How Pontem Network Aims To Unlock Facebook’s Diem Full Potential

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There are many initiatives in the blockchain industry that can complement one another rather than serve as competition. For example, the much anticipated Facebook-backed Diem blockchain is a project getting much attention. This single move could almost instantly unlock 3.1 billion users into crypto.

However, this closed-loop approach makes it difficult for developers to gauge the technology, which is where Pontem Network comes into the picture.

Facebook’s Diem Needs More Openness

While it is understandable for a technology giant like Facebook to keep its cards close to its chest, it can also hinder the adoption of the Diem ecosystem. That is because building a permissioned blockchain will always be a double-edged blade. On the one hand, it gives Facebook far more control over who can access products and services. But, on the other hand, it also deters developers from building applications, as there is no “test network” to try new things.

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As Facebook isn’t necessarily inclined to build an open testnet, Pontem Network will provide a good alternative. It is a ‘canary in the mine’ network to Facebook’s Diem, created by team members who have extensive expertise in this ecosystem and other blockchain ecosystems. Making a permission-less version of Facebook-backed blockchain will prove beneficial to global entrepreneurs looking to build new…

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