The ICP Summary

3 min readDec 18, 2022

This week, preparing for the holidays

Internet Computer Developments

The Internet Computer became more efficient with the Timer API, which allows for a more fine-grained control than heartbeat function.
Dominic Williams, the founder of ICP, provided an important thread regarding “Proof-of-Useful-Work” on IC. Check out his thread here.

Dfinity has released yet another Motoko update, this time introducing the new generational garbage collector (GC) that has been deployed to the Motoko Playground. This contributes to lower ICP canister cycle costs.
Users of MetaMask can now use their wallets to generate an NFID and add a Passkey for faster and more secure access to all ICP dapps.
Dfinity released the ICP deck from their “Public Global R&D”, serving it directly from the ICP using certified/pre-finalized HTTP query transactions.

Finterest, a DeFi platform on ICP, has completed a whopping $1.5 million seed round, led by polychain and 9YardsCapital.
HotOrNot, the Web3 TikTok alternative, held a Crowdfunding campaign that sold out within minutes of its Public Release, following their viral user growth last week.

InfinitySwap introduced the new Bitfinity wallet, a rebrand of the Infinity wallet, celebrating the infinite potential for BTC integration on ICP.
ICLighthouse, an ICP-based DeFi infrastructure project, upgraded its IICDex canister, resulting in improved performance, increased concurrency, and bug fixes.
Kyle Langham published the “Internet Computer Ecosystem Report, Nov 2022” to shed light on multiple metrics for measuring the growth of the IC ecosystem, such as cycles burned and user growth.

medium.com

FindTruman, a Dfinity grantee, has launched “co-creation functions” on their ICP UGC Editor platform.
BoxyLand reduced the total supply of BoxyLand to 4300, locking the remaining supply and taking them out of circulation without burning and affecting rarity.

Sam Bankman-Fried, who founded and led FTX until a liquidity crunch forced the cryptocurrency exchange to declare bankruptcy last month, was arrested on Monday in the Bahamas after being criminally charged by US prosecutors.
Apple is gearing up to permit third-party app stores on its devices to comply with new anti-monopolistic requirements from the European Union (EU). This could be a win for crypto and NFT app developers, at least in Europe.

cointelegraph.com

Thai SEC to tighten up rules for crypto, highlighted the importance of tighter control over cryptocurrency-related advertisements.
Reddit’s NFT program is onboarding users into Web3, with more than 4.25 million unique wallets holding the Polygon assets.
Celebrities that promoted Bored Ape NFTs are now facing a class action lawsuit alongside Yuga Labs Inc., specific charges include violations of unfair competition laws, aiding and abetting, among others.