CEO drops by the DeFi Direct channel to find the untapped potential of the Solana network.
GenesysGo Builds Needed Infrastructure
The DeFi Direct livestream played host to another insightful dialogue with Frank Mathis, Co-Founder and CEO of GenesysGo. Building off the conversation Mathis previously had with Greg, GoonTrades, the latest edition of the livestream on December 30, further proved why GenesysGo is some of the unsung heroes of the Solana Network at this time.
Operating with an impressive load of roughly 40-50% of the RPC node power on Solana, GenesysGo recently unloaded a ton of RPC firepower. With so much demand growing on the Solana network, the work done by Mathis and his cohorts is badly needed.
The decentralized ethos of Web3 is at the core of what GenesysGo is building. Although they have considerable centralized power, they do not see this as inherently good for the system. The ultimate goal of the power is decentralized, and Mathis considers the next phase of his team’s work as vital to the infrastructure health of the ecosystem.
“The more we start to decentralize and bring on shadow operators who can run their own nodes, the more we spread the computation and reduce our server costs it becomes a lot easier for the scale of the network to increase many times over,” Mathis explained.
GenesysGo acts more or less as the accounting ledger for much of the historical network data for Solana, and according to Mathis, this helps developers unrestrictedly create and also boosts scalability.
“[Once] you have many people sharing in the ownership [of the network], the web3 ethos of this is that if you decentralize is enough, the cost to carry that becomes almost insignificant. To the point where you can provide rewards that offset the expenses,” Mathis went on.
The future that GenesysGo envisions will see a healthier and stronger Solana network. The incentivized usage of the Solana network and increasing democratization fits well with the philosophy of many crypto users.
Mathis and GoonTrades explored various topics throughout the talk, showing how GenesysGo will increase its operations and give Solana users unfettered power. The team is on its way to a native token IDO and seeks to build out its NFT capacity.
For a full review of the chat, check out the recording here.
What is GenesysGO:
GenesysGo was founded in 2020 as a protocol that builds RPC infrastructure specifically for the Solana blockchain. The purpose is to help developers build and scale their projects. Genesys Network provides Solana developers with low-cost developer support and Mainnet RPC resources. GenesysGo does not charge for data, there are no rate limits, and they never throttle. They also provide a robust cloud computing foundation built under Solana. The company is focused on building the infrastructure behind the scenes to help drive the mass adoption of blockchain technology.
Source: Solana News
Founded in 2020, solana News is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (solana). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. solana News aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the solana DeFi space.
solana NEWS is a private news network. All posts posted by this user belong 100% to solana.news All rights are reserved to Solana NEWS.