If you had invested ₹ 100000 in this cryptocurrency in May 2021, it would have become ₹ 10000 now This cryptocurrency has given a return of -95% in just two months The cryptocurrency was launched in May 2021 and when a new cryptocurrency is launched, the price fluctuations are very high. – 95% very big deal But why are we talking about cryptocurrency. let me tell you till the end of this video Hello friends, I am Neha Nagar. I am the founder of Taxation Help Which is a tax firm. you tell me is cryptocurrency decentralized ? If you also store your cryptocurrency in a hard wallet then You need internet to use to access, to do sell, purchase, transaction The Internet is not decentralized and which company has control of the Internet? With a company like Google Microsoft Amazon Facebook I want to place order from amazon so it is centralized If I want to make my own website like TaxationHelp.Whatever web services I will use by visiting the platform, it is all centralized. Everything is controlled by the industries and that whole industry is either creating a monopoly or trying to do The Facebook Instagram that we use, we store our data there, that data is also not safe, it is not secure, we all know this.
We are placing orders from Amazon. Our data is being stored there, that too is not secure. We are giving our control in the hands of the company and this whole company is centralized. And on these, we depend to a large extent. If there is a Demat or brokerage firm and it is closed for a few hours, then we can also lose in the stock market. Similarly, WhatsApp Facebook was also closed for a few hours, so those whose business runs through them may also suffer. If I have my website hosted on a server. If that company is closed, then the control is in the hands of that company. So to a large extent, we are dependent on these companies, so that company is creating a monopoly. Can the Internet also become second, can the Internet be made public, can the Internet also be decentralized? So it's working with Internet Control Protocol which is layer 1 protocol He wants to bring revolution on the Internet, wants to decentralize the Internet through smart contracts Ethereum also works on smart contracts, Chainlink and Cardano also do it.
What is Smart Contract? When two parties want to work and there is no one in between Like in the vending machine you deposited the money you took the product and that's it Easier, Faster, and Less Costly, as there is no Mediocre in between And decentralization in cryptocurrencies also means that this Mediocre, go away from here And in less cost, the transaction can be done in less time Bitcoin came for payment and this Ethereum incorporated the concept of blockchain It is being called third-generation ICP, because it is going to decentralize the Internet itself.
How ICP is cost-saving If I am getting any service from Amazon Web Services for $7 then the same services I will get $1 on ICP If 0.06 blocks are made in one second on Ethereum, then 19 blocks are made in one second on the same ICP So it is very cost-saving and also time-saving So the point to be noted here is that each of the cryptocurrencies that are being launched is called Cryptocurrency Ethereum Killer. ICP is also being called Ethereum killer and Ethereum which is a cryptocurrency that comes at number two. Bitcoin is used for payments, and on Ethereum you can build your own apps and create decentralized applications. So far, applications like finance, centralized finance, NFT, and gaming have been made on ICP too And he also made a clone of Tik Tok to demonstrate Can Can And he created LinkedIn's clone Linked up What are DEFINITY, the foundation of cryptocurrency, and the core called DEFINITY Which are an NPO non-profit organization and research institute.
And they have two platforms, the first is Fleet on which you can create a website, and the second is Capsule Social, on which you can create social media platforms like Facebook and Instagram. When this cryptocurrency was launched, its price also went to $737 and the lowest went to $20. And now its price is running around $34 but before that we do its background check then we will also see its website and chart Let's check its background ICP was started in 2014 and in 2016 they named themselves as Dfinity Foundation Which is a non-profit scientific research organization ICP is from Switzerland and Switzerland is called the BlockChain Capital of the world. Dfinity Foundation has more than 200 workers which are software engineers, cryptographers, and Ph.D. holders, which are quite non-existent in the industries. They also have more than 200 patents and more than 100 citations. Its founder Dominic Williams is also well known in this industry.
Also one of the early members of Ethereum and Bitcoin One of the investors in this cryptocurrency is Anderson, who is the top VCA Venture Capitalist in the world. Polychain Capitals Has Invested In This Crypto Currency and they are Also Well Known Investors This cryptocurrency raised $121 million and its early investors who bought the coin for $2 Then this cryptocurrency was launched in May 2021 and its price reached $728 per coin. So this company wants to make the internet's blockchain and this company was started in 2014 and in 2017 they sold 25% of their tokens @ 0.03$ rate And they sold 7 percent more tokens in 2018 and they distributed some tokens to their 55000 participants. Then in 2021, they distributed his tokens again through an airdrop. Now, what is an airdrop? Airdrop is where the company distributes its cryptocurrency tokens to its investors so that they can get a buzz. And this coin is distributed for free so that they can be marketed and these tokens can be taken through a lucky draw And friends, I have posted a video about many cryptocurrencies, so you can check it by going to the i button This cryptocurrency was launched on May 2021 on major platforms like coin base and binance.
So already the hype of this cryptocurrency had increased because it was bringing blockchain and revolution to the internet. Already the hype of these had increased and if any coin is launched on these big platforms then their hype increases a lot. Its price which was listed was very high So their investors i.e. early investors had bought this token for less than $2, they had now started profit booking. And those who were retail investors, that is, new investors, they started their profit booking because its price reached near $700 And then in May itself the cryptocurrency market crashed, so its price also crashed a lot. Investors are running away from it because its roadmap is 20 years which is a very long term plan So this cryptocurrency is for the long term if not for the short term then it is not for trading either. When this cryptocurrency was launched it was called top4 currency but now its rank is 22 and earlier its market cap was $48 billion which is now $5 billion Its highest price was $737 and the lowest price was $20 Where the rest of the cryptocurrency crashed 50% in May, this cryptocurrency crashed 90% because that cryptocurrency was new and the new cryptocurrency is very volatile.
Now it is related to bitcoin, as many altcoins are related to bitcoin. If bitcoin rises then it also rises If bitcoin rises by 5% then it grows by 20 percent If you have noted that bitcoin is rising now, then ICP also increased by 30 percent in the last 24 hours. Friends, now we also see the price chart of this cryptocurrency, so now we have come to the app of coin market cap. There are more than 11000 cryptocurrencies on this website, there are 390 exchanges, and the total cryptocurrency market value is $ 1.3 trillion The current value of ACP is running around $41 before I checked it was around $47 which is now at -4% Its market cap is around $5 billion and I have given you all the information like its all-time high was $737 and its all-time low is $20 You can see its price chart when it was launched it was high and now it is going low You such that you can see this chart that its price is still going to be maintained and there is no chance of coming low yet.
I haven't invested in this cryptocurrency I invested in it when it was listed and I sold it then You can invest in Office Cryptocurrency according to your risk appetite. This cryptocurrency is strong and is for long term I have personal regions and I have more cryptocurrencies in my portfolio so I am not taking this cryptocurrency Friends, now let's talk about the sponsor of this video which is coin switch kuber and which is hundred percent safe and secure. In this, you can start trading in less than a minimum of ₹ 100 and your KYC will be done within 24 hours. Coin Switch Kuber You will absolutely not forget to use my coupon code NN50, I have given its link in the description So now we also check the website of this crypto currency. We have come to the website of Dfinity, which wants to bring blockchain to the internet but only according to the speed and scalability of the internet. All the details that I have told you so far have been told by reading from their website and you can also read yourself. I don't see cryptocurrency on Boost right now, so you can invest in crypto only after doing a hundred percent research.
Off course, the meme is better than coin investing in coins like ethereum and Matic Ethereum works on Proof of Stake but this platform is neither Proof of Stake nor Proof of Work. It uses queries and calls. There is no requirement of a cloud system to make an app from this system, if it starts cloud service in the coming time, then there can be a very good boom in their price. Token means that this crypto is built on someone else's blockchain The one that is built on someone else's block is called a token and the one that is built on its own blockchain is called I will bring a video in detail about this.
This crypto token is a governance token that means they also have voting power. The holder of this crypto token will have voting power if any proposal comes in the ICP. Apple IBM Google or Facebook ex-employees or ex-members working on a crypto project This crypto token will also create its own operating systems such as Android or iOS. Operating systems of ICP can and will come. And who is holding the crypto token, it is their team members in holding it. As dogecoin has a hold in only two to three wallets. Dogecoin is also not decentralized to a large extent. Because some wallets are holding Dogecoin. Will sell or buy means he can control the price. Dogecoin is also not substantially decentralized That's why this cryptocurrency is not decentralized because most of the coins are held by them themselves, which means they are held by their team members. Apart from this, I told you that whatever is not coming in crypto, only Ethereum killer is being spoken. All crypto coins are coming in competition with Ethereum. So which cryptocurrency will survive in the long term, or which cryptocurrency will give us returns in actuality, there is a lot of uncertainty in it.
But this cryptocurrency is very fundamentally strong, it is not like a meme coin that has no project at all. But many projects of this cryptocurrency are going on and in running. You Can Build Your Own Dep Using This Cryptocurrency This cryptocurrency is for the long term not for the short term. And has given very high returns in minus. And like I told you that 30% was increased only yesterday when I was doing research about this topic And this was my video about ICP. Which other cryptocurrency do you want to know about, definitely tell in the comment section. Because I have also raised this topic from the comment section itself. Apart from this, I have covered five to six videos on cryptocurrency topics, you can check them. We keep the target of likes of this video 10000. See you in the next video and don't forget to subscribe to the channel.