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Home BUSINESS

Microsoft and Tencent Lead 18-Company Alliance to Decentralize Ethereum’s Infura

BlockNews.com Team by BlockNews.com Team
November 15, 2023
in BUSINESS, DEFI, INVESTING
Reading Time: 2 mins read
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Web3 infrastructure firm Infura has partnered with tech giants Microsoft, Tencent and 16 other business companies to help build its Decentralized Infrastructure Network (DIN). The partnerships aim to increase decentralization on the Infura network, which is key to preventing outages of the Web3 services that leverage it, including the popular wallet service MetaMask.

Why Decentralization Matters

Currently, the Infura network is controlled by Consensys, meaning there remains a single point of failure. This came to light in November 2020 when the MetaMask wallet stopped working due to Infura suffering a temporary outage. Several centralized exchanges and DeFi projects were also affected.

🚨 NEWS: Microsoft, Tencent, and 18 other companies partner with Consensys to decentralize Ethereum's Infura network.

Major corporations want to be in crypto! pic.twitter.com/5f8vMcFnLi

— BlockNews.com (@blocknewsdotcom) November 15, 2023

Decentralizing blockchain data providers like Infura is critical for censorship resistance because centralized data providers can be shut down with a single attack or legal action. The DIN will allow for more reliable and censorship-resistant access to Ethereum as decentralized applications won’t need to rely on a single service provider.

How the Decentralized Infura Network Works

The DIN launches in Q4 2022 and will offer failover support between partners, meaning traffic can be re-routed if there are outages. More partners can join over time to increase decentralization.

Initially, Infura and the 18 partners will participate in a “federated phase” where they work together as equals to trial the network. In the future, the DIN could be governed autonomously to ensure democratic control.

The Lineup of Tech Giants

The roster of new business partners is not closed. Infura wants more highly reliable infrastructure providers to join the DIN. While the specific companies involved are notable, the significance lies more in major firms aligning to decentralize blockchain infrastructure.

Conclusion

The Decentralized Infura Network marks a major milestone in making blockchain data provision more decentralized and censorship-resistant. With tech giants like Microsoft and Tencent now on board, the project builds momentum to reduce reliance on centralized points of failure.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: BlockchainBusinessethereum
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BlockNews.com Team

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