- The ICP community has accepted all proposals from DFINITY developers.
- The 1-Proposal SNS launch process was introduced on August 28th.
- Internet Computer (ICP) price rose by 3.16% in the past 24 hours.
The team of developers at DFINITY, who are working on the Internet Computer Protocol, have confirmed that the ICP community has accepted all proposals. Additionally, the SNS initialization feature’s 1-proposal has been activated. In August 2023, the Network Nervous System (NNS) approved the launch of an updated version of SNS featuring a streamlined and simplified process.
On the 28th of August, the development team at DFINITY took to Twitter to announce the introduction of the 1-Proposal launch process. This streamlined procedure necessitates only a single NNS proposal to initiate the generation of SNS canisters and to commence and conclude the decentralized swap. Furthermore, several decentralized application (dapp) projects have already begun strategizing and experimenting with the SNS launch.
ICP is actively shaping the blockchain ecosystem
The Service Nervous System (SNS) represents an evolved version of a Decentralized Autonomous Organization (DAO). It functions as a digital democracy capable of operating decentralized applications (dapps), including social networks, in a completely decentralized manner. Furthermore, an SNS is a derivative of a Network Nervous System (NNS), an autonomous, tokenized governance system that manages the Internet Computer blockchain in a fully decentralized fashion.
The Internet Computer Community is persistently molding the characteristics and enhancements of the blockchain through a series of technical updates. The DFINITY Foundation has proposed collaborating with developers and stakeholders, enabling them to establish a decentralized and tokenized governance structure for their decentralized applications (dapps). Among the various proposals, the Service Nervous System stands out.
The initiation of 1-Proposal SNS equips the Dapp with ample cycles for operation, feature enhancement, and scalability in response to demand. Furthermore, SNS provides a platform for token-centric governance, which can be leveraged to draw users to their Dapps and stimulate network effects to broaden their influence. Conversely, Internet Computer
As of the latest update, the Internet Computer (ICP) is priced at $3.54, marking a 3.16% rise in the past 24 hours. CoinMarketCap data reveals a significant uptick in ICP’s daily trading volume, which has skyrocketed by approximately 169.59%.
