First, it offers a revenue incentive for new node runners to start operating right away. The new strategy works on two main fronts. However, there are key elements to evaluate and work with to make sure the onboarding goes smoothly. One key change that supported this growth was the new onboarding strategy: “ Settlers of New Chains.” The more blockchain APIs Pocket can integrate into its solution, the more growth it will experience.
The growth in relays led to more than 138 million $POKT tokens minted and over 18K nodes staked across 17 countries. In 2021, Pocket grew to serve 13.9 billion relays, reflecting a 25.8x increase in application relays from 2020. Pocket has attracted investment from leading venture capital firms and tremendous user growth. Pocket experienced exponential growth in 2021, servicing 13B+ relays This system reduces ongoing costs for developers while creating more use-cases by holding $POKT. At the same time, node runners, when servicing relays for applications, get rewarded with $POKT for their work.ĭevelopers that want to link to blockchain data from their applications also need to buy and stake $POKT to have a guaranteed amount of API requests (relays) per session for the life of the stake. Even though the initial cost may seem higher than alternatives, it is an investment that will significantly reduce costs over time due to the near-zero economics placed into the system.Īs time goes by, the maintenance cost of using Pocket reduces, creating long-term incentives for its use and becoming a much more cost-efficient alternative. Node runners need to buy $POKT and stake it (at least 15,000 $POKT with possible additional tokens for reassurance). At the center of the marketplace is Pocket’s native token: $POKT. Pocket created a double-sided marketplace, where applications developers can access data at a fraction of the cost, while node runners guaranteeing the servicing of data get rewarded for it.
$POKT is the incentive ecosystem for Pocket Network to fulfill its goal In essence, Pocket acts as the middleman between applications and blockchains by creating a solution that unifies the infrastructure needed for transmitting data.
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Pocket is tackling this issue from the get-go by introducing a solution that guarantees full decentralization of data pulled from every blockchain while creating incentives for users to execute that work. Until now, Web 2 solutions connected to APIs in a centralized manner, raising risks for decentralized projects. Many of the popular applications in crypto for DeFi, NFTs, or DEX trading need to pull data from different blockchains, which requires building unique infrastructure to accommodate several APIs. How Pocket uses decentralization to boost crypto’s multi-chain future Much like the internet in the ’90s, the next wave of solutions in the crypto space is working on the common goal to make applications work as integrated as possible, making it a great experience for the end-user. Until Pocket emerged, crypto faced one of its biggest setbacks to streamline data transmission between blockchains and applications: decentralization and incentives.įor crypto’s mainstream adoption to occur, the underlying protocols and applications must serve the end-users and work seamlessly regardless of the networks that operate under. Pocket Network is the missing piece of the puzzle for crypto’s mainstream adoption. Learn more about how Pocket solves crypto’s multi-chain challenge while creating a new economic model with incentives for all parties.
From now on, analysts, investors, and the community at large have an additional avenue to follow Pocket’s growth into mainstream awareness. Pocket Network is thrilled to join Token Terminal, a leading crypto fundamental data tool, revealing the outstanding growth of our protocol through pivotal market metrics. Pocket Network joins Token Terminal as a top 5 revenue protocol
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