Dear Polkadot community,

We at Crypto APIs are building a robust auto-scalable B2B suite, providing blockchain- and crypto-related products as a service. With a team of 25 engineers, we have already successfully delivered our delvelopment tools to the communities of 12 of the largest blockchains. Now we are looking for a funding of 60,000 USD to build three tools that we will provide free of charge to the Polkadot community.

1. An open-source KMS (Key Management System). We will build an open-source SDK, which allows you to create blockchain-agnostic HD Omnibus wallets, derive addresses, prepare and sign transactions, etc. The private keys, xPriv, etc. (key management) are stored locally and not shared with anyone under any circumstances. Developers can use the other products of Crypto APIs for queries and transactions (read-only data and transact locally signed transactions) if they want to. However, there will be no vendor lock-in and the user can switch to another blockchain tooling and infrastructure provider anytime. This open-source product is an alternative to a paid business wallet, providing maximum independence and security to the user.

2. A pool of shared public Polkadot nodes. The default and initial setup will be for 3 nodes. The more demand we have, the more nodes we will add. We will make sure that users always have their needs covered with industry-level response times. Crypto APIs will offer a free plan to the Polkadot community and to every organization planning to build on the Polkadot network. The nodes will have a Smart Load Balancer for improved efficiency and optimal response time. The shared Polkadot nodes will have a response time lower than 20 ms. The bandwidth will be set at 1 GB/sec. The nodes will be hosted on multiple clouds, utilizing the infrastructure of AWS, Azure, and Google Cloud. Crypto APIs will also make sure that the shared RPC nodes are hosted in multiple regions, starting with the EU, USA, and Asia.

3. Block explorer. We want to provide a block explorer to the Polkadot community. We will integrate the Polkadot network into our Blockexplorer.One along with all other protocols that we support. Blockexplorer.One shows on-chain data only and it is completely free to use.

You can find the complete Spending Proposal here.

We would also like to share with you our detailed Project Plan for Polkadot with milestones, timeline, roles, and budget.

The funding will cover both the development costs and the infrastructure costs that will occur during development. Since we would need to run several nodes before starting the development, we expect a payment in two installments: 50% at the beginning and the other 50% after we successfully deliver all three products.

We would love to hear your feedback and your thoughts on the project. Feel free to leave a comment below, or reach out via email. My email address is martin.hrisoskulov@cryptoapis.io