Amid the second Bitcoin bull market, it is time to revisit the crypto blockchains.
Dfinity has hype and large pockets. They have close to $167 million. I’m not sure how they’re worth $10 Billion. Moreover, this Internet Computer firm may be able to create decentralized blockchain apps. Dfinity is now worth $60.00 $IOU. Worth buying?
When Dfinity secured $102 million in 2018 from Andreessen Horowitz and Polychain Capital at a $2 billion valuation, it was considered a game-changer in the world of blockchain technology. On Dec. 18, 2020, Dfinity unveiled the mainnet of its “Internet Computer” after years of study and development.
So the crypto has the mainnet launch and the Bitcoin rise, which could benefit the organization. The culture is more Silicon Valley than native cryptocurrency. The vast bulk of blockchain’s promises has failed to materialize in the previous decade. Dfinity, on the other hand, has a consistent vision that it is attempting to advance.
A decentralized and non-proprietary network to power the next generation of mega-applications was Dfinity’s high objective at launch. It is called “Cloud 3.0”. Silicon Valley’s decentralization strategy uses big words.
In January, it showcased an open social network named LinkedUp, a sort of available version of LinkedIn. Its governance and token economy are revealed in September 2020. It, like Harmony One, is a blockchain tech powerhouse.
Prediction for Dfinity
It’s impossible to know if Dfinity will succeed since its Maninet launch. The Internet Computer will be the first blockchain computer with unlimited capacity. It uses Chain Key Technology, which divides smart contract calls into two types: update and query. These companies are great at creating new blockchain terms from engineers who may not have much credibility.
We call it the Internet Computer because it is a public blockchain network that can natively host hyper-scale open internet services and smart contracts for all of humanity’s software logic. Internet Computer Protocol (ICP) data centers worldwide develop it (ICP).
The serverless architecture of the Internet Computer eliminates the need for proprietary cloud services, according to Dfinity. In this situation, it’s too good to be true. Because of the architecture, they claim apps like CanCan can be in production of under 1,000 lines of code. For example, Facebook has almost 62 million lines of code. While I believe DeFi has a bright future, and I can see Binance and Coinbase being bought, many of these blockchain initiatives are Silicon Valley’s last-ditch attempts to innovate.
The intense volatility of Dfinity’s coin is a trader’s boon. Dfinity, sponsored by Andreessen Horowitz and Polychain Capital, wants to compete with Amazon Web Services. AWS blockchain? That’s half tempting even if you’re dubious.
Even dubious, Dfinity is a good buy, given its scalability. Furthermore, for Dfinity, the goal is to extend the functionality of the public internet utilizing a sophisticated, unique blockchain network that eliminates the need for outdated technologies like cloud services, databases, and firewalls. That’s a livable planet.
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