Algorand Provides Native Support of the Pocket Network's Next-Generation Decentralized Infrastructure

Enabling a 10x cost reduction, a new level of scalability and security, and greater access to blockchain development

BOSTON, July 7, 2020 /PRNewswire/ -- Algorand, the world's first open-source, permissionless, pure proof-of-stake blockchain protocol, today announced Pocket Network, a decentralized infrastructure platform for the development of peer-to-peer applications, will now be natively supported on the Algorand network. Through the AlgoSDK, Algorand will be the first blockchain to natively point to Pocket's API protocol, which connects developers to a decentralized relay network of node operators and infrastructure providers, thereby lowering the barrier to blockchain application development. 

The result is unparalleled uptime, redundancy, and resiliency to applications, while saving developers time and money. With Pocket's crypto-economics and built-in redundancy, developers can expect up to a 10x reduction in costs compared to centralized alternatives. 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.

"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," said Steve Kokinos, CEO of Algorand. "The economic and technical advantages will give app developers a jump on the competition and enable the next wave of innovation."

Borderless Capital, a fund focused on growing the Algorand ecosystem, has invested in Pocket and committed to connecting the large number of Algorand relay and participation nodes that it runs to the Pocket Network.

"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," said Michael O'Rourke, CEO / Co-Founder, Pocket Network. "We'll be minting POKT on a one to one basis as an Algorand Standard Asset (ASA) through the Algorand<>Pocket Token Bridge, which means more interoperability and ultimately more utility for both communities."