What is Pocket Network? Pocket Network (POKT) is a decentralized and Blockchain-based data platform focused on the Web3 domain. cryptocoin.com In this article, we have answered the questions asked by investors such as what Pocket Network is, what it offers, what is POKT coin, what it does and how to buy it. Let’s take a closer look at this Blockchain ecosystem that focuses on Web3 dApps.
What is Pocket Network?
Pocket Network is a decentralized and Blockchain-based data platform. This platform can be used to connect to any Blockchain. But the basic use case is to serve data requests of Web3 dApps. The protocol has a cryptocurrency called POKT, which has various functions in its ecosystem. The ecosystem uses this cryptocurrency to coordinate and distribute data at scale. The asset enables Pocket’s Blockchain ecosystem to run much more cost-effectively.
However, the Pocket Network protocol supports more than 50 Blockchain platforms. The project connects these Blockchains with dApp ecosystems that require data from the chain. So Pocket acts as a middle layer at this point. Additionally, it provides various features for decentralized applications (dApps). Accordingly, Pocket provides high scalability and data consistency to dApps. For this, it secures itself with the Proof-of-Stake (PoS) consensus mechanism.
What does Pocket Network offer?
The founders of Pocket Network noticed the issue of centralization after experimenting with Ethereum in 2016. The RPC layer of the Web3 domain has long been centralized. Pocket’s founders are committed to creating a decentralized application at a tier of centralized RPC providers. For this reason, Pocket Network was designed as a completely decentralized platform on Web3. The project’s website describes Pocket as the first decentralized infrastructure that securely serves applications and projects of all sizes.
Currently made up of thousands of different nodes, Pocket Network serves the demands of more than 50 Blockchains. It also offers developers continuous uptime, optimized quality of service, ease of use, high privacy and censorship resistance. However, the network also focuses on efficiency. Accordingly, it can process more than 1 billion data in 24 hours. This shows that it has high scalability.
What is POKT? What does it do?
POKT is the native utility token of the Pocket Network ecosystem. Node owners and Web3 developers can perform various transactions with this cryptocurrency. Accordingly, POKT can be staked by users. Users who stake altcoins have the opportunity to earn income passively. However, developers gain access to the Pocket Portal by staking POKT tokens. Thus, they get a more efficient network.
What is Pocket Network? How to take POKT?
Pocket Network Bybit can be traded on XT.com, MEXC and BTCEX exchanges. Interested investors must be a member of one of these exchanges and follow the purchase steps for POKT.
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