Dfinity blockchain development - outsourcing company Boosty Labs

Dfinity Blockchain Key Features

Third Generation Internet

The authors of the project aim to create a new kind of public decentralized cloud computing resource. It is the third generation Internet, in which the network functions as a single computer with new properties.

Control System

System depends on the decisions of the "neural" system – decentralized intelligence. DI allows you to protect users from attacks, restart broken systems, dynamically optimize network security and configuration, update the protocol, and mitigate the risks of platform abuse.

High Performance

The project is designed to explore ways to enable public decentralized networks to host a virtual machine with unlimited bandwidth. The concept is based on a new block computer, which is similar in its own way to Ethereum, but significantly improves performance with the prospect of unlimited capacity. The initial requirement of such a system is its connection to mining services with 1 million participants or more.

Single Ecosystem

While private LANs can connect to public services on the internet, individual cloud networks built using Ethereum technology are isolated. Their smart contracts are unable to interact with other public networks. The platform allows programmatic methods called at the highest level in private systems to contact the public Dfinity network. The system then guarantees the execution of both private and public methods, or none of them.

Dfinity Blockchain Development Advantages

Total Tokenization

Blockchain allows you to tokenize everything. All the web experience can be transferred to smart contracts that are served by browser users. All modern mass-market products can work on a chain.

Complete Decentralization

The absence of a governing body, where all the data and forces of the project are concentrated, is the concept of the blockchain itself. The project allows you to get rid of the need to use cloud hosting and database services, because. all information will be sent directly to the client's browser. The absence of an intermediate infrastructure is another way of decentralization.

Scalability

Each of the systems or services launched through the Internet Computer can share its capabilities and data, provided that this action is approved by the owner and creator. Thanks to this, it is possible to combine several products into the truly programmable web.

New Paradigm

IC means a complete change in the Internet, when the updated blockchain allows you to get rid of complex architecture: VPN, nicknames, firewall and much more that is no longer required.

Dfinity is a Swiss non-commercial blockchain project that first announced itself a few years ago, in 2018.

Before the main launch, the team spent about five years on preparation and development. The founder of Dfinity, Dominic Williams, has high hopes for his offspring and expects to take away the laurels from the current leading corporations – Google and Facebook.

The team plans to launch a blockchain with unlimited bandwidth and create something like the next generation of the Internet. The functionality that developers want to put into the architecture is impressive: in the future, it will be possible to create non-fungible tokens, applications, websites and entire commercial systems with its help.

In short, Dfinity was created to develop an open and public blockchain project that operates through a decentralized cloud, where the necessary software is hosted.

Dfinity is a non-profit foundation that spearheaded the launch of the secure and efficient Internet Computer blockchain. It is the money from this fund that allows the project to keep developing. Therefore, Dfinity is the founding company, and the Internet Computer is their project.

From 2021, the project is considered to be fully decentralized, truly becoming a global computer. In 2021, the source code was made public, and the blockchain management system was launched.

Internet Computer (ICP) is a platform utility token that allows you to control the main mechanisms of the network. Any owner of ICP coins can take part in determining the development vector. The token is used to support data centers and sell them to network operators. Previously, it was called DFN, but later, it was decided to rebrand the coin. It is used in the following ways:

Creation of neurons – tokens are blocked, which is necessary for their use in network management through voting. Each neuron receives a certain reward.

Producing cycles for computing – the original store of value can be converted into cycles used to power computing, after which the tokens are burned.

Incentives and rewards – every network needs to keep the blockchain running. Rewards are received by voters and node providers.

The main value for developers is the opportunity to use tokens for creation of cycles, because tokens are used to pay for calculations. Each ICP holder can exchange coins in order to replenish cycles.

The first popular earning opportunity is staking. In its case, users are rewarded for providing their assets to keep the network running. ICP mining does not exist, you can only earn by staking. You can also earn money through standard trading.

The basic structure of the project is the network nervous system. This is an algorithmic management system that allows users to fully control the network and tokens, create decentralized finance projects, dApps, useful services, corporate systems, etc. It is a tool implementing the idea of a decentralized and safe Internet.