Will Dfinity Be Able To End The Internet Monopoly?
Dfinity’s goal is to undo the increasing monopolization of internet services user, relationships, and data.
In this article, we’re talking about the internet computer. I was biased towards Dfinity before actually reading the white paper. After reading the white paper I’m like okay ‘This is legit but the thing about Dfinity is that not a lot of individuals or no individuals can be compost or nodes or stakers.
If you become a staker from what I read you pretty much need to be a data center, which pretty much means you need millions of dollars because you can’t just set a data center back in your garage or something. That’s just insane. So anyway we’ll talk more about that in this article.
Jumping into the Dfinity’s Whitepaper Information
I say always to read the white paper if you haven’t already well for Dfinity’s white paper don’t read it.
Because it’s just a bunch of proofs and mathematical theorems on how consensus mechanism works in infinity. And most of it is pretty much a big waste of time unless you are mathematically interested in what they’re doing. In addition, we probably don’t have the credentials to talk about the theorems or math proofs that they have in that white paper.
So Dfinity’s consensus mechanism can be paired with proof of work or proof of stake to create an open participation model. Dfinity contains a decentralized randomness beacon that acts as a verifiable random function a VRF that produces a stream of outputs over time. This VRF is what drives consensus. And the Dfinity blockchain is actually on top of this Dfinity beacon. Why is this VRF so important because it is the beacon that is used to select a leader and the leader in the node that proposes a block.
Apparently according to the white paper Dfinity achieves block times in only a few seconds and transaction finality only after two confirmations. So what they call Dfinity is a virtual blockchain computer. That is…