Dfinity's Disruptive Blockchain Network

Started by dragon, Aug 01, 2022, 02:31 AM

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Dfinity's revolutionary Internet Computer aims to transform the cloud computing industry by establishing a secure and decentralized blockchain network that enhances the functionality of the internet.

The network operates on a distributed system of computers worldwide, paving the way for next-generation decentralized applications, such as Uber and Facebook. Unlike Ethereum's energy-intensive mining process, Dfinity employs a unique consensus algorithm called 'Threshold Relay' based on a variation of Proof of Stake.

Additionally, the 'Chain Key Technology' is utilized to divide smart contract functions into two categories, 'update calls' and 'query calls,' to hasten transaction speed. ICP tokens are used both as gas for network operations and as voting rights for decisions pertaining to Internet Computer's future. Dfinity's vision is to create an open-access internet that drives the development of these next-gen apps.
Ultimately, it seeks to remove bottlenecks and simplify the process of building and maintaining technological systems in IT stacks.


So ICP just resolves the scaling problem? And why is it better then Cardano or the darkness of other similar projects? At least a comparison of bandwidth added something.

The drop was brilliant - for a little help in testing (2-3 hours), 120 ICP fell, which after 3 years turned into ~ 30,000 USD
at the average rate in the first days of listing (though with a gradual monthly unlock, but even now it is more than 12k USD)


Investing in Internet Computer (ICP) may not be a wise decision as the project developers unlocked ICP immediately after listing on Coinbase, selling existing ICPS at peak levels, earning hundreds of millions of dollars. Despite support from exchanges like Binance, Huobi, and OKEx, the ICP price has continued to fall, reaching $28 in June after five weeks of trading.

Reports by Arkham Intelligence analysts suggest that project developers transferred $3 billion worth of ICP to various crypto exchanges while the ICP's price was falling. The Internet Computer team has been vocal about their ambition to improve the internet and disrupt IT monopolies, but they have yet to release a single working product in four years. As a result, Internet Computer is on the verge of falling out of the top 20 due to decreasing capitalization, price, and trading volume. This serves as a cautionary example of scams and scam developers in the crypto market.


Dfinity is a decentralized cloud computing network known as the Internet Computer that aims to extend the functionality of the public internet. Spearheaded by the Dfinity Foundation, it seeks to disrupt traditional Information Technology models by providing a decentralized infrastructure for the next generation of software and services.

Here's an overview of the key concepts and characteristics that make the Dfinity network potentially disruptive:

Decentralized Infrastructure: It's a decentralized cloud computing resource that consists of countless independent data centers and provides developers with a secure, scalable, and efficient way to develop their applications, systems, and services.

Chain Key Technology: Dfinity's Network Nervous System (NNS) uses an advanced technology named Chain Key. It splits smart contract function execution into two types: query calls (which are free and return data) and update calls (which cost cycles and can change the state). This technology speeds processing time and vastly extends the network's capacity.

Network Nervous System: The NNS is an open, tokenized governance system connected to the Internet Computer Protocol. It's an autonomous software that governs the network and enables upgrades to be made on the fly or the network to be hard-forked. This could decentralize the traditional model of internet services, dis-intermediate platform risk, and create a thriving open market instead.

Infinite Scaling: The Internet Computer scales out its capacity through something called 'subnetting', allowing data-processing capacities to increase along with demand. This means it can process and store data more efficiently than traditional blockchain network models.

Interoperability: Dfinity also aims to allow different software services to interact and communicate in a seamless manner, which is unlike in conventional blockchain models where smart contracts are unable to call software running outside of their blockchain.

Open Internet Services: It's designed to allow any independent data center to connect with other centers to contribute capacity to the Internet Computer, generate income for doing so, and democratize the internet.

Revolutionizing Traditional IT models: By providing a decentralized alternative to traditional cloud services, Dfinity seeks to change the web's current monopolistic hold by a few powerful companies. It envisions a web where developers create open internet services and software systems without the need for Amazon, Google, or Facebook.

Here are some more ways in which the Internet Computer could potentially disrupt the technology landscape:

Shift Toward Decentralized Applications (dApps): Dfinity's Internet Computer allows developers to build applications directly on the public internet rather than on server farms that are typically owned by large corporations. These dApps can run on the network without dependencies on Amazon AWS, Google Cloud, or Microsoft Azure. In a similar vein, dApps allow developers to avoid platform risk, where changes by large platforms can impact an app's operation or its business model.

Data Privacy and Security With the Internet Computer, user data can be stored in a decentralized manner rather than in traditional data centers. Users control their own data, improving both transparency and privacy. Furthermore, by removing the need for traditional data centers, the impact of data breaches or targeted attacks against single points of failure could be mitigated.

Seamless Upgrade and Maintenance The Internet Computer handles protocol upgrades, network configuration, and other systems maintenance tasks automatically, reducing application downtime. It's built to be adaptable and upgradeable from the ground up.

Reimagined Software Development: Beyond the benefits of decentralization, Dfinity's Internet Computer is also designed to simplify the development of complex systems by unifying the functionality needed to create web applications into a single protocol. As such, developers would not need to stitch together numerous services to build an application, reducing complexity while improving consistency.

Economic Efficiency: The Internet Computer is also designed to be economically efficient, allowing developers to serve user demands exactly as they come in, reducing over-provisioning. By real-time adjusting resources and applying better computer science, the computing capacity should be used with near-optimum efficiency.

Launched in 2016, Dfinity's vision was the Internet Computer (IC), a decentralized, unstoppable, and unlimited cloud that reimagines the internet as a public resource. Although the project has attracted significant attention, it also faces considerable scrutiny and challenges due to its ambitious goals.

Here are some more details about Dfinity and the Internet Computer:

Motoko Programming Language: Dfinity introduced a new programming language called Motoko that is optimized for the Internet Computer. Motoko's design aims to provide safety and interactivity with the Internet Computer's unique features and capabilities.

Compatibility with Existing Systems: Dfinity's Canister SDK and the Internet Computer network allows developers to code in Motoko, Rust, and other languages that compile to WebAssembly (WASI). It means traditional developers don't need to learn entirely new languages or radically change their programming methodologies to adapt to the platform.

Eliminating Monopolies: One of the key objectives of the Internet Computer is to eliminate the internet monopolies created by Big Tech companies. The monopoly of Big Tech companies on user data and digital operations is a growing concern, and Dfinity aims to overcome this by decentralized alternatives.

Decentralized Identity: In Dfinity's platform, users will exert sole control over their personal data in what Dfinity terms "Internet Identity" or "I.I." Users can authenticate themselves to dApps without usernames, passwords, or having their private information tracked across the internet.

Environmental Sustainability: Dfinity's consensus protocol aims to be energy-efficient, differentiating it from more energy-intensive consensus mechanisms like Bitcoin's Proof-of-Work.

As with any technology project, especially those as ambitious as Dfinity's Internet Computer, the success will partly rely on user adoption and the overcoming of technical hurdles. Understandably, there are also concerns over Dfinity's bold ambitions, including skepticism over whether it can truly replace the established order in tech. There are also significant regulatory hurdles to overcome, given the decentralization and global nature intrinsic to projects like Dfinity's Internet Computer.