ConsenSys Now Owns Ethereum Infrastructure Provider Infura –

Although the crypto market is quite volatile, developments and investments keep pouring into the nascent sector. Up to now, the price action of bitcoin greatly dictates the direction that the general market takes. Many investors, analysts, and commentators are keeping a close eye on the flagship token. But, investments are coming up in other markets.

Currently, Ethereum comes in as the second-largest crypto or blockchain. It is exceeded only by the flagship token, Bitcoin. Ethereum (ETH) venture production studio ConsenSys actively participates in investments and expansions. The studio has recently announced that it has fully acquired Infura. According to an October 4 blog post, Infura confirmed that it will continue with its operations as a fully owned business unit within the studio.

Infura is a blockchain infrastructure provider that was previously backed by ConsenSys. Infura also confirmed that Joseph Lubin, the ConsenSys founder, was among the start-up’s early investors.
Centralization Condemnation
Infura will now offer Ethereum infrastructure for building decentralized applications. That will enable developers to deploy their solutions without hosting their full node. In July this year, the firm launched Infura+ and followed it up with the introduction of three new subscription tiers.

In March 2019, Delphi Digital, a digital asset research company, published an extensive report that pointed to the alleged centralization of the start-up. That report stated that by using Infura, developers majorly rely on the infrastructure that is fully operated by ConsenSys. Amazon Web Services also hosts the infrastructure entirely. That set up creates a single point of failure that decentralization originally aimed to avoid.

In late September 2019, ConsenSys launched the Impactio platform. That platform aims to bring transparency into philanthropy in partnership with the World Wildlife Fund.

John Wanguba

John Wanguba

John is a content crafter and has experience in writing Forex and Crypto news for FXTimes for over a year. He is also an experienced creative and technical writer, and is usually one of the first ones to publish, discover or cover a scoop. e-mail: john@fxtimes.com

Crypto Destroyer

Be the first to comment

Leave a Reply

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.