We’ve been eyeing one of the few real interesting stories to come out of the blockchain world, ever since in August last year DWE raised $ 102M from Andreessen Horowitz and Polychain Capital for a decentralized ‘Internet computer’. It later revealed more last January, and began opening to developers thereafter.
But today it reveals that it is governance system and token economics. This would mean that the market knows for the first time how it will allow mathematical calculations, based on token supply and futures price.
The effect is that the company is now valued with a value of $ 9.5bn, and thus would make it a top five cryptocurrency. The final valuation was $ 2bn based on a $ 105mn round led by Andreessen and Polychain in August 2018.
Today it launches the “Network Nervous System (NNS)”, an open algorithmic governance system that controls Dfinitiy’s “Internet computer” and serves as its brain.
Dubbed the sodium network, this reveals novel algorithmic governance and ‘decentralized finance’ (DFI) and token economics needed to build DAP, open Internet services, and pan-industry enterprise systems. Sodium is the final milestone before the public launch of the Internet computer later this year, when it will be rolled out as part of the public Internet.
Dominic Williams founder and chief scientist Dominic Williams commented in a statement: “NNS now means internet computer facilities. It represents an important moment in the history of the Internet. For the first time, Internet services will be operated in a completely independent, decentralized manner. It is a technical solution to systemic problems Big Tech has built with its monopoly on the Internet, a public utility that should be fully open – bringing back the concept of programmable web. NNS was a catalyst for the open Internet in the 1990s, and ensures that the future of the Internet is open and free. “
DeFinity’s ‘Internet computer’ is effectively a ‘blockchain computer’ powered by a network of independent data centers, which allows software to run anywhere on the Internet rather than Amazon, Google. And microsoft – Unplanned server farms. Dfinity today – as an alternative to the $ 3.9-trillion-dollar IT stack in operation – is pitching it.
Dfinity is supported by Andreessen Horowitz (Via its crypto fund a16z crypto), Polychain Capital, SV Angel, Aspect Ventures, Village Global, Multcoin Capital, Scalar Capital, and Amino Capital, KR1, as well as other members of Definity.