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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

December 24, 2021
Dfinity's Internet Computer Opens Ethereum Bridge
May 7, 2021
Dfinity launches its decentralized 'internet computer'.
January 23, 2020
Dfinity launches an open source platform aimed at the social networking giants

August 2018
Dfinity raises a $102,000,000 venture round from Amino Capital, Andreessen Horowitz, Aspect Ventures, Multicoin Capital, Polychain Capital, SV Angel, Scalar Capital and Village Global.
February 13, 2018
Dfinity was founded by Dominic Williams.
February 8, 2018
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.

February 7, 2018
Dfinity raises a $61,000,000 venture round from Andreessen Horowitz and Polychain Capital.
October 26, 2017
Dfinity testnet demo is released

February 15, 2017
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.

February 14, 2017
Dfinity raises a $4,300,000 initial Coin Offering.

Funding rounds

Patents

People

Name
Role
LinkedIn

Andreas Rossberg

Arthur Falls

Artia Moghbel

Ben Lynn

Blair Lewis

...

Further reading

Title
Author
Link
Type
Date

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

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Omar Faridi
May 21, 2021
Crowdfund Insider
Björn Tackmann from DFINITY explains how Internet Computer replaces usernames, passwords with secure cryptographic authentication.
Shalini Nagarajan
May 12, 2021
markets.businessinsider.com
The first day of trading saw its price swing wildly as it hit an intraday high of $700 before declining to around $250.
Michael Cogley
May 8, 2021
Business Insider
The Swiss nonprofit has just launched blockchain-based web hosting capability that aims to break Big Tech's stranglehold on the internet.
Mike Orcutt
May 7, 2021
The Block
Dfinity got a lot of attention in 2018 when it raised $160 million in venture capital. Today it finally launched its blockchain network.
Mike Butcher
January 23, 2020
TechCrunch
When Dfinity raised $102 million in funding in 2018 at a $2 billion valuation in a round jointly led by Andreessen Horowitz and Polychain Capital, it represented a step change in the world of blockchain technology. In an area that at the time was more synonymous with cryptocurrency speculation, this was a change in focus, [...]

References

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