By Mira Christanto & Wilson Withiam

May 10, 2021 ⋅ Analysis

Dfinity is one of the most tenured and well-funded smart contract platforms in crypto. Yet it is also one of the least understood. Most of Dfinity’s obscurity is due to its technical complexity and abstract vision. The launch of their token and finally open sourcing their code will create more interest and understanding in the project.

Dfinity是加密世界中，最老牌有资历、资金最充裕的智能合约平台之一。然而同时它也是最不不受理解的平台之一。Dfinity的不知名（或指难以让人理解）的大多数原因是其复杂的技术，和抽象的愿景。他们代币的正式推出，以及虽迟但到的代码开源，将使人们对该项目产生更多的兴趣和理解。

We’ve seen blockchain technology, such as Ethereum’s “world computer” aspirations, applied to tackle traditional finance and analog collectibles. However, Dfinity is trying to tackle the issues related to traditional internet. Most content, functionality, and user data exist in proprietary ecosystems controlled by big-tech companies. Dfinity’s answer, the Internet Computer, is a reimagining of the IT stack where developers can build and host software free from the big-tech monopolies that control user data today.

我们已经见识到区块链技术，运用于于解决传统金融问题和模拟收藏品（应该指nft收藏品），例如以太坊成为“世界计算机”的志向、愿景。不同的是，Dfinity是打算要解决传统互联网派生的相关问题。大多数内容（用户创造的任何东西）、功能和用户数据都存在于由大型科技公司控制、所有的生态系统中。（针对这个问题）Dfinity的解决方案是—-互联网计算机，指对IT 堆栈的重构（重新思考），基于该IT 堆栈，开发人员可以在其中构建和运行软件，而不受当今控制用户数据的技术垄断巨头的影响。

Since 2016, Dfinity has been focused on building the “Internet Computer”, a decentralized blockchain network that aims to expand the functionality of the internet. The problem Dfinity is addressing extends beyond just blockchain technology. It aims to build a decentralized, scalable cloud-like platform that can store data, perform computation, and support community-driven governance. It’s addressing the issues plaguing traditional internet, such as relatively low data security and an oligopoly consisting of big tech companies.

自2016年开始，Dfinity 一直专注于构建“互联网计算机”，这是一个旨在扩展互联网功能的去中心化区块链网络。Dfinity 正在尝试解决的问题不仅限于区块链技术。它旨在构建一个去中心化、可扩展的类似云的平台，基于该平台可以存储数据、执行运算、实现社区治理。它正在尝试解决困扰传统互联网的问题，例如相对较低的数据安全性、科技巨头形成的寡头垄断。

Crypto natives might immediately think of Ethereum’s “world computer” or Polkadot’s “meta-protocol” when they think about analogies to the Internet Computer. However, Dfinity intends to redefine what a blockchain is supposed to do. While Dfinity’s first iteration looked similar to ETH 2.0, its scope now extends beyond Ethereum’s base capabilities. Dfinity wants the internet itself to support software applications and data, rather than simply providing peer-to-peer connections and relying on proprietary cloud-hosting services to handle the rest.

当加密土著用类比思维去思考互联网计算机的时候，他们可能很快就会联想到以太坊的“世界计算机”或波卡的“元协议”。然而，Dfinity 打算重新定义区块链应该做什么。（意指icp做的和eth和pot是不一样的）虽然 Dfinity 的第一次迭代看起来类似于 ETH 2.0，但它的（功能）范围现在已经超出以太坊的基本功能。Dfinity 希望互联网本身，就能够支持软件应用程序和数据，而不是简单地提供点对点连接，并依靠专有的云托管服务来处理其余部分。

The Internet Computer (IC) is less about building an immutable ledger and more about building an open-access internet. The internet connects billions of people through TCP/IP protocols. The Internet Computer Protocol (ICP) aims to take this concept one step further by offering a public compute platform so that developers, enterprises, and government agencies can deploy software and services directly to the public internet. Like Ethereum, this platform would allow developers to run computing applications on decentralized infrastructure. Unlike Ethereum, the IC intends to offer companies the efficiency to run these applications at scale and the flexibility to build them to fit a particular user base’s specific needs (e.g. privacy).

互联网计算机 (IC) 与其说是建立一个不可变的账本（指一般的区块链），不如说是打造一个开放访问的互联网（对比当前用户访问权是受限的互联网现状）。当前互联网通过 TCP/IP 协议连接数十亿人。互联网计算机协议想要更进一步（做的更多、实现更多），就是通过提供公开的运算平台，让开发者、企业和政府部门能够直接在这样的公开互联网上，部署软件和服务。和以太坊一样，IC平台允许开发者在去中心化的基础架构上，运算应用程序。和以太坊不一样的是，IC平台让公司们（开发者）能大规模且有效率地运行应用程序，以及提供更多灵活性 让公司能基于个性化的用户需要（比如隐私）去开发（应用来满足用户群体的需要）。（自己小结：icp提供去中心化的大量、复杂云计算的服务，而且是去中心化的—当然是相对于现在的internet而言）

In the current internet landscape, big-tech firms control user-created content and data. The algorithms and systems behind these platforms are proprietary. Big-tech platforms like Twitter and Google have a great deal of control over how users interact with each other and also how they interact with third-party services outside the platform.

互联网现状是，科技巨头掌控了用户创造的内容和数据。（这些科技巨头）平台背后的算法、系统，都是（公司）独占、所有的。例如推特和谷歌这样的巨头平台，对于用户之间的互动方式、用户和平台之外的第三方服务之间的互动方式，有很大的控制权。

Founder Dominic Williams cited that the internet has become much more monopolistic and corporate. Tech monoliths such as Facebook or Amazon Web Services (AWS) can change platform parameters and access without prior notice, putting users and companies that rely on these services at a heightened risk. Zygna, a social games company, was disenfranchised when Facebook changed its rules. Fortnite has been delisted from Google and Apple's App Store after refusing to pay the 30% revenue share. Twitter restricted the use of its API in 2012, crippling the development of third-party clients and limiting the possible uses of data from its network among non-partner entities. LinkedIn did the same in 2015.

IC创始人多米尼克引言说，互联网已经越来越垄断和公司化。比如FB、亚马逊AWS可以在没有提前通知的情况下，修改平台的参数和访问权，这就让依赖这些服务的用户和公司面临更高的风险。（例如）当 Facebook 修改规则、条款时，社交游戏公司 Zynga 被剥夺了权利（指用户本来所享受的一些权益可以被随时修改而被剥夺）。在拒绝支付 30% 的收入分成后，Fortnite 被 Google 和 Apple移出应用商店。Twitter在 2012 年限制了其 API 的使用，严重削弱了第三方客户端的开发，并限制了非合作实体（机构、用户等）对推特的网络数据的使用 。LinkedIn在 2015 年也这样做了。

Limiting access to third-party developers could stall innovation as entrepreneurs face a degree of 'platform risk'. In response, the IC hopes to bring a new generation of software and services that is open-sourced. It aims to not only reduce platform risk but also reduce complexity in building and maintaining systems. This would also accelerate the time it takes developers to launch a new product. Executed correctly, Dfinity hopes to offer the first blockchain that runs at web speed and can scale to support any volume of smart contract computations and any amount of data.

（web2下）有限的第三方开发者的访问权，会阻碍创新，因为企业家（开发者们）会面临“平台风险”（随意修改规则等损害用户利益）。作为回应，IC希望带来一种开源的新一代软件和服务。IC旨在降低平台风险，和减少（开发者、用户）建立和维护系统（项目）的复杂性。这还能加快开发者发布新项目的速度。如果项目执行得当，Dfinity希望提供第一条以网络速度运行的区块链，并且该链可以扩容，来支持任何量级的智能合约计算，以及支持任何数量级的数据。

This new IT stack will have more hardware requirements. The IC will rely more on large data centers and high-end node machines (validators) compared to networks like Ethereum. But its advantages could lead to entirely new, more accessible, and less data extractive use cases. These applications could include interoperability, privacy, security, and openness. Use cases include social media, private messaging, search, storage, and peer-to-peer internet interactions. If the IC succeeds at replacing legacy IT, there would be no need for centralized DNS services, anti-virus, firewalls, database systems, cloud services, and VPNs either.

这个新的IT堆栈会对硬件有更多要求。相比于如以太坊这样的网络，IC网络更多会依赖于大型数据中心和高端的节点机器（验证节点）。但是IC的优势是，它可能会带来更多的全新的、更易于访问的、更少数据提取的应用。这些应用能兼具互操作性、隐私性、安全性和开放性。应用案例包括社交媒体、私人通讯、搜索、存储、点对点互联网交互。如果IC能顺利取代旧的IT，那么对中心化DNS服务、杀毒、防火墙、数据库系统、云服务、VPN等的需求，也就不复存在了。

To summarize Dfinity’s new offering for developers who want an alternative, the benefits of starting to build on the internet include:

• Setup Cost: Developers don’t have to sign up for numerous vendors.

• Operating Cost: A secure protocol means that the operating cost of maintaining safety and dealing with complexity goes down.

• Development: Dfinity proposes that the Internet Computer reimagines software itself, simplifying the process of building and maintaining systems. This leaves more time to focus on user experience

• Openness: The IC introduces an open software that guarantees access to functionality through APIs to other services ？？？？？

总结一下，Dfinity为那些想要（针对旧互联网的）替代方案的开发者提供了新的方案，在ICP上开展项目建设的好处包括：

• 设置成本：开发者不需要注册很多的供应商（应该指如各种云服务提供商）。

• 运营成本：安全的协议意味着维护安全和处理复杂事务的运营成本下降。

• 开发：Dfinity 提倡IC要重新构思软件本身，简化构建和维护系统的过程。 这能让（开发者）把更多时间专注于用户体验（提升）。

• 开放性：IC 引入了一种开放的软件，确保（软件用户）能通过 API 访问各种功能和其他服务。

Similar to how Polkadot’s network is built by Parity and the Web3 Foundation, the Internet Computer is built by the Dfinity Foundation. The non-profit organization was founded in 2016 by tech entrepreneur Dominic Williams who now serves as Dfinity’s Chief Scientist. The Internet Computer is the culmination of five years of research and development by top cryptographers and experts in distributed systems and programming languages. Dfinity currently has nearly 100,000 academic citations and 200 patents.

波卡网络是由Parity和Web3 Foundation建立的，与此相似，IC是由Dfinity Foundation建立的。这个非营利性机构（Dfinity Foundation）在2016年由技术企业家多米尼克.威廉姆斯建立，他也是Dfinity项目的首席科学家。IC是顶级密码学家、分布式系统领域和编程语言的专家经过五年的研发的结晶。Dfinity 目前拥有近100,000 次学术引用和 200 项专利。

Dfinity is one of crypto’s most well-funded and publicized projects. Mainnet launches on May 7, 2021 and its token is slated to publicly launch on May 10. The project actually started fundraising before the ICO boom under the ticker $DFN but has since rebranded to $ICP. After Polkadot, Dfinity has raised the most capital. It has also raised the most non-frozen funds at $160 million to date:

Dfinity是加密世界中资金最充裕、宣传最多（出名）的项目之一。其主网在2021年5月7日发布，其代币预定在5月10日公开发放。该项目其实在ICO热潮之前就以DFN代号开始融资了，但是之后更名成ICP。Dfinity是仅次于波卡的募资最多的项目。它还筹集了史上最多的非冻结资金—1.6 亿美元。

There have been several conflicting versions of Dfinity’s fundraising rounds in the media. According to Dfinity, they had three main rounds and one airdrop event:

媒体上存在几个互相矛盾的Dfinity项目募资版本。根据Dfinity项目的消息，项目有3个主轮和一次空头活动。

1. Seed Round, Feb-2017: This round was advertised by a tweet and open to the public by downloading a web extension. Dfinity raised CHF3.9 million (US$3.9 million) from 370 participants, at a valuation of $16 million, or a price of $0.03 per token. It held a portion of these funds in ETH and BTC during the 2017 crypto bull run. According to the team, Dfinity at one point turned these earlier ETH and BTC allocations into $40 million worth of fiat. Dfinity had promised these Seed investors that the subsequent round would be a CHF 20 million main fundraising event, similar to an ICO. However, after the 2017 boom, the project realized its valuation target was set too low. Furthermore, Dfinity cited that it didn’t have any immediate funding shortfalls, and running an ICO fundraise could have placed it in a grey legal territory where securities law was concerned. As a tradeoff, to reward early participants, the team promised that the Seed investors would be awarded 24.72% of tokens at genesis.

1.种子轮，2017年2月：本轮募资由一则推特进行推广宣传，并且通过下载网页扩展程序来向公众开放。Dfinity从370个种子轮参与者中，募集了390万瑞士法郎（即390万美元），估值一共1600万美元，每个代币0.03美元。在2017年币圈牛市中，这部分募资的一部分以ETH和BTC形式持有。据团队的消息，Dfinity在某一时间点，把这些早期分配的ETH和BTC变现成4000万美元等值的法币。Dfinity也对这些种子轮投资者承诺过，下一轮会是价值2000万瑞士法郎的主要募资轮，相当于一场ICO（首次代币销售）。然而，2017年（市场）爆发后，项目方意识到本项目估值目标过低。此外，Dfinity声称没有直接的资金短缺（应该指短期内），以及进行ICO募资，可能把项目置于涉及证券法的法律灰色地带。作为权衡（指当时不进行ICO的代价），为了奖励早期参与者，团队承诺在创世（代币正式发放）阶段，种子轮投资者会获得24.72%的代币。

1. Strategic Round, Jan-2018: Dfinity raised $20.54 million for 7.00% of the initial supply (the number has been revised from the previously cited 6.84%). This allocation will vest monthly over three years starting from mainnet launch (May 2021). Participants include Polychain Capital, Andreessen Horowitz, CoinFund, Multicoin Capital, and Greycroft Partners. This round marks the first token a16z invested in. Polychain and Dfinity later collaborated to create the “DFINITY Ecosystem Venture Fund” of an undisclosed size. The goal is to fund new projects that would grow the IC’s application ecosystem. The media reported that Dfinity raised a much larger amount of $61 million. It’s possible that this enlarged amount has either been revised or included funds for the Ecosystem Venture Fund.

2.战略轮，2018年1月：Dfinity 筹集了 2054 万美元，占初始供应量的 7.00%（该数值已从先前 6.84% 进行了修订）。从主网启动（2021年5月）开始，这轮代币会在三年内每个月发放一次。参与投资方包括 Polychain Capital、Andreessen Horowitz、CoinFund、Multicoin Capital 和 Greycroft Partners。本轮是 a16z 投资的第一个代币。Polychain 和 Dfinity 后来合作创建了一个未公开规模的“DFINITY生态风险基金”。

1. Private Sale, Aug-2018: 110 participants contributed $97 million for 4.96% of the initial supply, sold at $4 per ICP token. This number has been revised from 4.75% previously reported. This allocation came with a monthly vesting schedule of one year from mainnet launch. Vesting will begin at the initial token distribution event on May 10, 2021. Participants in this round include Andreessen Horowitz, Polychain Capital, SV Angel, Aspect Ventures, Electric Capital, ZeroEx, Scalar Capital, and Multicoin Capital.

私下销售（未面向公众的资产发售），2018年8月：110 名参与者共出资 9700 万美元，占初始供应量的 4.96%，以每个 ICP 代币 4 美元的价格出售。该数字已从之前报告的 4.75% 进行了修改。主网启动后，本轮募资的代币一年内分月发放。（代币）发放将于 2021 年 5 月 10 日的初始代币分发开始。本轮投资方包括 Andreessen Horowitz、Polychain Capital、SV Angel、Aspect Ventures、Electric Capital、ZeroEx、Scalar Capital 和 Multicoin Capital。

1. AirDrop, May-2018: $35 million worth of ICP tokens (formerly DFN), or 0.80% of the initial supply, was airdropped to early supporters by being part of their mailing list, forums, slack, and community. At this time, valuations reached $1.89 billion. Airdrop participants received the IOU version of their ICP tokens in September 2020. These tokens will become transferable on May 10, 2021.

空投，2018年5月：价值 3500 万美元的 ICP 代币（之前叫 DFN），即占初始供应量的 0.80%的代币，空投给项目早期的支持者，即那些进入邮件名单、论坛、slack（？？）、社区的人。此时，项目估值达到 18.9 亿美元。空投参与者于 2020 年 9 月收到了其 ICP 代币的 IOU 版本。从2021 年 5 月 10 日开始，这些代币才可以转让、流通。

There will be 469,213,710 ICP tokens at genesis and the token supply will be distributed as follows. The table below summarizes the round, which can also be found in our spreadsheet here.

创世时将有 469,213,710 个 ICP 代币，流通代币分配如下。 以下图表总结了各轮募资，各轮募资也可以在我们的电子表格中找到。（这里的表格信息比文章贴的更详细）

• 24.72% Seed Investors: those who invested in Feb-2017 for a total of CHF3.9 million (Swiss Francs)

• 24.72% 种子轮投资者：2017 年 2 月投资总额为 390 万瑞士法郎的投资者

• 23.9% Dfinity Foundation: The Dfinity Foundation manages the capital raised from the token sales. It also oversees its Foundation Endowment of ICP tokens. These tokens are those held by or already spent by the Foundation to fund R&D, operations, acquire technology, finance community-building programs, and partner incentives.

• 23.9% Dfinity 基金会：Dfinity 基金会管理代币销售筹集的资金。它也监督“分配给基金会的ICP代币”即Foundation Endowment of ICP tokens（应该是特指的专有名词）。这些代币是基金会持有的，或已经使用了的代币，用于资助研发、运营、获取技术、资助社区建设计划和合作伙伴激励。

• 18.0% Team Members: There are ~200 team members

• 18.0% 团队成员：大约有 200 名团队成员

• 9.5% Early Contributors: these are the 50 people who helped in the team before the Foundation was set up

• 9.5% 早期贡献者：指在基金会成立之前帮助团队的 50 人

• 7.0% Strategic Investors: from the $20.54 million raise from Polychain Capital, Andreessen Horowitz, CoinFund, Multicoin Capital, and Greycroft Partners

• 7.0% 战略轮投资者：来自 Polychain Capital、Andreessen Horowitz、CoinFund、Multicoin Capital 和 Greycroft Partners 的 2054 万美元融资

• 4.96% Private Presale Investors: from the $97 million raised from a16z, Polychain, SV Angel, Aspect Ventures, Electric Capital, ZeroEx, Scalar Capital, and Multicoin Capital

• 4.96% 私下预售投资者：来自 a16z、Polychain、SV Angel、Aspect Ventures、Electric Capital、ZeroEx、Scalar Capital 和 Multicoin Capital 筹集的 9700 万美元

下图为ICP代币上线时的代币分配

Dfinity is growing its network of data centers and developers. At the time of launch, 12 independent data centers run 7 subnets with 68 nodes -- IC “nodes” are similar to ETH2 “validators.” The Foundation expects the number of IC data center and node operators to gradually grow post-launch to support the network’s ecosystem of apps (see below for details). The team targets for the network to reach 123 data centers running 4,300 nodes by the end of 2021. Dfinity hopes to eventually scale to thousands of data centers running millions of nodes in the future.

Dfinity正在扩充其由数据中心和开发人员构成的网络。在ICP代币发布时，12 个独立的数据中心以及68 个节点，运行了 7 个子网 ，IC的“节点”类似 ETH2“的验证器”。基金会预计 IC 数据中心和节点运营商的数量，将在代币发布后逐渐增长，来支持网络生态中的应用程序（详见下文）。团队对IC网络的目标是到 2021 年底，实现123 个运行着4300个节点的数据中心。Dfinity希望网络最终扩展到，运行着数百万个节点的数千个数据中心。

Dfinity was founded in 2016 by Dominic Williams. The Dfinity Foundation has around 200 people on the core team. Notable contributors mentioned by the team and media include:

Dfinity 由多米尼克·威廉姆斯于 2016 年创立。 Dfinity 基金会的核心团队约有 200 人。 由团队和媒体提到的主要、著名的贡献者包括：

• Dominic Williams, Chief Scientist: Williams was a serial entrepreneur, having created a file storage service and children’s multiplayer online game involving a collection of monsters. Distributed computing was required to store the lists of monster fights and gold nugget rewards, connecting the games together. Williams also wanted to create a game coin and looked at Proof of Stake ideas, though the technology was still nascent. He went into full-time crypto research in 2014. Williams designed Internet Computer’s Threshold Relay.

• 首席科学家 Dominic Williams：Williams 是一位连续创业者，创建了文件存储服务和儿童玩的多人在线游戏，该游戏包含怪物集合。 需要分布式计算来，存储怪物们的战斗的列表和金块奖励的列表，（应该指分布式的计算）把游戏连接从而形成整体。威廉姆斯还想创造一种游戏币，并且研究了权益证明（POS），尽管这项技术仍处于初期阶段。 他于 2014 年开始全职投入加密研究。威廉姆斯设计了互联网计算机（IC）的阈值中继。

• Jan Camenisch, VP of Head of Research & Crypto: Prior to joining Dfinity, Jan was at IBM Research, where he led the Privacy and Cryptography research team and was a member of the IBM Academy of Technology. He has published 130 papers and holds 140 patents.

• Jan Camenisch，「研究与加密」的主管副总裁：在加入 Dfinity 之前，Jan 曾在「IBM Research」领导「隐私和加密」这个研究团队，并且是 IBM「技术学院」的成员。 他发表论文130篇，拥有专利140项。

• Johan Georg Granström, Director of Engineering: Granström came from Google, where he was a tech lead manager at YouTube.

• Johan Georg Granström，工程总监：Granström 来自 Google，曾在 YouTube 担任技术主管。

• Andreas Rossberg, Researcher and Engineer: Rossberg was formerly at Google and spent time as the JavaScript language team lead at Chrome V8. He is also a co-creator of WebAssembly, a new type of code that can be run in modern web browsers, which is also used at Dfinity. He also created Internet Computer’s programming language Motoko.

• Andreas Rossberg，研究员兼工程师：Rossberg 曾在 Google 工作，曾在 Chrome V8 担任 JavaScript 语言的团队负责人。他还是 WebAssembly 的共同创始人之一，这是一种可以在现代 网页浏览器中运行的新型代码，这种代码也用于 Dfinity。他还创建了IC的编程语言 Motoko。

• Benjamin Lynn, Engineer: Lynn is the “L” in BLS Signatures, which was introduced in a report in 2001 and has since become increasingly important in cryptography. One of Dfinity’s technological offerings is a secure randomness beacon, based on a threshold Verifiable Random Function (VRF). This means randomness that can be replicated, if under the same conditions. It’s a pseudo-random function that provides verifiable proof of its output’s correctness. BLS cryptography is used to generate randomness and achieve security, speed, and scale in public networks. Before that, Lynn was at Google and has a Ph.D. in Computer Science from Stanford University

• 工程师 Benjamin Lynn：Lynn 是 「BLS 加密签名方法」的“L”（Boneh–Lynn–Shacham三人创造该签名方法），该签名方法于 2001 年在一份报告中引入，此后在密码学中变得越来越重要。Dfinity的技术产品之一，是基于阈值可验证随机函数 (VRF) 的安全随机信标。这意味着在相同条件下，随机性是可以被复制的。 这是一个伪随机函数，可提供输出正确性的可验证证明。 BLS 密码学用于在公共网络中，生成随机性，实现安全性、速度和规模。在此之前，Lynn在谷歌工作并拥有斯坦福大学计算机科学博士学位。

• Timo Hanke, Principal Researcher: Hanke is a former mathematics and cryptography professor. He then joined CoinTerra in 2014, a manufacturer for Bitcoin mining ASICs and systems, where he served as Head of Research and later as CTO. Hanke has filed several patents on ASIC optimization for Bitcoin mining. He invented a method named AsicBoost that improves the cost and efficiency of Bitcoin mining by 20%.

• Timo Hanke，首席研究员：Hanke之前是数学和密码学教授。后来他于 2014 年加入 CoinTerra，这是一家专门做比特币ASICs矿机和系统的制造商，他在其中担任研究主管，后来担任首席技术官。Hanke 已经申请了多项，针对比特币挖矿的 ASIC 优化专利。他发明了一种名为 AsicBoost 的方法，将比特币挖矿的成本和效率优化了 20%。

• Mahnush Movahedi, Senior Researcher: Movahedi joined from Yale University where she worked on scalable and fault-tolerant distributed algorithms for consensus and secure multi-party computation, secret sharing, and interactive communication over noisy channels

• Mahnush Movahedi，高级研究员：Movahedi加入项目之前在耶鲁大学工作，在耶鲁她从事可扩展和容错分布式算法的工作，以实现共识和安全的多方计算、秘密共享以及噪声通道上的交互式通信。

The purpose of the Internet Computer is to extend the public internet, so it can also be the world’s compute platform. Dfinity has just publicly released the source code on May 10 2021. Before this, the technical and design information of the ICP and the cryptographic puzzle that makes the Internet Computer function was unknown. However, the public knew that the company and technology have also continued to evolve, with some methods discussed in the past years discarded and changed. Below, we summarize what Dfinity and its community have publicly shared:

IC的目标是扩展公共互联网，因此它（扩展后的IC的互联网）也可以是世界的计算平台。Dfinity刚刚在2021年5月10日公开了源代码。在这之前，关于ICP项目的技术、设计信息和实现IC功能的密码学谜题（应该是指类似POW机制下矿工需要计算密码学难题来获得记账圈），都是无人知晓的。虽然，在过去的这几年中，一些人们讨论的办法被抛弃或修改了，公众还是知道该公司和其技术都是在持续演化发展的。以下部分，我们会总结那些Dfinity和其社区公开过的（技术信息）

The Internet Computer is a blockchain computer protocol, constructed from a hierarchy of building blocks. At the bottom of the pyramid are independent data centers around the world. They host ICP-specific node hardware, which communicates to achieve a consensus on what the state of the IC should be. A collection of nodes, which ensures decentralization, is called a subnet.

互联网计算机IC是一个区块链计算机协议，其结构是按层级制搭建的多个区块而组成。在这个金字塔形底部是全球各地的独立的数据中心。数据中心托管着专门用于ICP节点的硬件，通过这些硬件的互相通信来实现IC的共识机制。一组能确保去中心化的节点的集合，被称为子网。

Subnets are likened to blockchains within the IC, the fundamental building blocks of the overall network. They are responsible for hosting a distinct subset of software canisters. A canister is a bundle of code that developers can create from any high-level programming language (like Rust or Dfinity’s own language Motoko) to form programs. Programs can include simple websites, decentralized applications, or even entire enterprise software. For example, an open version of Facebook would be hosted in millions of canisters. The state of these canisters is replicated in all of the nodes.

子网相当于 IC 中的一条条区块链，是整个网络中最基本的块（应该类比铺砖中最底层的砖块）。子网们负责托管不同子集下的软件容器「canister」（多个canister形成不同的子集）。一个canister是一堆代码（代码包），这些代码包是开发者可以从任何高级编程语言（如Rust和Dfinity项目自己的语言motoko）敲出来，以形成程序的。程序可以包含简单的网站、去中心化应用dapp，甚至整个企业的软件。比如，一个开源版的Facebook会由成千上万的canister进行托管，这些canisters的状态，都会复制到所有的节点中（感觉就像去中心化的云计算服务）。

掌控多个容器集合的子网

As canisters are computational units that consist of both code and data -- they can be analogous to an advanced Ethereum smart contract or a Windows operating system. For example, an operating system can make certain processes such as manipulating files and communicating with nearby devices. Similarly, the IC provides publicly specified APIs to canisters so that they can interact with each other, make payments, create and manage other canisters, manage permissions and get the system time. However, unlike an operating system, a canister is replicated over all nodes in a subnetwork.

既然canister是构成代码和数据的计算单位，他们类似高级版的以太坊智能合约 或windows的操作系统。比如，操作系统可以进行某些操作，如处理文件和与附近的设备通信。类似的，IC给予了canister公开的指定的API，从而实现canister的互相交互、进行支付、创建和管理其他canister、管理权限、获得系统的时间。然而，与操作系统不同的是，canister在被拷贝到子网络中所有的节点上。

For the IC to scale in a secure manner, add new features, or withstand unpredictable events such as natural disasters -- the number of and the composition of subnets can be adjusted. For example, new subnets can be added or split, nodes can be added, terminated, or moved. As a result, the IC needs to be able to decide how to evolve the protocol. To do this, the protocol has a Network Nervous System (NNS).

为了让IC以安全的方式进行扩容，增加新功能，或者应对如自然灾害这样的不可预测事件--子网的数量和组成是可以调整的。比如，能增加新的子网、拆分子网，节点可以增加、关闭或移动。因此，IC必须要有能力、权限去决定如何发展该协议。为了实现这个目标，协议配有网络神经系统（NNS）

Network Nervous System

网络神经系统

A subnet is created by the NNS, an open algorithmic governance system that oversees the network. As the name suggests, it’s the nervous system -- controlling all aspects of the network. Among other things, it can

子网由NNS创建。NNS是一个公开的算法治理系统，其监督着网络。就如其名字(网络神经系统)隐含的意思那样，它是神经系统—控制着网络的方方面面。在其他方面，NNS能够

• split and merge subnets to balance load across the overall network. For example, a subnet could have a dozen canisters and if the NNS splits the subnet, a portion of the canisters would stay with the original subnet while the rest would be hosted under the new subnet.

• 拆分、合并子网，来平衡全网的负载。比如，一个子网能含有许多个气罐，如果NNS拆分这个子网，一部分气罐留在原来的子网里，其余部分气罐由新的子网托管。

• upgrade the protocol and software used by node machines.

• 升级节点机器（应该指节点使用的硬件）使用的协议和软件。

• combine different node machines from discrete data centers. This could be due to several factors, such as the requirements of the network, the desired security level, available capacity at data centers, and unpredictable hardware failures.

• 合并不同的数据中心的不同节点机器。这可能是多种因素造成的，如网络的要求、所需的安全级别、数据中心的可用容量，以及不可预测的硬件故障。

• configure economic parameters that control how much must be paid by users for compute capacity.

• 设置经济参数，来决定用户需要为算力（服务）支付的费用。

• protect the network from malicious actors.

• 保护网络免受恶意行为者的影响。

The robustness of the subnets can be improved by adding new nodes to them over time. These nodes collaborate using the ICP blockchain computer protocols to replicate the data and computations pertaining to the software canisters that they host. The protocol can replace faulty or uncommunicative nodes with new ones, and can also revive entire subnets if too many of the nodes within have failed. This allows the ICP to seamlessly fix network bugs and update for new features.

随着时间推移，通过增加新节点的数量，能够提高子网的稳健型（安全）。这些节点使用 ICP 区块链计算机协议实现彼此的协作，（通过该协议）来复制 与节点托管的软件canister相关的 数据和计算。该协议可以用新的节点替换故障或无法通信的节点，如果其中太多节点发生故障，还可以恢复整个子网（重启？）。 这允许 ICP 无缝修复网络错误，和通过更新来实现新功能。

The NNS has two important canisters: (1) a registry canister, which stores the configuration of the entire IC for everyone to see, and (2) a governance canister, which stores proposals and neurons, to determine who is allowed to participate in governance. We will cover more about this role under the Governance section below

NNS 有两种重要的容器：（1）「注册容器」，存储整个 IC 的配置供所有人查看；（2）治理容器，存储提案和神经元，以确定允许谁参与治理 。我们将在下面的「治理」部分中详细介绍这部分。

Speed

At genesis, the IC will have a block rate of one block per second (bps), then move up to ~1,000bps by this year-end. According to Williams, there is theoretically no upper limit to blocks per second. This is difficult to comprehend from a traditional blockchain perspective but is achieved through Chain Key Technology (CKT).

在创世时，IC 的出块速率是每秒一个区块 (bps)，然后到今年年底（2021年底）提高到 1,000bps。 根据威廉姆斯的说法，理论上每秒块数没有上限。 这（无上限的bps）从传统的区块链角度难以理解，但这能通过链密钥技术（CKT）实现。

CKT allows the IC to finalize transactions and update data in a couple of seconds. It consists of a set of cryptographic protocols that orchestrate the nodes, enabling the IC to have a single public key. This means any device can rapidly verify the authenticity of data on the IC. Chain Key Technology allows canisters (likened to an advanced smart contract) to all any canister hosted on any subnet (likened to a blockchain). This distributed model doesn’t use a hub, unlike Polkadot’s hub-and-spoke model. The IC hopes to bring service composability. In the open version of the Facebook example, and any other app would have permission to call “Open Facebook” for code or data such as games or photo filters.

CKT 技术能使 IC 在几秒钟内完成交易（事务）并更新数据。CKT由一组编排节点的密码协议组成，使 IC 能够拥有一个单独的公钥。这意味着任何设备都可以快速验证 IC 上数据的真实性。 链密钥技术允许容器（相当于高级的智能合约）托管在任何子网（比作区块链）上的所有容器。（应该指容器之间的交互？） 与 Polkadot 的中心辐射模型不同，这种分布式模型不使用中心枢纽。IC 希望带来服务的可组合性。 在 Facebook示例的开源版本中，任何其他应用程序都有权调用“Open Facebook”来获取代码或数据，例如游戏或拍照滤镜。（可以调用数据+使用其他app的功能—体现可组合性）

The IC can host any number of canister smart contracts, meaning that data is fully on-chain. To overcome scaling issues, the ICP executes a potentially large number of canisters simultaneously. This means that the blockchain is sharded by default. However, sharded blockchains don’t communicate with each other in real-time.

IC 可以托管任意数量的罐式智能合约，就是说数据完全在链上。 为了解决扩容问题，ICP有能力同时执行大量的容器。 这意味着这条区块链默认是碎片化的（分片？）。 然而，碎片化的区块链之间并不实时相互通信。

Canisters can support requests for updates, which are limited by the blockchain’s throughput but should only take a couple of seconds. However, this is distinct from queries, which don’t persist changes and are discarded after they run. A canister can serve hundreds of queries concurrently. These are inexpensive and should complete in a few milliseconds, allowing users to have the user experience they’re familiar with on traditional internet.

容器能被（用户）请求进行「更新」，这些请求受到区块链吞吐量的限制，但应该只需要几秒钟。但是，要求更新和「查询」是不同的，查询不会保留修改，而是会在运行后被丢弃（修改的行为）一个容器可以同时处理数百个查询行为。「更新」和「查询」很便宜，并且应该能在几毫秒内完成，这样能让用户得到他们熟悉的 传统互联网的用户体验。

For example, Dscvr.one is the IC’s version of Reddit. When a user browses the forum, customized views of the content would be delivered in their web browser by query calls, which run in milliseconds on a nearby node. However, if a user wants to write a post or tip an author, it would involve an update call, which takes a couple of seconds. In the future, this delay could be hidden by “optimistic execution” -- which first optimistically assumes the payment is valid and will work, and later can be contested and reversed.

以Dscvr.one 为例，它是IC版的Reddit 。当用户浏览论坛时，通过「查询指令」能在用户的浏览器上，给用户提供定制化的内容视图，「查询指令」在附近的节点上，以毫秒为单位运行。与此不同的是，如果用户想要写一篇文本或者打赏一个作者，这就需要引入「更新指令」，这需要几秒的时间。将来，这样的延迟（几秒钟）可能被“乐观执行”所掩盖（解决），“乐观执行”首先会假设支付都是有效且会生效的，不过之后是可以挑战和撤销（乐观执行）的。

Consensus

共识

Given the ICP brings together different machines around the world, each machine (or replicas) must reach consensus on which inputs to include and in what sequence. This ensures that the system maintains a coherent state. Every software is executed and replicated by many node machines worldwide and the majority of the nodes together define the true state of the software. This means that outliers, or machines that report a tampered state, will not make a difference to the consensus.

鉴于 ICP 将世界各地的不同机器聚集在一块，每台机器（或副本）必须达成一种共识，即哪些（数据）输入可以被包含（认可）、和以什么顺序被包含。共识确保了系统保持一致的状态。 每个软件都由全球各地许多的节点机器执行和复制，大多数节点共同决定了软件的真的状态。这也就是说，异常值 或 报告篡改状态的机器 不会对共识产生影响。

Each subnet has a unique and permanent public verification key over its lifetime. The nodes in the subnet will need to be in agreement (by reaching a certain threshold) and collaborate to sign a message, so the subnet can create a signature on behalf of its canisters. While a sufficient number of nodes is required for this threshold to be reached, not all nodes need to agree -- leaving room for hardware malfunctions or malicious nodes.

每个子网在生命周期内，都有一个唯一且永久的公共验证密钥（即公钥是静态的固定的，方便验证）。子网内的众多节点，需要达成一致（通过达到某个最低临界值实现）（比如节点集内有4个节点，3个要求签署，达到临界值了就能签发了）来一起签署信息，这样子网才能代表其容器创建签名。（即多节点要一起认可、愿意签发这个信息，就实现了共识和一定去中心化）尽管需要足够多的节点来达到这个最低临界值，也不是所有节点都需要同意- -这就为硬件故障、恶意节点的情况留有余地（即临界值是弹性的，如果恶意节点、硬件故障的情况出现，就可以适当降低临界值，来让共识能够实现，而不是陷入停滞）。

Noninteractive Distributed Key Generation

非交互式分布式密钥生成

On the IC, the set of nodes that run a subnet will evolve as nodes can join or exit their respective subnets. With nodes in flux, it means the group of threshold signers evolve over time, hindering the ability for nodes to register and distribute new public keys. As a solution, Dfinity introduced the Noninteractive Distributed Key Generation (NI-DKG) -- simplifying key management by always referencing the same subnet by a static public key.

在 IC 上，随着节点加入或退出各自的子网，运行子网的节点集会不断演变、发展。（因此），随着节点的不断变化，临界值签名者（即节点）会随着时间的推移而变化，从而阻碍了节点的注册、分发新公钥的能力。 （？不是说）作为一种解决方案，Dfinity 引入了非交互式分布式密钥生成 (NI-DKG)——来简化密钥管理，即始终 用静态的公钥来引用同一子网 。

NI-DKG provides proactive security. This key resharing protocol is ideal for an asynchronous environment -- enabling fast block times and unlimited scalability. Each of the old signers only need to broadcast a single message to new signers. To ensure security, many concepts are utilized -- including noninteractive zero-knowledge proofs and encryption with forward secrecy.

NI-DKG 提供主动安全。 这种密钥的「二次传递」（reshare）协议非常适合异步环境——能实现快速出块和无限的扩容性。 每个旧签名者只需要向新签名者广播一条消息。 为了确保安全，使用了许多概念——包括非交互式零知识证明和前向保密加密。

There are actually two native tokens that are involved -- ICP is the native governance token that is used to manage the network and Cycles is a stablecoin used to fuel computation.

ICP tokens can do three major functions -- two are inflationary while one is deflationary.

实际存在2种原生代币- -ICP是原生治理代币，用于管理网络；Cycles是用于实现（燃烧）计算的稳定币。

ICP代币主要有3个功能- - 其中2个个是通胀的，1个是通缩的。

Facilitating Network Governance (Inflationary)

实现网络治理（通胀机制）

ICP tokens can be locked inside the NNS, the algorithmic protocol governance system that manages the network, to be used to create neurons, which can vote on proposals. A neuron locks a balance of ICP utility tokens and enables its owner to participate in network governance, thus earning voting rewards. Those rewards are also paid in ICP. Each month, the NNS tracks the proportion of votes a neuron participates in to pay a pro-rata share of the reward. To maximize participation and thus rewards, it’s possible for users to delegate votes to other trusted neurons.Converting out of neurons to withdraw ICP isn’t instantaneous and takes a “dissolving” period. Users can set the duration of the dissolve delay. The longer the dissolve delay, the greater the neuron voting power and the greater the voting rewards. This is similar to Curve Finance, where longer (irreversible) lock-ups up to four years boost voting power to align stakeholders with the long-term success of the network.

Dissolve delays can be increased but can’t be decreased. To start the unlock countdown, users can put the neuron into dissolve mode. Currently, to participate in voting, the dissolve delay must be set up between six months and eight years.Another way for neurons to increase voting power and rewards is to grow older, measured by the time elapsed since it was last placed in dissolve mode. The 370 early token investors in the seed round, therefore, have a head start. They can choose to turn up the dial for a longer dissolve period to take advantage of the high pre-existing age, or they can dissolve their neurons to get their ICP tokens.

ICP可以锁仓在NNS系统内（NNS是实现网络管理的 算法协议治理系统），来生成神经元，其可用于投票某些提案。一个神经元锁定了一定余额（？）的ICP效用代币，并让代币所有者有权参与网络治理，因此也产生投票奖励。这些奖励也以ICP的形式发放。（铸造新ICP作为奖励，供应量上升，就会通胀）每个月，NNS 都会跟进、追踪一个神经元参与的投票比例，按这个比例给予奖励。为了最大限度地提高（投票）参与度和获得的奖励，用户可以将投票委托给其他受信任的神经元。神经元转换回 ICP 不是即时完成的，需要一个“溶解”期。用户可以设置「溶解延迟」的持续时间。 溶解延迟越长，神经元投票权越大，投票奖励也越大。这与 Curve Finance 类似，最长的（不可逆的、撤销的）锁定期长达四年，其可提高投票权，（锁仓）从而使质押者与网络的长期成功进行（利益）绑定。溶解延迟可以增加但不能减少。 要开始倒计时解锁，用户需要将神经元置于溶解模式。 目前，要参与投票，溶解延迟必须设置在 6 个月到 8 年之间。另一种让神经元增加投票权和奖励的方法是「变老」，「变老」以自上次置于溶解模式以来经过的时间来衡量。（离上一次设置过溶解越远，投票权越大）因此，种子轮中的 370 名早期投资者具有优势。 他们可以调高刻度盘（指设置溶解时间的一个操作界面）来延长溶解时间，来利用之前的时间积累优势；他们也可以溶解他们的神经元以获得他们的 ICP代币。

Rewarding Participation (Inflationary)

激励参与者（预期通胀）

The network mints new ICP tokens to reward key players. Other than voting rewards for those participating in governance, “compute rewards” are given to those operating the node machines hosting the network. The NNS generates new ICP tokens to reward nodes that are run by data centers and neurons. This rewards scheme is inflationary to supply.

该网络回铸造新的ICP代币来奖励重要的参与者。除了为参与治理的人提供投票奖励外，“计算奖励”给予维护（host）网络的节点机器们。NNS系统铸造新的ICP代币，来奖励神经元和数据中心运行的节点们。从供给（供给和需求的角度）的角度来说，这种奖励计划是通货膨胀的。

Production of Cycles for Compute (Deflationary)

产生用于计算的Cycles（预期通缩）

ICP can be converted into Cycles as fuel for computation by canisters. The exchange rate of ICP-Cycles depends on external markets -- such that burning 1 SDR (an asset created by the IMF containing the USD, EUR, RMB, JPY, and GBP) will always create 1 trillion cycles. Terra also offers a SDR-based stablecoin called TerraSDR but ICP's burn mechanism is a novel stabilizing function. Software canisters must be charged with Cycles, which are burned during the process of computation or memory management. As the amount of computation on the network grows, the demand to burn Cycles increases, and thus more ICP is burned.Unlike Ethereum, users aren’t paying the fees. Developers are pre-charging the canisters with Cycles for a certain amount of compute units. This user experience is similar to how the traditional internet works where developers would be the ones to pay AWS for cloud services. Therefore users don’t need to own ICP tokens to interact with hosted services or even know it’s running on a blockchain.The burning of ICP tokens to convert to Cycles to power computation is deflationary. Essentially, data center and neuron owners exchange ICP tokens with canister owners and managers. Those canister owners and managers convert ICP to Cycles, and those Cycles fuel the canisters to enable them to run.

ICP可以转换为Cycle作为容器进行计算的燃料。ICP兑Cycles的汇率取决于外部市场，例如燃烧 1 SDR（SDR特别提款权是由 IMF 创建的混合了美元、欧元、人民币、日元和英镑的资产）将始终铸造出1 万亿个Cycle。Terra 发行了基于 SDR 的稳定币 TerraSDR，但 ICP 的销毁机制是一种新的稳定机制。网络上的软件容器必须使用 Cycles 来收费，这些 Cycles 会在计算或内存管理过程中被烧毁。随着网络计算量的增长，销毁 Cycles 的需求增加，因此更多的 ICP 会被销毁。与以太坊不同，用户无需支付GAS费。 开发人员需要预先充值一些Cycles到容器，来获得一定数量的计算单元。（提供算力和交费对象）这种用户体验类似于传统互联网的工作方式，例如开发人员需要向 AWS 支付云服务费用。因此，用户不需要拥有 ICP 代币来与托管服务（如应用程序）交互，甚至不需要知道它是在区块链上运行的。燃烧 ICP 代币以转换为 Cycles来进行计算，（这个过程）是通货紧缩的。从本质上看，数据中心、神经元所有者 与 容器所有者、管理者 之间交换 ICP 代币。容器所有者和容器管理者将 ICP 转换为 Cycles，用这些 Cycles 为容器提供燃料，以使容器能够运行。

To avoid high gas fees, Cycles is a stablecoin to ensure that the cost of computation doesn’t fluctuate with the value of ICP. Firstly, the conversion mechanism of 1T cycles in exchange for 1 SDR worth of ICP. Secondly, if there’s a surplus of Cycles, users don’t need to convert their ICP and can first purchase the undervalued Cycles on the market, to be burned for fuel as computation. Eventually, when all the surplus Cycles are burned, the value will return to its peg. Only when the equilibrium is re-balanced will users again burn their ICP for Cycles. After iterations of algorithmic stablecoins and collateralized stablecoins, Dfinity offers a new method to produce a stable value.

为了避免高昂的gas费，Cycles是一种稳定币，（价值是稳定的）以确保计算成本不会随着ICP的价值而波动。（Cycles具体的锚定其价值的机制如下）第一，是 1万亿Cycles换取价值 1SDR的ICP 的转换机制。第二，如果 Cycles 过剩，用户无需转换 ICP（来获得Cycles），可以在市场上购买被低估的Cycles，作为进行计算的燃料。 最终，当所有剩余的 Cycles 都被燃烧，价值将回到它的锚点。（即算力的需求存在，最终会导致供给过度走向供给、需求的平衡）。只有当平衡重新实现时（Cycles价格回归），用户才会再次燃烧他们的 ICP来兑换Cycles。经过算法稳定币和抵押稳定币的迭代，Dfinity 提供了一种产生稳定价值的新方法。（应该指是通过网络上进行复杂运算、存储的刚需，来实现这个稳定币的循环机制）

To further keep gas fees low and scale infinitely, CKT is applied. The IC can -- with sufficient security and resilience -- replicate computation and data (that is not governance-related) across as few as seven node machines given they’re from seven independent data centers. Therefore, even though canister memory on the IC might be relatively expensive at $5 per GB per annum, the framework ensures the efficient application of that memory. This is relatively cheap if we compare it to other blockchains. As a comparison, a June 2017 report estimated that if a user tried to indefinitely store and send data on Ethereum, the cost would cost $4.7 million per GB. That said, blockchains like Ethereum are not specifically designed for storing large quantities of data, such as images, videos, and audio.

CKT被应用于此，来进一步维持低gas费和进行无限扩容。 IC 具有足够的安全性和韧性（从危机、困难中快速恢复的能力），IC能够在少至七台节点机器上复制计算和数据（与治理无关），因为它们（节点）来自七个独立的数据中心。 因此，尽管 IC 上的「容器内存」可能相对昂贵，每年每 GB 5 美元，但该框架能确保有效率地使用容器内存。 如果我们把IC与其他区块链进行比较，这（内存价格）是相对便宜的。 作为对比，2017 年 6 月的一份报告估算，如果用户打算无限期地在以太坊上存储和发送数据，每 GB 的成本将达到 470 万美元。也就是说，像以太坊这样的区块链并不是专门为存储大量数据而设计的，例如图像、视频和音频。

The use of Cycles extends to the application layer. Thus natural buyers for the ICP tokens include those who want to participate in network governance and developers who need to convert ICP into Cycles to pay for computation. Eventually, open internet services will be built from autonomous code that’s managed by open tokenized governance systems, which functions similarly to the NNS. Also, every canister can create its own token if it wishes, hold any amount, and send tokens to other canisters as part of function calls (queries or updates). The intention is that each internet service would have its own governance token, used for voting and potentially receive a distribution of the value created by the autonomous system. Each governance system would have its own decentralized financial exchange with a governance token that can be traded for Cycles.

对Cycles 的使用扩展到了应用层。因此 ICP 代币的自然购买者包括（2种）：那些想要参与网络治理的人 和 需要将 ICP 转换为 Cycles 以支付计算费用的开发者。 最终，开放的互联网服务将由 开放的代币化治理系统管理下的自治代码构建（代币化的治理结构+基于此的代码=开放的互联网），其功能类似于 NNS。此外，每个容器都可以根据需要创建自己的代币，持有任意数量的代币，并将代币作为功能要求（查询或更新）的一部分发送到其他容器（应该指用自己的治理代币来支付transaction？）。这样的目的是让每个互联网服务都有自己的治理代币，用于投票 以及 有可能得到自治系统创造的价值（应该指协议的价值提升，那么其治理代币的价值也提升了）。每个治理体系（每一种开放的互联网服务）都将拥有自己的去中心化交易所，其中有可以兑换成Cycles 的治理代币。

When Dfinity Foundation was first formed, 9.5% of tokens were was distributed to early contributors while the rest remained. On May 10, in a final decentralization step, a “Genesis Unlock” proposal will trigger the NNS to release the ICP utility tokens. This means thousands of token holders will create "voting neurons'' that control the NNS and thus the entire network.

在 Dfinity 基金会成立之初，9.5% 的代币分配给了早期贡献者，其余的保留。 5 月 10 日，在进行去中心化的最终一步中，“创世解锁”提案将触发 NNS 释放 ICP 效用代币。 这意味着成千上万的代币持有者将创建“能投票的神经元”来控制 NNS，从而控制整个网络。

While the unlocking schedule is publicly known for strategic investors and private sales, the number of tokens unlocked from the Internet Computer Association, team members, advisors, early contributors, and the Foundation is unknown.

虽然战略轮投资者、私下销售轮的代币解锁时间表是公开的，但是互联网计算机协会、团队成员、顾问、早期贡献者和基金会解锁的（ICP）代币数量尚不清楚。

Due to the governance mechanism and rewards for participation, it’s likely that a majority of tokens will be locked. The amount locked will depend on two factors:

由于治理机制和参与奖励，很可能大部分代币将被锁定。 锁定的（代币）数量取决于两个因素：

Governance and Rewards

（治理和激励；即投票+维护网络）

The ecosystem will find a natural balance of how many rewards are required to achieve an optimum amount of participation. Assuming that Dfinity wants 90% of the token supply to be locked in neurons, rewards should be sufficient to meet this target. For a fixed amount of rewards, fewer participants mean more rewards-per-participant, which should invite more participation (and thus locking of ICP tokens).Initially, rewards will need to be much higher as risks and uncertainty surrounding the network are greater. However, as the network stabilizes, rewards can fall over time to reflect lower risks. Based on estimates of the required returns as a percentage of the current supply, Dfinity will begin by distributing 10% of supply each year, with the amount reducing to 5% in eight years to reflect lower risk and thus required rewards.

（IC的）生态系统未来会找到一种自然的平衡——即需要多少奖励来实现最佳参与量。假设（以下都是设定的条件）Dfinity希望占90%流通量的代币锁定在神经元中，就需要足够的奖励来实现这样的目标。（比如）对于固定量的奖励，更少的参与者意味着单个参与者更高的奖励，这样就会驱使更多参与（也会驱使更多ICP代币进行锁定）。最初（阶段），因为围绕网络的风险和不确定性更大，回报需要更高。 然而，随着网络的（逐渐）稳定，回报可能会随着时间的推移而下降，这也体现了较低的风险。基于 收益占当前供应量百分比的估算，Dfinity 一开始将分配 10% 供应量（的代币），然后在八年内减少到 5%，来体现较低的风险和收益。

Curve Finance has a similar mechanism, with a maximum lockup period of four years. As of the time of writing, 49.5% of all circulating CRV is vote-locked for an average of 3.7 years. If ICP were to follow that benchmark, we can expect half of circulating tokens to be vote-locked for nearly eight years.

Curve Finance 有类似的机制，该机制的最长锁定期为四年。 截至撰写本文时，在所有流通的 CRV 中有 49.5% 的（CRV）作为投票用而锁定，（这些CRV）的（锁定时间）平均为 3.7 年。 如果 ICP 遵循该基准，我们可以预期一半的流通代币将被锁定近八年。

Pre-Payment

预付款机制

ICP is required to pre-charge canisters with Cycles to enable them to function for a certain amount of computing. This is similar to Filecoin, where clients lock up sufficient funds to cover the full cost of the storage agreement.

ICP 需要预充值Cycles到容器，来使容器能够进行一定量的计算。 这类似于 Filecoin，客户锁定足够的资金来支付存储协议的全部成本。

Based on the IOU markets at FTX the token price is at $180. At FTX’s ICP-PERP price, the circulating market cap is $22 billion while the fully diluted market cap is $85 billion. This is lower than the prices reached last week on Hoo and MXC in the range of $350 to $530 in the past days. The public’s anticipation of the launch of the IC has pushed IOU prices to all-time highs of up to 30x at the peak so far this year.

根据 FTX 的 IOU 市场，代币价格为 180 美元。 以 FTX 的 ICP-PERP（永续ICP合约）价格计算，（ICP）的流通市值为 220 亿美元，而完全稀释后的市值为 850 亿美元（完全稀释市值是指现流通市值+未来流通量的总供应量）。这低于上周 Hoo 和 MXC（交易所） 上的价格，过去几天内（ICP价格） 在350 美元至 530 美元之间。 公众对 IC 上线的期待，已将 IOU 价格推至今年迄今为止，最高时期 30 倍的历史新高价位。

This would rank ICP at sixth place by fully diluted market cap. Major exchanges are paying attention. On May 4, 2021, Coinbase Pro announced it would list ICP at launch. Huobi, FTX will also be launching ICP. Very likely, all the major exchanges will follow.

按完全稀释市值计算，ICP会排在第六名。主流交易所持续关注中。2021年5月4日，Coinbase Pro宣布将在ICP上线时上架ICP交易。HUOBI、FTX也将上线ICP。所主流交易所都很可能跟进（上线ICP）。

Going forward, ICP has an undefined supply schedule because there are deflationary and inflationary pressures. Deflationary pressures will depend on the computation being contributed to the platform, which depends on the activity in their ecosystem. Inflationary pressures are based on voting and participation rewards. Furthermore, to participate in the network, tokens are locked in neurons. Therefore, those tokens are not liquid and able to be freely transferred to others.

今后，ICP的供应量明细表是不确定的，因为代币（同时）存在通缩和通胀的压力。通缩压力将取决于平台被分配的计算，而计算取决于其生态的活动。通胀压力基于投票和参与奖励。进一步说，为了参与网络，代币要被锁定在神经元里。因此，这些代币不是流动的，不能自由转给其他人。

Dfinity intends the Internet Computer to run like a digital government. The NNS governance system is responsible for a variety of things, including managing voting, the tokenomics, and the data centers. It also monitors the node machines, looking for statistical deviations that could indicate faulty behavior. While the NNS is an open governance system, it permits participation in the network. A potential node provider can apply for a Data Center ID to the NNS. Upon approval, the node provider can procure specialized machine nodes, install the ICP protocol and then connect to the IC network.

Dfinity打算让IC像电子政府一样运行。NNS治理系统负责各种事务，包括管理投票、代币经济和数据中心。它还监督节点机器，寻找能够指出「故障性能」的统计偏差。同时NNS是一个开放的治理系统，它允许参与网络。一个潜在的节点提供商可以向NNS申请，从而得到数据中心ID。获得批准后，节点提供商可以采购专用机器节点，安装ICP协议，然后连接到IC网络。

Anyone in the network can lock ICP to create a neuron to submit a proposal to the NNS, which operates like a decentralized autonomous organization (DAO): network participants cast votes, and the final decision is executed automatically by the network itself. Proposals can either be adopted or rejected immediately or after a time delay, depending on how the totality of neurons votes. To avoid users spamming the NNS with proposals, a fee levied on the neuron that submits a rejected proposal. Therefore, the user’s neuron (with ICP tokens locked) will be penalized.

网络中的任何人都可以锁定ICP，来创建一个神经元，向NNS提交提案，（这样来看）NNS就像一个去中心化的自治组织（DAO）一样运作：网络的参与者投票，最终决定由网络自身自动执行。提案可以立即通过或拒绝，也可以延迟一段时间后（通过或拒绝），这取决于所有神经元的投票方式。为了避免用户向NNS提交垃圾提案，神经元提交的议案被拒绝后神经元会被收取一笔费用。因此，用户的神经元（相应锁定着ICP）将受到惩罚。

Uniquely, the NNS enables participants to set their preferences prior to voting on a proposal, so issuing a vote is no longer a manual process. As mentioned above, votes are then cast by users through "neurons" or can be delegated to other trusted parties.

独特的是，NNS使参与者能够在对提案进行投票之前设置自己的偏好，因此进行投票不再是手动的。就如上面所说，投票由用户通过“神经元”执行，或者可以委托给其他受信任方（进行投票）。

The digital government also has a meta-governance mechanism, where the NNS also has the authority to change the code on subnets -- controlling all the apps supported in the ecosystem. On one hand, this means that subnets aren’t censorship-resistant and will be under the purview of the community. Thus, the community decides what is desirable and what isn’t. This is similar to traditional internet where the App Store can choose to remove a certain app, or a search engine can decide which websites are ranked more relevant than others.

这个电子政府还有一个元治理（or超治理）机制，基于这个机制NNS也有权更改子网上的代码- -即控制着生态中支持的所有应用程序。一方面，这意味着子网无法免于审查，而且会受社区的权限范围内的影响。因此，社区决定什么是可取的，什么是不可取的。这类似于传统互联网，应用商店可以选择删除某个应用；或者搜索引擎可以决定哪些网站的排名比其他网站更相关。

The concept of meta-governance is relatively new. What this implies for Dfinity’s ecosystem is uncertain. In the future, if there are different factions, it’s conceivable that the community could appease all sides (to avoid forking) by voting that several discrete ecosystems are possible. For example, in the traditional internet, Youtube has an adult and children’s ecosystem depending on what the desired user experience is. As with other Layer-1s, the risk of forking rewards diminishes as the layer becomes more mature and secure with higher values locked.

元治理的概念相对较新。 这对 Dfinity 的生态系统意味着什么尚不确定。 将来，如果有不同的派别，可以想象社区可以通过投票来安抚各方（避免分叉），这样就让几个离散的生态成为可能。 例如，在传统互联网中，Youtube 有一个成人和儿童的生态系统，这取决于用户所需要的体验是什么。 与其他 1 层公链一样，随着该层变得更加成熟和安全，并锁定更高的价值，通过分叉获益的风险会降低（即分叉可能性降低）。

The IC can be used to build a variety of new products. For example, it can build tokenized internet services, DeFi systems, enterprise systems, and websites. The IC is also introducing an “Internet Identity”, in which managers user data without usernames, passwords, or cryptographic keys. The internet ID can be used to log in to apps, under the cryptographic security of Chain Key Technology. This means that users aren’t tracked with Cookies across websites and services, and managing privacy could be easier.

IC可用于构建各种新产品。 例如，IC可以构建代币化的互联网服务、DeFi 系统、企业系统和网站。 IC 还引入了“互联网身份”，可以在其中管理用户的数据而无需用户名、密码或加密密钥。 在「链密钥」技术的加密安全下，互联网 ID 可用于登录应用程序。 这意味着用户不会被网站和服务上的 Cookie 追踪，并且这样管理隐私更容易。

Dfinity hopes to see open versions of Whatsapp, TikTok, Facebook, built using less than a thousand lines of code and capable of supporting millions of users. Currently, there are several apps in the IC ecosystem:

Dfinity 希望看到 Whatsapp、TikTok、Facebook 的开源版本，（这些开源版本的应用）使用不到一千行代码就能构建，并能够支持数百万用户。 目前，IC生态系统中有几个应用程序：

Infrastructure

基础架构部分

• Fleek: makes it easy to create websites and applications on the open internet. All their products are built on the underlying protocols that power Web3, such as the Internet Computer, IPFS, Filecoin, and Ethereum. It raised $4 million to build a base layer of products mimicking traditional web infrastructure that any app or site would need like hosting, storage, databases, authentication, and serverless functions. It also supports Ethereum Naming Service (ENS) and Handshake’s decentralized domain name service (HNS). Already, 14,000 websites are running on Fleek

• Fleek：Fleek使在开放的互联网上，创建网站和应用程序变得容易。 他们所有的产品都建立在支持 Web3 的底层协议之上，例如 Internet Computer、IPFS、Filecoin 和 Ethereum。 它筹集了 400 万美元，用于构建模仿传统网络基础设施 的产品的基础层，任何应用程序或网站都需要这些基础设施，例如托管、存储、数据库、验证和无服务器功能（一种云服务，开发者不需要费心基础设施，只要关注程序的业务逻辑）。 Fleek还支持以太坊域名服务（ENS）和「Handshake」的去中心化域名服务（HNS）。 已经有 14,000 个网站在 Fleek 上运行

• Dfinity Explorer: is an open-sourced, community-built dashboard for the IC.

• Dfinity Explorer：是一个开源的、社区构建的 IC 仪表板。

Decentralized Apps

• Origyn: is a pan-industry platform for tracking the provenance of luxury goods, starting with luxury watches

• Origyn：是一个对奢侈品溯源的泛行业平台，先从奢侈手表开始。

Decentralized Finance

• Enso Finance: is a decentralized exchange that has raised $5 million in a private funding round last month in Apr-2021. The round was led by Polychain, Dfinity, Multicoin, Spartan, and several other companies

• Enso Finance：是一家去中心化交易所，在上个月即2021 年 4 月的一轮私人融资中筹集了 500 万美元。 该轮融资由 Polychain、Dfinity、Multicoin、Spartan 和其他几家公司领头

• Tacen: is a high-performance, decentralized non-custodial exchange that has raised $2.3 million

• Tacen：是一家高性能、去中心化的非托管交易所，已筹集了 230 万美元

• DfiStarter: is the first IDO platform on ICP, providing fundraising services, public relations, and marketing, in addition to tech support for projects planning to develop on the IC

• DfiStarter：是第一个 ICP 上的 IDO（首次去中心化交易所募股）平台，除了为计划在 IC 上进行开发的项目提供技术支持外，还提供筹款服务、公共关系和营销服务

• SailFish: is a gateway to open financial services. It’s a decentralized exchange with a social component

• SailFish：是开放金融服务的门户。 这是一个带有社交元素的去中心化交易所

Social

社交

• Distrikt: is a decentralized, professional social media network. It is the Open LinkedIn application shown off by DFINITY in Davos at WEF 2020 that is now being taken to market. They raised $500,000 in initial funding. Users can control their self-sovereign identity and govern the community.

• Distrikt：是一个去中心化的专业社交媒体网络。 这正是 DFINITY 在 2020 的达沃斯世界经济论坛中展示的公开版的「领英」 应用程序，并且该应用正在推向市场。 他们筹集了 500,000 美元的初始资金。 用户可以控制他们的自我主权身份并治理社区。

• OpenChat: is the IC’s response to Whatsapp -- an open version of your standard chat app that is not owned by a large tech corporation. It’s a decentralized chat app built on the Internet Computer, with encrypted communication software.

• 是 IC 对 Whatsapp 的回应——一个不归大型科技公司所有的 标准聊天应用程序的开放版本。 它是一个建立在IC上的去中心化聊天应用程序，带有加密的通信软件。

• CanCan: is a decentralized video-sharing app. It’s essentially an open and tokenized version of TikTok, running on the Internet Computer and accessible through any browser or mobile device. It shows the scalability and power of the Internet Computer

• CanCan:是一个去中心化的视频分享应用。 它本质上来说，是 TikTok 的开放和代币化的版本，运行在互联网计算机上，可通过任何浏览器或移动设备访问。 它显示了 Internet 计算机的扩容性和力量

• Capsule Social: is a decentralized social media platform that is censorship-resistant. The company raised $1.5 million from Polychain Capital’s Beacon Fund, valuing it at $10 million. It also has early backing from Balaji Srinivasan, former CTO of Coinbase

• Capsule Social：是一个去中心化的社交媒体平台，具有抗审查性。 该公司从 Polychain Capital 的 Beacon Fund 筹集了 150 万美元，估值为 1000 万美元。 它还得到了 Coinbase 前首席技术官 Balaji Srinivasan 的早期支持

• Canistore: is a decentralized media service provider supporting video, music, and text. It fashions itself as a next-generation social store, allowing users to create and share content without worrying about platform risks, such as changes in algorithms that affect ratings and followings. Users can earn rewards for being active, earn royalties on content distribution and also participate in governance.

• Canistore：是一个支持视频、音乐和文本的去中心化媒体服务提供商。 它将自己打造为下一代社交商店，允许用户创建和共享内容，而无需担心平台风险，例如（平台）修改算法会影响 评分 和 关注度。 用户可以通过活跃获得奖励，获得内容分发的版税，还可以参与治理。

• Dscvr.one: is the IC’s answer to Reddit, with a custom governance function that manages future developments and content review

• Dscvr.one：是 IC 对 Reddit 的回应，其具有 管理未来发展和内容审查的自定义治理功能

The sensitivity of ICP pricing at genesis is below and can be updated in our spreadsheet here. The higher the amount locked, the lower the circulating supply, the more favorable price action is.

创世时 ICP 定价的「灵敏度」如下，我们的电子表格中会更新。 锁定的数量越高，流通量越少，价格就越好。

Since the protocol and its ecosystem is still new, it’s difficult to justify a fair valuation for ICP. Data started as of March 24, 2021, and there are approximately 120,000 messages daily, which is the equivalent of transactions.

由于该协议及其生态系统仍然较新，因此很难得出合理的ICP估值。 数据从 2021 年 3 月 24 日开始，每天大约有 120,000 条消息，消息相当于交易量（事务量）。

However, if we were to compare the value of the protocol compared to the value of the ecosystem, we can start by looking at Terra (LUNA) and Polkadot (DOT). Similar to ICP, Terra has non-token projects such as the Chia, MemePay, PayWithTerra, BuzLink and Kash. Polkadot is similar in that the network is live but projects in the ecosystem projects have not launched on top of it and do not have floating prices because parachain auctions have not started.

但是（虽然难以合理估值），如果我们要将协议的价值与生态的价值进行比较，我们可以从 Terra (LUNA) 和 波卡 (DOT) 开始。 与 ICP 类似，Terra 也有 Chia、MemePay、PayWithTerra、BuzLink 和 Kash 等没有发代币的项目。波卡（与ICP）的相似之处在于，其网络处在运行当中，但生态中的项目尚未在波卡上启动；因为平行链拍卖尚未开始，（项目都）没有浮动价格。

If we look at the Ecosystem Value / Layer Value (see table below), the value of ERC-20 tokens is greater than the value of Ether. At the low-end, we have LUNA where the ecosystem’s value is 14% of LUNA’s circulating market cap. If we assume that ICP’s ecosystem value to layer value is 14% (in-line with LUNA), then we would expect that ICP’s valuation expects that the ecosystem would be worth $3 billion. As a comparison, the known amount of fundraising among ecosystem apps is ~$10 million, implying that ICP is priced above peers.

让我们看看生态系统价值/层价值（见下表），ERC-20 代币的价值大于以太坊的（代币）价值。在最低端项（表格中最廉价的项目）上，我们有 LUNA，其生态的价值是 LUNA 流通市值的 14%。 如果我们假设 ICP 的生态价值与层价值的比率为 14%（与 LUNA 一致），那么我们预计 ICP 生态价值 为30 亿美元。作为对比，（IC）生态中应用程序的已知筹款金额约为 1000 万美元，这意味着 ICP 的定价（估值）会高于竞争者。

Dfinity would perhaps argue that, because the addressable market is larger, it justifies a higher valuation. ICP is trying to replace legacy IT such as Google, Oracle and AWS. The opportunity in the Cloud market alone could be $1 trillion:

Dfinity 可能会据理力争说明（项目价值会高于当前的估值结果），因为（项目）潜在市场更大，这就能合理化更高的估值。 ICP 正试图取代 Google、Oracle 和 AWS 等传统 IT。 单单云市场的机会就可能达到 1 万亿美元：

Dfinity will immediately be catapulted into the top ten largest assets. The largest risk to price is that the protocol is not battle-hardened. The code was only be open-sourced today and waited to be open to scrutiny until after the launch. In Dfinity’s defense, their code is a trade secret to limit forking and competition. Dfinity’s competition is not only in the crypto-sphere but extends to traditional internet.

Dfinity 即将跻身前十大资产之列。 （但）价格面临的最大风险是该协议不是久经考验的。 该代码今天才开源，并且要等到正式上线后才接受详细审查。 Dfinity 辩称，他们的代码是限制分叉和竞争的商业机密。 Dfinity 的竞争不仅在加密领域，还延伸到传统互联网。

Their low trading volume pre-listing is another consideration. FTX’s pricing is about half of that seen on Hoo and MXC just days ago. Furthermore, potentially high inflation rate is another consideration. Along with DOT, FIL and CAKE have lower circulating supply, and therefore higher inflation in the next several years, ICP has one of the lowest circulating supplies. This could put pressure on the price, especially if tokenholders aren’t locking ICP in the ecosystem. The vesting schedule of half its tokens -- including those held by the foundation, team members and other partnerships is also not known at time of writing.

他们在上市之前的低交易量是另一个值得考虑的点。FTX交易所的定价大约是几天前在 Hoo 和 MXC 交易所上价格的一半。与 DOT、FIL 和 CAKE 一样，（这几个项目和ICP）都是（当前）流通供应量较低，而未来几年通胀率较高，（而且当前）ICP 是流通供应量最低的项目之一。（因此）这可能会给价格带来压力，尤其是如果代币持有者没有在生态中锁定 ICP（流通的供应量会更多）。 在撰写本文时，其一半代币的分配时间表 - 包括由基金会、团队成员和其他合作伙伴持有的代币，也是未知的。（应该指可能抛压会很大，或者未来无法很好去预测）

Lastly, Dfinity has raised $120 million from accredited investors and venture capital firms. Projects that have successfully fundraised get a lot of hype. However, there’s a risk that full valuations leave too little upside for the community. Without a robust, committed community, the project could face headwinds at launch. As an offset, Dfinity’s developer community is one of the fastest-growing.

最后，Dfinity 从备受认可的投资者和风险投资公司筹集了 1.2 亿美元。 那些成功筹款的项目们都得到了大肆宣传、炒作。 （因此），充分的估值可能给社区留下太小的上行空间。 如果没有一个强大、忠诚的社区，该项目在启动时可能会面临阻力。 作为（这个问题的）抵消、代偿，Dfinity 的开发者社区是增长最快的社区之一。

平均每月开发者增加 对比

Source: Electric Capital

Finally, Dfinity has ambitious plans and its market cap reflects those ambitions. The Foundation released a 20-year roadmap, where they hope, within five years, to achieve widespread knowledge of what ICP is among entrepreneurs and end-users. Within 10 years, it hopes the IC is on a path to overtake big-tech’s closed proprietary ecosystem, where capital will be redirected away from legacy internet companies to ICP and DeFi will match traditional finance technology. Within 20 years, they hope the ICP will overtake closed, proprietary big-tech ecosystems. Given the short duration since mainnet, it is too early to tell if Dfinity has a sufficiently strong community or execution capabilities to reach these goals. Furthermore, it’s coming relatively late to the Layer-1 game and competition is already intense at this stage.

最后，Dfinity 有雄心勃勃的计划，并且其市值也反映了这些壮志。其基金会发布了一份 20 年路线图，5年内，他们希望让企业家和终端用户普遍了解 ICP 是什么。10 年内，基金会希望IC 逐渐追上科技巨头的那种封闭的独占的生态，在该生态中，资本将从传统的互联网公司转移到 ICP，同时DeFi 将与传统金融技术相匹配。20 年内，他们希望 ICP超过封闭的、独占的大技术（科技巨头们）的生态。 鉴于（ICP）主网上线以来时间很短，现在判断 Dfinity 是否有足够强大的社区或执行能力来实现这些目标还为时过早。 更不用说，（ICP）进入Layer-1 比赛相对较晚，而现阶段的竞争已经很激烈了。

Dfinity has big goals to remake traditional internet. It even wants to run ETH 2.0 inside a canister on the IC. The vision, while grand, will depend on Dfinity’s ability to execute. Currently, there’s a resemblance with Solana, in terms of how IC’s data centers control nodes that process subnet messages or canisters. There’s also a resemblance with Ethereum 2.0, though Ethereum has lately triangulated on DeFi and high-value transactions. Overall, the competition among programmable Layer 1s is intense. Dfinity is the newcomer, offering the world a new paradigm and technology. Dfinity has launched in the heart of the bull run, perhaps putting wind in their sails. However, successfully creating the ultimate world computer is still at play.

Dfinity 有重塑传统互联网的宏伟目标。Dfinity甚至想在IC网络上的容器内，来运行ETH 2.0。这样的愿景尽管宏大，但仍旧取决于Dfinity的执行能力。当前，就 IC 的数据中心 如何控制那些 处理子网消息或容器的节点方面，（ICP）与 Solana 有相似之处。（ICP）和以太坊 2.0 也有相似之处，尽管以太坊最近对 DeFi 和昂贵的交易进行了三角测量（定量和定性结合的分析方法）。 总体而言，可编程的1层协议之间的竞争非常激烈。 Dfinity 是新来者，为世界提供了新的范式和技术。 Dfinity是在牛市中心启动的，也许这算是为帆添风（指人们普遍对ICP项目充满信息与热忱）。 然而，关于最终成功建立终极的世界计算机（的角逐）仍在进行中。

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