We are proud to announce our strategic partnership with breakout middleware solution for Web3.0, Pocket Network! Pocket Network’s mission of providing true decentralization aligns with our mission to facilitate the growth of Web3.0 and DeFi applications. As POKT token holders and node runners, we look forward to working with Pocket and its existing supporters including likes of Blockchain.com, Eden Block, DACM, Zee Prime Capital, Park Capital and Monday Capital.
This partnership not only sees us acting as active participants in the network by holding POKT tokens and running nodes, it also sees us Pocket’s key partner in China, leading its expansion in the Chinese market, including developer community growth, content localization, media partnerships and strategic partnerships with key projects and protocols.
We are excited to be working with such a capable team, who has integrated with such projects as EtheresJS, MyCrypto, and Centaur.
Why the partnership with Pocket Network?
As it stands, app developers in the blockchain space have very few options in the way of service providers, bringing uncertainty and a risk of single points of failure..
Currently, more than one-third of Ethereum nodes are hosted on centralized providers such as AWS (Amazon Web Services), which means the Ethereum network is at risk of delays or interruptions. We need only to look to the end of last year, when Infura’s mainnet outage occurred, to see that this sort of problem can unfold, and the issues it brings.
Pocket Network is committed to solving this problem as a truly decentralized relay network compatible with various blockchain protocols. It aims to challenge the monopoly of centralized infrastructure providers with lower costs, flexible design and unique governance mechanisms. Pocket Network launched its mainnet in July 2020. Just as Uber cut the middleman between drivers and passengers, Pocket Network aims to do the same for blockchain-based applications and full-node operators.
With its tokenomics based around incentivization for node runners, it can easily scale a decentralized system that powers mobile and web apps, without being subjected to stresses experienced by a centralized solution.
We are proud to stand alongside Pocket and forge the path towards a TRULY decentralized Web3.0.
About Pocket Network
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. Applications are deployed to a network of thousands of nodes that are coordinated by a trustless protocol and powered by POKT.
RedBlock is a digital investments firm that advises and invests in global blockchain projects. It invests strategic capital across the entire blockchain stack with a special focus on Web 3.0 infrastructure and decentralized finance. RedBlock works with its portfolio companies in new market entries, particularly into APAC, as well as tokenomics design and growth initiatives. RedBlock’s core team comes from a background in venture capital, investment banking and software development and are experienced market participants in the blockchain sector.