Pontem, a dApp framework built using Substrate, is developing a bridge to connect Facebook’s Diem blockchain to the decentralized ecosystem of permissionless networks like Ethereum and Polkadot. This will expose Facebook’s 2.7 billion users to crypto use cases from decentralized finance (defi) to non-fungible tokens (NFTs).
In collaboration with Pinknode, the most popular node Infrastructure-as-a-Service provider for the Polkadot ecosystem, Pontem will enable global entrepreneurs to build and test applications on incentivized public networks before migrating to Diem’s permissioned blockchain. As the two networks will be interoperable, Diem users will also gain full access to the features developed in the Pontem ecosystem, to the benefit of the broader blockchain industry.
Boris Povod, who founded Pontem in 2020, commented on the partnership saying: “We are excited about collaborating with another project that is aligned to our goals, allowing us both to achieve our full potential. With Pinknode acting as our primary infrastructure provider, its reliable and secure API endpoints will be a key building block to completing our joint goal of improving Polkadot’s current infrastructure, while also allowing us to work towards our goal of becoming the experimentation network for Diem. We look forward to what this partnership will bring.”
The partnership follows a private funding round for the Pontem project, in which it raised $4.5 million from Mechanism Capital, Kenetic Capital, and Animoca Brands, among others.
Delivering Polkadot and Diem Interoperability
With an operational testnet on Substrate, developers can already begin to build applications that can later be ported to the Diem blockchain. Building Pontem as a parathread on the Substrate blockchain framework also ensures interoperability with the entire Polkadot ecosystem of parachains and bridged external blockchains. Any project connecting with the Polkadot network, therefore, gains the same interoperability with Diem through Pontem, bringing greater awareness to the platform and its customization of the Diem ecosystem.
Both teams share the goal of improving Polkadot’s infrastructure to facilitate dApp development and Pinknode will provide Pontem’s public alternative to Diem with the secure, reliable, and scalable infrastructure that it needs. Pinknode will also allow dApps like Pontem to connect to Polkadot’s canary network, Kusama, and test out functionality in a live environment before launching on Polkadot itself.
A Vote of Confidence in Pontem
Pinknode is the most popular customizable API endpoint provider in the Polkadot ecosystem, making it easy for projects to build Web 3.0 dApps without managing node hardware and software requirements.
Its decision to integrate with the Pontem network, therefore, represents a significant vote of confidence in the platform, with Eric Poh, Co-Founder of Pinknode commenting: “In light of our synergies as infrastructure projects on Polkadot, Pinknode fully supports Pontem’s mission to build a bridge to Diem’s permissioned blockchain and potentially onboarding billions of users onto the Polkadot ecosystem.”
“Collaborating with Pontem will allow Pinknode to do what it does best – providing dApp developers the infrastructural support they need to accelerate and expand the revolutionary potential of Polkadot’s cross-chain interoperability.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Credit: Source link
