Crypto News– Last year, members of the Internet Computer community pledged nearly $80 million worth of Internet Computer (ICP) tokens to support the decentralization of protocols within the ecosystem.
Internet Computer community commits 80 million Dollars to decentralize its project ecosystem
The DFINITY Foundation, a contributor to the Internet Computer network, released its 2023 protocol ecosystem report on March 27, revealing that the community had committed more than 6.5 million ICP tokens to decentralization efforts.
This pledge was facilitated by the Internet Computer’s Service Nervous System (SNS) framework, which enables protocols to transition into decentralized autonomous organizations (DAOs).
Projects and decentralized applications (dapps) within the ICP ecosystem that received funding through SNS decentralization include the decentralized messenger OpenChat, metaverse platform Dragginz, blockchain search engine Kinic, Web3 TikTok Hot or Not, the first ICP memecoin Ghost, decentralized verification-as-a-service platform Modclub, on-chain gaming platform BOOM DAO, and social dapp Catalyze.
ICP experiences a surge following its shift towards AI
ICP prices have experienced significant momentum in recent days following the unveiling of the network’s latest advancements in artificial intelligence.
In a post on March 22, DFINITY CEO Dominic Williams shared a video showcasing what he describes as a groundbreaking achievement: a sophisticated AI running on blockchain as a smart contract on the Internet Computer.
Since the announcement, ICP prices have surged by 50%, reaching a two-year high of just under $20 on March 26, as reported by CoinGecko. However, it’s important to note that despite this surge, the asset remains down 97% from its all-time high of $700 in May 2021.
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