Welcome to the DFINITY London Meetup. Our Meetups will focus on secure scalable base layer & third generation blockchain protocols, in particular on the decentralised DFINITY computer, its consensus system and its use of Primea and WebAssembly. Anyone who wants to help co-organise events, get involved, speak at events or has any comments or suggestions for the Meetup, please ping me a message. I look forward to further building up this Meetup and growing the DFINITY community with all of you.
DFINITY is a decentralised computer, distributed around the world with enough capacity for everyone, that's designed to evolve and that everyone can use to securely run business logic, store data and create apps all at the fraction of the cost of current IT systems. DFINITY will have two main roles:
1. Enabling people to create better business systems, with less cost to develop, more secure, more reliable, more interoperable. Can be used to host HR systems, medical records, ordering systems or any kind of business system.
2. New types of open source business using autonomous software. These open source decentralised businesses will compete with traditional intermediaries and digital service providers like UBER, ebay and dropbox. The entire application will be called straight off the DFINITY computer to your web browser.
DFINITY introduces algorithmic governance in the form of a “Blockchain Nervous System” (BNS) that can protect their end users from attacks and help restart broken systems, dynamically optimise network security and efficiency, upgrade the protocol and mitigate misuse of the platform, for example by those wishing to run illegal or immoral systems.
The DFINITY consensus mechanism uses the novel Threshold Relay technique for decentralised, deterministic randomness which is made possible by certain unique characteristics of the BLS signature system (bilinear pairings protocol). The next breakthrough is the notarisation technique which allows DFINITY consensus to solve the traditional problems that come with proof-of-stake systems. Find out more from the White Paper on the DFINITY Consensus System.
The team at DFINITY have also reengineered the WebAssembly virtual machine, originally a collaborative design by Apple, Microsoft, Google and the Mozilla Foundation. The goal of WebAssembly is to create a single standard for running applications in-browser, which will create a universal software standard and encourage the use of remote (cloud) processing and data storage.