Or write code that interacts with other blockchains. Or create a software library that helps others with the new way of coding DeFi. Dfinity is better at scaling, with every new mining network, the network automatically scales out to process and store the data. This is possible because network nodes don’t just create blocks and wait for them to be validated they notarise every block. Now create a 100% on-chain and scalable auction house for NFTs, or a decentralized exchange for tokens. Dfinity claims that with their model, transaction speeds can be as low as 3-5 seconds. The web3 platform is designed to enhance the Internet with a new form of server-less cloud-functionality. The Internet Computer is a public blockchain platform which is based on a network of sub-blockchains governed by an ownerless master blockchain. This removes a key security vulnerability, and provides for the unbounded, efficient scaling of blockchain computation. The DFINITY Foundation is a not-for-profit organisation developing the Internet Computer. Williams has invested millions of dollars in order to realize his dream of inventing an Internet computer that aims to extend the functionality of the traditional Internet. On the Internet Computer, smart contract calls run in parallel, because smart contracts (called "canisters") are "software actors". Dfinity USA is a nonprofit organization founded in 2016 by computer scientist and theoretician Dominic Williams. Another problem is that transactions must be run in sequence, which creates a firm upper bound on transaction throughput. This makes them very insecure thanks to re-entrancy, which has been one of the biggest sources of hacks on blockchain to date. When a blockchain transaction invokes a smart contract on old-school blockchains, and it calls another contract, which calls another, and another, the functions of the different contracts run on a single call stack.
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