In early 2016 new Ethereum developers were exploring the possibilities of Ethereum and smart contract driven applications. While the promise of Web3 unlocked many opportunities for these developers, a familiar infrastructure problem from Web2 persisted. The time and effort required to manage the data connection to the Ethereum network was non-trivial and took valuable time away from their primary work.
A passionate group of committed and talented people came together to solve this infrastructure problem. Securing funding from ConsenSys, Infura arrived as a “spoke” (start-up) within the ConsenSys family of companies. We started Infura with a mission: to deliver the best infrastructure and tools for developers, and to empower them to build amazing decentralized applications through instant, scalable and reliable API access to the Ethereum and IPFS networks.
Over the last three years we’ve grown our team and evolved our product, in tandem with the maturing Ethereum ecosystem, to manage its explosive growth. One of our most memorable moments was the EIP150 HardFork of October 2016, when incoming requests to Infura suddenly skyrocketed. Our team worked around the clock to service the rapid increase in volume and we passed through the Fork without any disruption to our users. The other was in December 2017 when the Cryptokitties craze clogged up the Ethereum network. Cryptokitties relied on MetaMask, another ConsenSys spoke, which in turn defaulted users to point towards Infura infrastructure. As a result, our daily request volume doubled in less than twenty-four hours. Through close collaboration with MetaMask and Kyokan, we were able to help the Cryptokitties team troubleshoot, alleviate network pressure and address consumer demand.
Since then, Infura has become critical infrastructure for a diverse population of Web3 businesses, including: gaming, collectibles, financial services, exchanges, wallets, and more. Today, the strength, reliability and speed of our platform is unmatched and we serve thousands of developers every day. The recent successful launch of our paid service, Infura+, only bolsters our belief that this is just the beginning. We remain committed as ever to our mission: to continue delivering the best infrastructure and tools for developers. That means expanding our API suite, increasing the efficiency of the platform, enriching dashboard analytics and launching a host of new products. To continue delivering to our mission, and better serve our growing developer community, we’ve thought long and hard about where we need to go from here.
The Hub-and-Spoke Model: From ‘Shared’ to ‘Full’ Ownership
Every spoke that is incubated by ConsenSys is able to accelerate their development through access to resources, support and joint venture opportunities. Over the past few years, Infura has been flattered to receive significant interest from tier 1 venture capital firms. We’ve decided that a future inside ConsenSys is the best future for our team, our users and this rapidly emerging ecosystem.
As a result, we are pleased to announce that ConsenSys has formally acquired all of the rights to Infura and Infura will continue as a wholly owned business unit within ConsenSys.
ConsenSys, founded by Joseph Lubin, co-founder of Ethereum, invested in us early. He gave us time to learn, to ramp up and supported us throughout our development. As a spoke connected to the ConsenSys hub, working closely with other spokes across the mesh, we’ve been able to meaningfully contribute to the growth and adoption of these new decentralized networks. The decision to remain in ConsenSys doubles down on our collective bet and is a strategy that will enhance our opportunity for deeper collaboration, enabling us to build network effects that will benefit the entire ecosystem.
Throughout our conversations with ConsenSys and potential external investors, we’ve negotiated hard to ensure Infura’s culture and product vision remained protected and supported. We believe that ConsenSys is the right place for us to be situated in order to realize our vision and continue to grow our offering. We see a future where, together, Infura and ConsenSys bring the best developer tools to market. While these tools will have their origins in Web3, they’ll become the standard for all developers and applications of any kind. We’ve found the ConsenSys incubation model to be conducive to our growth, and we are all thrilled to have our continued home inside ConsenSys.
This is a significant milestone for our team. Their talent and hard work has brought us to this moment. We’re proud and privileged to be able to work with such dedicated, intelligent people day in, day out.
Finally, we want to thank you, our community of Infura users. You’ve tested every inch of the platform, enabling us to iterate and expand a high-quality service that addresses real developer needs. Without your support, we wouldn’t be here today. We treasure your partnership and we’re thrilled to be building the next generation of applications with you.