From Memes to Markets: Why ICP’s Ecosystem is the Crypto Blockbuster of the Year

Since its grand entrance in 2021, Internet Computer (ICP) has continued to demand attention, especially with a recent 28% uptick in its value. But the price action is only a side note in the intriguing story of ICP. What truly captivates enthusiasts is its vast, varied ecosystem. Controlled by the Network Nervous System (NNS), Internet Computer is not your run-of-the-mill blockchain project. It’s a governed network that deeply involves its token holders in decision-making processes. As we explore ICP’s rapidly evolving role in crypto, it’s clear that the real headline should be its rich ecosystem.

Steering this giant is the Network Nervous System (NNS), which acts as much more than a mere overseer of token supply. It offers token holders the opportunity to actively participate in governance. This is not just about financial gains; it’s a way for holders to directly influence the platform’s trajectory, subject to factors like staking and neuron age.

So, what elevates Internet Computer above the rest in the crowded blockchain market? Beyond its audacious goal to redefine the internet, it’s the vibrant range of projects under its umbrella that makes it unique. Whether it’s achieving decentralisation, enabling swift transactions, or cutting down fees, these projects harness the strengths of ICP’s blockchain. Now, let’s look into these projects and uncover what makes each one tick.

DSCVR
DSCVR is your go-to decentralised Web3 social media platform. Users can form groups, or Portals, which can be gated with NFTs and offer token airdrops. The platform has successfully attracted over 200,000 users and shows no sign of slowing down.

ICPSwap
Step into the world of ICPSwap, a decentralised exchange (DEX) built entirely on-chain. With the Internet Computer’s prowess in scalability and low transaction costs, ICPSwap is poised to be a juggernaut in the burgeoning DeFi market surrounding ICP.

Funded
For crowdfunding aficionados, Funded offers an ICP, BTC, and ETH-based platform without the stress of gas fees. It’s already been a game changer, funding projects worth more than 83,000 ICP.

Dmail
Sick of traditional email? Dmail is for you. Hosted entirely on-chain, it offers blockchain-backed encrypted messaging. Its cutting-edge approach won it the 2021 Warpspeed ICP Hackathon in China and an immediate funding round, valuing it at $10 million.

ICDex
ICDex stands out as the world’s first orderbook DEX to be completely on-chain. Its uniqueness lies in its ability to leverage advanced ICP smart contracts.

OpenChat
Chat apps have been done to death, right? Wrong. OpenChat lets its 80,000-strong user base not just message in real-time but also make crypto transactions and own part of the platform via CHAT tokens.

Hot or Not
Imagine a platform where you can stake tokens on whether a video goes viral. Welcome to Hot or Not, a short-form video platform with integrated prediction markets.

Sonic
Another DEX, Sonic, has managed to accumulate a total value locked (TVL) exceeding $360,000 and is setting standards for decentralised exchanges on the Internet Computer.

The sheer diversity of the Internet Computer’s ecosystem is one of its strongest assets. Its impact isn’t limited to just one sector; it spans social media, DeFi, secure messaging, and crowdfunding. Moreover, the governance through the NNS ensures that the platform will continue to adapt and expand. In the bigger picture, Internet Computer isn’t just riding the blockchain wave; it’s crafting its own narrative.

If you’ve been hesitating, maybe it’s time you took the plunge. With projects that employ Internet Identity, a privacy-focused authentication framework, such as Signals—a location-based chat app—and StakedICP, a liquid-staking protocol, the Internet Computer offers a secure and diverse playground for crypto enthusiasts.

So what are you waiting for? Dive in, because the Internet Computer is setting itself up to be an integral part of the internet’s future—and your portfolio might thank you for it.

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Maria Irene
Maria Irenehttp://ledgerlife.io/
Maria Irene is a multi-faceted journalist with a focus on various domains including Cryptocurrency, NFTs, Real Estate, Energy, and Macroeconomics. With over a year of experience, she has produced an array of video content, news stories, and in-depth analyses. Her journalistic endeavours also involve a detailed exploration of the Australia-India partnership, pinpointing avenues for mutual collaboration. In addition to her work in journalism, Maria crafts easily digestible financial content for a specialised platform, demystifying complex economic theories for the layperson. She holds a strong belief that journalism should go beyond mere reporting; it should instigate meaningful discussions and effect change by spotlighting vital global issues. Committed to enriching public discourse, Maria aims to keep her audience not just well-informed, but also actively engaged across various platforms, encouraging them to partake in crucial global conversations.

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