Dfinity Raises $102 Million Toward ‘World Computer’ Project
Dfinity has recently announced that their ambitious blockchain project has raised $102 million from cryptocurrency fund Polychain Capital, venture capitalist firm Andreessen Horowitz, and other investors.
This funding comes after Dfinity raised $61 million in March, which aided the startup in building the initial vision of a blockchain-based Cloud 3.0. This project, which Dfinity calls an upcoming “world computer,” is a reinvention of computing through replacing platforms such as Salesforce or Amazon Web Services with an affordable, decentralized alternative.
In an interview with Forbes, Chris Dixon of Andreessen Horowitz compliments the technical prowess of Dfinity’s team by outlining a number of breakthroughs they reached in the security and scaling of their blockchain.
The world computer design is set to create a system composed of millions of nodes that work in unison to serve as a cheap and public computing resource. Through this service, users will no longer find themselves relying solely on large firms to provide convenient software or storage.
With Dfinity’s blockchain, companies may begin to downscale hardware by building open source programs that could easily replace physical servers and middleware.
Dfinity founder Dominic Williams anticipates that the initial launch will come paired with a private version of its network later this year to ensure developers test out the software services. A public launch is expected sometime next year, which many believe will rival Ethereum’s network as it will offer a system of smart contracts and efficient services that function on a larger scale.
Last May, Dfinity airdropped $35 million worth of Dfinity digital tokens to early investors to kickstart adoption. Investors receive these tokens in exchange for capital rather than traditional private shares, which represent a form of equity but remain coded in a manner that does not allow firms to divest them for another three years.
Dfinity has not disclosed its valuation following its latest funding round.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.