Pocket Network

Pocket Network (POKT) is a decentralized blockchain data platform that aims to service the data demands of Web3 decentralized applications (dApps). The platform uses cost-efficient economics to distribute data at scale, facilitated by the POKT token. Pocket Network nodes serve as a middle layer, connecting over 50 supported blockchains with their respective dApp ecosystems. The network operates on a Proof-of-Stake (PoS) consensus mechanism, striving to provide scalability and data consistency for dApps.

Pocket Network operates by addressing the paradox of accessing decentralized networks through a limited number of centralized service providers. It aims to provide a decentralized infrastructure that can reliably serve applications and projects of all sizes. The network has thousands of full nodes that service the data demands of more than 50 different blockchains, providing developers with constant uptime, optimized quality of service, ease of use, and maximum privacy and censorship-resistance. The POKT token is used for staking nodes on the network and accessing the Pocket Portal, which allows developers to connect to the network and use decentralized infrastructure for their applications.

Pocket Network seeks to serve as a decentralized infrastructure for Web3 applications and projects. Developers can use the Pocket Portal to connect to the network and start using decentralized infrastructure for their applications. The portal provides decentralized endpoints with a few clicks and provides a tier of 1M data relays per day. The POKT token can be used for staking nodes on the network to service blockchain data requests and receive POKT compensation. It can also be used to access the Pocket Portal for network throughput.

Pocket Network was launched with the aim of addressing the centralization issue in the RPC layer of the Web3 stack. The founders realized this problem after experimenting with Ethereum in 2016 and designed Pocket Network to provide a decentralized solution. The network launched its mainnet on July 28th, 2020 with 650M POKT tokens created at genesis. The amount of POKT minted is directly proportional to the number of data relays and transaction fees in a given block, with the compensation divided between service nodes, validator nodes, and the Pocket Network DAO that governs the protocol.