One of the most popular and long-term cryptocurrency projects is now ready to see the light of day, amidst signs that it could add deceptive distortions to digital products as trading begins on Monday.
Dfinity has been set up to offer the so-called “internet computer”, a group of technologies that aim to help a new generation of applications and applications developed in the blockchain world.
Even before the start of this week, the sale of future digital tokens that will be used to lubricate digital interior wheels is said to be a place among a few of the most expensive brands. Unstable and low-income sales sometimes put their value above $ 100bn.
“A lot of people are looking for the next thing, the best – it’s the newest, brightest brand on the market,” said Wilson Withiam, a researcher at Messari, a crypto research company. “It doesn’t seem fair to start a new network. On the other hand, it is a popular profession. ”
However, despite his progressive business, he and other crypto experts warned that Dfinity could struggle to differentiate a market filled with people who use “smart connections” and share networks found in the blockchain world.
Work on Dfinity began in 2017, when the first cryptocurrency season began. It received more than $ 120m from a large group of investment firms and hedge funds, led by Andreessen Horowitz and Polychain Capital. Since then, the software program has been rewritten once its complexity increases and changes its objectives.
Dfinity has developed a fast, low-cost approach to Ethereum, a blockchain that introduced “smart contracts”, or a software program that only works once certain features are met – considered an essential tool for building next-generation software.
In recent years, it has also become an alternative to Amazon Web Services and other cloud companies, creating software that can replace their networks and information groups run by individual users.
“It doesn’t look like they’re making anything new,” said David Nage, chief executive of Arca Funds, which sells digital goods. “The market has already grown and created real jobs that have been in use these days.”
This includes Ethereum rivals such as Polkadot, Solana and Flow, who have secured a place in popular markets such as sports and a group of digital products called NFTs, Nage said. There have been advantages to new technologies designed to promote shared distribution services, such as Filecoin and Storj storage services.
Dfinity’s “computer systems” feature complete technologies that also mimic what other projects are doing. Dominic Williams, the founder of the project, developed it as a platform known as Web 3.0 – support groups that can challenge the power of companies such as Facebook and Google.
But he also made sure that this helped to improve other blockchain features, for example allowing other participants to move their electronic space to Amazon and move into the Dfinity network.
Williams likened the proliferation of cryptocurrensets to the dotcom bubble in the late 1990s, when mass production was stabilized, but few survivors became online giants.
“It’s just speculation, it’s very crazy,” he said. “We think of five, ten, twenty major events.”