Internet Computer Report

Arthur Falls, former head of communications at Dfinity discusses the future of DeFi and Dfinity's role in it—

Timestamps

00:00......................................................Intro

00:30......................................................Arthurs Background

02:00......................................................DeFi in 2014

06:30......................................................DeFi landscape in 2020 compared to 2014

09:45......................................................What divorcing assets from their blockchains means for DeFi

12:30......................................................Problems with DeFi Today and Dfinity's role

19:00......................................................Market cycles for different blockchains and DeFi systems

25:20......................................................DeFi investing right now

29:10......................................................What to recognize about different DeFi "blockchains"

34:30......................................................Final thoughts/upcoming Dfinity releases

Permissionless platforms like Ethereum and DFINITY have opened the door to a new breed of Finance.

A financial system built on trustless protocols means builders and users alike can interact free of centralized gatekeepers.

The open source ethos of these protocols gives developers and entrepreneurs the freedom to combine and remix different components to create new products.

Imagine a new decentralized BANK that combines lending borrowing (AAVE) Asset Management (YFI) and an Automated Market Maker (UNI)… that is what the minds behind Sailfish Finance have in the works.

Internet Computer Canisters are a unique building block for the decentralized Internet. Here's the simplest explanation for the anatomy of a Dfinity canister, and why it is an evolutionary step for smart contracts.

Since the technology behind canisters is completely novel, there is no quick definition. That is why the Dfinity team explains them as having elements of more mainstream concepts. Namely smart contracts, actors, processes, and Webassembly modules. Each of those is a beast of a topic, so we're hoping to simplify all of them with relatable analogies.

If you want the explanation of canisters straight from the source, head over to this Dfinity blog:

https://medium.com/dfinity/software-canisters-an-evolution-of-smart-contracts-internet-computer-f1f92f1bfffb

From Bitcoin to Ethereum to ???. Since the ICO boom of 2017, Web3 startups all over the world claim to be Ethereum killers and the next generation of blockchain. The only one still holding strong to those claims is Dfinity. Here's a walkthrough of how we got here and why Dfinity stands out from the rest.

Today we will deep dive into DFINITY’s ICP token. Why it's needed and what separate's it from the rest of the space. One of the biggest aspects of a successful crypto project is Token Economics. We went from simple payment tokens like Bitcoin and Zcash to more complex governance & cashflow tokens like Maker and AAVE. DFINITY's ICP token seems to grasp the best of all worlds by combing intrinsic value/asset functions, governance properties, and "fuel" for computing power and storage.

Podcast Timestamps:

0:00..................................Reasons for a tokenomics episode

01:23................................Purpose of a tokenomics

02:45................................ICP Token governance function

04:20................................ICP Token compute function

06:15................................PoS vs. Dfinity's approach

09:25................................Consensus briefing

10:55................................Governance vs. consensus

12:20................................Is this a blockchain?

15:05................................Secondary tokens?

17:00................................Getting involved

17:40................................Decentralizing the token supply

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One of the biggest issues we're facing is BigTech’s hold over our daily lives. The Internet becoming is increasingly centralized to Amazon, Facebook, and Google. We’re enjoying the conveniences of these “free” services they offer but at what cost? Censorship Platform Risk etc.

We’re already seeing the effects where businesses like TikTok are being shut down by governments, comments, and opinions censored by Facebook and Twitter. And for my crypto friends watching, I’m a huge believer of Ethereum but with 60% of nodes running on AWS and google cloud, it’s a bit disturbing that these centralized powers can have such dramatic effects in every part of our lives, even the decentralized ones. In 2009 Cypherpunks responded to the corruption of financial institutions by creating an incorruptible store of value… bitcoin, in 2020 a new breed of cypherpunks have responded to big tech’s monopoly and have created the Internet Computer.

So what is DFINITY and the Internet Computer creating… In short, they are re-architecting the cloud as we know it, Internet Computer Protocol (ICP) extends the public Internet so that it can host back end software. So rather than having to spin up servers and deal with cloud services and firewalls etc.. you can simply write your code, deploy it to the Internet and it would be running seamlessly while being powered by Independent Data Centers throughout the world.

Join us in future episodes as we decipher Dfinity