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      Dfinity Foundation addresses concerns regarding decentralization of ICP - Stocks Telegraph

      By Muskan

      Published on

      May 28, 2021

      9:19 AM UTC

      Dfinity Foundation addresses concerns regarding decentralization of ICP - Stocks Telegraph

      Dfinity Foundation – the organization behind Internet Computer Protocol – has decided to calm the critics of ICP with a “Ask Me Anything” thread of Reddit. The foundation had been facing a lot of criticism concerning the privacy and decentralization of its Internet Computer Protocol. The team aimed to assure the community that decentralization is a major part of their vision and it will not be compromised at any cost.

      The Internet Computer Protocol aims to build the next generation of the internet by leveraging blockchain technology. The newer internet will comprise of data centers, nodes, and users coordinated through the network Nervous System (NNS). The ICP landed itself in the top ten ranked cryptocurrencies days after its launch which was considered remarkable. However, the initial hype soon died down as more and more users dived deep into the network. Problems with the Network Nervous System arose. The NNS has the controlling power which has led to users to contemplate about the voting rights and decentralization of the NNS.

      Dfinity Foundation’s head of product, Diego Prats, has clarified that the Foundation do not have any control of the Internet Computer Protocol and it is decentralized. Prats also addressed other concerns regarding the use of singular Internet Identity. Many other members of the core team have also been actively countering critics. Time will tell whether or not ICP succeeds in what it claims to do.

      Dfinity Foundation has also launched a $223 million fund for the development of Internet Computer Protocol. Applications are open for the “Developer Ecosystem Program”. Previously, another fund called Beacon Fund had also been launched but that was aimed at developers who are creating open internet services on the ICP network.

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