Dfinity

Dfinity is a blockchain-based cloud computing company. Its aim is to develop a decentralized "internet computer that will become the cloud 3.0."[1] It is registered as a non-profit foundation in Zurich, Switzerland, and operate research centers in Palo Alto, California, San Francisco, California, and in Zurich, Switzerland.[2]

Dfinity
MottoThe Internet Computer
TypeNonprofit foundation
HeadquartersZurich, Switzerland
Location
Region served
Global
President
Dominic Williams
Websitedfinity.org

History

Dfinity raised $61 million from Andreesen Horowitz and Polychain Capital in a February 2018 funding round.[3] At the time, Dfinity said it wanted to create an "internet computer" to cut the costs of running cloud-based business applications.[4] A further $102 million funding round in August 2018 brought the project's total funding to $195 million.[5]

In May 2018, Dfinity announced plans to distribute around $35 million worth of Dfinity tokens in an airdrop. It was part of the company's plan to create a "Cloud 3.0." Because of regulatory concerns, none of the tokens went to US residents.[6]

Project

Dfinity aims to reduce the costs of cloud services by creating a decentralized "internet computer"[7][8] which may launch in 2020.[9]

Dfinity claims transactions on its network are finalized in 3–5 seconds, compared to 1 hour for Bitcoin and 10 minutes for Ethereum.[1][5]

References
  1. Mody, Seema. "Dfinity raises $61 million for platform that rivals ethereum". CNBC. Retrieved 3 July 2018.
  2. Wood, Charlie. "The scientist who's built a $2 billion nonprofit to end big tech's monopoly says DeepMind's sale to Google was 'an outrage'". Business Insider. Retrieved 2019-12-02.
  3. Williams-Grut, Oscar (February 7, 2018). "Andreessen Horowitz is backing a crypto-powered 'internet computer' that could be the future of cloud computing". Business Insider. Retrieved 3 July 2018.
  4. Chavez-Dreyfuss, Gertrude. "Blockchain project raises $61 million from Andreessen Horowitz,..." U.S. Retrieved 2018-09-12.
  5. Butcher, Mike; Lunden, Ingrid (2018-08-29). "DFINITY raises $102M from a16z and Polychain for a decentralised 'Internet Computer' to rival AWS". TechCrunch. Retrieved 2018-09-04.
  6. "Dfinity Announces $35M 'Air Drop' for Blockchain-Based Cloud". Fortune. Retrieved 2018-09-12.
  7. Marshall, Mo (February 7, 2018). "Dfinity raises $61 million for blockchain-based cloud". Venture Beat. Retrieved 3 July 2018.
  8. "Move over AWS, Azure, Google: DFINITY wants your lunch -". Enterprise Times. 2017-08-22. Retrieved 2018-09-12.
  9. Kauflin, Jeff (2018-08-29). "Crypto Platform Dfinity Raises $102 Million To Take On Amazon And Google". Forbes. Retrieved 2018-09-30.
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