Microsoft, Tencent and 16 Web2 giants cooperate with Consensys in the mission to decentralize the Infura networkMicrosoft, Tencent and 16 other Web2 giants have partnered with Consensys on the mission to decentralize the Infura network – the primary access point to Ethereum for much of the decentralized finance (DeFi) sector.
The partnerships aim to increase decentralization on the Infura network — key to preventing outages of Web3 services leveraging the network, including the MetaMask wallet service.
Consensys senior product manager Andrew Breslin said the importance of partnerships is not about “who they are” but about big-name companies aligning with Infura in “wanting decentralize every layer of the blockchain infrastructure.”
Scheduled for launch in Q4, the Decentralized Infura Network (DIN) is a solution to Infrua’s centralization problem, with the network currently controlled by Consensys, meaning there remains a single point of failure.
“The cost and complexity involved in operating a service like Infura limits who we can partner with to serve this traffic. There is now a thriving ecosystem of Web3 infrastructure providers that can provide free services to Infura.”
Breslin said one of the first major features offered in DIN is “failover support” for the Ethereum and Polygon networks. Failover support means traffic can be rerouted to one or more DIN partners during an outage, ensuring higher operating speeds over the long term.
According to Breslin, when launched, DIN will enable more trustworthy and censorship-resistant access to Ethereum as decentralized applications (DApps) will not need to rely on a single service provider in one place. .
Developed by blockchain software giant Consensys, Infura offers a development kit that provides API access to the Ethereum and IPFS networks. Currently, Infura is the access point for most DApps to access real-time online data from the Ethereum blockchain.
In November 2020, centralization issues were exposed when the MetaMask wallet went down due to Infura experiencing a temporary outage. Several centralized exchanges and DeFi projects were also affected by the downtime.
Decentralizing blockchain data providers on the Infura network is important to resist censorship over the long term because currently, centralized data providers can be shut down with a single attack. well-planned public or adequate legal action.
Breslin said the current lineup is not a closed set, and Infura wants to let other “highly reliable” internet infrastructure providers know that Infura is open to them joining DIN as well.
“DIN’s success depends on us partnering with more and more operators over time.”
The group of new companies is partnering with Infura during DIN’s “association phase” – a temporary testing period during which the network remains centralized.
“Infura and these 18 partners are now participating in the DIN association phase, which means we work as equal partners.”
Going forward, Breslin said DIN would ideally be governed as a decentralized autonomous organization or some other type of governance structure that would ensure each partner has a democratically weighted say over the network net.
Source:https://tradecoind2.com/microsoft-tencent-and-16-web2-giants-cooperate-with-consensys-in-the-mission-to-decentralize-the-infura-network/