Finance
POKT Network Welcomes Three New Gateways & Brings Open Data Access to Millions of End Users
Home > Finance > POKT Network Welcomes Three New Gateways & Brings Open Data Access to Millions of End Users
Global Banking & Finance Review®
Company
Georgetown, Cayman Islands, April 9th, 2024, Chainwire
Georgetown, Cayman Islands, April 9th, 2024, Chainwire
Developer DAO, Raid Guild, and Chainstack will bring their respective networks and distribution to POKT Network, providing more developers with read/write access to 60+ blockchains’ by building on top of POKT Network’s decentralized infrastructure
POKT Network, the user-governed platform building a Universal RPC Base Layer, announced today the launch of three new Gateways: Developer DAO, Porters (backed by Raid Guild), and Chainstack. The new Gateways are a key part of POKT Network’s growth strategy to scale API access to every open data source on the internet.
Gateways serve as independent access points to the POKT Network, enhancing data accessibility and network performance. Each Gateway is built directly on POKT Network’s universal RPC base layer infrastructure and removes the need to build and maintain any of the underlying infrastructure, helping players like Developer DAO, Porters and Chainstack to operate as an independent RPC business. The innovation of Gateways lies in the ability for businesses of every kind – centralized or decentralized – to resell access to infrastructure by leveraging a blockchain protocol as the central coordinating party. This system adopts a unique business model that delivers the benefits of vertical integration through a decentralized network rather than a single centralized entity, meaning that more of the benefits are shared amongst more businesses. The protocol wins from more demand for the core service, while Gateways benefit from massively decreased time to market, lower operating expenditure and more time and resources to focus on the front-end of their businesses. The launch of these Gateways is a major step forward in POKT Network’s mission to provide developers and enterprises with the most reliable, performance, and cost-effective data, so they can focus on building the best applications with optimal user experience.
“The introduction of these three key new Gateways marks a key step forward for POKT Network and the broader ecosystem,” stated Dermot O’Riordan, Director at the POKT Network Foundation. “In the same way that L2s radically improved scalability at the application layer, our Gateways enable builders to easily plug into POKT’s cost-effective, reliable, and scalable DePIN infrastructure without compromising on performance or UX. By accommodating access and demand on a scale previously unseen, we’re not just expanding the capabilities of our network, we’re laying the groundwork for a future where access to any large open data source is unfettered, secure, and universally available.”
Since 2017, POKT Network has developed a leading decentralized physical infrastructure network (DePIN), achieving unmatched resilience, scalability, and cost-efficiency. The network guarantees 100% uptime, under 25 ms latency across over 60 blockchains, supported by about 15,000 nodes in 22 countries, at a cost of $0.85 per million API requests. Originally operating with a single Gateway, POKT saw its second Gateway launched in October 2023 quickly account for about 30% of network volume, showcasing the impact of new Gateways on POKT’s capacity. This marked the beginning of an accelerated strategy rollout. With the integration of a third Gateway in March and today’s launch of three more, POKT Network increases its Gateway count to six, a rapid expansion from just one seven months ago, highlighting a significant scaling of the Gateway strategy.
“POKT Network’s Gateway strategy offers developers and RPC providers an effortless way to leverage RPC infrastructure with enterprise level quality-of-service atop a permissionless and decentralized RPC infrastructure network, without having to build and maintain it themselves”, stated Daniel Olshansky, Head of Protocol at POKT Network. “The key breakthrough is the ability to decouple roles and responsibilities. Protocol participants maintain efficient infrastructure, Gateways focus on performance, and users get access to reliable, performant, and cost-effective services.” The introduction of three new Gateways enables builders to access and build upon this powerful decentralized infrastructure, set to become the backbone of the evolving machine-to-machine (m2m) world.
The first DePIN report from Blockworks Research emphasizes the importance of reliable RPCs, “As the number of blockchains and rollups continue to grow, and their collective needs get even more demanding, with higher throughput and shorter block times, the need for performant RPCs for every blockchain has become very clear”. The report also highlights POKT’s Gateway model as a signal for how DePIN will scale, both in web3 and wider use cases, “In the end state, most customers will get their infrastructure via end-user-facing gateways/frontends (that effectively act like L2s to the underlying protocols)”, adding, “as POKT Network proves the benefits of this approach we expect to see other DePINs adopting a similar playbook to rapidly accelerate growth and innovation.”
The Future of Decentralized Data Access with the Shannon Upgrade
POKT Network’s Shannon Upgrade, scheduled for a summer 2024 release, will simplify integration for RPC providers and projects by removing current limitations and introducing permissionless gateway creation, making censorship resistance fully attainable. This update, currently in private testnet, aims to reduce costs, ease data access across blockchains and AI, and promote collaboration over competition. It marks a critical advancement in decentralized data infrastructure, broadening the range of supported use cases and fueling innovation.
About POKT Network
POKT Network is a leading decentralized blockchain infrastructure provider that empowers developers to build scalable, secure, and efficient blockchain applications with industry-leading data access. Leveraging cutting-edge technology, POKT Network offers a robust, decentralized infrastructure layer that facilitates seamless interaction between decentralized applications (dApps) and multiple blockchain networks. With a commitment to fostering innovation and accessibility in the blockchain space, POKT Network provides developers with the tools and resources they need to unlock the full potential of decentralized technologies.
For media inquiry, ana@serotonin.co
PR Manager
Ana Lezama
ana@serotonin.co
A blockchain is a decentralized digital ledger that records transactions across many computers. It ensures that the recorded transactions cannot be altered retroactively, enhancing security and transparency.
Decentralized infrastructure refers to a network architecture that distributes data and processes across multiple locations, reducing reliance on a single point of control and increasing resilience.
An API, or Application Programming Interface, is a set of rules that allows different software applications to communicate with each other, facilitating data exchange and functionality.
A DAO, or Decentralized Autonomous Organization, is an organization represented by rules encoded as a computer program that is transparent and controlled by its members rather than a central authority.
RPC, or Remote Procedure Call, is a protocol that allows a program to execute a procedure on another address space, commonly used in blockchain to interact with nodes.
Explore more articles in the Finance category
