THIS is the Internet Computer (ICP) Dip You've Been Waiting For | ep. 64

Summary

In this Blockchain Pill video, Alex discusses the ICP ecosystem's recent developments, highlighting the interview with Dominic Williams and the strong base formed after a 3-month consolidation. Despite market fears and Bitcoin's drop, Alex remains bullish on ICP, seeing the dip as a buying opportunity. Definity's activities, including Paris Blockchain Week's impact and the Olympus accelerator, are also covered. The upcoming ICP Community Conference is teased, along with updates on projects like Dragons and Boom Da, emphasizing the ecosystem's growth and potential.

Takeaways

• 📈 The ICP price and overall crypto market experienced significant fluctuations, with Bitcoin dropping from $77,000 to almost $60,000.
• 🗣️ Alex mentioned that ICP was preparing to reach $38 if Bitcoin remained stable, but the market dip affected this projection.
• 💡 Despite the market downturn, Alex viewed it as a strong buying opportunity for ICP, having purchased more himself at around $11.
• 🔗 Definity had a busy week, with Dominic and the team attending Paris Blockchain Week and showcasing the unique capabilities of ICP, such as on-chain AI.
• 🤖 Dominic discussed the potential of smart contracts that can span multiple blockchains, highlighting ICP's interoperability advantage.
• 🚀 Definity introduced Olympus, an on-chain web 3 accelerator with $15 million in funding, aiming to foster inclusivity in the ICP ecosystem.
• 🌐 The ICP Community Conference (IPCC) is approaching, with global meetups and a significant airdrop event planned for May 10th.
• 🎉 The IPCC aims to decentralize the conference structure, allowing participants to become part owners and influence future events.
• 🐉 Dragons, a notable ICP project, got listed on Helix markets, enabling trading of the DKP token with a USDC pair.
• 📝 Mod Club deployed a revolutionary on-chain AI model, Redactor, to detect and obscure abusive language in text, improving platform safety.
• 🎮 Boom Da announced the launch of its Alpha version and the first game to go live on its ecosystem, IC kitties, showcasing progress in their infrastructure development.

Q & A

What was the speaker's prediction for ICP price last week?

The speaker predicted that if Bitcoin doesn't do anything silly, ICP is preparing and getting ready to go to $38.

How did the speaker react to the recent drop in cryptocurrency prices?

The speaker viewed the drop as a buying opportunity and purchased more ICP when the price was around $11, showing support for the project.

What significant event happened at Paris Blockchain Week involving the ICP ecosystem?

Dominic, the founder of ICP, took the stage at Paris Blockchain Week to talk about AI smart contracts and the unique capabilities of the Internet Computer Protocol.

What is the main advantage of ICP's smart contracts according to the speaker?

ICP's smart contracts can read from and write to different blockchains, enabling developers to create smart contracts spanning multiple chains without relying on any trusted intermediary.

What is the purpose of the Olympus onchain web three accelerator?

Olympus aims to foster inclusivity within the ecosystem by creating a marketplace accessible to qualified projects without permission, with $15 million in funding and mentorship from various investors.

What is the ICP Community Conference (IPCC) and what can attendees expect?

The IPCC is an event dedicated to highlighting projects and builders in the ICP ecosystem. Attendees can expect a celebration with like-minded ICP enthusiasts, ICP meetups in 20 cities worldwide, and a galactic airdrop during the May 10th conference.

How has the Dragons project progressed within the ICP ecosystem?

Dragons have been listed on Helix markets, allowing for the trading of their DKP token with a USDC pair, which is a significant development for the project and the ICP ecosystem.

What new feature did the Mod Club team deploy onchain?

The Mod Club team deployed a reactive onchain AI model called Redactor that detects abusive language in text, utilizing a convolutional neural network for more accurate and nuanced detection.

What update was announced by Boom Da and P Arena?

Boom Da and P Arena announced the official launch of the Boom Gaming Guild Alpha version, with the first game to go live on the Boom ecosystem being IC Kitties.

What is the speaker's perspective on the current state and future of the ICP ecosystem?

The speaker believes that a lot has been happening within the ICP ecosystem and is optimistic that the prices will start reflecting the developments and progress made.

What is the significance of the 9-hour live code drop during the May 10th ICP Community Conference?

The 9-hour live code drop will allow participants to claim rewards and dive into the ecosystem, making the event interactive and engaging for the ICP community.

Outlines

00:00

📉 ICP Market Analysis and Interview Highlights

This paragraph discusses the recent trends in the ICP ecosystem, focusing on the price of ICP and the overall state of the crypto market. It mentions a significant event where the speaker, Alex, met Dominic and conducted an interview. The discussion revolves around the anticipation of ICP reaching $38, the impact of Bitcoin's price fluctuations on the market, and the perception of the current market situation as a buying opportunity. Alex shares his personal decision to buy more ICP during the downturn and expresses optimism about the future price trajectory. The paragraph also highlights the importance of on-chain AI and the unique capabilities of ICP, as demonstrated by Dominic at Paris Blockchain Week, which led to a surge in internet identities created on the platform.

05:01

🌐 ICP Community and Project Updates

The second paragraph delves into the activities within the ICP community and ecosystem. It talks about the upcoming ICP Community Conference (ICCC) and the global meetups that are being organized in various cities. The speaker encourages participation in these events and mentions the 'galactic airdrop' that will occur during the conference. The paragraph also covers the progress of specific projects within the ICP ecosystem, such as Dragons being listed on Helix markets and the development of the Mod Club's on-chain AI model for detecting abusive language. Additionally, it discusses the updates from Boom Da, including the launch of their Alpha version and the integration of the first game, IC kitties, into their infrastructure. The speaker concludes by emphasizing the importance of these developments and the potential for the ICP ecosystem to flourish.

Keywords

💡ICP ecosystem

The ICP ecosystem refers to the network and environment surrounding the Internet Computer Protocol (ICP), which includes its cryptocurrency, developers, projects, and community. In the video, the host discusses various updates and developments within this ecosystem, indicating its growth and potential for innovation.

💡Bitcoin

Bitcoin is a decentralized digital currency that operates on a peer-to-peer network, often considered the first and most well-known cryptocurrency. In the context of the video, Bitcoin's price fluctuations and market behavior serve as a benchmark for the performance of other cryptocurrencies, including ICP.

💡Dominic Williams

Dominic Williams is the founder of the Internet Computer Protocol (ICP) and plays a pivotal role in its development and promotion. His insights and presentations, as mentioned in the video, contribute to the understanding and perception of ICP within the blockchain community.

💡On-chain AI

On-chain AI refers to the integration of artificial intelligence directly into the blockchain, enabling smart contracts and decentralized applications to utilize AI functionalities without relying on off-chain computations. This concept is significant in the video as it differentiates ICP from other blockchains and showcases its innovative capabilities.

💡Definity

Definity is a project within the ICP ecosystem that focuses on the development and support of blockchain applications. In the video, Definity's activities and initiatives, such as the Olympus accelerator and the AI model called Redactor, are highlighted as key components contributing to the growth and innovation within the ICP ecosystem.

💡Interoperability

Interoperability in the context of blockchain refers to the ability of different blockchain networks to communicate and exchange data with each other. This is a crucial aspect for the ICP ecosystem as it enables smart contracts to interact with multiple blockchains, enhancing its utility and reach.

💡ICP Community Conference (ICCC)

The ICP Community Conference (ICCC) is an event that brings together developers, projects, and enthusiasts from the ICP ecosystem to share knowledge, discuss updates, and foster collaboration. It serves as a platform for the community to learn about new developments and engage with the ICP network.

💡Helix markets

Helix markets is a platform within the ICP ecosystem that facilitates the trading of various tokens, including those associated with ICP projects. It provides users with the ability to exchange digital assets, contributing to the liquidity and accessibility of ICP-based tokens.

💡Stable coin

A stable coin is a type of cryptocurrency designed to minimize price volatility by pegging it to a reserve of assets, often a fiat currency like the US dollar. In the context of the video, the lack of a stable coin within the ICP ecosystem is noted, with the trading of DKP against USDC as a workaround.

💡Decentralized gaming guild

A decentralized gaming guild is a community-driven organization within the blockchain gaming space that allows members to collaborate, share resources, and participate in gaming activities. These guilds often have their own tokens and reward systems, creating a unique ecosystem for gamers and investors.

💡Airdrop

An airdrop in the context of cryptocurrencies refers to the distribution of free tokens or coins to wallet addresses by a project or platform. Airdrops are often used as marketing strategies to increase awareness, attract new users, and incentivize participation in a blockchain network.

Highlights

Interview with Dominic Williams, the founder of ICP, discussing the unique capabilities of the Internet Computer Protocol (ICP) and its advancements over competitors.

ICP's price prediction of reaching $38, based on previous trends and market analysis.

Bitcoin's significant drop from $77,000 to almost $60,000, influencing the overall crypto market sentiment.

The importance of ICP's three-month consolidation period, leading to a strong base for potential growth.

The opportunity to buy ICP at a lower price during market fear, emphasizing the potential for future gains.

The healthiness of the market correction, providing a chance for a more sustainable growth cycle.

Definity's activities, including Dominic's talk at Paris Blockchain Week about AI smart contracts and the impact on ICP's perception.

The demonstration of the first on-chain AI and its significance for the Internet Computer Protocol.

The establishment of over 35,000 new internet identities following the AI on-chain demo.

Chain Fusion smart contracts allowing interoperability across major blockchains without intermediaries.

Olympus, the on-chain web 3 accelerator platform, receiving $15 million in funding and mentorship.

The upcoming ICP Community Conference (IPCC) and the plans for a decentralized and community-driven event.

The ICP ecosystem's growth, with 20 cities worldwide buzzing with ICP energy and meetups.

The galactic airdrop during the May 10th ICPC conference, offering live codes and rewards.

Dragons, one of the favorite ICP projects, getting listed on Helix markets for trading with a USDC pair.

Mod Club's deployment of an on-chain AI model, Redactor, to detect and obscure abusive language in text.

Boom Da's updated gaming guild website and the launch of its Alpha version with IC kitties as the first game.

The need for Boom Da to deliver on promises and regain investor trust amidst token price decline.

Transcripts

welcome back to blockchain peill my name

is Alex and today we'll see what's been

happening inside the ICP ecosystem the

previous week and the most exciting

thing that happened last week is I

finally met Dominic and we did an

interview together but more than that

later let's start with the ICP price and

with the crypto prices in general

because if you spend any amount of time

on X the previous days you would think

that Bitcoin is now trading at sub

$30,000 World War III almost started and

you would think that everything is

finally over and we're going to zero and

remember last week I said that if

Bitcoin doesn't do anything funny I

think that ICP is preparing is getting

ready to go to $38 we have been

consolidating on top of the previous

range and gaining more and more power if

Bitcoin doesn't do anything silly we are

set to go all the way up to about 37 $38

if everything goes according to planet

and of course what did Bitcoin do it

went down from

$772,000 all the way to almost $60,000

crypto Twitter was extremely bearish

everybody thought that we're going to

zero literally every single coin dumped

30% 20% 50% Solana dropped from $210 to

almost $100 $120 crazy ICP the good

thing about consolidating for 3 months

is that we now have a very very strong

base and as long as we will not break

under it I think we are good to go

unfortunately I think that a lot of

people got scared and sold all of their

crypto with the bad news that were

coming but think about it if you liked

ICP when ICP was $20 and now it is $122

this is a great buying opportun

opportunity this is a buying opportunity

that I think we will not see in the

future we are literally two or 3 days

away from the Bitcoin having and people

are selling their crypto which is insane

to me when everybody was bearish I

bought some more ICP around $11 and two

pennies or something to show the ICP

community that I believe in ICP now more

than ever I think this is a great buying

opportunity and I think that we are

going to go much much higher this

correction is very healthy because if we

kept going up and up and up and up and

up you know you you got to stop

somewhere a lot of people were calling

for a shorter cycle and I think that

this correction if it's going to turn

into a longer correction I think that is

even better because we'll have time to

expand this cycle and by expanding the

cycle we are going to hit higher prices

I would have loved for the prices to

keep going up and up and up and up but I

use this opportunity to load up on more

ICP and I'm looking forward to see where

the price is going to go and you know

what we'll keep you guys updated every

week like we have been doing for so many

weeks already let's have a look at what

definity has been up to the previous

week because it's been quite a week for

def like so many things going on as many

of you guys know Dominic and the

definity team were present at Paris

blockchain week Dominic took the stage

and talked about AI that is a smart

contract why and how and we all remember

the demo that Dominic did about the

first onchain Ai and how that affected

the price and people's perception about

the internet computer protocol now all

of a sudden people realize that ICP can

do something that no other blockchain

can do and that is a huge deal and

Dominic took the stage here is a picture

of Dominic on stage I arrived at Paris

blockchain week 20 minutes after and

here comes the cool part because I

managed to get in touch with Dominic's

team so shout out to Ricardo and shuti

which got me in touch with Dominic and I

actually managed to do my very first

interview with Dominic Williams himself

and we talked about what ICP does you

know why onchain matters why ICP is way

ahead of all of its competitors and if

you didn't watch this interview I highly

High recommend you actually go and watch

it I have to say like Dominic is such a

chill guy so passionate about the

internet computer protocol and after

having met him I can safely say that I'm

now more bullish on the internet

computer protocol than I have ever been

a huge shout out and thank you to Paris

blockchain week with whom I got in touch

and they managed to get me interpr

blockchain week to have this interview

with Dominic and to my surprise it took

them like 10 minutes thank you very much

for making this possible definitely

posted at over 35,000 new internet

identities have been created and this

was just after Dominic did the AI

onchain demo so it's really nice to see

this huge increas in Internet identities

we have an article about chain Fusion

smart contracts can now span multiple

blockchains in enabling webbased

multi-chain wallet trustless asset Twins

and let's have a brief look at this

article here ICP enables direct

interoperability with all major

blockchains including Bitcoin ethereum

other EVMS and very soon Solana without

relying on any trusted intermediary this

is unique compared to other blockchains

ICP smart contracts can read from and

write to different chains enabling

developers to write smart contracts

spanning different chains definity

introduced Olympus an onchain web three

accelerator so $15 million of funding

and mentorship from various investors

Olympus is set to launch on the internet

computer as the first decentralized

onchain web 3 accelerator platform

aiming to Foster inclusivity within the

ecosystem by creating a Marketplace

accessible to qualified projects without

permission so a lot of stuff happening

for definity it was a pretty busy week

for Dom and the team let's have a look

at what ICP Community Conference has

been up to we're actually less than one

month away from ipcc kickoff let's have

a look at the thread for the past few

months the iccc team has been dedicated

to making ICPC amazing we're honored to

highlight the incredible projects and

builders in the ICP ecosystem the

brightest we've ever seen it's organic

it's real and it's all thanks to you

from Berlin to Milwaukee 20 cities

worldwide each of them buzzing with ICP

energy so there's going to be a bunch of

ICP meetups happening around the world I

recommend you go check their website to

see if there is a conference near you I

recommend you go there and celebrate it

with other like-minded ICP people

there's going to be a huge ICP ER drop

during the May 10th ICP conference iccc

is going to drop live codes for 9 hours

you can claim rewards and dive into the

ecosystem with the galactic airdrop and

then on May 10th you won't just be

attending ICPC you'll be taking it over

the next iccc will be organized by the

people and I did a podcast with ISAC

which I recommend you go watch if you

haven't watch it already during the May

10th onboarding event they're planning

to decentralize ICP Community Conference

via the SNS and everybody who

participates in this sale will become

part owners and will decide how the next

conferences are going to happen so if

you haven't already registered to ICPC

2024 I recommend you go and get your

ticket it is free on Evan bright the

link is going to be in the description

below to get your free ticket and let's

have a look at what the icps ands

projects have been up to and one of the

biggest news comes from dragons which

are one of my favorite projects on the

internet computer protocol they have

been listed on Helix markets and finally

we are able to trade the dkp token with

an usdc pair because we don't have a

stable coin on the internet computer

protocol a lot of people have been

complaining that I want to be able to

trade ICP tokens versus you know a

stable coin and now on Helix markets you

are able to trade dkp with an usdc pair

and I love seeing that I want to see

more ICP projects getting listed on

Helix markets and I think the next one

is probably going to be like Sonic if

it's not listed already how or not which

is now viral and and so on so this is

very positive for Dragons this is has

been one of the best performing tokens

inside the ICP ecosystem secondly we

have mod club with some exciting news

the mod club team deployed a re uary

onchain AI model called redactor that

detects abusive language in text the

lead AI engineer explains how it works

in this video basically they utilize

gpt2 tokenizer hosted onchain as a

canister to efficiently segment input

text into individual tokens the level of

blur applied to each token is determined

by its score effectively obscuring

harmful content this Innovative system

leverages a convolutional neural network

to analyze the context of nearby words

leading to more accurate and nuanced

detection we have an up update from Boom

Da the boom gaming guild website has

been updated with the latest SNS

proposals it now shows the value

proposition of the first ICP gaming

guild play games complete quests and

have fun get meme coins earn token

rewards and farm airdrop and the first

5,000 people that register will get an

air drop badge and can claim free boom

tokens on their website then there's

another big update from Boom Da and P

Arena they announced the official launch

of the boom gaming guild Alpha version

and the first game to go live on the

boom ecosystem comes from an amazing

team and strong Community IC kitties

that is pretty cool that Buda has been

improving their infrastructure and now

we finally see the first game to use the

Boom Da infrastructure and I am aware of

the Jerry Banfield video about boom and

they better start delivering it because

it is true the token price has been

going down and down and down and down

absolutely I agree that they have a lot

of work to do and a lot of catching up

to do to regain the trust of the

investors so I'm looking forward to see

more and more games getting added to the

Boom Da infrastructure and to get them

interconnected and see them deliver on

the Promises they made so we can all

agree that a lot has been happening

inside the ICP ecosystem and I think

that the prices are going to start

reflecting that as well so stay strong

and we'll keep updating you every week

with what's been happening inside the

ACP ecosystem and with that we're done

thanks for watching and I'll see you in

the next video