall below $1 by the end of 2022 year. This optimistic prediction is largely due to the recent decline in the cryptocurrency market as a whole. It is likely that by 2025, the price of the token will stabilize at around $0.50 (on the average exchange).

The opposite view was expressed by DigitalCoinPrice experts, stating that the coin’s price will rise in the short term (according to the analysis). According to DigitalCoinPrice, in 2023, the token will trade at more than $12 (USD) on the market. DigitalCoinPrice experts are probably driven by a belief in the success of Web3 and technologies such as the Internet Computer driving it forward.

Final thoughts

There are many people dedicated to the development of blockchain technology, and Internet Computer is a project that demonstrates how academia intersects with real-world technology. With canisters representing the evolution of smart contracts and a new mechanism that enables lightning-fast and energy-efficient transactions, ICP (both the token on the market and the project itself) shows creativity worthy of the attention of developers and crypto investors alike.

And despite some of the challenges the project has faced (particularly the need to hold tokens within the Internet Computer protocol in order to have a voice), the Internet Computer remains a technology capable of generating a wave of innovation and growth. Therefore there is a good chance that all the most optimistic price predictions about ICP will come true, but do not take this as a call for you to invest in the cryptocurrency right now as the crypto is no longer likely to reach its former height.

F.A.Q.

1. What is the Internet Computer in general?

It is essentially a general-purpose blockchain-based technology within which decentralized applications operate. It acts as a technology stack where any services can operate. The key advantages of the platform are lightning-fast transactions (trade), more powerful smart contracts than those operating in the Ethereum blockchain, compatibility with various environments and services on the market, and governability through native tokens. If the creators of the project succeed in implementing their objectives, the Internet Computer will become the basis for the development of what is commonly referred to as Web3.

2. What is the current Internet Computer Coin Price?

As of this writing, the price of Internet Computer tokens is hovering around $6 (to buy). This is well below the maximum value of $460 recorded in the first weeks after the coin’s launch. Although digital gold has fallen in value noticeably at the moment, that is not the main reason why the hero of this review has lost so much ground (but still available to trade). According to a pessimistic ICP price prediction 2025 year, the value could drop as low as $0.50 (average level). However, some experts believe that the coin could cross the $10 (USA Dollars) mark this year (a good level). As for ICP net worth, the current market cap is $1.44B (USD), and that’s still an impressive volume (given that the total number of ICP tokens is 477.6MM).

3. What is ICP price prediction 2025?

There are two scenarios for the value of the coin, the pessimistic with a gradual decline, and the optimistic with an increase relative to the current value. According to the first ICP price prediction 2025 year, the coin will fall to $0.50 on the market. However, many crypto experts who believe in the new blockchain-based project expect the coin to grow up to $12 or even more (pretty nice level of price). As well as our price forecasts (out there), also do your own research, see historical price movements, find out about the community and the latest news.

4. Is ICP crypto a good investment?

If you build ICP price prediction 2025 relying only on technical analysis, you will come to the opinion that this coin is not a good investment. However, we have studied the project carefully and outlined its features in the article above. As you can see, the Internet Computer is a very promising and innovative technology, which surely has a big future. Moreover, this coin (available to trade) has the potential to become the second Bitcoin (top asset according to ICP coin price prediction), so you shouldn’t be afraid of storing ICP in the protocol for a long time to participate in the governance of the system. Considering its price dynamics, it is not likely to be a good short-term investment.

5. Why is ICP not considered to be decentralized enough?

According to the idea behind the project, coin holders will be able to participate in the governance of the platform. This means that the more tokens you keep in the protocol, the more your voice influences the governance. However, the problem is that DFINITY, the fund behind the project, owns 40% of all coins on the market. This means that DFINITY’s voice carries a lot of weight compared to what ordinary users and developers have.

6. How do I open an ICP wallet?

Similar to other cryptos, you will be able to store your Internet Computer token in a hot or cold ICP wallet (there are many options available on the market). Alternatively, if you don’t want to create an ICP wallet, you can store your tokens in Digital Asset Bank (e.g, to trade them). The easiest way to try ICP tokens is a cold wallet working as an NNS dApp. To use it, all you need is a browser (such as Chrome) and Internet Identity. According to ICP coin price prediction, it can be a good starting point.