The Internet Computer Protocol (ICP) lays the groundwork for the next phase of the internet, transitioning from Web2’s centralisation to Web3’s decentralisation. As a foundation for hosting applications, ICP has the potential to support projects that not only thrive but could, in time, surpass its own valuation. This is a bold notion, yet one supported by historical trends, technological advancement, and the disruptive nature of decentralisation.
ICP acts as the backbone for Web3 in much the same way the internet did for Web2, creating a platform where applications can flourish and redefine industries. History offers compelling examples of applications eclipsing the infrastructure they depend on. Google leveraged the internet to become a search engine powerhouse, eventually outstripping many of the internet service providers that supported it. Facebook runs on centralised cloud services yet far surpasses most of those services in valuation. Even Amazon’s retail division grew to rival its own infrastructure arm before AWS came to dominate.
The same principle applies to ICP: infrastructure enables exponential value creation, but it’s the applications built on top that generate transformative impact. ICP’s decentralised foundation positions it as an enabler of such growth, with projects that harness its capabilities holding the potential to achieve remarkable valuations.
The $BOB (Blockchain on Blockchain) project exemplifies this idea. Built on ICP, $BOB integrates two compelling features: utility and scarcity. As it drives the burn rate for cycles, the computational resource of ICP, $BOB directly contributes to the protocol’s vitality. Its capped supply of 21 million tokens mirrors Bitcoin’s scarcity model, adding economic allure. Together, these properties make $BOB a fascinating case study in how projects can leverage ICP’s infrastructure to achieve success.
ICP’s appeal lies in its ability to meet the demands of Web3 applications, offering unparalleled security, cost efficiency, and decentralisation. Applications hosted on ICP benefit from its unhackable systems, a critical advantage in sectors like finance, AI-driven smart cities, and enterprise management software. Decentralised security provides reliability without the vulnerabilities of Web2 systems.
Beyond security, ICP delivers cost savings. A platform like X (formerly Twitter) transitioning to Web3 could significantly reduce cybersecurity expenses, as decentralised infrastructure removes the need for extensive security teams. ICP’s decentralised cloud service also challenges traditional providers like AWS and Google Cloud, catering to industries that prioritise reliability and security, such as healthcare and AI.
ICP’s chain key technology further enhances its value, enabling native, trustless connectivity with other blockchains. Unlike traditional wrapped assets, which rely on centralised custodians, this innovation facilitates liquidity through connections to Bitcoin, Ethereum, and stablecoins like USDC. This ensures that projects on ICP can scale independently of the protocol’s market cap.
The potential for ICP to host transformative applications is vast. Projects like $BOB offer a glimpse into what’s possible, showcasing the utility and innovation that can emerge from this decentralised infrastructure. Whether it’s a corporate giant, a groundbreaking startup, or a revolutionary concept, ICP provides the foundation for growth, proving that the infrastructure of Web3 can drive the next wave of digital transformation.