GenesysGo is the backbone of Solana and wants to prove that performance and decentralization aren’t mutually exclusive.
Powering the Fastest L1
The team built one of Solana’s largest Remote Procedure Call (RPC) networks entirely from scratch. In a nutshell, RPCs bridge dApps with the Solana blockchain.
“They [RPC servers] act as onramps and offramps for information to ensure that the flow of data going to the validators that build the blocks stays nice and smooth, and there’s no congestion,” said GenesysGo’s co-founder Frank in an interview with Web3Wire. “It’s a very symbiotic relationship because, without RPC servers, validators and the chain wouldn’t be able to operate, and without validators, RPC servers wouldn’t have a purpose in the blockchain.”
GenesysGo runs over 300 servers across nine countries while offering free RPC access to everyone. Targeting maintenance costs, they launched one of the most successful NFT collections on Solana, the Shadowy Super Coder DAO, in November of 2021 . With a mint price of 2.5 $SOL, the collection of 10,000 NFTs is sitting now at around 128 $SOL. The team then went on to raise 52 million $USDC during the $SHDW IDO.
“IDO funds are for building, not for speculating. Any projects that took funds from their NFT mint or their IDO and plopped them into the crypto markets clearly did not have an eye on risk management. GenGo has years and years and YEARS of runway because we manage risks, run lean, and only care about the BUIDL,” shared Frank on Discord.
The Shadow Ecosystem
GenesysGo is decentralizing its infrastructure through the Shadow Ecosystem, powering governance with $SHDW tokens.
The Shadow Ecosystem is formed by:
Shadow Operators: independent Solana community members who maintain servers to contribute compute and storage to the decentralized network of servers.
Shadow Drive: a new approach to on-chain storage explicitly built for the Solana blockchain. It integrates with Solana’s Proof of History consensus mechanism to achieve fast I/O speeds, scalability, and data integrity.
Shadow Net: allows Solana builders the ability to create private instances of the Solana blockchain. Each instance provides an on-demand Solana blockchain environment identical to the chain’s state at its creation.
The recent release of Shadow Drive v1.5, only two months after v1.0, shows the team’s efforts to boost Web3 adoption for mainstream use cases.
The Solana community took to Twitter to celebrate the many recent breakthroughs coming from the protocol.
As GenesysGo keeps improving and fulfilling its Web3 dreams, Solana users and developers are also a step closer to having much better experiences interacting with the chain.
What is GenesysGo:
GenesysGo is a Solana-based infrastructure provider of RPC and validator services within the Solana ecosystem. The protocol’s objective is to assist developers in building and scaling their projects based on the Solana blockchain by providing the ecosystem’s developers with low-cost developer support and Mainnet RPC resources.
Where to find GenesysGo:
Source : web3wire