Bear markets are always the best to pick winning projects. Usually, the scam projects have been crushed out of the competition by the intense selling pressure. At the same time, under the bears’ pressure, new gems are discovered. Pocket Network is one such gem.
But should you invest in it? Read on to find out.
What is Pocket Network?
Pocket Network (POKT) is a blockchain data platform that uses cost-efficient economics to coordinate and distribute data at scale. This then enables seamless interactions between blockchains and applications.
The platform intends to integrate blockchains into websites, mobile apps, IoT, and more. It will give developers the freedom to put blockchain-enabled apps into the “pocket” of every mainstream consumer.
In short, Pocket Network provides decentralized RPC access to over 20 blockchains. When their native RPCs fail due to network congestion, you can still use the network without any delay or problems.
In addition, the Web3 RPCs from Pocket Network are decentralized, ensuring your data is protected and you are protected. Pocket Network makes sure Web3 never experiences blackouts.
The company’s headquarters are based in Tampa, Florida, and its specialties include Blockchain Infrastructure, Blockchain API, Blockchain Nodes, and Ethereum Nodes. The founders are Michael P O’Rourke and Valeria Benitez Florez.
According to Coingecko, POKT is currently the 225th cryptocurrency by market cap and is currently trading at $0.091 as of the time of writing.
Partners and Investors
The company has 15 investors, with the lead being Arrington XRP Capital, Republic Capital, RockTree Capital, and C2 Ventures. CoinShares and Dominance Ventures are the most recent investors. Its partners include Omer Ozden and Michael Arrington.
Pocket Network has raised a total of $20.1M in funding over 8 rounds, with their latest funding raised on January 6, 2022, from a Venture-Series Unknown Round.
Pocket Network is tackling the problem at the full node layer so that the shared Web3 vision of a more fair “censorship-resistant” internet can be protected and secure. The company works to unlock a new form of value creation for node operators that realign their immediate needs with the long-term health of public blockchain networks.
Pocket Network has integrated over 20 blockchains and is still adding more.
Vincent Munene is a freelance writer and a great blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return, he likes to educate people and keep them up to date on everything blockchain. He is a Biochemist by profession and also loves to play the piano.