ConsenSys Announces Launch Of Decentralized Infura
ConsenSys has announced plans to launch a decentralized version of Infura by the end of this year. The move aims to address the current centralization concerns and potential single points of failure associated with Infura, which acts as a vital access point for decentralized applications (DApps) to retrieve real-time on-chain data from the Ethereum blockchain.
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Infura launched in 2016 with one mission: to make it easy for Web3 developers to access Ethereum and build the future they want to live in. 🚀
Infura was the first blockchain API service of its kind. 💥
— Infura (@infura_io) September 16, 2022
Game-Changer for Ethereum
ConsenSys’ Head of Strategy revealed that the company’s ambitious plans. He explained that the launch of the decentralized Infura would be followed by a “federated phase” lasting approximately six months, serving as a trial period while the network remains under centralized control.
Infura’s significance in the Ethereum ecosystem cannot be overstated. It has been the primary data service provider for countless DApps, but its centralized nature raised concerns about reliability and censorship resistance. Notably, in November 2020, the MetaMask wallet became inaccessible when Infura experienced downtime, impacting both centralized exchanges and decentralized finance (DeFi) projects. To mitigate these risks, ConsenSys is diligently working on establishing a decentralized marketplace comprising up to five diverse data providers globally. This marketplace will not only include Infura but also encourage a distributed approach to accessing Ethereum data, making the network more resilient against failures and censorship attempts.
Decentralized Data Marketplace
Simon Morris emphasized the goal of building a TCP/IP-like architecture for the decentralized web (Web3), one that cannot be easily regulated. This new paradigm aims to balance the power dynamic between service providers and users, providing greater decentralization and antifragility to the ecosystem. While Morris did not explicitly confirm negotiations with major Web2 cloud providers like Google Cloud or AWS, he highlighted a keen interest from both Web2 and Web3 providers. The allure of participating in this novel and potentially lucrative venture appears to be drawing significant attention from industry giants.
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The transition towards a decentralized marketplace of data providers is essential, as it prevents potential monopolies from being shuttered by a single court order. By adopting a decentralized autonomous organization (DAO) or a foundation governance model, the decentralized Infura network aims to ensure long-term sustainability and resilience against external pressures.
