Pontem Network Taps Pinknode Popular Node API Provider To Uncover New Opportunities For Facebook’s Diem

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Pontem, a Dapp framework built on the Polkadot ecosystem for experimentation on the Facebook-backed Diem blockchain, is pleased to announce a partnership with Pinknode, the most popular and trusted node infrastructure provider on Polkadot!

🎉🎉🎉 To celebrate this partnership Pontem and Pinknode will be hosting an AMA on their respective Telegrams on July 23rd at 9AM EST.

Through this collaboration, both teams aim to provide crucial infrastructure for Web 3.0 purposes. Pontem Network, in collaboration with Pinknode’s Polkadot node infrastructure, can serve global entrepreneurs testing product market fit in an incentivized public network, before migrating their applications to the permissioned Facebook-backed Diem Blockchain.

“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, their 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.” Boris Povod, Co- Founder of Pontem

Partnering with Pinknode is critical, as both teams share similar goals of improving Polkadot’s current infrastructure to benefit dApp developers. As Pontem builds the Polkadot-based public alternative to Facebook-backed Diem, Pinknode will provide Pontem with secure, reliable, and scalable API endpoints as the primary infrastructure provider. Pinknode’s code allows for connecting dApps to the current Kusama developmental ecosystem for Polkadot developers. Pinknode is also the most popular customizable API endpoint provider in the Polkadot ecosystem, and having their services integrated with the Pontem Network is a crucial milestone and vote of confidence in Pontem’s strategy.

“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.”-Eric Poh, Co-Founder of Pinknode

The partnership with Pinknode marks another big accomplishment for Pontem. Previously, the project raised $4.5 million in private funding from Mechanism Capital, Kenetic Capital, Animoca Brands,and others. Creating a testing ground for Diem, and allowing for the public permissionless development of new protocols and communities will prove beneficial to the blockchain industry as a whole. With an operational Pontem Network testnet built on Substrate, developers can now begin to build applications that can easily be ported to the Diem Blockchain.

About Pinknode

Pinknode is a Polkadot-only Infrastructure-as-a-Service provider with the goal of accelerating adoption and empowering innovators to easily build Web 3 apps without having to worry about managing node hardware and software. By providing API endpoints through a streamlined onboarding process and maintaining secure, reliable and scalable node infrastructure, Pinknode helps innovators jumpstart development quickly and accelerates product life cycles.

About Pontem

Pontem, founded in 2020, is building a public and permission-less version of the Facebook-backed Diem Blockchain, a much-anticipated digital currency and blockchain ecosystem that is slated for release later in 2021. This will expose Facebook’s 2.7 billion users to any crypto use-case, from decentralized finance (DeFi) to non-fungible tokens (NFTs).
With Pontem Network (a Polkadot Substrate-based chain) users can build and test apps on Polkadot and other popular blockchains before migrating their products to the Diem Blockchain.

Pontem’s vision is to establish itself as the leading experimentation network for the Diem Blockchain, thus essentially becoming not only a bridge for liquidity, but also a “Kusama for Diem.” This dovetails perfectly with Pinknode’s ability to connect dApps to the current Kusama network using highly efficient, customised Pinknode-powered code.
The existing Kusama blockchain has gained a reputation for being fertile grounds for cultivating early stage startups
Thus, Pontem’s journey to achieve the Kusama business model for Diem is nothing short of ambitious — which is why Pinknode is honored to help it make this vision a reality.

Do not forget to join our Telegram Chat not to miss AMA and other latest news!👇

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  1. Blockchain fees. Most NFTs are issued on the Ethereum blockchain, where you have to pay for gas. NFT minting involves a complex smart contract and thus requires a lot more gas than simply sending crypto. Plus, the gas has been very expensive in the past few months, so you can expect to pay at least $50–100 in gas fees per NFT collection.
  2. Marketplace fees. While you can issue an NFT on your own, it will be hard to promote it and find buyers. That’s why most creators work with NFT marketplaces like OpenSea and Rarible. And while minting NFTs on OpenSea is technically gasless and free, there is a gas fee to initialize a seller account and accept a bid from a buyer — expect to pay around $150 in total. On Rarible, the costs can exceed $600.
  • Facebook has almost 3 billion monthly active users, giving Diem the largest potential audience of any blockchain project on earth;
  • The stablecoin will probably get integrated into transactions on Facebook, Instagram, Messenger, and Whatsapp (shopping, paying for ads, sending money to friends etc.);
  • Facebook can afford to hire the best developers and marketers, so the execution and promotion will be top-notch;
  • Diem’s programming language, Move, is safe, flexible, and well-suited for writing smart contracts;
  • It should be possible to add third-party dApps to the Diem ecosystem — think of WeChat with its thousands of mini programs, but on blockchain.

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