Pocket Network

What is Pocket Network?.

Pocket Network, which trades under the ticker POKT, is a middleware protocol for Web3 infrastructure. It operates by harnessing the blockchain capacity from a vast network of tens of thousands of nodes spread worldwide. The project was established in 2017 with the goal of tackling the growing centralization of blockchain data providers. By utilizing Pocket, applications that rely on blockchain data can easily integrate the protocol using familiar software development techniques such as remote procedure calls (RPC).

Pocket Network creates an open marketplace that connects node service providers with consumers, forming a permissionless two-sided ecosystem. This marketplace operates independently from application developers, enabling them to concentrate on creating exceptional software without worrying about the underlying infrastructure. Pocket Network stands ready to deliver the required data to both developers and their users. Currently, it handles hundreds of millions of queries on a daily basis and facilitates interactions across nearly forty different blockchain networks, including Ethereum, Harmony, Solana, Avalanche, BSC, Gnosis Chain, Polygon, and more.

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Recent Video Interview

Main points of the interview:

• Pocket Network provides blockchain access for 47 chains in a decentralized manner.
• Journey from mobile engineering to leading Pocket Network.
• Pocket Network's privacy preservation and cost efficiency compared to competitors.
• The network's scalability, handling up to 1.5 billion requests daily.

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What Makes Pocket Network Special?

The RPC layer of the Web3 stack has long faced a significant challenge: centralization. The founders of Pocket Network recognized this issue when they experimented with Ethereum in 2016. It seemed contradictory to build decentralized applications on a layer of centralized RPC providers.

Pocket Network aims to resolve this paradoxical situation where decentralized networks are accessed through a limited number of centralized service providers, which poses a substantial risk to the Web3 ecosystem. Recognizing this risk, Pocket Network was conceived and developed with the goal of establishing Web3 infrastructure in a truly decentralized manner.

Since its inception, Pocket Network has consistently emphasized the core principles of Web3. It stands as the first decentralized infrastructure project capable of reliably supporting applications and projects of all sizes. With a global network comprising thousands of full nodes, Pocket Network caters to the data requirements of over 50 different blockchains. It offers developers uninterrupted service, optimized quality of service, user-friendly integration, and enhanced privacy and resistance to censorship.

 

Furthermore, Pocket Network has achieved efficient scalability, surpassing the significant milestone of servicing over 1 billion data relays within a 24-hour period. The forthcoming v1 of the protocol will unlock even greater potential for scalability while maintaining a strong focus on ensuring quality of service across all network nodes.

Pocket Network Team Background

The CEO and co-founder of Pocket Network is Michael P O'Rourke. He has experience working as an iOS and Solidity developer. Additionally, he is the founder of the Tampa Bay Blockchain Developer's Meetup. O'Rourke was also a developer for Eleven Systems.

Pocket Network Project Development

The roadmap for Pocket Network in 2023 includes development on:

• Pocket CoS (Cloud of Services): Launch an incentivized Testnet. Conduct load testing, chaos testing, and identify attack vectors on the Testnet. Foster community contributions to drive automation. Explore ways to enhance the platform.
• Pocket IoS (Innovate or Skip): Make necessary feature cuts and realignments for the V1 Mainnet launch. Research and develop Pocket-specific use cases for innovation and optimization. Provide support for general-purpose relays.
• Pocket FoS (Finish or Serve): Resolve critical bugs that may hinder the launch. Identify and address any technical debt. Prepare post-Mainnet launch plans. Successfully launch V1 Mainnet.

Pocket Network Price Analysis

As of November 24 2024 Pocket Network has a marketcap of $90M. This is {{percentagefromath}} from its all time high of $3.11. In terms of its tokenomics, there's a total supply of 1.7B with 98% currently outstanding. Keep in mind Pocket Network has a fully diluted value of $92M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.