DFINITY - Are we looking at the third generation Blockchain?

[magpie_lover]

So DFINITY released the White Paper on their consensus algorithm that describes some novel methods to solve the issue of scaling in blockchain networks.
The White Paper is very technical but their Website has enough stuff that explains what they are trying to achieve. Note that DFINITY is a new Blockchain network (like Bitcoin, Ethereum, NEO)

The main things that caught my attention are;

- A Random Beacon design based on the Threshold Relay concept to achieve consensus (more secure, sybil resistant)
- A Blockchain Nervous Sytem to bring about a governance mechanism based on “The AI is Law” paradigm

Here's the blog post by Timo Hanke, Head of Engineering DFINITY - https://medium.com/dfinity/dfinity-white-paper-our-consensus-algorithm-a11adc0a054c

I'm pretty excited about DFINITY, think it will be massive for Enterprise adoption of blockchains. What do you guys think?

[gigantus]

The project looks really impressive. But the abundance of technical descriptions makes it difficult to perceive. Maybe someone will explain. And by the time I did not quite understand when they start ico.

[magpie_lover]

The project looks really impressive. But the abundance of technical descriptions makes it difficult to perceive. Maybe someone will explain. And by the time I did not quite understand when they start ico.

Yep thats right! There is much incomprehensible technical jargon in the paper.  Basically they are trying to build a highly scalable blockchain network with a universal, intelligent governance model . Or you could say that they are trying to fix some of the major issues with the existing networks- e.g Ethereum

They haven't announced the dates for the public round.

[magpie_lover]

Article on DFINITY - http://www.ibtimes.co.uk/dfinity-inside-blockchain-nervous-system-world-computer-1652331

Not quite ELI5 but could be of help to many.

[Bagorrr]

DIFINITY is a massive perspective project. I think the future of blockchain is just for such projects

[magpie_lover]

DIFINITY is a massive perspective project. I think the future of blockchain is just for such projects

I agree! It will be huge for Enterprise adoption of blockchain.

[magpie_lover]

DFINITY presentation at BPASE'18, Arrillaga Alumni Center, Stanford University

https://www.youtube.com/watch?v=9HRurPVF3Pg&feature=youtu.be

About BPASE - Blockchain Protocol Analysis and Security Engineering
This conference will explore the use of formal methods, empirical analysis, and risk modeling to better understand security and systemic risk in blockchain protocols. We aim to foster multidisciplinary collaboration among practitioners and researchers in blockchain protocols, distributed systems, cryptography, computer security, and risk management - source.

[magpie_lover]

DFINITY just raised 61 million from venture capital firm Andreessen Horowitz and hedge fund Polychain Capital.

Here's the NY times article;
https://www.nytimes.com/reuters/2018/02/07/business/07reuters-blockchain-investment-andreessen.html

[magpie_lover]

It's been more than a year since the last post on this topic about Dfinity.  

The network launch (& airdrop) has been delayed, but the rationale has been explained very well in this Medium post by Dominic Williams, Chief Scientist of Dfinity. The biggest takeaway for me is the fact that the team has grown to around 50+ members. If you dig deep into the profiles of these recruits, you've got to be impressed by each & every one of them - I mean, you've some of the top cryptographic researchers in the world, Programming Language experts & Engineering managers who are mostly Ex-Google & Ex-Facebook. A new research center has been established in Zurich, in addition to the primary office in Palo Alto.

Dfinity is also running a scholarship program for students.

[magpie_lover]

Interview with President and chief scientist Dominic Williams in which where he talks about Dfinity's future. With its "Internet Computer", Dfinity is thinking much beyond blockchain.

https://www.cnnmoney.ch/shows/blockchain/videos/dominic-williams-dfinity-blockchain-unicorn-double-zurich-team-2019

[sockpuppet1911]

Do you think we'll see it launch in Q4 or will it get pushed to 2020?