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Press release
Press release. Pocket network Monthly income in December exceeds US$56,000,000 Put it in the top five of global blockchain revenue, surpassing many well-known blockchains.
Tampa Bay, Florida, USA – January 6, 2022 —— Pocket network – An infrastructure middleware protocol that provides decentralized cloud computing and abundant bandwidth on full nodes for other applications across 20 blockchains (including Ethereum, Polygon, Solana, and Harmony) It has completed a $10 million strategic round of financing led by Republic Capital, RockTree Capital, Arrington Capital, and C2 Ventures, as well as other well-known participants (such as Coinshares, Decentral Park Capital, and Dominance Ventures).
Pocket Network has increased from tens of thousands of relays per week in early 2021 to more than 2 billion relays in a week in December, and it is rapidly expanding as the demand for its services from L1 and dApps increases. Compared with 89 million 12 months ago, the number of relays in December was 5.5 billion.
Since July, the usage of the Pocket Network has more than doubled each month, as measured by “relays,” that is, API calls handled by the protocol. Just last week, it broke the average daily record by serving more than 300 million relays. The growth in network usage has led to the corresponding growth of nodes on the network, which are now served by more than 18,000 nodes operated by hundreds of independent community parties and providers.
The total network revenue in December exceeded 56 million U.S. dollars, Pocket Network has relatively ranked among the top 5 revenue sources of all blockchains and blockchain applications in the world (source data comes from Token terminal*), although it is still relatively low-key so far, including revenue exceeding Solana, Elrond, Harmony and most DeFi agreements.
“In the blockchain today, the valuation of projects is based on their actual performance and real indicators. In Pocket Network, we have discovered a gem that expands at a distorted speed, and its performance is measurable on the chain. Many exchanges and dApps today still rely on Web2 centralized cloud computing and hosting service providers, which can cause costly interruptions when they fail. RockTree believes that Pocket Network is the key infrastructure of the Web3 revolution, and it is the future of multi-chain blockchains. Provide true decentralization and continuous uptime. Just look at the data on the chain.” said Omer Ozden, CEO of RockTree Capital. RockTree Capital is a fund and commercial bank focused on connecting projects in Asia and North America. “I want to add that it is Pocket’s highly qualified team and leadership that makes RockTree an easy choice for their Asian partners and investments.”
Pocket Network is built on the basis of its huge community of thousands of node operators, and the goal is to expand to trillions of relays per day in the next 5 years, distributed on hundreds of thousands of full nodes.
“We are very pleased to support Pocket Network’s mission to inspire L1 decentralization. We believe in many different ecosystems-including Terra, Algorand and Polkadot-and understand the need for a wide range of nodes at the base layer. Ultimately, POKT is an enhancement The long-term robustness and resistance to fragility of the entire crypto ecosystem are critical,” said Michael Arrington, founder of Arrington Capital.
“Pocket Network’s market-based infrastructure approach appropriately demonstrates how Web3 native services outperform existing Web2 service providers in terms of economics and performance. For blockchain application developers and node operators, Pocket is an obvious one Choice.” added Alex Ye, managing director of Republic Crypto.
“Earlier this year, we announced the establishment of a strategic partnership with Rocktree Capital. Rocktree Capital is helping us accelerate our global entry into all major blockchain markets. Today, we are happy to announce that the plan will continue to accelerate through the establishment of strategic partnerships with Republic, Arrington Capital, and many high-impact participants who provide value to the entire Pocket Network ecosystem.” – Michael O’Rourke, CEO of Pocket Network
Pocket Network’s goal is to increase developer adoption and node coverage through a number of initiatives, including extensive multi-jurisdictional expansion to the Asia-Pacific region in the coming year.
About Pocket Network
*Token Terminal will release the complete revenue data of Pocket Network on January 5
Pocket network, A blockchain data ecosystem for Web3 applications, is a platform built for applications that uses cost-effective economics to coordinate and distribute data on a large scale.??? It achieves seamless and secure interaction between blockchain and cross-application programs. With Pocket, the use of blockchain can be easily integrated into websites, mobile applications, the Internet of Things, etc., allowing developers to freely put blockchain-enabled applications into the “pockets” of every mainstream consumer middle.
Stone Tree Capital, A Chinese commercial bank and fund focusing on blockchain projects and mobile e-commerce companies, with offices in Beijing, Shanghai, New York and Toronto. RockTree Capital invests in top blockchain projects and accelerates its development in Asia.
Arlington Capital It is a digital asset management company mainly focusing on blockchain-based capital markets. The company was founded in 2017 by TechCrunch and CrunchBase founder Michael Arrington and TechCrunch CEO Heather Harde. It manages more than $1 billion in funds and has invested in hundreds of startups around the world.
Republic Capital It is a leading investment platform that provides investment in entrepreneurship, real estate, encryption and games for retail and qualified investors. Republic has provided more than 700 million U.S. dollars in investment to our global community of more than 1 million members
C2 Venture Capital Company It is a chain-independent venture fund that focuses on providing capital and operational expertise for builders to develop and expand the next generation of leading Web3 and Metaverse applications.
For more information, please visit: Pocket network
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Image Source: Shutterstock, Pixabay, Wikimedia Commons
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