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Dfinity

Dfinity

Dfinity is a decentralized computing network currently in development using blockchain technology and algorithmic governance.

Dfinity is a decentralized computing network currently in development using blockchain and algorithmic governance supported by the crypto studio String Labs based in Palo Alto, CA, USA. The dfinity protocol is designed to be self governing through a network Dfinity calls a "Blockchain Nervous System", with a proof of stake consensus like consensus algorithm using a verifiable random function known as a randomness beacon. It was founded in 2014 and includes chief scientist and president Dominic Williams, CEO Tom Ding, Timo Hanke, Ben Lynn and others. The company is privately held with funding both from community fundraising as well as venture capital funding from Polychain Capital, Andreessen Horowitz and others.

Consensus mechanism

Decentralized consensus is separated into four layers beginning with the identity layer, then the random beacon layer, then the blockchain layer, and finally a notary layer. Quorum selection is driven by a verifiable random function or randomness beacon, which produces a source of cryptographic randomness.

Timeline

Dfinity announces a $61M fundraising round led by Polychain Capital and Andreessen Horowitz

The round $61M round led by Polychain Capital and Andreessen Horowitz, along with an DFINITY Ecosystem Venture Fund which will be used to support projects developing on the DFINITY platform, and an Ethereum based raise in 2017 brings the total funding for the project over $100 million. This is the first cryptocurrency token that Andressen Horowitz has invested in, led by Chris Dixon.

Dfinity testnet demo is released

Ethereum based community seed round raises 4M Swiss francs (CHF)

The round was raised by the DFINITY Stiftung, a not-for-profit foundation entity based in Zug, Switzerland. The foundation held $10M of assets as of April 2017.

People

Name
Role
Related Golden topics

Andreas Rossberg

Arthur Falls

Artia Moghbel

Ben Lynn

Blair Lewis

Bryan Ford

Cedric Waldburger

Cristina Basescu

Dominic Williams

Eleftherios K'-Kogias

Enzo Haussecker

Ewa Syta

Linus Gasser

Maciej Wos

Mahnush Movahedi

Martin Becze

Michael Hunte

Nicolas Gailly

Norton Wang

Paul Liu

Philipp Jovanovic

Robert Lauko

Shigeo Mitsunari

Steve Omohundro

Stevens Le Blond

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Further reading

Title
Author
Link
Type

Blockchain Project Raises $61 Million from A16Z, Polychain Capital - CoinDesk

Stan Higgins

Dfinity raises $61 million for blockchain-based cloud

Mo Marshall

Dfinity raises $61 million for platform that rivals ethereum

Seema Mody

DFINITY Technology Overview Series Consensus System

Timo Hanke, Mahnush Movahedi, Dominic Williams

Dfinity: Inside the blockchain nervous system of the 'World Computer'

Ian Allison

The DFINITY “Blockchain Nervous System” – DFINITY Blog – Medium

Dominic Williams

Documentaries, videos and podcasts

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Companies

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References