DFINITY

A blockchain computer with unlimited capacity, incredible performance and algorithmic governance, shared by the world — Cloud 3.0

About DFINITY

DFINITY is a decentralized network design whose protocols generate a virtual blockchain computer running on top of a peer-to-peer network, and upon which software can operate via smart contracts. DFINITY aims to develop a global, decentralized, smart-contract-based computational cloud with support for private clouds as well. DFINITY is compatible with the EVM? (if a Dapp works on Ethereum, it will work on DFINITY), but introduces new protocols and techniques geared toward performance and scalability, along with a decentralized governance mechanism called the Blockchain Nervous System (for which the EVM has been extended with special privileged instructions). DFN tokens mediate access to the resources of the virtual computer produced by DFINITYs decentralized network protocols. DFN tokens are strictly intended to be participation tokens that enable installing and running smart contract software, the creation of mining identities and BNS “neurons”, and the attachment of private cloud networks to the public DFINITY network.

Token Sale Use of Blockchain

Product

3.8
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

5.0
N/A
5 - Wow.
Target User Base

Is it mass market or niche?

5.0
N/A
5 - General audience / mass market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

5.0
N/A
5 - Highly specialized, proprietary.

Product

Intiva Health’s target user base is comprised of medical professionals. There is a fair number of blockchain-related projects that aim to target the health-care sector. One of the services provided through the Intiva Health platform is ReadyDoc, which allows instantaneous verification of a provider’s work history using Hashgraph. The service allows LMPs and FMGs to easily manage and share their credentials. The GitHub page does not contain any publicly available repositories.

Product Whitepaper

Use of Blockchain

5.0
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

5.0
N/A
5 - Novel blockchain and service.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

5.0
N/A
5 - Fundamentally disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

5.0
N/A
5 - Real, tangible, utility-based value.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

5.0
N/A
5 - Fully decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

5.0
N/A
5 - Wow.

Use of Blockchain

NTVA is an ERC20 compliant token used as a means of exchange and for access to services provided by the platform. The Intiva Health platform will use Hashgraph technology. It is stated that documents will be encrypted and distributed across the node network. Further detail is not provided. The strategy that Intiva Health plans to use with regard to network operation is unclear. The system of governance is also not discussed. Thus, the need to create a custom token (beyond funding purposes) is not clearly discussed.

Use of Blockchain Roadmap

Whitepaper

4.2
Whitepaper
Comprehensiveness

Does it cover the full scope of the problem and solution?

5.0
N/A
5 - All issues addressed coherently.
Readability

Is it easy enough to understand?

3.0
N/A
3 - Readable, takes some time.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

5.0
N/A
5 - Candid openness.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.

Whitepaper

* DFINITY provides a whitepaper on the consensus system, Medium posts about the project and the Blockchain Nervous System, and pitchdeck presentations of the project’s mission and objectives, crypto techniques, decentralized commercial banking, and “How to Achieve Near-Instant Finality inPublic Blockchains using a VRF”.
* The whitepaper provides detailed, highly technical descriptions of the consensus mechanism and protocol, with mathematical / algorithmic models of the system, the probabilistic slot protocol, notarization, finalization, the decentralized random beacon protocol, the signature scheme, scalability (the threshold relay), and security analysis. It is stated that “Dfinity will be introduced in a series of technology overviews, each highlighting an independent innovation in Dfinity such as the consensus backbone, smart contract language, virtual machine, concurrent contract execution model, daemon contracts, peer-to-peer networks and secure broadcast, governance mechanism and scaling techniques. The present document will focus on the consensus backbone and cryptographic randomness.”
* The Medium posts are comprehensive, easy to understand, informative and candid. The company’s history and approach with regard to fundraising and token distribution are also explained in its posts. However, the company does not clearly define plans with regard to driving platform adoption (although this may well be premature for such a highly ambitious and technical project).
* There is also an active Github with 32 repositories and 18 contributors.

Whitepaper Compliance

Roadmap

3.4
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

2.0
N/A
2 - Vague, noncommittal.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

5.0
N/A
5 - Paving the way for the future.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

3.0
N/A
3 - Getting there.

Roadmap

A detailed roadmap is not available, but the FAQ states that:
* “The first three client releases are:
Copper (in progress) – Using the DFINITY “Threshold Relay Chain” system… as a foundation, Copper will finalize computations at least 50X faster than on Ethereum and maximum throughput is expected to be significantly higher. A fully functioning Blockchain Nervous System will ease future protocol upgrades. The client will interact with the network via a dynamically loaded “protocol library” whose hash is specified by the BNS, allowing the BNS to orchestrate minor protocol changes and optimizations on the fly without interrupting users.
Zinc – Software on DFINITY private networks can make atomic calls into software on the public/open DFINITY network.
Tungsten – Building on the randomness created by Threshold Relay, Tungsten introduces DFINITY systems that enable the network to scale out with miners: USCIDs, Validation Towers, Validation Trees and micro-shards (mining computers belong to many shards). The main chain will become a “legacy shard”. Software automatically deployed to new faster shards must adopt an asynchronous message-passing model to interoperate with software on other shards seamlessly. Basic legacy limitations that constrain transactions/computations to a single block will be removed, allowing creation of daemons or other useful new forms of autonomous systems.”
* “Technology components used by the DFINITY project are being released into the public domain for those interested in decentralized technology (for example, software related to a crucial technique known as Threshold Relay is already in the public domain). A beta network created using the “Copper Release” client software is expected towards the end of Q1 2018. The expectation is that the Copper network will launch end Q2 2018.”

Roadmap Company and Team

Compliance

4.0
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

5.0
N/A
5 - Foundational or varied use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

5.0
N/A
5 - Professional, audited.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

5.0
N/A
5 - Professional and top-tier.

Compliance

There is a short disclaimer shown in the whitepaper that spans approximately half a page. It is stated that “the issuance and sale of the Company Shares have not been registered under the Securities Act or any other applicable securities law”. KYC will be used for the token sale. The sector that Intiva Health is targeting has fairly high levels of regulatory friction. However much of the legal considerations presented in the whitepaper pertain to the token sale.

Compliance Token Sale

Company and Team

4.2
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

5.0
N/A
5 - Well established, has raised significant funds.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

4.0
N/A
4 - Fully assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.

Company and Team

The executive team of 4 individuals is listed on the Intiva Health website, along with their profile pictures, job titles and links to social media profiles. There is an additional two-member product development team listed in the whitepaper, but one of these members is listed as an advisor on the website. The LinkedIn profile of the technical lead/advisor shows the individual to be concurrently involved with other projects/organizations, and does not list Intiva Health. Thus, the level of technical expertise and commitment to the project is questionable, especially considering that some of the lead team members are also concurrently involved with other projects/organizations.

Company and Team Product

Token Sale

3.2
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

3.0
N/A
3 - Justifiable.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

3.0
N/A
3 - Justifiable.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

2.0
N/A
2 - Use of funds only loosely defined.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

3.0
N/A
3 - Sufficient company/community interest balance.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

5.0
N/A
5 - Exceptional presence and interest, having credibility.

Token Sale

The total number of NTVA tokens is 1 billion (12% is for the token sale, 12% is for the pre-sale, 35% for the LMP incentive fund, 30% is for the FMG fund, 5.5% is for the reserve fund, 3% is for miscellaneous expenses, and 2.5% is for staff incentives). The allocation of funds is described with moderate detail (35% is for marketing, 20% is for the reserve fund, 15% is for sales, 10% is for development, 10% is for employee incentives and hiring, and 10% is for administrative expenses). The soft cap is unspecified and the hard cap is $12MM USD, where 1 NTVA = $0.50 USD.

Product

Intiva Health’s target user base is comprised of medical professionals. There is a fair number of blockchain-related projects that aim to target the health-care sector. One of the services provided through the Intiva Health platform is ReadyDoc, which allows instantaneous verification of a provider’s work history using Hashgraph. The service allows LMPs and FMGs to easily manage and share their credentials. The GitHub page does not contain any publicly available repositories.

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

5.0
N/A
5 - Wow.
Target User Base

Is it mass market or niche?

5.0
N/A
5 - General audience / mass market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

5.0
N/A
5 - Highly specialized, proprietary.
Product Score:
3.8

Use of Blockchain

NTVA is an ERC20 compliant token used as a means of exchange and for access to services provided by the platform. The Intiva Health platform will use Hashgraph technology. It is stated that documents will be encrypted and distributed across the node network. Further detail is not provided. The strategy that Intiva Health plans to use with regard to network operation is unclear. The system of governance is also not discussed. Thus, the need to create a custom token (beyond funding purposes) is not clearly discussed.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

5.0
N/A
5 - Novel blockchain and service.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

5.0
N/A
5 - Fundamentally disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

5.0
N/A
5 - Real, tangible, utility-based value.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

5.0
N/A
5 - Fully decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

5.0
N/A
5 - Wow.
Use of Blockchain Score:
5.0

Whitepaper

* DFINITY provides a whitepaper on the consensus system, Medium posts about the project and the Blockchain Nervous System, and pitchdeck presentations of the project’s mission and objectives, crypto techniques, decentralized commercial banking, and “How to Achieve Near-Instant Finality inPublic Blockchains using a VRF”.
* The whitepaper provides detailed, highly technical descriptions of the consensus mechanism and protocol, with mathematical / algorithmic models of the system, the probabilistic slot protocol, notarization, finalization, the decentralized random beacon protocol, the signature scheme, scalability (the threshold relay), and security analysis. It is stated that “Dfinity will be introduced in a series of technology overviews, each highlighting an independent innovation in Dfinity such as the consensus backbone, smart contract language, virtual machine, concurrent contract execution model, daemon contracts, peer-to-peer networks and secure broadcast, governance mechanism and scaling techniques. The present document will focus on the consensus backbone and cryptographic randomness.”
* The Medium posts are comprehensive, easy to understand, informative and candid. The company’s history and approach with regard to fundraising and token distribution are also explained in its posts. However, the company does not clearly define plans with regard to driving platform adoption (although this may well be premature for such a highly ambitious and technical project).
* There is also an active Github with 32 repositories and 18 contributors.

Category Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

5.0
N/A
5 - All issues addressed coherently.
Readability

Is it easy enough to understand?

3.0
N/A
3 - Readable, takes some time.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

5.0
N/A
5 - Candid openness.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.
Whitepaper Score:
4.2

Roadmap

A detailed roadmap is not available, but the FAQ states that:
* “The first three client releases are:
Copper (in progress) – Using the DFINITY “Threshold Relay Chain” system… as a foundation, Copper will finalize computations at least 50X faster than on Ethereum and maximum throughput is expected to be significantly higher. A fully functioning Blockchain Nervous System will ease future protocol upgrades. The client will interact with the network via a dynamically loaded “protocol library” whose hash is specified by the BNS, allowing the BNS to orchestrate minor protocol changes and optimizations on the fly without interrupting users.
Zinc – Software on DFINITY private networks can make atomic calls into software on the public/open DFINITY network.
Tungsten – Building on the randomness created by Threshold Relay, Tungsten introduces DFINITY systems that enable the network to scale out with miners: USCIDs, Validation Towers, Validation Trees and micro-shards (mining computers belong to many shards). The main chain will become a “legacy shard”. Software automatically deployed to new faster shards must adopt an asynchronous message-passing model to interoperate with software on other shards seamlessly. Basic legacy limitations that constrain transactions/computations to a single block will be removed, allowing creation of daemons or other useful new forms of autonomous systems.”
* “Technology components used by the DFINITY project are being released into the public domain for those interested in decentralized technology (for example, software related to a crucial technique known as Threshold Relay is already in the public domain). A beta network created using the “Copper Release” client software is expected towards the end of Q1 2018. The expectation is that the Copper network will launch end Q2 2018.”

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

2.0
N/A
2 - Vague, noncommittal.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

5.0
N/A
5 - Paving the way for the future.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

3.0
N/A
3 - Getting there.
Roadmap Score:
3.4

Compliance

There is a short disclaimer shown in the whitepaper that spans approximately half a page. It is stated that “the issuance and sale of the Company Shares have not been registered under the Securities Act or any other applicable securities law”. KYC will be used for the token sale. The sector that Intiva Health is targeting has fairly high levels of regulatory friction. However much of the legal considerations presented in the whitepaper pertain to the token sale.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

5.0
N/A
5 - Foundational or varied use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

5.0
N/A
5 - Professional, audited.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

5.0
N/A
5 - Professional and top-tier.
Compliance Score:
4.0

Company and Team

The executive team of 4 individuals is listed on the Intiva Health website, along with their profile pictures, job titles and links to social media profiles. There is an additional two-member product development team listed in the whitepaper, but one of these members is listed as an advisor on the website. The LinkedIn profile of the technical lead/advisor shows the individual to be concurrently involved with other projects/organizations, and does not list Intiva Health. Thus, the level of technical expertise and commitment to the project is questionable, especially considering that some of the lead team members are also concurrently involved with other projects/organizations.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

5.0
N/A
5 - Well established, has raised significant funds.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

4.0
N/A
4 - Fully assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.
Company and Team Score:
4.2

Token Sale

The total number of NTVA tokens is 1 billion (12% is for the token sale, 12% is for the pre-sale, 35% for the LMP incentive fund, 30% is for the FMG fund, 5.5% is for the reserve fund, 3% is for miscellaneous expenses, and 2.5% is for staff incentives). The allocation of funds is described with moderate detail (35% is for marketing, 20% is for the reserve fund, 15% is for sales, 10% is for development, 10% is for employee incentives and hiring, and 10% is for administrative expenses). The soft cap is unspecified and the hard cap is $12MM USD, where 1 NTVA = $0.50 USD.

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

3.0
N/A
3 - Justifiable.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

3.0
N/A
3 - Justifiable.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

2.0
N/A
2 - Use of funds only loosely defined.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

3.0
N/A
3 - Sufficient company/community interest balance.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

5.0
N/A
5 - Exceptional presence and interest, having credibility.
Token Sale Score:
3.2

Use this code to share the ratings on your website