Pontem to improve Polkadot’s present infrastructure with Pinknode partnership

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Jul 17, 2021
  • The partnership promises to bring new opportunities to both companies in the Web3 segment.
  • The Pontem network will work with Pinknode to offer node infrastructure via the Polkadot ecosystem.
  • The Facebook-backed project will launch the pilot program for its Diem stablecoin this year.

Polkadot infrastructure provider Pontem has announced a collaboration with node API provider Pinknode. The official announcement was stated on the official social media channels of the Pontem Network team.

Pinknode is a major provider of access to several blockchains. Pontem stated that the collaboration will enable the company to have trusted resource-efficient access to Polkadot.

Bringing opportunities for dApp development

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

Founder of Pontem, Boris Povod, commented on the partnership, stating that it will bring new opportunities to both companies in the Web3 segment, especially for Polkadot-based dApp development.

“We are excited about collaborating with another project that is aligned to our goals,” he stated. Povod added that Pinknode will act as its primary infrastructure provider, offering secure and reliable API endpoints that will be vital to improving Polkadot’s present infrastructure.

Ideally, the new partnership will offer 100% interoperability between Polkadot’s parachains and Facebook’s Diem.

Pinknode to provide the infrastructure through Polkadot

The Pontem network initially completed a $4.5 million seed funding to help expand its network and operations. The funding round was headed by VC heavyweights Kenetic Capitala in Mechanism Capital.

The Pontem network will be working with Pinknode to offer node infrastructure via the Polkadot ecosystem. It will enable developers to utilize the Polkadot parachain as a testing ground for their project before they submit it to the Diem blockchain.

There are also several reports that the project will be launching the pilot program for its Diem stablecoin before the end of the year. The project was initially introduced as Libra in 2019. However, the project faced serious challenges from international regulators, which made the tech giant rebrand it as Diem the following year.

The project has also been very busy in other areas in the market. It has beefed up its workforce by hiring new staff, including Alejo Pinto as the new chief growth officer. Pinto worked for BlockFi before being appointed by Pontem.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker, eToro
10/10
67% of retail CFD accounts lose money