Internet Computer rises to £215 – what is the new cryptocurrency and is it better than Bitcoin?

Since the invention of cryptocurrency Bitcoin in 2009, the number of digital coins has mushroomed. Punters have made fortunes by buying the next hot token before other investors have cottoned on, but investing in unproven coins is risky as they could end up falling flat. CoinMarketCap, a cryptocurrency data group, estimated there were around 9,000 coins other than Bitcoin, known as “altcoins”, representing around 40c of the value of the value of the total cryptocurrency market. A new kid on the block making waves is Internet Computer, which now has a market value of $35bn (£25bn) and is the eighth largest cryptocurrency. The value of Internet Computer coins has passed £200 each. But it is not the only coin to have made an impact. These are the biggest altcoins cryptocurrency fans should know about. Internet Computer Launched this week by Dfinity, a Swiss non-profit organisation that has raised more than $120m from prominent Silicon Valley investors, it will allow computer coders to develop software on its "blockchain" network. This would mean they no longer need to rely on cloud computing giants such as Amazon and Microsoft to host their programmes. This design would prevent the localisation of the internet in a few key regions, Dfinity has claimed, adding that its Internet Computer system could withstand a nuclear strike because it will be based around the globe. Dominic Williams, Dfinity's British founder has said: “We want people to abandon traditional IT and move all systems and services to smart contracts.” Coinbase, one of the world’s largest cryptocurrency exchanges, allows trading in Internet Computer.