Pocket Network functions as a decentralized platform for blockchain data, offering a protocol designed to link with any blockchain and meet the data requirements of Web3 dApps. It employs cost-effective economic models to manage and distribute data on a large scale, utilizing the POKT token to enable the protocol’s operations.

Serving as an intermediary layer, Pocket Network nodes bridge over 50 supported blockchains with the dApp ecosystems that need chain data. The system operates on a Proof-of-Stake (PoS) consensus mechanism, which provides dApps with scalability and consistent data access.

Pocket Network tackles the centralization vulnerability inherent in the Web3 stack’s RPC layer. The founders identified this issue in 2016 while working with Ethereum, questioning how decentralized applications could rely on centralized RPC providers. To resolve this existential risk to Web3, they built Pocket Network to ensure infrastructure remains truly decentralized.

Since its launch, the project has adhered strictly to Web3 principles. It stands as the first decentralized infrastructure initiative capable of reliably supporting projects of any scale. Currently, a global network comprising thousands of full nodes serves over 50 distinct blockchains, offering developers consistent uptime, optimized service quality, user-friendliness, and strong privacy and censorship resistance.

The network has also demonstrated efficient scaling, processing more than 1 billion data relays within a single 24-hour period. Looking ahead, the planned v1 protocol update aims to enhance scaling capabilities further, with an emphasis on maintaining quality of service across all nodes.

POKT serves as the native utility token for the Pocket Network ecosystem, functioning for both node runners and Web3 developers. Its primary uses include:

• Staking nodes to handle blockchain data requests and receive POKT rewards
• Allowing developers to stake POKT tokens to gain network throughput through the Pocket Portal

By using the Pocket Portal, developers can link their applications to Pocket Network’s decentralized infrastructure. The Portal enables quick setup of decentralized endpoints and includes a free tier that provides 1M data relays per day.

Whether you intend to stake POKT for node operation, utilize it on the developer Portal, or invest in decentralized infrastructure, you can buy the token on various global exchanges. Consult the Pocket Docs for further details on how to purchase POKT.

Pocket Network initiated its mainnet on July 28th, 2020, establishing 650M POKT tokens at genesis. In contrast to standard fixed block rewards, the network employs a dynamic minting model where the quantity of newly created POKT corresponds directly to the volume of data relays and transaction fees within each block. These rewards are distributed among service nodes, validator nodes, and the Pocket Network DAO, which oversees protocol governance.