Web3 represents the next generation of the internet, one that focuses on shifting power from big tech companies to individual users. We’re now in the midst of this revolution.
Everyone knows that putting all eggs into one basket is a foolish decision, especially when it comes to important data and digital assets. And that is exactly what we do in Web2. We hand over our data to large internet companies and let them extract value from every user at the cost of privacy and valuable content. Unfortunately, this is the inherent characteristic of a centralized structure. The imbalance of power caused by the asymmetry of information was supposed to be eliminated by Web3, a promising decentralized world that gives power back to end-users.
There are tons of decentralized applications in the industry, yet many of them are centralized in infrastructure. Most of us are just simply trusting information provided by centralized infrastructure companies, and allowing them to obtain every single request from users in all dApps. Just like we were doing before, in Web2.
The other concern is that users are vulnerable to outages. Users lose access to their digital assets when the API service is down. You know your assets are safe, yet you can not interact with them. You must switch it every single time when there is an outage, whereas the privacy problem is still outstanding. The truth is, most end users don't know how to change API endpoints or even understand what an API is. The industry thirsts for stronger trustless infrastructure providers. This is the motivation of the BlockPI Network.
Although BlockPI will provide most of the nodes at the beginning of the project, the plan is to build a fully scalable RPC service network. Our vision is to build an efficient and robust Web3 infrastructure. Thus the plan was put forward in the spirit of "One for all, and all for one".
Self-owned RPC nodes from wallets, exchanges, dApps, and third-party RPC providers will be encouraged to join the BlockPI Network by incentives. Every participant who connects the RPC server to the BlockPI Network will be benefited from it. They don't need to keep renting servers to be prepared for the peak demand of RPC requests. In this way, they significantly increase the maximum RPC requests availability with a minus cost, only fees of extra inflow usage on-demand. On the other hand, any participant with idle capacity can earn by providing outflow RPC requests using its redundant resource.
From a whole picture perspective, the BlockPI Network smooths out volatile of RPC requests load through the entire network, improving the utilization of resources as much as possible and providing infinite scalability at the same time.
BlockPI Network is a non-competitive web3 service layer. Any RPC service provider is welcome to join. The team will deploy a native version of distributed RPC Dapp on each blockchain. Third-party nodes will be easy to register and connect their clusters to the network.