We are familiar with Dominic Williams, the founder of DFINITY.
But how did he achieve what we call today the Internet Computer Protocol (ICP)?
“Software is eating the world.” – Andreessen Horowitz
A Decentralised Infinity
“Dfinity” is a constructed word combining “decentralised” and “infinity,” coined in early 2015 to describe a groundbreaking blockchain initiative. Its creator, already experienced in advancing blockchain technology, recognised the limitations of traditional networks that could only host minimal computing and data.
Modern society relies on over 50 million powerful servers to manage data, with annual shipments exceeding 10 million. Despite this, blockchain offers unique advantages like inherent security, prompting the need to reimagine blockchains as next-generation computing platforms. In 2015, however, Dominic was a lone heretic, and was largely alone in believing that the creation of a true World Computer blockchain was technically feasible, let alone that it might be capable of successfully playing that role in competition with centralized computing infrastructure. Since Dominic strongly believed otherwise, based on his accumulated technical experiences and work on crypto theory, he decided to dedicate himself to blockchain research that might realize the concept, originally, he hoped, in the form a more advanced Ethereum 2.0.
Martin Koeppelmann, Panel (from Right to Left): Dominic Williams, Vitalik Buterin, Vlad Zamfir, Jae Kwon, Recorded at the Silicon Valley Ethereum Meetup – October 22nd, 201
He envisioned a purpose-built third-generation blockchain with innovative smart contracts capable of processing HTTP requests, enabling direct web experiences. These smart contracts would automatically pay for their computation, eliminating the need for user wallets during interactions. The ultimate aim of this reimagined blockchain was to extend the internet’s role, transforming it into a public backend computer platform powered by decentralized, cryptographic networks. This evolution of cyberspace would act as a decentralized public cloud, offering features like intrinsic security and autonomous operation. By operating without reliance on traditional IT systems, these blockchain-based services could empower communities through Decentralized Autonomous Organizations (DAOs) and provide an unstoppable, secure foundation for online systems. The Dfinity project was driven by the recognition that computation underpins modern society, making the reinvention of backend computing on blockchain an endeavour of profound impact. The vision extended to a blockchain singularity, where decentralized platforms would become the default infrastructure for building online systems and services, ushering in a new era of technological innovation. In 2015, Dominic shifted to full-time work in blockchain technology, leveraging his extensive experience and deep understanding of computer science. He realized that smart contracts represent a new type of software, inspiring him to expand their potential beyond early limitations, thus making them the preferred backend for various applications. Drawing from Andreessen Horowitz’s motto, “software is eating the world,” he coined his own: “Smart contracts will eat traditional backend software.” This belief is rooted in the distinctive advantages of smart contracts, which are accessible even to non-technical users. Moreover, smart contracts promote transparency by removing intermediaries. Future services—financial platforms, social networks, metaverses, and decentralized economies—will function as community-governed “open Internet services.”
The DFINITY Foundation and Initial Developments
In October 2016, the DFINITY Foundation was established in Zug, Switzerland, with initial funding from two Swiss co-founders. The project expanded with team members like Timo Hanke, a prominent mathematician and cryptographer. They co-authored a white paper on a new blockchain consensus scheme, incorporating “Threshold Relay” and “Probabilistic Slot Consensus.” They also conceptualised the “Blockchain Nervous System” (BNS), a DAO for autonomous governance.
To support the Internet Computer’s vision, a fundraising framework was launched, beginning with a “Seed” round in February 2017. This marked a new chapter for the DFINITY Foundation, aiming to build a truly autonomous world computer. Today, the Internet Computer is the only blockchain functioning entirely under automated DAO governance, realising the vision of a decentralized and autonomous future.
By the end of 2017, DFINITY Foundation had rapidly expanded its technical team by hiring top talent from Google and IBM. Meanwhile, the headquarters was moved to Zürich, close to IBM Europe and Google Switzerland. The Zürich office became the hub of DFINITY’s operations, handling nearly two-thirds of its global R&D. The foundation’s authenticity and mission-driven focus helped attract skilled professionals during a chaotic time in the blockchain industry. By late 2017, DFINITY launched its first test-net, proving the viability of smart contracts written in a simplified Haskell.
Milestones and Challenges
The Internet Computer’s development followed a series of project milestones named after elements: Copper, Bronze, Tungsten, Sodium, and Mercury. Each milestone marked a crucial step toward creating a blockchain network capable of hosting the world’s systems and services in a revolutionary mode of “full-stack decentralization.” The final milestone, Mercury, was linked to the network’s transition into a production state through the Genesis event, which unlocked its native ICP tokens and enabled decentralized governance.
Despite the challenges posed by the COVID-19 pandemic and the complexities of achieving Mercury, the team intensified efforts, working long hours to finalize critical aspects of the platform. The launch was set for May 10, 2021, marking the Internet Computer’s entry into beta production.
Breakthroughs and Resilience
The Internet Computer represented a groundbreaking achievement in blockchain and computer science. Its core features include:
- Scalable Blockchain Network: A network capable of hosting decentralized systems and services, with the ability to scale dynamically.
- Advanced Software Framework: Developers could create tamperproof and unstoppable systems, leveraging advanced DAOs and reimagined smart contract software for greater productivity.
- Internet Identity Authentication: A framework enabling secure, transparent user interactions with smart contracts, removing the need for crypto wallets in everyday transactions.
- Network Nervous System (NNS): A permissionless DAO that governs the network’s adaptability, enabling features like dynamic subnet configuration and protocol upgrades without downtime.
- Sovereign Infrastructure: Hosted on dedicated hardware, free from reliance on Big Tech intermediaries, continuing the decentralization ethos of Bitcoin.
The tokens debuted at $500, leading to a startling market capitalization of $230 billion. However, accusations of market manipulation emerged, particularly regarding the role of FTX’s ICP-PERP instrument, allegedly designed to inflate and then crash ICP prices. Disinformation campaigns and defamation followed, including a baseless “rug pull” report and a class-action lawsuit, which were later exposed as part of coordinated attacks by vested interests in the blockchain space. Despite these challenges, the Internet Computer survived and strengthened, turning adversities into opportunities for growth.
Since its launch, the Internet Computer has incorporated over 1,000 person-years of R&D effort, far outpacing other blockchain networks in technical capabilities. Key advancements include:
- Chain Key Technology: Enables seamless integration with other blockchains, driving the next wave of decentralized finance (DeFi 2.0).
- Unparalleled Scalability: Processes the equivalent of 1,000,000 to 2,000,000 Ethereum transactions per second.
- AI Integration: The only blockchain capable of hosting AI models as smart contracts, facilitating applications such as LLMs, secure biometric verification, and tradeable AI NFTs.
Conclusion
The Internet Computer ecosystem continues to grow, proving its resilience and innovation. Dominic Williams’ vision of a decentralized, autonomous world computer is not just a concept but a reality that continues to evolve. As new advancements unfold, the project is poised to redefine blockchain and enterprise computing for generations to come.
Leave a Reply