ICPSquad Weekly: ICP Rallies Forth!

Geoffrey Miller
Geoffrey Miller
ICPSquad Weekly: ICP Rallies Forth!

After a veritable feast of news events and technical developments in November, what gifts and stocking stuffers might this December hold for ICP?

November was a crazy month. In the span of about 30 days, the Internet Computer community journeyed from all-time emotional and economic lows to renewed enthusiasm and hope for the ICP blockchain's success. We've lived through the fall of FTX and Sam Bankman-Fried's fiscal unraveling to see BitBoy, arguably one of the most well-known crypto influencers worldwide, champion ICP.

After a veritable feast of news events and technical developments in November, what gifts and stocking stuffers might this December hold for ICP?

Bitcoin Integration Arrives

Bitcoin integration, one of the most anticipated features since ICP's Genesis Launch went live on December 2, 2022.

The implications of this development are absolutely staggering - and that might be an understatement. To learn more, I highly recommend watching 6figs' new video that overviews not only the technical aspects, but also dives into how this will supercharge DeFi and likely hasten broad adoption of the Internet Computer.

The Service Nervous System Goes Live

The service nervous system, an analogue to the NNS but for decentralized application governance on the Internet Computer, has debuted.

The DFINITY Foundation advises keeping SNS-1 neurons locked for now until all features regarding dissolve delay mechanics have gone live. Where decentralized application development goes from here will be entirely up to the Internet Computer's community.

ICP Looks Bullish

For the first time in quite a while, ICP has earned a very bullish sentiment rating from InvestorsObserver. This is especially notable, since the site has historically expressed a moderate degree of skepticism and hesitation about ICP.

ICP has experienced healthy price action over the past seven days, surging more than 7% in contrast to the overall crypto market, which has exhibited modest declines as the fallout from FTX's collapse continues to unfold.

FTX Contagion Updates

The victims of FTX's untimely and sudden unraveling continue to increase in number. According to Axios, Sam Bankman-Fried's fall from grace may pose an existential threat to widespread adoption of blockchain technology by the general public. I believe this threat is exaggerated, but the pain is very real.

The present crisis in the crypto world has been compared to Enron, Theranos, Bear Stearns, Lehman Brothers, and Madoff Investment Securities. Analysts at Moody have stated that FTX's downfall "will radically transform the crypto ecosystem, further shaking trust and raising doubts around its ongoing prospects."

Women in Web3

FTX related drama has highlighted the problem of so-called "bro" culture in crypto communities - a free wheeling mentality that glorifies a lack of professionalism and has proven vulnerable to get rich quick schemes. No doubt, addressing the gender imbalance in digital spaces in general and crypto spaces in particular will do wonders to ensure diverse perspectives are represented and moderate toxic and aggressive behaviors.

Women in Web3 are the key to driving a healthy culture, growth and adoption
A toast to all women in the Web3 and the ICP ecosystem and a special grant announcement.

The DFINITY Foundation has created targeted Developer Grants of up to $100K for Women Developers and entrepreneurs along with a FastTrack process. Our Editor-in-Chief here at DfinityCommunity was featured in the announcement on Medium.

“As someone who’s been active in crypto and in anonymous groups for many years, I’ve never strongly asserted my gender online. I still don’t think meatspace identities are very relevant in digital spaces, but I am very grateful for the extra opportunities given to me because Web3 groups go above and beyond to be inclusive. ICP has been a great learning environment for me, especially with regards to opening up and connecting to people on deeper, more personal levels.”

Hyuna K, Editor-in-Chief, DfinityCommunity

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  • Disclaimer: The views and opinions expressed on this website are solely those of the original author and other contributors. These views and opinions do not necessarily represent those of the Dfinity Community staff and/or any/all contributors to this site.

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