What coin is POKT?

POKT's decentralized node network eliminates reliance on centralized infrastructure, ensuring enhanced security, scalability, and cost-effectiveness for dApp development.

Nov 28, 2024 at 08:58 am

What is POKT?

POKT is a decentralized network that provides blockchain access for decentralized applications (dApps). It aims to address the issue of centralized blockchain infrastructure by distributing node operations across a global network of independent node operators.

How Does POKT Work?

• Decentralized Node Network: POKT leverages a distributed network of node providers to eliminate reliance on centralized infrastructure. These providers are incentivized to maintain high-quality nodes through token rewards.
• Node Orchestration: The POKT network automatically assigns tasks to node providers based on their performance and reputation. This ensures reliability and availability of blockchain access.
• Service Level Agreements (SLAs): Developers can specify SLAs for their dApp's blockchain connectivity. POKT matches these SLAs with appropriate node providers to meet specific performance requirements.
• Token Incentives: The POKT token (PKO) is used to reward node providers for maintaining high-quality nodes. It also serves as a payment method for dApps to access blockchain infrastructure.

Benefits of POKT

• Decentralization: POKT eliminates reliance on centralized blockchain infrastructure, enhancing security and resilience.
• Scalability: The distributed node network enables POKT to handle increased demand for blockchain connectivity without compromising performance.
• Reliability: The use of SLAs ensures predictable and reliable blockchain access for dApp developers.
• Cost-Effectiveness: POKT provides a cost-effective alternative to centralized blockchain infrastructure, lowering entry barriers for dApp development.

POKT Tokenomics

• Token Supply: There is a total supply of 100 million PKO tokens.
• Token Distribution: Tokens were distributed through a public token sale, team allocation, and rewards to node providers.
• Token Use Cases: PKO tokens are used for node provider rewards, payment for blockchain access, and governance of the POKT ecosystem.

Potential Use Cases for POKT

• dApp Development: POKT provides decentralized blockchain infrastructure for dApp developers, allowing them to build scalable and reliable applications.
• DeFi Protocols: POKT can facilitate blockchain connectivity for DeFi protocols, ensuring secure and decentralized access to financial services.
• Web3 Applications: POKT enables seamless and efficient blockchain integration for Web3 applications, bringing decentralization to the mainstream.
• Enterprise Adoption: Businesses can leverage POKT to implement blockchain solutions within their operations, enhancing security and streamlining processes.