In a landmark move for decentralized finance (DeFi), Microsoft, Tencent, and 16 other technology giants have joined forces with ConsenSys to decentralize the Infura network. This network serves as a crucial gateway to Ethereum, which is a foundational blockchain for numerous DeFi services, including the popular MetaMask wallet.
This collaboration, scheduled for a Q4 launch, aims to address the challenges of centralization in the Infura network, which is currently under ConsenSys’s control. One of the key benefits of this initiative is the introduction of “failover support” for the Ethereum and Polygon networks, ensuring higher uptime and reliability by allowing traffic rerouting to multiple DIN partners during outages.
Andrew Breslin, ConsenSys’s senior product manager, emphasized that these partnerships are not just about the prestige of the companies involved but are focused on a shared goal of decentralizing every aspect of blockchain infrastructure.
The move towards a Decentralized Infura Network (DIN) represents a significant stride in enhancing reliability and censorship resistance in the blockchain space. Presently, Infura is the primary access point for most decentralized applications (DApps) to obtain real-time data from the Ethereum blockchain. The need for decentralization was highlighted during a November 2020 incident when an Infura outage caused disruptions in services like MetaMask, along with several centralized exchanges and DeFi projects.
Looking forward, the DIN aims to operate as a decentralized autonomous organization or a similar governance structure, ensuring equitable participation and decision-making among partners. This federated phase of the DIN is a step towards a more resilient and decentralized blockchain ecosystem, crucial for long-term censorship resistance and security.
Source: https://cointelegraph.com/news/microsoft-tencent-infura-network-partnership
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