Connect with us

Hi, what are you looking for?

Investing

Microsoft and Tencent Join Forces with Infura for Blockchain Infrastructure

Microsoft Office / Source: Adobe

Crypto infrastructure giant Infura is taking its first step toward decentralizing core components of its service following years of criticism that the company is a ‘single point of failure’ for Ethereum.

Over a dozen Web2 giants including Microsoft and Tencent have partnered with Infura’s parent company, Consensys, to help decentralize the network, which will help prevent outages for the firms leveraging its technology stack.

That includes the Consensys-owned Metamask wallet – the most popular Ethereum / Web3 wallet boasting over 30 million users.

“The cost and complexity involved with running a service like Infura was kind of limiting in terms of who we could partner with to serve this traffic,” said Andrew Breslin, senior product manager at Consensys, to CoinTelegraph. “Now there’s this huge flourishing ecosystem of Web3 infrastructure providers that can provide a service that’s complimentary to Infura.”

Infura first announced plans to decentralize its service over a year ago. In August 2023, it published a blog post explaining how its Decentralized Infura Network (DIN) would begin by federating its RPC layer by routing requests “based on a federated system of providers with distinct offerings.”

According to Breslin, DIN will offer “failover support” for Ethereum and its layer 2 Polygon network, meaning Infura can reroute traffic to its partners in the event of an outage.

Infura, alongside our partners, is pushing the boundaries of decentralization.

We’re making a significant stride in the development of the Decentralized Infrastructure Network (DIN), Read the two-part series

— Infura (@infura_io) November 14, 2023

Infura’s Centralization Problem


Infura isn’t required for Ethereum to keep running, but its service is required by a slew of popular Ethereum applications that rely on it for uptime and accurate data. Some apps using its services include Uniswap, Compound, and Brave.

Infura experienced one such outage event in April 2020, affecting the functionality of Metamask and various other apps.

Critics of Infura have also warned that a well-planned attack or sufficient legal action against it – particularly from government actors – could easily disrupt the functionality of its supported networks.

Upon launch, DIN will let users access Ethereum dapps in a more censorship-resistant manner, instead of depending on one provider in one place.

“Infura and these 18 partners are now participating in this federated phase of DIN, which means that we work as equal partners,” said Breslin.

Compared to Ethereum, running a complete Bitcoin node is far less resource-intensive for average users to do on their own, though the latter network is generally viewed as being less programable.

The post Microsoft and Tencent Join Forces with Infura for Blockchain Infrastructure appeared first on Cryptonews.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Learn Trading With Online Courses, Classes, & Lessons

    You May Also Like

    Investing

    Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today....

    Investing

    Source: Pexels Web3 development protocol Envision Blockchain Solutions has partnered with the HBAR Foundation to create a blockchain-centric system for handling the carbon markets....

    Latest News

    President Biden’s ghostwriter will not face charges despite deleting evidence of the sharing of classified material during the investigation. Mark Zwonitzer — who collaborated...

    Stock

    Union members at Ford, Stellantis and General Motors have ratified a new 4½-year contract, locking in at 11% pay increases secured after a six-week...

    Disclaimer: economicedgex.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 economicedgex.com