Dfinity

InternetPlatformSoftware
There won't be public ICO
Decentralized AI-based global computing network made of public nodes

Review for Dfinity ICO

Idea & Token

Dfinity is a global network that consists of public nodes and represents the idea of a decentralized computing cloud. This system will allow business applications installed on the platform to work reliably, use smart contracts and to be extremely fast and scalable. The apps won’t need complex and expensive components such as databases, backup and restoration systems or cloud-based services that will reduce the costs up to 90%. The security of the network will rely on the system of votes of so called neurons and on the AI-based mechanisms. Anyone can create a neuron (a node) by freezing tokens. The more tokens are frozen, the larger reward the user can get. One more feature is eliminating of attack of 51% users which is ensured by impossibility to track who votes for whom. The system permanently searches vulnerabilities and in case of a fraudulent attack there’s a possibility to roll the system back. This neuron-based system is the core element of the entire network and called Blockchain Nervous System (BNS). Two main goals of Dfinity are optimization of current intermediary services (Uber, eBay, etc.) and reducing business maintenance costs by process automatization.
Their utility token called DFINITY will be used as:
– Fuel for installing and running smart contract software.
– Security deposit that allows mining client software to join the network.
– Security deposit for creating neurons.
– Security deposit that allows private DFINITY cloud networks to connect to the public network.
The distribution is as follows: 52.93% – foundation Endowment, team and partners, 24.72% – seed fundraise contributors, 9.5% – early contributors, 6.85% – strategic fundraise contributors, 4.75% – presale fundraise contributors, 1.25% – community airdrop. Please pay special attention that there will be no public sale round.

Team

A top team that consists of 20+ specialists and keeps growing includes people from Google, PhDs form Yale and Stanford, professors, cryptographers, researchers, specialists in distributed systems and blockchain, and a number of software developers. The team is so solid that looking at it one may think they develop a serious scientific project, and not an ordinary ICO campaign. And in fact this is just the case – Dfinity is more than just another ICO. The project is led by Dominic Williams, crypto theoretician and entrepreneur, idea generator, previously ran a venture-backed MMO game using his own distributed systems that hosted millions of users.

Summary

Dfinity is one of the most large-scale and ambitious projects we’ve seen. As they say about themselves, Dfinity is an “exciting new extension of the Ethereum ecosystem that will make it much, much stronger”. It’s a network for DApps, including those that can be run on Ethereum, with such benefits as extreme performance, unlimited scalability, interoperability, etc. Considering the top team and funds they already raised, Dfinity is going to become one of the loudest blockchain-based projects. Their main challenge is in the existing competitors, so they have to be in a hurry to develop the system as soon as possible.

An extremely ambitious project that is going if not to become new Ethereum, then at least to improve it in a number of parameters.

Yellow flag: There won't be public ICO

Pre-sale is Active! There won’t be public ICO, instead there will be a huge community airdrop.

Average rates for the project

3.8 / 5
Rating
5
Team
4
Vision
3
Product
3
Hype
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3.8 / 5
Rating
5
Team
4
Vision
3
Product
3
Hype
-
-
-

GitHub activity

Dfinity ICO datesexport to calend


Whitelist
12.11.2018
12.11.2018
KYC
12.11.2018
12.11.2018
PreICO
12.11.2018
12.11.2018
PreSALE
12.11.2018
12.11.2018
ICO
12.11.2018
12.11.2018
12.11.2018
12.11.2018
12.11.2018
KYC
May. 30, 2018 — Jun. 8, 2018

Funding

Token
DFN
Hard cap
$ 90.000.000

About Dfinity

The Dfinity blockchain computer provides a secure, performant and flexible consensus mechanism. While first defined for a permissioned participation model, the consensus mechanism itself can be paired with any method of Sybil resistance (e.g. proof-of-work or proof-of-stake) to create an open participation model. Dfinity’s greatest strength is unfolded in the most challenging proof-of-stake case.
At its core, Dfinity contains a decentralized randomness beacon which acts as a verifiable random function (VRF) that produces a stream of outputs over time. The novel technique behind the beacon relies on the existence of a unique-deterministic, non-interactive, DKG-friendly threshold signatures scheme. The only known examples of such a scheme are pairing-based and derived from BLS.
The Dfinity blockchain is layered on top of the Dfinity beacon and uses the beacon as its source of randomness for leader selection and leader ranking. A “weight” is attributed to a chain based on the ranks of the leaders who propose the blocks in the chain, and that weight is used to select between competing chains. The Dfinity blockchain is further hardened by a notarization process which dramatically improves the time to finality and eliminates the nothing-at-stake and selfish mining attacks.
Dfinity ’s consensus algorithm is made to scale through continuous quorum selections driven by the random beacon. In practice, Dfinity
achieves block times of a few seconds and transaction finality after only two confirmations. The system gracefully handles temporary losses of network synchrony including network splits, while it is provably secure under synchrony.