Consensys chief strategist Simon Harris says the firm’s “decentralized Infura” will start its roll out within months, which aims to decentralize the key data provider providing blockchain information to Web3 apps like MetaMask and Gnosis.
A decentralized version of Infura will launch by the end of the year, with major Web2 cloud providers set to become part of the network, the chief strategist of ConsenSys says.
Infura is the access point for most DApps to access real-time on-chain data from the Ethereum blockchain, but given it is controlled solely by ConsenSys, it provides a single point of failure. In November 2020, the MetaMask walletworking when Infura went down, and centralized exchanges and DeFi projects were affected too. Infura also came under fire from some users for complying with U.S. sanctions against Tornado Cash, but as a U.S.-based company, there is little else ConsenSys could do.
"There's interest from both of them [Web2 and Web3 providers]. I mean, they kind of see this as a novel, kind of potential source of a huge amount of business in the future."He added the federated stage was necessary to iron out the bugs and get the system working properly while still under centralized control — whether by Consensys or a new body is yet to be determined. It is expected to transition into a permissionless marketplace of data providers sometime in 2024.
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