The Evolution of Blockchain Infrastructure EG Galano

Introduction

In this section, the speaker introduces himself and Infura, a blockchain infrastructure provider. He discusses the evolution of the Ethereum ecosystem and how it has become more complex over time.

Infura's Role in Blockchain Infrastructure

• Infura is a blockchain infrastructure provider that offers APIs and other tools for web3 development.

• The Ethereum ecosystem has evolved to include many different applications built on top of core protocols.

• Infura provides the base layer infrastructure that ties all of these applications together.

Evolution of Blockchain Infrastructure

• Initially, running your own infrastructure was necessary to participate in Bitcoin transactions.

• As resources required for Bitcoin grew, so did the infrastructure needed to run it.

• With Ethereum, people were more interested in transaction throughput and what could be done on the network rather than the underlying infrastructure.

Making It Easy to Enter Web3 Space

In this section, the speaker discusses how ConsenSys worked with MetaMask to make it easier for people to enter the Ethereum and web3 space by removing the requirement of having to run their own node.

MetaMask's Chrome Extension

• ConsenSys worked with MetaMask to create a Chrome extension that removed the need for users to run their own node.

• This made it simple for anyone to install a wallet and immediately transact on the Ethereum network.

Enabling Applications on Ethereum

• ConsenSys opened up its Ethereum API so that anyone could sign up and build applications enabling their users to transact on Ethereum without having to worry about keeping servers online.

• This was the start of infrastructure for Ethereum, and as people started interacting with the APIs, it became clear that building a product for blockchain had an additional component that would become important.

Introduction to ITX

In this section, the speaker introduces ITX (Inferior Transactions), a solution developed by the team to address the complexity of setting transaction fees on Ethereum.

What is ITX?

• ITX stands for Inferior Transactions.

• It acts as a gas tank that enables users to not have to worry about transaction fees.

• The gas tank is funded ahead of time by another user who can pay for transactions of applications they're trying to deploy.

• This allows developers to abstract away the complexity of gas fees from end-users and build it into their model.

Use Cases for ITX

In this section, the speaker discusses some use cases for ITX, including how entities can participate in public blockchains without touching Ethereum or other assets on the chain.

Use Case 1: Coordination Layer

• Some entities wanted to participate in public blockchains but had requirements that meant they couldn't touch Ethereum or other assets on the chain.

• They were using Ethereum more as a coordination layer and not really looking at it for value transfer.

• To be able to participate on the network, they needed to pay transaction fees.

• The team came up with a model where these entities could subscribe to a service with them that allows them to use ITX and transact on the network for a consistent fee regardless of the dynamics of the fee market.

Use Case 2: NFT Marketplace

• Developers can fund an ITX gas tank for their marketplace so people can transact without worrying about gas fees.

• This abstraction helps new users entering space understand what this gas fee is for.

Building Additional Layers of Infrastructure

In this section, the speaker talks about building additional layers of infrastructure beyond IPFS and Ethereum APIs.

ITX Connectors

• The team is starting to focus more on additional components built on top of their core APIs like ITX.

• They are releasing connectors that developers can use in their own applications.

• A demo is shown for the Consensus Connector, which is a low code no code solution for creating NFTs without having to write any solidity deploying contracts with code.

Introduction

The speaker introduces the demo and explains that it requires no code, only configuration through PowerApps. They emphasize the need for a blockchain connection to do anything on the blockchain.

Partnering with Microsoft

The speaker discusses their partnership with Microsoft to build a demo powered by Infura, which provides the necessary blockchain connection. They explain that this abstracts away the need for API queries and makes it easy for anyone to try building an NFT.

Building Applications and Network Load

The speaker transitions to discussing how all applications built on the blockchain put more load on the network, affecting transaction throughput. They mention Ethereum 2 and layer two protocols as potential solutions but highlight state growth as an ongoing issue.

• Spreading Transactions Across Chains: To address these issues, transactions are being spread across other chains such as Polygon, Optimism, and arbitrary roll-ups.

• Difficulty Running Infrastructure: As more data is written to the database, running infrastructure becomes increasingly difficult.

• Impact of Viral QR Codes: The speaker poses a hypothetical scenario where a viral QR code causes a million people to download an app and transact simultaneously. They ask how this would affect both the app and underlying chain.

Dependence vs Utilization

The speaker addresses concerns about dependence on services like Infura and MetaMask in the decentralized community.

• Distinction Between Dependence and Utilization: While many applications utilize these services, they are not necessarily dependent on them. MetaMask allows users to use their own infrastructure or alternative services if desired.

• Open API Specification: Infura uses an open API specification to further the growth and adoption of the space, rather than relying on proprietary solutions.

Infura's Open Architecture Initiative

In this section, the speaker talks about Infura's open architecture initiative and how it aims to provide a decentralized and robust infrastructure layer for web 3.0 applications.

Infura's Harvard Architecture Model

• Infura has a Harvard architecture model that allows people to utilize inference APIs while also using their own infrastructure.

• Several large organizations have set up this infrastructure for themselves, using Inferia as a primary and their own as a fallback or vice versa.

Web 3 is About Community

• Web 3 is about ownership participation and community.

• Inferia wants builders and consumers of their services to participate in the community by giving feedback on specific products or telling them what they need.

Reviving the Open Architecture Initiative

• The speaker wants to revive Inferia's open architecture initiative, which was announced at Devcon 5.

• The initiative aims to share more details about how Inferia runs its operations, particularly around node management.

Supporting Other Chains

• Inferia would love to support developers wherever they want to deploy but scaling challenges make it difficult.

• Any commitment made by Inferia will not be pulled out from under developers because web 3.0 is supposed to be immutable.

Decentralized Infrastructure Layers

• All applications built on top of Inferia depend on them.

• It is important for infrastructure layers to be decentralized and robust so that global trade and metaverse can be built on top of these layers.

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