Like retail, middlemen SaaS companies are being replaced! With blockchain technology gaining popularity, middleware blockchain protocols are taking over.
Cryptocurrencies and the wider blockchain ecosystem are helping change the status quo of how we conduct our day-to-day lives. With these emerging technologies, Web3 is being ushered in as a permissionless and open innovation using middleware blockchain protocols. By doing so, they’re replacing middlemen software-as-a-service companies by capturing value at a greater level.
But, how does this work? On a middleware protocol, developers can stake the native token once for the equivalent network bandwidth for the lifetime of that stake. The longer applications are staked and using the network, the closer the cost approaches zero. After several months, the service is basically free, and with staking-based tokenomics, there are no monthly costs such as with SaaS fees.
This is noted by the fact that the Graph’s subgraph indexers need to ping a base-layer Ethereum archive node, which can be costly to run and maintain. To save money, indexers can leverage a middleware protocol’s RPC endpoints, giving users maximum uptime and no single points of failure. With Livepeer’s orchestrators, they need to ping a base-layer Ethereum full node, which also brings monthly costs to run and maintain.
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