Dfinity: The Ambition to Build a Decentralization Internet Computer

Dfinity is a project aimed at creating a Decentralization internet computer, allowing developers to build and run various applications on a distributed network platform without relying on traditional cloud services, databases, or payment interfaces. The vision of the project is to reshape the business model and governance structure of the internet.

The Internet Computer is an extension of the existing internet, providing the computing power required to run application software through a global network of computers. It relies on the Internet Computer Protocol to define software components, enabling the global network of computers to combine resources to read, copy, modify, and return application states.

The key infrastructure of the Internet Computer includes:

• A protocol for securely running general computing directly on the internet
• A network that provides computing power through independently operated data centers.
• A globally accessible and scalable platform for running software applications

Dfinity's core technology is based on canisters and chainkey. Canisters are containers that support WebAssembly contracts and enable fully decentralized applications. Different canisters can transfer and interact with each other, reflecting ICP's anti-gas technology. Chainkey technology realizes the custody of cross-chain assets such as ckBTC and ckETH while enhancing privacy.

Dfinity can build various applications, including but not limited to DeFi, NFT, gaming, social media, e-commerce, and search engines. Its advantages lie in seamless connectivity, strong performance scalability, and the ability to provide smart contract support for the Bitcoin network.

The Dfinity team is developed by one of the largest teams in the cryptocurrency field, including world-leading cryptographers, mathematicians, and senior engineers. Founder and Chief Scientist Dominic Williams is an experienced entrepreneur and cryptocurrency theorist.

In terms of the economic model, Dfinity has received nearly $101 million in funding support. In May 2020, the Dfinity Foundation announced a $200 million fund to attract developers to build on the platform. Major investors include well-known venture capital firms such as Andreessen Horowitz and Polychain Capital.

The staking reward inflation rate for ICP tokens has decreased from the initial 10% to the current 7.21%. Users participating in staking can earn voting rewards and obtain more voting power through neuron decomposition or compound interest. According to unlocking data, approximately 38.94 million ICP will be unlocked in the next year, accounting for about 8.6% of the total circulation.

In terms of community governance, Dfinity has the NNS( Neural Network System) and the SNS( Community Neural Network System), allowing community members to participate in network decision-making and create and manage sub-networks.

The main projects in the Dfinity ecosystem include:

1. Mora: A writing platform based on canisters and IPFS, achieving user data sovereignty.

2. Ghost: The first meme token in the ICP ecosystem, launched through SNS DAO, with a maximum increase of over 100 times.

3. NnsDAO: The first DAO project of the ICP ecosystem, developed multiple ecological projects such as an NFT platform and GameFi products.

4. ICscriptions: The first inscription platform in the ICP ecosystem, providing inscription marketplace, minting, and trading functions.

5. ICPswap: A DEX platform based on ICP, providing full-stack financial, market, and DAO services.

Despite being technically acclaimed, Dfinity's token ICP has experienced significant volatility since its launch, dropping from an initial price of nearly $2000 to a low of less than $3. However, with the recent market rebound, the price of ICP has risen again, with a cumulative increase of over 4 times, attracting renewed attention from investors.