Pocket Network’s mission
is to coordinate open access to the world’s public data by empowering anyone to provide unstoppable infrastructure
Pocket Network relies on independent node runners to provide the infrastructure to relay the data requests from users. Node runners are rewarded for their work of validating data and storing it.
By using independent node runners, the reliance on one service provider is eliminated and this offers users more uptime, more reliability and cheaper running costs. Due to its decentralised nodes, users benefit from added security and are free from censorship that occurs when relying on one service provider who chooses what and who can access their services.
How it works...
A user or application makes a request through the Pocket Portal. This is pseduo-randomly relayed through the pocket network of nodes, and validated. The request is then relayed to the external blockchain.
The independent node runners are rewarded for validating transactions and requests on the network. This incentivises them to ensure their nodes offer speed, reliability and security.
Fractionalised Node Ownership
Nodeifi offers an opportunity for POKT holders to pool their holdings with other investors and stake them into a validator node. Each validator node requires a minimum of 82,000 POKT. By pooling your POKT with other investors, you are able to own a share of the validators in the NODEIFI POKT pool.
All nett rewards are shared with the pool participants on a pro rata basis depending on your percentage share of the pooled assets.
As with the rewards, all costs associated with running the nodes are shared between investors on a pro rata basis.
Infrastructure costs are 2 USDC per day per validator node.
Nodeifi charges 7.5% of all rewards earned by the validators.
These costs are paid to Nodeifi in POKT tokens and the USDC value is calculated on the POKT price on the last day of every month.