Algorand Inc., the developer of the world’s first open-source, permissionless, pure proof-of-stake blockchain protocol, has announced that it will integrate Pocket Network’s next-gen decentralized infrastructure to its AlgoSDK to provide DApp developers easy access to blockchain development.
Pocket Network is a decentralized API protocol for any blockchain, currently running on testnet. The mainnet is scheduled to launch on July 28th, 2020.
“As an incentive to use the testnet, Pocket will provide a POKT token grant to those application developers who start to relay data to Pocket’s network of nodes now, which can be used to further subsidize already low infrastructure costs come mainnet,” reads the announcement.
Soon Web3 developers will also have access to Pocket’s existing decentralized relay network of node operators and infrastructure providers through AlgoSDK. As Pocket Network features a global, distributed network of node operators, developers enjoy an unparalleled uptime, redundancy, and resiliency to their applications.
Furthermore, developers no longer need to hire their node runners or IT team to run their infrastructure. So this distributed node network results in time and cost process while eliminating single points of failure for DApps.
Pocket’s future plans include the development of a token bridge between Algorand and Pocket, based on mint and burn mechanism. The startup will be minting the POKT token as Algorand Standard Asset (ASA) on a one-to-one basis. This token bridge will allow Algorand developers to use ASA-POKT token in their applications. These token will also be tradeable on Algorand supported exchanges and wallets.
Michael O’Rourke, CEO and co-founder of Pocket Network, commented:
“Integrating with Algorand gives developers the tools to leverage two protocols, and when combined will provide developers unparalleled privacy and stability for their decentralized applications. The more developers access Algorand through Pocket, the more incentive there is for Algorand nodes to be running across the world, increasing censorship resistance, and providing a strong supply-side market for layer-2 solutions built on Algorand.”
Steve Kokinos, CEO of Algorand, stated:
“We’re excited to see the types of decentralized applications (Dapps) that will be unleashed when developers tap into the powerful infrastructure that the Pocket network provides. The economic and technical advantages will give app developers a jump on the competition and enable the next wave of innovation.”
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