Dfinity logo

Dfinity

ICO details

Token nameDfinity Token
TickerDFN
Token total supply0
BlockchainEthereum
Accepted currencieseth
StatusTo Be Announced
Funding GoalBTC 0
Token nameDfinity Token
KYC/AMLRequired
Restricted CountriesUnited States
Telegram Members Count58,708

About

Important: DFINITY is replacing the public ICO with a be a large community airdrop of 1.25% of the tokens + additional pre-sale round. Total valuation ... Read more

Visit Website Read the whitepaper

Our Review of Dfinity

Rating
74

Dfinity is a strong project, with an impressive team, that is well-funded and backed by both business and academic partners. Despite a lack of information regarding the token and sale, this is clearly a project that will see ongoing investment and has the potential to be adopted on a wide scale. However, the competition in this sector is extremely tough and Dfinity’s on-chain governance - the “Blockchain Nervous System” - may not be desirable and could lead to serious centralisation problems, especially since 25% of Dfinity tokens have already been given away.

  • Concept

    Concept Rating
    23 /30

    Dfinity seeks to create a blockchain-based, intelligent, decentralised cloud computing resource. It is fully compatible with the Ethereum network - the team considers the project to be a sister network to Ethereum - and any DApp running on Ethereum will be able to run on Dfinity.
    The project utilizes a decentralised intelligence ("Blockchain Nervous System") for governance, and the core benefits will be improved performance, security and scalability compared to existing systems. While the project claims it is 50x faster than Ethereum, it should be noted that Ethereum will need to scale by 10,000x to host even mid-sized DApps, in this sense, 50x is a drop in the ocean; we would like to see a roadmap, similar to Ethereum’s (Casper, POS, Sharding, Plasma) on how the project plans to reach the one billion tx/s required to operate a blockchain at global scale.
    Dfinity is also expected to have higher throughput than Ethereum due to multiple technical advances such as, “Threshold Relay Chain”, as well as replacing the “Code is Law” paradigm with “AI is Law”, where everything is subject to an intermediary-free, algorithmic, governance system which combines crowd wisdom and traditional AI. It feels disingenuous to refer to Ethereum’s governance as “Code is Law” as Ethereum uses something closer to what Vitalik Buterin calls informal or “multifactorial consensus” where the ultimate decision depends on the collective result of many different factors such as the original roadmap, consensus among miners, coin holders, user votes and established norms, which we believe is a much more robust system.
    This is a more mature project than is typically seen at ICO stage, with three years of ongoing development and a beta scheduled for release in Q2 of 2018 (much of this work is publicly available). As such, the project is gaining significant traction, and is now backed by Polychain Capital and Andreessen Horowitz. Dfinity have raised $100 million in funding to date, but it is not yet clear what the project’s revenue model is, or what the roadmap is beyond the beta release.

  • Team

    Team Rating
    22 /25

    This is a large, extremely impressive, multi-disciplinary team, with 14 people in R&D, six in operations, and eight people at the Decentralised and Distributed Systems (DEDIS) Group at École Polytechnique Fédérale de Lausanne (EPFL), which has two members working full-time at any given time.
    The project's President/Chief Scientist is Dominic Williams, who has decades of experience in entrepreneurship and development. The Director of Engineering, Timo Hanke, has strong experience in entrepreneurship as well as engineering and mathematics, including a PhD, he also created asicBoost. The team has substantial technical talent with 21 developers and researchers, many of whom have advanced degrees from top schools such as MIT, Stanford, Cornell, EPFL and Yale, as well as work experience at prestigious companies such as Alibaba, Google, Intel, eBay and Facebook, they have also made significant contributions to the field such as co-designing Google’s web-assembly virtual machine.
    No advisors are listed as Dfinity doesn’t believe advisors typically contribute more than social proof to a project. However, Dfinity have impressive investors in the form of Andreesen Horowitz and Polychain Capital - the latter is arguably Crypto’s most prestigious hedge fund.

  • Competition

    Competition Rating
    13 /20

    There are many projects in the decentralised cloud computing space (Golem, Conduit, DADI, Iexec) as well as those that offer higher performance blockchains or their own "nervous system" (NEO, EOS, Cardano, Tezos). Dfinity is arguably also competing with alternative architectures such as Tangle and Hashgraph, and despite the project’s notion of being a sister network, Dfinity is also competing with Ethereum.
    It seems strong teams, backed by large funds, are the norm in the space and Dfinity will be entering an extremely crowded market with multiple high profile projects at various stages of release. Even with the strength of the Dfinity team, this is an enormous undertaking.

  • Economics

    Economics Rating
    8 /15

    The Dfinity token is a utility token that will be used as gas for executing smart contracts on the network, as well as stakes for mining clients and voting.
    The team raised $4 million in a seed round in February 2017, which has since appreciated to $40 million, as well as $21 million in a strategic round in July 2017. Polychain Capital have also created a $40 million fund for supporting Dfinity ecosystem projects, bringing the project’s funding total to just over $100 million.
    Information about the public sale has not yet been released, nor have details regarding token distribution but ~25% of tokens have already been given away, and are likely owned by only a few people - this will comprise a substantial amount of voting capital for the “Blockchain Nervous System”.

  • Presence

    Presence Rating
    8 /10

    Dfinity have an informative website that provides all the relevant information via text and demo videos. There are both technical and non-technical whitepapers available, along with various informational decks and papers.

    The Telegram channel has over 25,000 members and is well-moderated. Twitter has 20,000 followers, and Reddit has 4,300 readers, however it worth remembering that the project is nearly three years old and has had time to build its community. Regardless, the project is extremely professional with a well-informed, intelligent and responsive PR person responding to questions on their channels. Dfinity also have a medium blog that appears to be updated in batches, with many well-written and informative posts. There are, however, some signs that Dfinity is deleting threads/comments on Reddit that are critical of the project.

Team

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    Timo Hanke
    Head of Engineering
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    Ben Lynn
    Senior Staff Scientist & Engineer
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    Andreas Rossberg
    Senior Staff Scientist & Engineer
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    Mahnush Movahedi
    Senior Staff Scientist & Engineer
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    Martin Becze
    Virtual Machine Research
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    Paul Liu
    Staff Engineer
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    Shigeo Mitsunari
    Staff Cryptographer
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    Dominic Williams
    President & Chief Scientist
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    Norton Wang
    Software Engineer
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    Zimin Luo
    Software Engineer
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    Maciej Wos
    Software Engineer
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    Robert Lauko
    Research Associate
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    Steve Omohundro
    Senior Researcher - AI/Governance

Video - "DFINITY - Explainer Video"

Real Time Updates for Dfinity

Roadmap

  1. Fall 2016
    A not for profit Swiss foundation is created
  2. Feb 2017
    Distributed "Seed" fundraise using Ethereum technology
  3. 2017-2018
    Strategic fundraising round led by Anderson Horowitz and Polychain
  4. Feb 2018
    WITH THE DFINITY-Ecosysetm Venture Fund, we have now raised $101 in funding
  5. 2018
    Presale round involves contributors who can pass stringent KYC and AML, with some possible geographical restrictions
  6. 2018
    The second round, may or may not happen, and will be termed the "ICO"

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Name Dfinity IP Exchange OneLedger Open Platform
Token Name Dfinity Token IPSC TOken One ledger Token Open Tokens
ICO Start Date - Feb 28, 2018 - -
ICO End Date - Mar 5, 2018 - -
Funding Goal BTC 0 - - -
Funding Cap - - $ 1,500,000 $ 30,000,000
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