The 3 Biggest Things Crypto Companies Spend On (& How OnFinality Helps)

In a recent survey done by DeFiprime, the largest recurring spends from crypto companies were found to come from RPC nodes/AWS/Hosting.

DeFiprime.com is a media outlet and analytical services provider for the DeFi community. Its mandate is to inform, educate, and connect the community as the definitive source of news dedicated to decentralised finance space.

In a recent survey conducted by DeFiprime on Twitter, it was found that the largest recurring spends by crypto companies come from infrastructure-related costs, such as RPC nodes/AWS/Hosting.

Infrastructural costs ranked top above costs like ‘Marketing/Events’ which can easily add up to a whopping five-figure digit and above each time (think Google ads, event sponsorship costs, flights, accommodation…). And yet, operational infrastructure still costs more.

Why So?

We are developers ourselves, so we know how expensive setting up blockchain infrastructure can be. The list could go on, but here are two common examples:

• It’s extremely costly to run a full node nearly continuously, especially when your dApp is new, and traffic is low and inconsistent.
• Running production-level infrastructure is especially tricky. You need to autoscale quickly to handle bursty traffic, and you want to provide services in different regions around the world to provide low latency services — all of this is incredibly costly, but comes with significant economies of scale for a service provider like OnFinality.

While payroll was not part of the survey, it is critical to note the time (and money) that goes into hiring the right DevOps to manage your infrastructure for you.

First off, you’ll need the right people

Setting up infrastructure from scratch requires a level of server development expertise that many do not have (knowledge of SSL certificate handling, WebSocket management, firewall configuration, and even more to set up, run, and monitor a production node.)

Still, your developers time could be better spent developing the core product

On top of it all, DevOps requires constant attention — time that would be better spent elsewhere building something.

How much time and money can OnFinality save for developer teams?

Besides saving developers time, OnFinality saves teams money in the long run while allowing them to focus on their core product.

Don’t take our word for it, hear from one of our customers:

“We divided by about 5x times our infrastructure cost while running more nodes. I would estimate that we have saved at least a dozen hours a month in simply maintaining our nodes. We probably saved a lot more if you consider the autonomy gained by the team.”

— Eliott Teissonniere, Chief Technology Officer of Nodle

What Exactly Does OnFinality Do?

OnFinality is a blockchain infrastructure platform that saves web3 builders time and makes their lives easier. We deliver easy-to-use, reliable and scalable API endpoints for the biggest blockchain networks and empower developers to automatically test, deploy, scale and monitor their own blockchain nodes in minutes.

We are already supporting over 60 networks across Layer-1 ecosystems such as Polkadot, Avalanche and Cosmos, and are continuously expanding these mission-critical services to other ecosystems to help developers build the decentralised future, faster!

Staying On Top Of The Game With Only Premium Service Providers

Previously supporting Amazon Web Services (AWS) and Google Cloud Platform (GCP), we’ve recently announced our collaboration with Alibaba Cloud, a world-leading cloud service provider, to offer their cloud computing products, strong global network and technology expertise to web3 developers looking to scale globally.

To ensure that customers stay confident in our systems and service, we make sure to only work with top cloud service providers that support us in delivering a global performance, automated scalability and a high reliability of 99.9% uptime to our users all year round.

Likewise, this addition will allow OnFinality users to leverage Alibaba Cloud’s reliable and secure cloud computing and data processing capabilities when deploying blockchain nodes via the OnFinality App across the various ecosystems.

What Are The Benefits Of Using OnFinality?

By integrating with OnFinality, dApp developers will be able to

• Access any of the 45 networks we support quickly in minutes without having to set up or manage infrastructure
• Enjoy all the benefits that come with OnFinality’s Enhanced API including global performance, automated scalability and high availability of up to 99.9% uptime per year!
• Gain valuable API Insights for you to spot issues on your apps and quickly implement rectifications for a bug-free user experience

Log in to the OnFinality app to access the Enhanced API Service now!

In addition to the API service, OnFinality also provides the ability for participants across multiple Layer-1 ecosystems to rapidly deploy and manage nodes via any of our supported cloud providers across five regions worldwide.

Benefits Of Deploying Nodes Through OnFinality

• Easy — Deploy Dedicated Nodes easily and quickly via our on-demand node deployment service without worrying about setting up hardware from scratch
• Scalable — Upsize and downsize your nodes easily in a few clicks!
• Cost-Efficient — Pay for only what you need. You no longer have to buy or set up your own hardware or make tools to monitor your node’s health and performance
• Visibility — Simply connect to our Node Metric Endpoint for automated monitoring and alerts on your node’s health

You can now log in to access over 60 supported networks in the OnFinality Marketplace!

For all the information about how to jumpstart using OnFinality and start running nodes, you can follow this documentation.

Invitation To Build the Web3 Future Together

Our mission is to support all blockchain teams in the world by providing mission critical, reliable and scalable infrastructure so you and your dev teams can focus on building the decentralised future, faster.

Since our founding in 2019, OnFinality has served over 265 Billion requests to some of the largest web3 projects across over 60 networks including Polkadot, Avalanche, and Astar and we will be adding further integrations in our goal to be a leader in multi-chain infrastructure.

“We’ll continue to scale our services to help all types of web3 developers and teams, be it GameFi, DeFi, Metaverse, achieve their goal of building the decentralised future, faster.”

— James Bayly, Chief Operating Officer of OnFinality

If you are looking to deploy via OnFinality, get in touch to discuss your requirements and see how our feature-rich app can help you build your next dApp or network. You can reach us at sales@onfinality.io or via our website.

Build Smarter with OnFinality.

About OnFinality

OnFinality is a blockchain infrastructure platform that saves web3 builders time and makes their lives easier. OnFinality delivers scalable API endpoints for the biggest blockchain networks and empowers developers to automatically test, deploy, scale and monitor their own blockchain nodes in minutes. To date, OnFinality has served over 265 billion RPC requests across 60 networks including Polkadot, Kusama, Moonbeam, Astar, Avalanche and Cosmos, and is continuously expanding these mission-critical services so developers can build the decentralised future, faster!

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