Pocket Network is redefining the way decentralized applications interact with blockchains. As a decentralized blockchain data platform, Pocket Network connects Web3 dApps to over 50 supported blockchains, ensuring unparalleled scalability and data consistency. Utilizing its native utility token, POKT, the protocol operates on cost-efficient economics to coordinate data distribution at scale. With nodes serving as the middle layer, Pocket Network circumvents the centralized bottlenecks that have long plagued the RPC layer of the Web3 stack. This innovative structure not only provides constant uptime and optimized quality of service but also emphasizes privacy and censorship resistance, making it a robust choice for developers and their diverse ecosystems.

Dive deeper to discover how Pocket Network is setting new benchmarks in decentralized infrastructure.

What Is Pocket Network (POKT)?

Pocket Network is a decentralized blockchain data platform—a protocol designed to connect to any blockchain and meet the data demands of Web3 decentralized applications (dApps). Pocket Network leverages cost-efficient economics to coordinate and distribute data at scale, using the POKT token to facilitate the protocol's services.

Pocket Network nodes serve as the middle layer that bridges the protocol's 50+ supported blockchains with their ecosystems of dApps that require data from the chain. The network operates on a Proof-of-Stake (PoS) consensus mechanism, offering scalability and data consistency for dApps.

What Makes Pocket Network Unique?

The RPC layer of the Web3 stack has long been vulnerable to a significant issue: centralization. The founders of Pocket Network identified this problem after experimenting with Ethereum in 2016. How can decentralized applications be built on a layer of centralized RPC providers?

Pocket Network addresses this paradox of accessing decentralized networks through a handful of centralized service providers—a paradox that poses an existential risk to Web3. Recognizing this risk, Pocket Network was designed and built to do Web3 infrastructure the right way: decentralized.

From its inception, Pocket Network has emphasized Web3 principles in their purest forms. Pocket Network is the first decentralized infrastructure project that can reliably serve applications and projects of all sizes. Our global network of thousands of full nodes now services 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.

Pocket Network has also scaled efficiently, reaching and surpassing the milestone of more than 1 billion data relays serviced in a 24-hour period. The future v1 of the protocol will allow for even greater scaling potential, focusing on quality of service across all nodes in the network.

What is POKT Used For?

POKT is the native utility token used on both sides of the Pocket Network ecosystem—with node runners and Web3 developers. The token is used for:

• Staking nodes on the network to service blockchain data requests and earn POKT rewards.
• Accessing the Pocket Portal, enabling developers to get network throughput via staking POKT tokens.

Developers can use the Pocket Portal to connect to Pocket Network and start using decentralized infrastructure for their applications. The Portal provides decentralized endpoints in just a few clicks and offers a generous free tier of 1 million data relays per day.

Where Can I Buy POKT?

Interested in staking POKT to run a node, using it to access our developer Portal, or simply investing in the future of decentralized infrastructure? POKT is available for purchase on multiple global exchanges. For more information about purchasing POKT, see the Pocket Docs.

How is POKT Generated?

Pocket Network launched its mainnet on July 28th, 2020, with 650 million POKT tokens created at genesis. Unlike most traditional block rewards, Pocket Network’s rewards are dynamic; the amount of POKT minted is directly proportional to the number of data relays and transaction fees in a given block. The rewards are divided between service nodes, validator nodes, and the Pocket Network DAO that governs the protocol.

Pocket Network Market Data

Understanding the market dynamics of POKT is crucial for both developers and investors. Here are some key statistics:

• Current Price: $0.1760
• Market Cap: $288,537,762.49
• 24h Price Change: -2.79%
• 7d Price Change: -25.57%
• 30d Price Change: -23.52%
• 24h High: $0.1891
• 24h Low: $0.1757
• All-Time High: $3.0999 (2022-01-16)
• All-Time Low: $0.0212 (2023-09-11)
• Circulating Supply: 1,639,345,851.00
• Total Supply: 1,683,071,360.00

The Future of Pocket Network

Pocket Network is not just a solution for today’s decentralized infrastructure needs but also a visionary project aimed at future-proofing Web3. The upcoming v1 of the protocol promises even greater scaling potential and a focus on quality of service across all nodes in the network. This future iteration will further solidify Pocket Network's position as a leader in decentralized infrastructure, ensuring that developers have the tools they need to build robust, scalable, and censorship-resistant applications.

Conclusion

Pocket Network is setting new benchmarks in decentralized infrastructure by addressing the critical issue of centralization in the RPC layer of the Web3 stack. With its innovative use of the POKT token, cost-efficient economics, and a global network of nodes, Pocket Network offers a reliable, scalable, and privacy-focused solution for developers. Whether you are a developer looking to leverage decentralized infrastructure or an investor interested in the future of Web3, Pocket Network provides a compelling proposition.

Explore more about Pocket Network and join the revolution in decentralized infrastructure today.