The race to create the future internet, Web3, is heating up daily. Providers are competing against each other, demonstrating a healthy, expanding, and decentralized Web3 ecosystem to come.
The Basics
Users interact through various open-source applications such as MetaMask, Web3 gaming, the metaverse, and DeFi protocols. However, they don’t usually stop and think about what happens behind the Web3 scenes, or what is piecing the blockchain-based web together. If we imagine Web3 as a burgeoning new metropolis, it’s the providers of the underlying infrastructure and power grid that make all these operations possible.
Every Dapp relies on communication with one or more blockchains. Daily, full communication nodes serve billions of requests from Dapps to read and write data onto a blockchain. We require a massive node infrastructure to keep up with the ever-expanding Dapp ecosystem.
However, the running of nodes is both time- and capital-intensive. Dapp builders must turn to external providers for remote access to nodes. This requirement results in extreme monetary incentives for infrastructure providers to serve as many of the Web3 ecosystems as possible. But, who are the ones winning this race?
Read the full article here.
