Infura Announces Plans To Launch Decentralized Ecosystem

Leading Web3 API infrastructure provider Infura has announced that it will be launching a Decentralized Infrastructure Network sometime in the next year. 

The Decentralized Infrastructure Network would seek to do away with frequent outages on Ethereum. The new network would also help to address concerns that Infura is too centralized to underpin Ethereum’s decentralized applications (dApps)

Easy Access To Web3 Products 

Infura is tentatively calling the network the “Decentralized Infrastructure Network.” In a statement released by Infura, it noted that the new network would give millions of current and future users easy access to Web3 products without any outage or downtime that could occur thanks to any single failure. 

“We are proud and excited to announce Infura’s plans to launch a new decentralized infrastructure network.”

Infura is a major player in providing backend infrastructure to Web3 companies, enabling them to launch their products. It allows businesses to access blockchains such as Ethereum without having to run their own nodes. However, as the space grows and gains more users, Web3 becomes increasingly centralized as more users and firms run their projects solely through Infura. 

An Alternate Solution 

Infura has previously stated that decentralization in the Web3 space could be achieved if every user ran their own node. The company’s Decentralized Infrastructure Network could provide companies with an alternate solution to achieve decentralization. In an interview, E.G. Galano, co-founder of Infura, stated that he does not want Web3 to rely on just one or a few infrastructure providers. 

“As time goes on, the blockchain grows and grows, [and] it becomes more difficult for people to run their own infrastructure. So you could fast forward in time, however many years, and say, will it only be Infura? Will it only be a handful of entities like Infura? And that didn’t feel like the right thing.”

Galano also hinted that the project’s name could be changed in the near future, stating that the name does not “easily roll off the tongue.” 

In Line With ConsenSys’ Vision

Infura’s new initiative is in line with parent company ConsenSys’ mission to progressively decentralize its products and services. The new protocol will feature a large community of highly engaged infrastructure providers that would participate in an open-source ecosystem that overcomes the current limitations of existing infrastructure.

“Decentralization has always been the overarching goal of ConsenSys. Now that we are seeing a natural product market fit, our product teams are decentralizing what we do and how we do it. A Decentralized Infrastructure Network via Infura is the natural continuation of that goal”

ConsenSys also owns one of the most popular crypto wallets, MetaMask, and has launched several other products in the crypto space, including CodeFi, Diligence, Quorum, ConsenSys NFT, Truffle, and several others. 

Timing With The Merge Just A Coincidence 

Galano further added that the timing of the announcement, and the Ethereum Merge, which took place earlier this week, were mere coincidences. Galano added that the company has been working on this project since 2017. However, he added that the company was not able to put the required amount of time or research needed thus far.

“Because of our day-to-day operational needs of serving MetaMask users and all developers building on Infura, we couldn’t put the amount of time and effort into this research it needed.”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.