Raoul Pal, Real Vision founder and well-known Bitcoin bull, shared his thoughts on a coin that he considers to be one of the most ambitious startups in the crypto space.
Internet Computer (ICP) is a crypto project developed by Dfinity, a Swiss-based non-profit organization. Blockchain project; It aims to increase the speed, power and scalability of the Internet without relying on centralized systems such as firewalls, cloud computing infrastructure and databases.
According to Pal, the project has arguably one of the most ambitious goals in the entire crypto industry, as ICP seeks to replace the internet as we know it.
“This project is clearly the most ambitious of any project in the space, because it basically says, ‘Here is an entirely new internet architecture driven by cryptography and scalable beyond anything that exists today. Faster than any other blockchain project.”
While Pal says some investors are skeptical of the project as many blockchain platforms are fighting for user adoption, the macro analyst points out that ICP has significant funding backing it and has the potential to revolutionize the market. However, he adds that the complexity of the project could slow its growth.
“On a very different scale. People are pretty cynical about it, but let’s see… Serious amounts of money are invested in this crypto. A16z, Polychain Capital… let’s see what happens. Take advantage of the doubt and make sure you do your homework on the coin… That’s exactly what I’m doing – trying to learn the project. I spoke to Dominic Williams, head of Dfinity, and he couldn’t explain it to me. All I know is that it’s huge and complex, and it’s going to take a long time to get adopted if he doesn’t explain it well. No problem.”
ICP was listed on leading exchanges Coinbase Pro, Binance, and Huobi on May 10, hitting an all-time high of just over $700. At the time of writing, the asset is trading at just under $48 and is ranked 20th in the cryptocurrencies ranking. If you want to learn more about Internet Computer, you can take a look at our What is Internet Computer!