Pocket Network is a blockchain data platform built for applications that uses cost-efficient economics to coordinate and distribute data at scale, enabling seamless interactions between blockchains and applications. The network runs on a Proof-of-Stake (PoS) consensus mechanism that offers scalability and data consistency for applications.
POKT is the native utility token that is used for * Running validator nodes on the network via staking POKT tokens * Receiving network throughput via staking POKT tokens * Fees for processing transactions and storing data.
There are multiple ways to connect to Pocket Network as an application ranging from quick and simple to fully customizable:
Pocket Portal provides decentralized endpoints in a matter of a few clicks. Our free tier starts at 1M requests per day for applications.
PocketJS allows developers to integrate the way they want. Bring your own stake and make your infrastructure as redundant and private as you please.
Other tools on Pocket Network include:
What Makes Pocket Network Unique?
From it’s launch onwards, Pocket Network has stressed decentralization in its truest form. Pocket Network is the first decentralized infrastructure project that can reliably serve applications and decentralized projects of all sizes. Our network of thousands of full nodes boasts minimum downtime, dramatically lower costs, and maximum privacy for end-users.
How Many POKT Coins Are There in Circulation?
Pocket Network launched its mainnet on July 28th, 2020 with 650M POKT tokens created at genesis. Unlike most traditional block rewards, Pocket Network’s is dynamic; POKT rewards are directly proportional to the number of relays and transaction fees in a given block. 89% of minted POKT goes to service nodes, 1% goes to validator nodes, and 10% to the Pocket Network DAO that governs the protocol.
Why is Pocket Network important?
Pocket Network addresses the inconsistency of accessing decentralized networks through a handful of centralized service providers - an existential risk to Web3.0. The founders realized this problem after experimenting with Ethereum in 2016 and have been designing and building how to do infrastructure the right way: decentralized.
Michael O'Rourke - Pocket Network and the Future of Web3 Infrastructure
August 5, 2021