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Dfinity has launched its Internet Computer network to create an open internet system and drive a diversion from Big Tech and closed infrastructure.
Blockchain tech startup Dfinity has launched an important part of its network, called the ‘Infinity Computer.’ In a publication written by President and Chief Scientist, Dominic Williams, the Internet Computer is the world’s first blockchain capable of web speed and capacity increase without bound.
Describing the Dfinity mainnet further, Williams states that the Internet Computer can “host any volume of smart contract computations and store any quantity of data”. The publication also informs that the mainnet is hosted by independent node machines within multiple and independent data centers. These data centers operate under the Network Nervous System (NNS). The intricacies and network capacity of the NNS, in turn, ensures that the Internet Computer mainnet is “autonomous and adaptive.”
William also discusses what he describes as a 20-year roadmap. According to him, “open” platforms will be more commonplace, suggesting that the Internet Computer would be in the best position for the takeover. He wrote:
“In 20 years’ time, the Open Internet will finally be significantly bigger than Big Tech’s closed proprietary ecosystem, which will not be in terminal decline, but will take forever to disappear for similar reasons COBOL code is still running.”
The Internet Computer and Big Tech
The Dfinity president believes that majority of the world’s services, infrastructure, and systems, will run on the Internet Computer blockchain. The effect, according to him, would be impressive transformations and a complete overhaul of the current status quo. Firstly, it would provide a more dynamic and innovative way to run the internet ecosystem. Secondly, William also believes the spread of an open ecosystem would drive positive economic growth all over the globe.
The publication also describes a 5 and 10-year forecast which ends with the relegation of Big Tech. Williams states that everyone with some interest in tech would know about the Internet Computer in 5 years. Apart from just hearing about it, he believes that interested persons will understand the network’s purpose and nature. This should, in turn, bring about investment opportunities.
Dfinity
Backed by entities like Polychain Capital and Andreessen Horowitz, Dfinity has raised $195 million for its blockchain network. The company has an ambitious goal for IT businesses to reduce their costs by a whopping 90%. Dfinity believes this will work because a transition to an open and adaptive system will reduce the amount of human capital necessary. Also, businesses will no longer require the services of many intermediaries.
Based in Switzerland, Dfinity hopes its network will one day be large enough to displace large cloud services such as Microsoft Azure and Amazon Web Services. Williams claimed, back in 2018, that the network is 600 times faster than Ethereum.
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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
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