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DFINITY Foundation announcement leads to 10% ICP price drop 😱

DFINITY Foundation announcement leads to 10% ICP price drop 😱

Definity Foundation Unveils Updated Roadmap for Internet Computer

The DEFINITY Foundation, the developer behind the Internet Computer protocol, has recently revealed a refreshed roadmap with a focus on advancing artificial intelligence (AI) blockchain adoption. ICP, the native token of the network, currently ranks 22nd among cryptocurrencies and is looking to enhance its price action and protocol capabilities amidst recent price fluctuations.

Key Milestones in the Internet Computer Roadmap

  • Tokamak: The roadmap introduces two critical milestones, starting with Tokamak, which aims to reduce latency by maximizing block rates of each subnet and introducing a new synchronous ingress submission endpoint.
  • Stellarator: The second milestone, Stellarator, will increase storage capacity for subnet blockchains, allowing them to host over 1TB of canister smart contract storage while enhancing the efficiency of the consensus layer.

The DEFINITY Foundation plans to embed AI capabilities as smart contracts on the Internet Computer protocol to address the resource-intensive nature of AI training and inference. The roadmap includes milestones such as Cyclotron and Gyrotron to enhance on-chain inference and integrate AI-specialized subnets with GPU support.

Interoperability with Major Blockchains

The Chain Fusion technology of ICP enables direct interoperability with prominent blockchains like Bitcoin, Ethereum, and Ethereum Virtual Machines (EVMs). The roadmap introduces milestones to expand interoperability:

  • Tritium: Facilitates interaction with Ethereum and EVM smart contracts for cross-chain communication.
  • Deuterium: Extends Chain Fusion support to emerging Bitcoin protocols.
  • Helium: Enhances Chain Fusion for the Solana network to support decentralized applications (dApps).

Further milestones like Solenoid and Levitron focus on decentralizing operation and providing visibility into the Internet Computer’s infrastructure for enhanced development insights and governance mechanisms through the NNS and SNS frameworks to ensure decentralized decision-making and community involvement.

Current ICP Performance and Future Potential

Despite a significant 120% increase year-to-date, ICP is currently trading at $12.05, 98% lower than its previous all-time high of $700. The impact of the roadmap on price action and its potential to drive bullish momentum and adoption across various use cases remains to be seen.

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DFINITY Foundation announcement leads to 10% ICP price drop 😱