Pocket Network — Decentralized Relays
Web 3.0 promises to reshape web infrastructure by harnessing decentralized technologies to facilitate a more democratic technology stack whilst preserving anonymity, security and privacy of individuals.
But as the infrastructure that composes Web 3.0 is being built, nurtured and discoursed to the general public, a drawback is being encountered; an increase in the centralization of infrastructure. This means using Web 3.0 DApps is actually less private (depending on the network being used). Pocket Network (POKT) is aiming to tackle this issue.
A Decentralized Relay
Pocket Network is a truly decentralized relay network providing accessibility to several decentralized networks — plus it provides dramatically higher privacy than centralized alternatives. Like P2P technologies removing middlemen between users, Pocket Network aims to do the same for blockchain-based apps and full node operators.
What Pocket Network Solves
Pocket Network improves the productivity and functionality of Web 3.0 DApps by addressing primary challenges associated with connecting to decentralized infrastructure like dependability, cost-effectiveness and decentralization.
Pocket Network supports remote procedure call (RPC) access so it can relay requests to and from a variety of networks.
Through innovative tokenomics, Pocket Network helps application developers save money while also growing the overall crypto economy.
How Pocket Network Works
Pocket Network consists of node operators and DApps. Node operators earn POKT for servicing API requests and Dapps stake POKT to send their RPC.
Pocket Network serves as an RPC middleware between major blockchain networks and the DApps. The two interact with one another and the nodes serve as a conduit between them. Nodes processes API requests between networks and DApp..
A session generation algorithm regulates the communication between DApps and nodes by pseudo randomly assigning a group of five nodes to a DApp. These nodes provide the DApp with RPC access to their desired chain.. During their interaction with a DApp, nodes are paid in POKT according to the number of serviced requests.
By connecting DApps with multiple psuedo random nodes each session, users are protected from tracking. DApps that use the Pocket Portal for their RPC endpoints, getting an added layer of privacy through further obfuscation. While centralized infrastructure providers collect user data, Pocket is fundamentally making privacy a core feature.
Decentralization and redundancy are provided through the replacement of nodes on a regular basis and the provision of backups in the event that a node fails to report any response. This also ensures that each node has an opportunity to take part in the following session.
DApps must stake POKT tokens (or make use of services like Pocket Portal) to benefit from the huge redundancy of Pocket Network’s node pool.
The stake size determines the amount of bandwidth available to each DApp. Validators who want to provide infrastructure services must stake POKT as well and run nodes for the blockchains they want to service, like BSC, Ethereum, Polygon, Solana, etc. The maximum number of relays per POKT changes over time
The stakes placed by nodes are meant to make sure that they carry out their responsibilities properly. Validators who are regularly unavailable or return inaccurate data will have their stake reduced. The protocol directly enforces this.
The Pocket DAO, a decentralized autonomous organization governed by Pocket Network users (i.e. Node operators and DApp developers), is in charge of making Pocket Network protocol upgrades, ecosystem expansion and economic policies. This is done by vote processes and proposals.
WallStreetNinja uses Pocket Network to interact with several other networks. By using Pocket Network, we no longer have the need for Web 3.0 plugins.
About WallStreetNinja
WallStreetNinja (WSN) provides users simplified access to a decentralized ecosystem’s chain of their choice from a single web app. WSN is taking the self custody wallet segment to the next level through decentralized computing and blockchain relays.
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