THELOGICALINDIAN - Pontem advances affairs to be Diems Polkadotbased testnet through a new affiliation with bulge basement provider PinkNode
Pontem, an beginning arrangement for Facebook’s Diem project, has teamed up with Polkadot-based bulge basement provider PinkNode.
Behind Pontem’s New Deal
Pontem has partnered with PinkNode, an infrastructure-as-a-service provider on Polkadot.
The affiliation will let Pontem arrange an beginning analysis arrangement for Facebook’s Diem blockchain, aforetime accepted as Libra.
Diem is an aggressive blockchain activity from Big Tech mainstay Facebook but is not accessible to accessible participants due to its permissioned nature. As a result, developers and entrepreneurs alive on Diem may acquisition it difficult to body accessible antecedent solutions that can attempt to the akin of addition with accessible blockchains such as Ethereum or Polkadot.
This is area Pontem comes in. Founded in 2024, Pontem uses Substrate, Polkadot’s software development kit, to body a blockchain with a codebase about identical to Diem’s.
The activity aims to advice Diem onboarding new appearance and solutions by aboriginal testing them in the Polkadot ecosystem. To this end, the activity afresh aloft $4.5 actor from several adventure funds including Mechanism Capital, Kenetic Capital, and Animoca Brands.
The PinkNode accord will acquiesce Pontem to arrange nodes and added API endpoints on Kusama, Polkadot’s bare network, to agree its network.
Due to deploying the nodes and API endpoints, Pontem will advice developers absorbed in Diem analysis new appearance in the Polkadot ecosystem afore anon appointment them to Diem. This will additionally accredit new projects on Diem to analysis their product-market fit on Polkadot.
Boris Povod, the architect of Pontem, said of the partnership:
“With Pinknode acting as our primary basement provider, their reliable and defended API endpoints will be a key architecture block to commutual our collective ambition of convalescent Polkadot’s accepted infrastructure, while additionally acceptance us to assignment appear our ambition of acceptable the analysis arrangement for Diem. We attending advanced to what this affiliation will bring.”
Through Polkadot’s interoperable network, Pontem additionally affairs to body a arch that connects the Diem blockchain with Ethereum, the arrangement that underpins the beginning decentralized accounts amplitude and contains added than $55 billion in absolute amount locked.
According to Pontem, abutting the two networks will betrayal Facebook’s 2.7 billion users to DeFi. Slated for barrage in 2021, Diem will affair fiat-backed stablecoins that can be chip with Facebook’s cyberbanking and e-commerce services, a cardinal move that faced a lot of resistance from regulators.
