On September 30th, DFINITY officially released Sodium, the last test network before the main network, which was the last milestone before the official launch of Internet Computer in the fourth quarter of this year.
The company also announced details of its governance system, the Network Neural System (NNS).
NNS will use a proprietary token called ICP to facilitate operations on its Internet computers.
When the mainnet is released, there will be 469,213,710 ICP tokens, and this number depends on the number of tokens previously issued through pre-sales and other distribution rounds.
Although NNS’s recent fundraising campaign offered ICP tokens at a price of approximately US$4.50, the futures price of the asset currently exceeds US$17.
If this hypothetical value is true, then the market value of the token at the time of launch will reach approximately $8 billion.
Such a high price will be enough to make it directly into the top 5 of CoinMarketCap.
Dominic Williams, chief scientist and founder of DFINITY, said in an interview:
“We focus on technology to ensure that Internet computers can run successfully. It will bring huge positive impact and benefits to the world… We believe that in the long run, the market, especially the cryptocurrency market, is a very unstable short-term indicator.”
NNS is an algorithmic governance system that will allow ICP holders to lock tokens in it to create “neurons.” They provide voting rights for proposals that affect the operation of the network, and reward participants in the form of additional ICP tokens.
Independent data centers running special node hardware supporting DFINITY Internet computers will also receive ICP token rewards.
Williams said: “This is a technical solution to the system problems caused by the monopoly of the Internet by large technology companies. NNS is the catalyst for the open Internet that we promised in the 1990s. It ensures that the Internet remains open and free in the future.”
DFINITY’s Internet computers are designed to provide a truly decentralized alternative to run and host content through the cloud services of large technology companies. The user directly interacts with the code stored on the immutable blockchain.
Author Amy Liu
