How Pocket Network is Driving Growth for Web3

Pocket Network – an infrastructure middleware protocol which facilitates decentralized cloud computing and abundant bandwidth on full nodes interoperable with DApps across all 21+ blockchains, doubles down on its market-based approach to infrastructure by incentivizing a global community of independent node operators and service providers running 21,000+ nodes adding to the network’s resilience.

Pocket Network is secured by over $320M worth of network infrastructure distributed globally across 23 countries and reduces the risk of service downtime to near zero for any layer 1 or industry DApps as work is distributed evenly across thousands of full nodes, which also protects end users’ privacy.

Pocket Network, has last week closed a strategic round led by Republic Capital, RockTree Capital, Arrington Capital, is undergoing exponential growth as demand for its network measured in API calls or relays jumped to 5.78 Billion relays in December, up 44% From November 2021.

“Pocket is the First Mover, changing the game as core infrastructure for the Web3 revolution” said Omer Ozden, CEO of RockTree Capital “For those that are seeking the next high growth first mover like AWS or Ethereum, you can see transparently on-chain the parabolic growth of actual usage and of actual revenues of the Pocket Network. The metrics have been super impressive and we look forward to the scaling 2022 will bring.”

Pocket Network has generated $56m revenue in December up from $29m in November and currently supports over 2000+ DApps run across its network which is integrated with Solana along with Ethereum, Polygon, Avalanche, Binance, Harmony, Gnosis (formerly xDai), Fuse and many more.

“There is increased investment in public, open-source infrastructure through crypto networks that continues to chip away at the dominance of today’s providers, reducing them to commodities,” said Michael O’Rourke, CEO at Pocket Network “Our attractive economic flywheel model for our network is simple and naturally drives growth – attractive node running incentives adds more nodes which in turn creates more redundancy and better DApp service experience, more DApp usage then generates more node revenue.”

Pocket meaningfully encourages and incentivizes niche cloud providers which commercially have been less viable over the last decade with massively well known incumbents dominating the traditional market, and aims to provide Web3 with a much more compatible infrastructure network.

ChannelDrive Bureauhttp://www.channeldrive.in
ChannelDrive Bureau covers the latest developments in the space of ICT, technology, solutions and implementations and delivers content focused around solution providers, system integrators, distributors and technology partner community in India. ChannelDrive Bureau is headed by Zia Askari. He can be reached at ziaaskari@channeldrive.in

Recent Articles

MatchLog raises $3 million to decarbonise shipping industry

MatchLog, a digital first container logistics optimisation platform, has raised USD 3 million in its pre-series A round through Blue Ashva Capital, a leading...

Intel Reveals Next US Site with Investment in Ohio

Intel has announced plans for an initial investment of more than $20 billion in the construction of two new leading-edge chip factories in Ohio....

HPE partners with UAE Cyber Security Council to drive youth education

Hewlett Packard Enterprise (HPE) has signed a Memorandum of Understanding (MOU) with the UAE Cyber Security Council to enhance cyber skills training in schools...

UAE’s YAP Picks FSS to Support Global Expansion

FSS (Financial Software and Systems), a global provider of integrated payments and a payments processor announced its collaboration with YAP, the United Arab Emirates’...

RedDoorz Selects Haptik to Elevate Customer Experience

Jio Haptik Technologies Limited, a global conversational AI company, has announced that RedDoorz, Southeast Asia's hotel management and booking platform, has selected Haptik to...

Related Stories

Stay on op - Get the daily news in your inbox