Pocket Network is a data platform based on blockchain technology that caters to the needs of Web3 and decentralized applications (dApps). Its decentralized infrastructure serves as a connection between more than 40 supported blockchains and their respective dApp ecosystems. The platform was launched in July 2020 and has quickly established itself as a significant player in the blockchain field by tackling the centralization concerns in the RPC layer of the Web3 stack.
The blockchain ecosystem has long been reliant on a limited number of centralized service providers for accessing decentralized networks, which is a critical paradox. Pocket Network has stepped in to offer a decentralized alternative that provides reliable, scalable, and private infrastructure to applications and projects of all sizes. The network has thousands of full nodes that service the data needs of over 50 different blockchains, ensuring developers have constant uptime, optimized quality of service, and maximum privacy, all while combating censorship.
Pocket Network's mechanics are both efficient and elegant. Service Nodes powered by the POKT token relay data between blockchains and applications, operating in a distributed manner that ensures load balancing and reduces the need for additional infrastructure to handle traffic surges. The network's unique 'Session' data structure facilitates an equitable distribution of work among Service Nodes, enhancing the network's resilience and efficiency.
The staking and inflation mechanisms of Pocket Network are designed to optimize resource allocation. By tying rewards directly to inflation and reducing the frequency of on-chain fee payments, the network ensures a sustainable and balanced economic model. This incentivizes node operators and lowers the barrier to entry, enabling professional infrastructure providers to participate and contribute to the network's growth.
POKT has a total supply of 1,637,686,745. The current circulating supply of POKT is 1,521,517,215.
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