Dfinity raises over $61 million, rivals Ethereum (Dfinity Review: Dfinity vs Ethereum) Cryptocurrency News Today

Dfinity, which is an Ethereum rival managed to raise around $61 million from marquee name investors. The investors included Andreesen Horowitz and Polychain Capital. Andersen actually made his 1st investment in the cryptocurrency space in this platform.

Ryan Zurer was the individual who promoted Polychain to invest in the platform.

With this latest fundraising, the platform has raised more than $ 100 million.

See the cryptocurrency ticker at the end of article for current prices!  

According to Chief scientist of the company Dominic Williams, the technology of the platform is pretty revolutionary. It would constitute as cloud 3.0.

What is the difference between Ethereum and Dfinity?

The main difference is that Dfinity is much faster as compared to any other decentralized platform. Moreover, the users on this platform would have high security which would help them in staying away from scams which usually revolve around cryptocurrencies. Also, there are no backdoors which would ensure that hackers are not able to gain access to the platform.

The enhanced security would always up in the corporations as well as software developers who are using this platform. The reason for this is that in the last one year, there have been plenty of successful attempts to hack cryptocurrencies. The largest one being around $ 500 million of a Japanese exchange. This is one of the main reasons why cryptocurrency investors, as well as exchanges, would be looking for a new technology which provides enhanced security.

Also, the transaction verification can be done within 3 to 5 seconds. This ensures that it is much faster as compared to Ethereum. Statistically, it is over 150 times faster as compared to Ethereum and over 900 times faster as compared to Bitcoin. This is one of the main reasons why this platform would receive a lot of attention from the investors as well as the cryptocurrency exchanges as well.

This also means that the cryptocurrency would actually rise in value enormously in the recent future as well as the potential of this cryptocurrency is much more as compared to some of the others.

Currently, the main problem which is underlying with Bitcoin is that the transaction time has increased significantly. The transaction time is in the range of 3 to 4 hours. This is one of the main reasons why many of the cryptocurrency developers are actually looking to create a lighting network which would help them increase the transacting speed of cryptocurrencies.

However, with the help of Dfinity, the investors would be able to easily get a faster cryptocurrency as well as a decentralized platform.

Legal Disclaimer: Smartereum does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice. Investing in cryptocurrencies and other Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Smartereum or the writer to invest in cryptocurrencies or other ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Smartereum makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns small amounts of cryptocurrency.
Crypto Currency Price24H Changes
Bitcoin (BTC)
10604.2
-10.45%
Ethereum (ETH)
841.973
-9.02%
Ripple (XRP)
1.01598
-9.31%
Bitcoin Cash (BCH)
1325.68
-11.91%
Litecoin (LTC)
211.507
-14.32%
Cardano (ADA)
0.367471
-5.78%
Stellar (XLM)
0.393598
-6.36%
EOS (EOS)
8.67109
-9.95%
Dash (DASH)
678.336
-5.64%
IOTA (MIOTA)
1.77574
-10.44%
Monero (XMR)
304.813
-3.81%
NEM (XEM)
0.467147
-7.07%
Ethereum Classic (ETC)
35.5786
-12.24%
TRON (TRX)
0.0444254
-8.52%
VeChain (VEN)
5.81247
-13.12%
Lisk (LSK)
22.3679
-19.42%
Tether (USDT)
0.997082
-0.3%
Qtum (QTUM)
28.2647
-12.2%
Bitcoin Gold (BTG)
123.113
-11.09%
OmiseGO (OMG)
17.7908
-10.03%

About the author

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David Malik

Tech blogger

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