The Pocket Network protocol incentivizes a decentralized network of RPC nodes to relay data from supported blockchain networks to the end users of decentralized applications (dApps). In this manner, the Pocket Network is decentralizing Web3 access and making the infrastructure more scalable and efficient.
Pocket Network’s multi-chain relay protocol functions as the TCP/IP of Web3 node infrastructure. As of January 2023, its infrastructure supports leading blockchain networks such as Ethereum, Avalanche, Harmony, Polygon, BNB Chain, Moonbeam, Moonriver, Klaytn, Optimism, Algorand, Solana, NEAR Protocol, Fantom, and more.
POKT is the native token of the Pocket Network and is used to offer incentives to remote procedure call (RPC) nodes. dApps can send their RPC requests to the Pocket Network’s globally distributed network of nodes. These RPC node runners relay the requested on-chain data from supported blockchains back to dApps and earn rewards in POKT tokens for their efforts.
The technology brings about true decentralization in Web3, challenging more centralized Web3 infrastructure. In addition, it lets dApp developers deploy their dApps without worrying about setting up and maintaining nodes, which could be an expensive proposition. In this manner, the Pocket Network makes Web3 far more accessible, affordable, and scalable.
Users can also stake $POKT tokens on nodes that relay RPC requests. Token holders can operate their own nodes, pay someone in POKT to run a node, or join a staking pool to earn rewards and grow their holdings in the token.