Thread by @CroissantEth

In todays thread, I am going to be sharing a highly anticipated project that is slated for launch this year.

It has been in development since 2016, boasts a massive 180+ member dev team, and is backed by some of the top names in the industry.

You don't want to miss this one.👇

Introducing @dfinity: Created by the Dfinity foundation, a non-profit scientific research organization based in Zurich, Switzerland, The Foundation’s mission is to build, promote, and maintain the Internet Computer.

The Internet Computer promises to be the first blockchain computer running at web speed with unbounded capacity. It achieves this speed through something called Chain Key Technology, which splits calls to smart contracts into two types: update calls and query calls.

Update calls are finalized in 1-2 seconds based on the time it takes for blocks to be produced. However query calls can be done in milliseconds, as any changes in state are discarded after execution

This allows devs to create experiences that compete with existing web-based apps

As stated by Dominic Williams, co-founder and chief scientist at Dfinity, the protocol “extends the functionality of the public internet using an advanced, novel blockchain network that eliminates the need for legacy technologies such as cloud services, databases, and firewalls."

It seeks to address serious long-standing problems in IT, including system security, & to provide a means to reverse the ever increasing monopolization of internet services, user relationships and data, and restore the Internet to its permissionless, innovative and creative roots

The Internet Computer is based on a blockchain computer protocol called the Internet Computer Protocol (ICP). The ICP weaves together compute capacity of special node machines operated by independent data centers around the world.

The protocol harnesses the power of individual nodes in the network to create an unstoppable seamless universe where internet native software is hosted and run with the same security guarantees as smart contracts.

These internet services can provide guarantees to users about how their data is processed, but even more importantly, can provide guarantees about the availability of the APIs they provide to other services that wish to incorporate the data or functionality they share.

Just recently, Dfinity has rolled out Nervous Network System, a governance blockchain for Dfinity’s Internet Computer Protocol. NNS is the autonomous software that governs the Internet Computer and manages everything from economics to network structure.

This is where the utility token of the protocol, $ICP comes into play. $ICP is used for transaction fees & governance.

NNS puts proposals up to vote, such as onboarding new node machines, which are then voted on by holders of $ICP tokens who have locked up their tokens.

The ICP token is the primary mechanism allowing the internet community to participate in the governance of the Internet Computer network. ICP can also be dissolved and converted into cycles, which are used to run apps & power computations on the Internet Computer via canisters.

Now that we have gone over the tech and infastructure in place at @dfinity, lets go over the team as well as their backers. As stated earlier, the project boasts a massive dev team consisting of over 180 members with experience from Microsoft, Amazon, and even the federal reserve

The accomplished dev team behind @dfinity have created more than 200 patents, and have been cited over 100,000 times in notable academic papers.

The project has raised significant interest from notable investors in the space, amassing an astonishing $160m in funding from seed rounds led by Andreessen Horowitz and Pantera Capital.
reuters.com/article/us-blo…
techcrunch.com/2018/08/29/dfi…

I am running out of space and theres far too much to cover all in one twitter thread, so if you wanna learn more about the @dfinity project, here are some helpful resources:
dfinity.org
medium.com/dfinity/a-tech…
dfinity.org/pdf-viewer/pdf…

I am extremely bullish on @dfinity for obvious reasons, and am confident it will be one of the most prominent launches in 2021. I appreciate you all taking the time to read this, and I hope you all enjoyed.🍞