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02/15/2024

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ICP's 2023 Review: Multi-chain And Next-generation SNS DAOs - CMN | Latest Cryptocurrency News Today | Live Crypto Price

ICP just published a report summarising its year’s achievements. The paper included an overview of ICP’s multi-chain characteristics, collaborations, new initiatives, and rapid industry expansion. Even though...

ICP's 2023 Review: Multi-chain And Next-generation SNS DAOs - CMN | Latest Cryptocurrency News Today | Live Crypto Price

ICP just published a report summarising its year’s achievements. The paper included an overview of ICP’s multi-chain characteristics, collaborations, new initiatives, and rapid industry expansion. Even though 2023 was a terrible year for the cryptocurrency industry, ICP managed to boost its developer growth by 30% at the end of the year. ICP was also favored by the overall cycle burn rate, which is a parameter used to emphasize the economic value generated by the Internet Computer.

Throughout the year, the average daily burned cycles increased, and by 2024, the burn rate is expected to triple. of a similar vein, the network saw a 67% increase in node suppliers. For ICP, the number of countries possessing node machines has increased from 9 to 22.

In terms of tokenomics, the network had a steady influx of staked ICP, with 1.7 million staked per month on average. ICP trading increased as well, in part due to the network’s introduction of a liquidity program. In addition, ICP launched three custody platforms, ten wallet integrations, and seven additional exchanges.

In the last year, ICP’s value increased by an astounding 145.90% in terms of market performance. ICP is currently up 0.85% during the last day to trade at $13.34. The coin has increased in value by 12.57% over the last seven days, and according to the most recent ICP cryptocurrency price forecast, it may eventually hit the $17 threshold.

The network concentrated on events, public relations, and media, therefore its marketing efforts were also strong. In Q3 of 2023, ICP.Hubs appeared in four regions. The centers now have a global reach and are spread across 19 regions. ICP’s expansion was also significantly influenced by the DAO framework surge in the SNS (Service Nervous System). ICP launched 12 SNS DAOs at the end of the year, and two more were launched in the new year.

ICP has some planned enhancements for the year, including threshold Schnorr, decentralized border nodes, libraries for certification, and EVM RPC. It is anticipated that the network will develop even more in 2024 as more projects turn to ICP for their first expansion.

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