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DFINITY Genesis Launch Event Scheduled for May 7, 2021

UTC by Benjamin Godfrey · 3 min read
DFINITY Genesis Launch Event Scheduled for May 7, 2021
Photo: Pixabay

The Mercury Beta Mainnet launch was crucial for the Internet Computer’s broader proposed overhaul in both website infrastructures and today’s growing data economy.

Following the successful achievement of the all-important 5 milestones, the long-awaited DFINITY Genesis launch event is now slated for May 7, 2021. The Genesis launch will be the gateway to usher in the Internet Computer project as a part of the public web, opening a whole new level of opportunities for developers, enterprises, and consumers in today’s growing web age.

In the DFINITY project roadmap leading up to this proposed Genesis launch event, important network milestones such as the Bronze, Copper, Tungsten, Sodium, and Mercury Alpha public releases have been completed, with the Mercury Beta Mainnet just concluded on March 30th according to an earlier Coinspeaker report.

The Mercury Beta Mainnet launch was crucial for the Internet Computer’s broader proposed overhaul in both website infrastructures and today’s growing data economy. Per the report, Dominic Williams, the President and Chief Scientist of the Internet Computer project noted that the entire project design can “host any volume of smart contract computations and store any quantity of data”. This capability further enhances the broad use cases and utility of the underlying blockchain technology upon which DFINITY bases its entire innovation on.

The Internet Computer is built to be “autonomous and adaptive,” and according to Williams, the infrastructure is supported by independent node machines within multiple and independent data centers. These data centers operate under the Network Nervous System (NNS) which serves as the self-functioning driver of the computer mainnet.

DFINITY Genesis Launch Will Bring the Fight to the Big Tech

The DFINITY Genesis Launch will arguably pose grant every internet user, developer, and business autonomy over their web-linked data, through the decentralized model in which the Internet Computer will function.

Besides the need to improve user experience as it relates to the use of the internet in general, the brains behind the Internet Computer believes undue autonomy being wielded by major web infrastructure services providers such as Amazon Web Services (AWS), and Microsoft Azure amongst others in user’s data control can be eliminated.

The protocol will rather pursue a decentralized governance scheme through the help of the ICP Utility tokens.

“The NNS governance system will run on a native token, dubbed ICP. These tokens fuel Dfinity’s decentralized web, akin to how ETH provides gas for the Ethereum network. ICP can also be used to participate in governance, allowing holders to vote on the proposals that will shape the future of the Internet Computer,” wrote Will Heasman for Decrypt.

The major difference being wielded by the Internet Computer, however, is that it presents a faster network speed when compared to what Ethereum currently offers. In all, since the launch of the mainnet, the Internet Computer has created over 500,000 blocks, and the NNS advanced its efforts to onboard 896 nodes in the first quarter and will be followed by thousands of nodes by end of 2021 and then into the millions by 2030.

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Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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