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 Networks 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 Networks 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.

Pocket Network utilizes a proof-of-stake (PoS) consensus to secure its decentralized infrastructure. dApps accessing the protocol stake POKT when they wish to distribute data to the decentralized endpoints. The RPC request received by the nodes and relayed, processed, and validated using Zero-Knowledge Range Proofs.

Meanwhile, Service Nodes generate a batch of all requests received in a session to a single blockchain transaction on the Pocket Network. The Proofs-of-Relays of such transactions are then valeted by dApps on the client side and other nodes, producing new blocks on the blockchain. After validation of such proofs-of-relays and block production, new POKT gets minted and distributed to Service Nodes as rewards.

Pocket Networks unique incentive design ensures that Service Nodes achieve economies of scale through load balancing at a protocol level. This way, decentralization is rewarded and supported while minimizing the need for buffers, making the distributed infrastructure extremely efficient.

The staking and inflation mechanisms are designed to ensure that resources are allocated more efficiently within Pocket Network. Additionally, the network has low marginal costs, making it easier for dApp developers to access Pocket Networks services and utilize them for the scalable deployment of their solutions.

Pocket Network was founded by Michael ORourke and Luis de Leon in 2017, and its core team comprises people with experience in the blockchain space and high-tech industry. The protocols mainnet launch occurred in July 2020 and supports around 40 blockchains. Its infrastructure can work with any blockchain (RelayChain) that uses the RPC standard.

It is the largest Tendermint network in the market, supporting more than 27,000 nodes since its inception. The node operators within Pocket Network, application partners, and select community members for the Pocket Network, a decentralized autonomous organization (DAO), participate in the protocols decentralized governance.

Strategic users of the Pocket Network include established blockchain companies, such as Blockchain.com, Eden Block, Zee Prime Capital, and Monday Capital. Among its node operators also are well-known businesses in the industry, including Skillz, Rivet, and Chainstack.

At the time of the POKT launch, the developers behind the project had minted a genesis supply of 650 million POKT tokens. From the initial supply, 23.1% was allotted to the founders, while 11.7% was set aside for the pre-seed sale. $POKT tokens were also allocated to the Pocket Network team, reserves, DAO, liquidity provision, seed sale, advisors, and more.

With the rising adoption of Web3 in the crypto industry, investing in projects like Pocket Network, including the POKT crypto, could be a wise decision. As more dApp developers utilize Pocket Network's decentralized infrastructure, the demand for POKT cryptocurrency is likely to increase. This increased demand could potentially drive up the POKT to USD price, making it a valuable crypto asset to hold in the market. Additionally, as Pocket Network expands its support for more blockchain networks in the future, the use of its infrastructure is expected to grow, further boosting the Pocket Network price and making POKT more attractive to hold.

Offering an accurate POKT price prediction is impossible, but several factors drive price action in the Pocket Network crypto. On-chain activity plays a crucial role, as more blockchain networks are supported by Pocket Network and more dApp developers use its technology to relay on-chain data. The mainstream adoption of Web3 and the launch of dApps with real-world and commercial applications also contribute to the need for efficient infrastructure like Pocket Network. Market sentiment is another important driver, with a bullish mood supporting buying activity and a bearish mood leading to sell-offs. Monitoring these factors can provide insights into the Pocket Network price movement.

POKT is the native utility token of Pocket Network and serves several purposes. It is used as a native currency for applications and service nodes to stake on the Pocket Network, granting them access or work allocation on the protocol. POKT is also utilized to pay transaction fees when leader-elected nodes use the Pocket blockchain for peer-to-peer transfer of payments, preventing spam and dust attacks. Additionally, POKT can be traded against other cryptocurrencies to profit from market conditions and volatility. Traders can also choose to hold POKT long-term based on their belief in the future potential of the Pocket Network protocol.

Pocket Network aims to make Web3 more decentralized and accessible. Some companies that can be considered competitors of this protocol include Chainnodes, Chainstack, NodeReal, Ankr, and Velas. Other possible competitors include Infura, QuikNode.io, NOWNodes.io, The Graph, and Alchemy.

There are three ways to stake POKT on Pocket Network. The first option is to run your own node, which requires technical knowledge and a minimum of 15,000 tokens to stake. The second option is to pay someone else to run your node, which also requires a minimum stake of 15,000 POKT but no technical skills. The third option is to join a staking pool, which has no minimum staking limit and does not require technical skills.

To stake POKT by joining a staking pool, follow these steps:

1. Set up an account on the official Pocket Network wallet, Pocket Wallet. Fund your wallet with POKT tokens by purchasing them on supported platforms and transferring them to your wallet.
2. Review the available staking pools within the Pocket Network community and select a pool that suits your preferences and safety requirements.
3. Connect your wallet to the chosen staking pool's interface.
4. Stake the desired amount of POKT tokens, considering the lock-in period and rewards offered by the pool.
5. Confirm the transaction through your wallet and start earning rewards by staking Pocket Network.