Dfinity, a blockhain-based distributed computing platform

Finity has raised $102 million in a financing round co-led by Andreessen Horowitz and Polychain Capital. Think of it as a step - change in the world of blockchain technology: dfinity is starting to build a so-called "Internet of Computer," a decentralized, non-proprietary network in which mega applications of the next generation can be operated.

A limited release was released in Davos this week that will take the start-up to the next level of development, with a full commercial release expected later this year. Dfinity is building a network of smart contracts, a decentralized, non-proprietary network, in the hope of decentralizing the Internet.

The services the company is building include the ability to integrate data and cloud services into independent systems. The company reportedly hopes to capture a large chunk of the market for smart contracts and other services such as cloud storage and data storage.

The Block has previously reported that Dfinity, like Polkadot, is a next-generation protocol that circulates on the Ethereum blockchain, the world's most popular digital currency. VCs support a non-profit foundation to develop the DFINITY protocol and reward the network and its deployment with crypto-tokens to power it. The agreement provides funding for token startups that will spend tokens on themselves when they launch in the future.

Blockchain project Dfinity plans to raise $61 million today from Polychain Capital and Andreessen Horowitz. The investment is part of the New York fund set up in 2016 by hedge fund manager Fred Wilson to invest in blockchain startups. Sequoia Capital was an early backer of Apple and Google, and Polychains itself is backed by a number of blue-chip venture capital firms, including companies like Kleiner Perkins Caufield & Byers and Sequosha, whose investments have been a major source of funding for startups like Ethereum and Ethereum Classic, as well as a new venture capital fund of the same name, a San Francisco hedge fund that will invest in companies like Twitter and Etsy, according to the website.

The company wants to create a new decentralized cloud, or Cloud 3.0, that will reduce the cost of running cloud-based business applications by 90 percent and turn the current model of cloud services, led by Amazon and Google, upside down.

A decentralized Cloud 3.0 consists of a network of computers connected to the Internet, and DFINITY's next-generation technology will enable applications and businesses to build on it. Williams said the new type of blockchain, which is developing rapidly, suggests it is a project worth watching. The D FINITY project stems from a project launched in 2014 to create a fast-paced cryptocurrency. It used the same cryptographic blockchain principles that underpinned Bitcoin, the world's leading digital currency, and other cryptocurrencies.

DFINITY strives to enable next-generation cloud computing services through distributed virtual computers. First, it can function as a cloud that can host traditional business systems, and it will offer the same level of security as companies hosting in Amazon's Google Cloud or Microsoft Azure.

DFINITY is also designed for what it sees as the next generation of financial services such as credit cards, loans and insurance. The project's ambitions extend to the provision of loans that offer collateral indirectly backed by cryptocurrencies.

At the moment, the main problem underlying Bitcoin is that transaction times have increased significantly. But with Dfinity, investors could easily gain access to a much faster and more secure payment system than ever before. This is one of the main reasons why many cryptocurrency developers actually strive to create a lighting network that would help them increase the transaction speed of cryptocurrencies.

According to the company's chief scientist Dominic Williams, the technology behind the platform is quite revolutionary. Dominic Williams is co-founder and chief executive of Open Tech Ventures, a non-profit tech organization that aims to help tech entrepreneurs compete with big tech by reinventing the underlying software of the Internet.

DFINITY is building what Williams calls the "Internet of Computers," a blockchain cloud computing platform aimed at making the Internet of Things safer, faster, and more reliable than ever. DFINITY, which is valued at about $2 billion according to Forbes, says it has raised nearly $200 million from investors, including Andreessen Horowitz. CNBC reported, citing sources familiar with the company's finances and business model, that the funds came from hedge funds, venture capital firms and private equity firms. Another blockchain start-up trying to develop a decentralized cloud computing network raised $102 million in funding from a group of venture capitalists and hedge fund managers in the US and Europe.

DFINITY plans to use the funds to hire staff and help its developers develop more applications and fund other efforts. It seems time to catch up with Dominic, as the team he has on board is recruiting yet another high-profile recruit for the project.

A16z Crypto has made a significant investment in the DFINITY network. I am very excited to see an organisation of this calibre as the administrator of an open, authorisation-free platform for decentralised calculation. We imagine that we need to build the organization around a project that has an operational basis to cover, strike a balance between innovation and implementation, and determine the right direction for long-term incentives.

Ethereum, Cloud, PaaS