ConsenSys partners with Infura and NEAR Protocol to grow beyond Ethereum
New York-based blockchain software technology ConsenSys has announced that it is partnering with its leading blockchain development platform Infura and the infinitely scalable proof-of-stake (PoS) blockchain NEAR Protocol.
Infura and NEAR benefit from each other
As per the announcement released on May 24, the integration, which has been in private beta for two months, is now finally available. This represents the start of Infura's development beyond Ethereum Virtual Machine or EVM-compatible chains. It also represents a planned move toward becoming a key connector in a multi-chain environment while also improving the development experience.Because NEAR is built on the Nightshade sharded blockchain, it has limitless scaling potential, allowing transaction-heavy decentralized apps to run smoothly with low fees. Ethereum transactions are processed at 14 tps, while Bitcoin transactions are processed at 7 tps.
The partnership enables the NEAR Protocol community access to the over 430,000 Infura developers who are already working on the next generation of Web3 applications. On the other hand, with the integration of the NEAR Protocol, Infura developers will have access to a carbon-neutral ecosystem with a minimal environmental footprint.
Furthermore, the collaboration also aims to allow developers to create dApps using popular programming languages like Rust and AssemblyScript and provide them with improved learning resources.
The co-founder of Infura, E.G. Galano, said that "the NEAR team has created a protocol that has resonated with our developer audience. We are excited to be supporting their Protocol. The Web3 ecosystem continues to grow and innovate, and that innovation isn't limited to the Ethereum world."
Outgrowing beyond the Ethereum
When it came to launching new NFTs, DeFi apps, and tokens a few years ago, Ethereum was the only option. Today, developers have many options, and each Layer 1 or Layer 2 protocol takes a distinct approach to scalability and usability issues. The new collaboration has recognized this field's potential.Interestingly, the move comes two months after ConsenSys announced the closing of its $450 million Series D financing round two months ago, boosting the company's total worth to $7 billion.
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