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The meaning of «dfinity»

Dfinity is a blockchain-based cloud computing company. Its aim is to develop a decentralized "internet computer that will become the cloud 3.0."[1] It is registered as a non-profit foundation in Zürich, Switzerland, and operates research centers there, and in Palo Alto and San Francisco, California.[2]

Dfinity raised $61 million from Andreesen Horowitz and Polychain Capital in a February 2018 funding round.[3] At the time, Dfinity said it wanted to create an "internet computer" to cut the costs of running cloud-based business applications.[4] A further $102 million funding round in August 2018 brought the project's total funding to $195 million.[5]

In May 2018, Dfinity announced plans to distribute around $35 million worth of Dfinity tokens in an airdrop. It was part of the company's plan to create a "Cloud 3.0." Because of regulatory concerns, none of the tokens went to US residents.[6]

Dfinity aims to reduce the costs of cloud services by creating a decentralized "internet computer"[7][8] which may launch in 2020.[9]

Dfinity claims transactions on its network are finalized in 3–5 seconds, compared to 1 hour for Bitcoin and 10 minutes for Ethereum.[1][5]

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