The developers of the Dfinity block project announced in this environment the launch of a new token-based control system that will allow users to control an Internet computer.
Today's announcement is the last point in the Dfinity roadmap before the public launch of the main network, which should take place by the end of the year.
The development of Dfinity began in 2018. The project has attracted over $160 million in venture capital and intends to lay the foundations for a new decentralized Internet. The protocol was opened to third-party developers in June. The latter element is called Network Nervous System (NNS) and is "an algorithmic management system that includes independent data centers in the network.
"The output of NNS means the completion of the development of Internet computer functionality. This is a landmark moment in the history of the Internet. For the first time, Internet services will be managed in a completely independent, decentralized way," said DFINITY Foundation founder Dominic Williams.
The new system is based on ICP token, formerly DFN. ICP holders will be able to block their tokens in the NNS to create "neurons" that allow them to vote for new proposals.
ICP will also be used to ensure the performance of decentralized applications similar to gas in an Ethereum network. In Dfinity, the tokens will be burned to start new "cycles" of software operation. Such cycles will have a stable cost, which will allow them to be used as stablecoins in applications from decentralized finance (DeFi), the developers note.
Investors of Dfinity are Andreessen Horowitz and Polychain Capital, among others. The capitalization of Dfinity is currently estimated at $ 9.5 billion, which is expected to allow the project to enter the top 5 cryptocurrency market after the release.