Infura, the world’s leading Web3 API provider from ConsenSys with more than 430,000 developers globally, announced its plan to launch a Decentralized Infrastructure Network to complement the existing offering.
“Decentralization has always been the overarching goal of ConsenSys. Now that we are seeing 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”
The decentralized protocol will be a community of highly engaged infrastructure providers participating in an open source ecosystem that can together overcome the limitations of the existing marketplace. The decentralized protocol will exemplify the promise of Web3, ensuring that millions of future users across the world can seamlessly access the information and services they need without outages and downtime due to a single point of failure. It is planned to be launched in the first half of 2023.
The demand for decentralized alternatives to the world’s current centralized systems and services continues to grow quickly. Data hacks and outages in the status quo hurt users. Decentralizing access to blockchain APIs is a vital step to improve network uptime and importantly, give people sovereignty of their personal data.
“Decentralization has always been the overarching goal of ConsenSys. Now that we are seeing 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,” said Joseph Lubin, CEO of ConsenSys.
Providing a more decentralized option
Infura launched its service in 2016 with the goal of reducing friction for Web3 developers and simplifying access to the Ethereum and IPFS networks. Since then, Infura’s Ethereum API has enabled over 430,000 developers to build products ranging from blockchain-based games, decentralized finance applications, NFT marketplaces, and DAOs. Infura provides the core infrastructure backend for popular Web3 products such as MetaMask, the Ethereum Name Service, and Layer 2 scaling solutions. The Web3 developer community started on Ethereum, but it has expanded to several new and complementary networks. Infura recognizes the rise of a multi-chain world is inevitable and this is why Infura supports an increasing variety of blockchain APIs.
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“Infura was founded on the belief that the Web3 developer community can create a world where economic freedom, shared truth, and digital security are guaranteed to everyone on the planet. Today we’re announcing an important evolution that aims to underscore these values and affirm our commitment to being the world’s leading blockchain development suite for Ethereum and other networks. A Decentralized Infrastructure Network was always an inevitable part of our future,” added Eleazar Galano, co-founder of Infura.
Infura provides the critical infrastructure behind leading DeFi applications, sustainable Layer 2 networks, and other creative use cases being built on Ethereum and other networks. Infura’s infrastructure backend has been battle-tested with years of experience managing high-throughput requests for thousands of customers, but as a single service provider, it will never be perfect.