Pocket Network is a solution for blockchain relay infrastructure. Pocket provides services similar to what Infura offers for Ethereum users, but in a decentralized manner to any given blockchain network, as long as someone is willing to spin up a node and receive a token reward for.
2019 is another landmark year for Pocket Network. Here’s a rundown on the project’s current progress, as the next phase takes shape.
Mobile Development: SDKs & Plugin Systems
Pocket iOS SDK
During ETH Buenos Aires in May 2018, Pocket core developers came up with Banano Quest: an iOS application that syncs up with the Ethereum network and creates client-side wallets for user-friendly storage of cryptocurrency. Banano Quest secures quest clues with merkle tree encryption, and rewards search-and-find gameplay with real tokens (Ropsten Testnet Ether), all seamlessly integrated with Pocket tools.
Banano Quest was used to demonstrate the ability for Mobile dApp developers to use cryptocurrencies as in-game tokens without the need for heavy lifting when building out the blockchain infrastructure. With Pocket tools, developers can focus entirely on optimizing their dApps user experience.
The Pocket Node plugin system allows users to support any decentralized network as a Relay Node in the Pocket Network. Each plugin can be created independently and supported individually as an NPM package. For example, adding Ethereum support to a node is as simple as downloading the Pocket Node Ethereum plugin.
The Pocket Core dev team intends to create plugins for many major blockchains, but one team may not be able to create plug-ins for every blockchain in existence in a timely manner. So in the spirit of open source development Pocket has prioritized making it simple for onboarding developers to set up their own plug-ins for the blockchain of their choice.
Pocket Protocol Layer
The decentralized network of relay services to various external blockchains will be secured and reinforced by Pocket Network: a proof of stake, mint and burn, simple blockchain network.
Network liveness relies on several types of nodes: validators, dispatch, service, and (Pocket) blockchain. Each type of node will receive rewards for their work, some in payment and some in karma.
A major upcoming development is the airdrop of PXKT, an ERC20 to be distributed at the onset of the Decentralized Autonomous Organization (DAO). PXKT is an Ethereum token with DAO functionality that will be swappable for Pocket Network’s native token, POKT, upon main network deployment.
Consensus protocol and well-crafted economic models play a critical in sustaining the livelihood of a decentralized network.
Our Economics team, lead by Tracie Myers with advisor Shivendu Shivendu, Ph.D from the University of South Florida is working diligently on an Economics paper to be released for the community to review and provide feedback on early 2019. One of the unique properties to Pocket Network’s economic model is the infinite token minting. The economics team is working out the specifics to ensure the long-term sustainability of the token and proper compensation of nodes without unnecessary inflation.