Pocket Network

Pocket Network

POKT
$0.135946445%3.05

Key Metrics

Price$0.135946445
Real Volume (24H)$1,136,483.76
Marketcap$222,863,240.59
Fully Diluted Valuation$90,848,767
ATH$3.11
ATH Date1/16/2022, 7:15:26 AM
ATL$0.03827112
ATL Date11/14/2022, 5:34:33 AM
Circulating Supply1.4B
Total Supply1.6B
WebsiteN/A
WhitepaperN/A
Popularity Rank300
Chart
What is Pocket Network?

Pocket Network, also known as POKT, is a decentralized blockchain data platform that aims to connect any blockchain to service the data demands of Web3 decentralized applications (dApps). The network uses a cost-efficient economic model to coordinate and distribute data at scale, using the POKT token to facilitate the protocol's service.

The network is made up of nodes that act as the middle layer connecting 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, which offers scalability and data consistency for dApps.

One of the unique features of Pocket Network is its ability to address the issue of centralization in the RPC layer of the Web3 stack. The founders of Pocket Network identified this problem after experimenting with Ethereum in 2016 and realized that there was a paradox of accessing decentralized networks through a handful of centralized service providers. This paradox poses an existential risk to Web3 and was the driving force behind the creation of Pocket Network.

From its launch, Pocket Network has stressed Web3 principles in their truest forms. It is the first decentralized infrastructure project that can reliably serve applications and projects of all sizes. The network's global network of thousands of full nodes now services the data demands of more than 50 different blockchains and provides 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 version 1 of the protocol will allow for even greater scaling potential, with a focus on quality of service across all nodes in the network.

Pocket Network is designed to provide a cost-effective and efficient solution for the data needs of decentralized applications. One of the key features of Pocket Network is its ability to connect to any blockchain, allowing developers to access data from multiple chains without having to rely on centralized service providers.

The network operates on a Proof-of-Stake consensus mechanism, which offers scalability and data consistency for dApps. This allows developers to build and launch their dApps on the network without having to worry about the scalability and data consistency issues that can arise when using centralized service providers.

Another unique aspect of Pocket Network is its focus on privacy and censorship-resistance. The network's architecture ensures that data requests are distributed among multiple nodes, making it difficult for any single entity to control or censor the data that is being accessed by dApps.

Pocket Network is also designed to be easy to use for developers. The network provides a simple API that allows developers to access data from multiple blockchains with just a few lines of code. This makes it easy for developers to integrate Pocket Network into their dApps and take advantage of the network's scalability, data consistency and privacy features.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.

Try for Free

Top Assets

AssetPrice24HMcap
Loading...

We use cookies for personalization, social media, and analytics, and share usage data with partners.