Internet Computer, Arweave Rally, Take Lead in Current Crypto Rally

Internet Computer, Arweave Rally, Take Lead in Current Crypto Rally
  • The crypto market is experiencing a rally, with ICP and AR among the top performers, showing significant gains.
  • ICP soared 40% in a week, fuelled by blockchain-based AI developments, highlighting its potential ahead of a web3 festival.
  • AR rose nearly 30% after launching a testnet for aoTheComputer, offering scalable, decentralised computing via holographic state.

The past few hours have seen a crypto rally and almost all assets are in the green and making gains. While Bitcoin and Ethereum gain around 4% on the 24-hour timeframe, two altcoins are leading the rally. These coins have gained over 10% in that past day and one even 40% week-on-week.

Related: “Rich Dad Poor Dad” Author Robert Kiyosaki Says Buy Bitcoin Not Stocks

Internet Computer ICP

The Internet Computer (ICP) has gained 40% from last week, 15% in the past 24 hours alone and is the best performing digital asset of the moment.

According to reports blockchain-based AI developments are said to be coming to ICP.

AI is arguably one of the biggest trends right now and we are likely to hear more on the topic during the web3 festival in Hong Kong in early April when Jan Camenish, the Chief Technology Officer of Dfinity, will participate in a panel discussion.

The Internet Computer (ICP), 7-day graph, source: CoinMarketCap

The Internet Computer, developed by the DFINITY Foundation, seeks to transform the internet into a public computing platform, hosting software and services directly on the web to eliminate reliance on traditional servers and cloud services, with the goal of decentralising the internet and its software services.

Arweave (AR)

Arweave (AR) has gained almost 30% in the past week, with 13% of that growth stemming from the past 24 hours. AR’s surge comes on the back of a recent testnet launch of a so-called hyper parallel computer. Dubbed aoTheComputer the project has already made some of its own announcements.

Holographic state is a key innovation used in ao that enables boundless scalability for decentralized compute.

Instead of coming to consensus about the state of computation itself, ao ensures logs of interactions are stored on Arweave, creating a ‘hologram’ of the state. 👇 pic.twitter.com/kOAxkrz5Pl

— ao (@aoTheComputer) March 25, 2024

Holographic state, utilised in ao, facilitates limitless scalability for decentralised computing by focusing on storing interaction logs on Arweave to create a ‘hologram’ of computational state, rather than achieving consensus on the state itself.

Arweave (AR), 7-day graph, source: CoinMarketCap

Related: ASIC Commissioner Unveils Strategy To Tackle Blockchain’s Regulatory Trilemma

Arweave provides a decentralised storage network for permanent data storage using a unique “blockweave” structure, enabling scalable, one-time fee, on-chain storage for long-term data preservation.

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