Post
Topic
Board Speculation (Altcoins)
Topic OP
Ethereum relies on Infura to communicate with it's tokens. Infura is CENTRALIZED
by
Flux0z
on 17/06/2020, 17:44:26 UTC
With all the buzz about decentralization - I thought I'd bring this topic to everyones attention. I'm sure most people are unaware that for Ethereum to interact with it's native tokens it uses a centralized data provider - Infura.

As we all know, centralization is what we're trying to fight against. Blocknet is developing their own decentralized version, which will likely be integrated with metamask giving users the option to choose a decentralized data provider.

If Blocknet pulls this off, they are looking at pulling in MASSIVE amounts of transaction fees, which is then distributed to their node owners.

There are 4 different income streams which will benefit Blocknet masternode owners.

1) Decentralized Infura fees
2) DEX Trading Fees
3) Decentralized Oracle Network Fees
4) Staking

Blocknet is really under the radar for now, but mind you, they'll likely do partnerships similar to Chainlink real soon.