📡 Weekly Relay Recap #30 🛰️

Over the last week between 06/17 to 06/23, the Pocket Network protocol has successfully relayed over 29.4M application requests and settled at 5,209 nodes.

Weekly Relay Recap

05/27 to 06/02: 38,296,391

06/03 to 06/09: 32,181,324

06/10 to 06/16: 33,995,194

06/17 to 06/23: 29,402,774

For the week of 06/17 to 06/23, the average successful relays per day were ~4.20M. The highest number of daily relays was on June 22nd, with over 4.52M relays.

This past week, 29.4M successful relays were processed. Nodes minted  ~294K POKT during this timeframe, with ~261.68k POKT going to the service nodes, ~29.4k POKT going to the Pocket DAO, and ~2.94k POKT going to block producers.

Total Successful Relays from 05/27 to 06/23: 134,839,429

AVG Successful Relays Per Day  05/27 to 06/23: 4,815,693

AVG Successful Relays Per Week 05/27 to 06/23: 33,709,857

Over the last four weeks, applications using the Pocket Gateway drove a total of 134.8M successful requests 📡

In this timeframe, nodes have minted a bit over ~1.34M POKT, with 89% going to the service nodes (~1.20M POKT), 10% going to the Pocket DAO ( ~134.8k POKT), and 1% going to the block producers (~13.4k POKT).

Total Staked Nodes

5,209 (-340)

Analysis by Marco 👋 | @TMod_Marco

This week, we saw a small drop-off in the total number of active validator nodes. This is the result of an increased number of jailed validator nodes, which counted 269 nodes on June 24th and 535 nodes a day later. Meaning that we can well see the number increase back to its recent heights shortly, especially as Pocket gets ready to whitelist blockchains listed out in Settlers of New Chains proposal for node revenue generation.

The number of processed relays is down by about 4-5M, with a little under 30M relays processed last week. Looking at the past couple of months, I’m expecting the number of relays to continue to range between 30-40M relays a week. Once wPOKT launches, I expect this number to increase rapidly as more applications join and as more users stake wPOKT to facilitate free decentralized infrastructure for their favorite projects.

As a reminder, you can drive relays to the protocol and $POKT revenue to node runners by adding a Pocket-powered Ethereum RPC endpoint within your MetaMask wallet. Here’s how:

https://docs.pokt.network/home/paths/shepherd/conscious-dappitalism/metamask

Updates

PIP-4: Consensus Rule Change: 0.6.3

PIP-4 is currently active and available for voting! Voting started on June 23rd, and ends on June 30th, 6:00PM EDT.

0.6.1 has been replaced by 0.6.3, which introduces a much-requested feature: Update Stake. Read this announcement for details on the new feature. This Pocket Core release (0.6.3) offers a higher level of security (2 mission critical patches in the merkle tree) plus provides a higher level of network stability through the removal/patching of events, in addition to a change in the encoding algorithm (Amino to Google’s Protobuf).

We’d recommend you to read through the full proposal on our forum, before casting a vote.

Voting can be done here: https://gov.pokt.network/#/pokt-network/proposal/QmZypPRQiQcsGxayiPG9FtQPgWe9V359PMjfcsPrzp9V8v

News

The (Peaceful?) Transition From Web 2.0 to Web 3.0 | Crypto:Global Hosted by Eden Block

Last week, Michael O’Rourke of Pocket Network joined other panelists Tom Teman of Portis, Ganesh Swami of Covalent, Elias Simos of Coinbase/Bison Trails, and moderator Dermot O’Riordan of Eden Block to discuss what Web3 really means and what it will take to achieve the Web3 vision.

Twitter avatar for @POKTnetworkPocket Network @POKTnetwork
The (Peaceful?) Transition From Web 2.0 to Web 3.0 starting now! Grab free tickets ASAP to hear from: @tomteman of @portis_io @gane5h of @Covalent_HQ @eliasimos of @coinbase/@BisonTrails @o_rourke of @POKTnetwork
hopin.com/events/crypto-… Crypto:Global hosted by @eblockventures

Dermot O'Riordan @Dermot_Oriordan

Looking forward to moderating a great discussion this Friday about the transition from Web2 to Web3 Sign up for free at https://t.co/QkGfTroYwv Amazing speakers include Web3 builders such as @o_rourke @gane5h @tomteman and aficionados such as @eliasimos https://t.co/c0XMsy314d

We’d call it a very successful event and look forward to sharing a recap with you on our social channels, as soon as it’s available!

Community All-hands

Join us for a monthly all-hands community call later today, where we'll discuss a range of topics, including protocol upgrades, DAO proposals, community projects, and any topic that you propose.

Time & Date: Today, June 25th, 12PM EDT.

Agenda:

- Chain Halt Post-Mortem

- 0.6.3 Consensus Upgrade (PIP-4)

- New Chain Listing Strategy (PIP-6.2)

- New Block Explorer Showcase

- Node Pilot Updates

To participate, check out the Discord #calendar channel:

https://discord.com/channels/553741558869131266/812363956520878171/854552509350936586

POKT Network in the news at Our Network

Pocket Network was covered in Our Network’s newsletter. A newsletter that goes out to over 12k crypto enthusiasts each week!

The update displays the long-term growth POKT has seen so far, and shows two important metrics we haven’t mentioned earlier in this newsletter yet: number of total staked applications (close to 400) & the number of POKT staked by those applications.

‘’The number of apps integrated with Pocket has been consistently growing, indicating a growing demand for developers to route requests through Pocket’s independent nodes. This has lead to a growing amount of POKT being staked by those apps which stands at an all-time-high of 10M POKT.’’

What can you do to drive relays and add nodes to the network?

App Side of the Marketplace

If you care about privacy and decentralization, replace the default network provider in your MetaMask wallet with actual decentralized node infrastructure by adding a Pocket-powered Ethereum mainnet endpoint through the custom rpc settings!

Try out any of these other apps listed in the Conscious Dappitalism page within our new docs . You can also earn a skill-role in our Discord community server for dogfooding any of those applications by completing a quest within the POKT arcade

If your application or service is interested in becoming a launch partner for the wPOKT farming program, register here

Node Side of the Marketplace

Don’t know how to run a node? Check out the Node Runner docs above to learn how. 

If you run into any issues,  a community of node runners (and our support team) would be happy to help. If you’d prefer to not run a node yourself, check out the forum for a list of node providers offering their services to people interested in participating in the ecosystem. 

How to purchase POKT to stake?

When you are ready to take the step forward in supporting decentralized node infrastructure and earning Pocket’s native cryptocurrency for serving apps then visit any of these community-established OTCs:

SubZero OTC

Thunderhead OTC

They are the best way to buy or sell POKT; and it helps nodes cover the cost of their infrastructure. Join either private telegram channels (requires telegram) and message the admin to get started. Note that there are fees associated with the OTCs to help cover their costs and that neither Pocket Network, Inc., the Pocket DAO, nor the Pocket Foundation receives any of these fees nor any proceeds from the sale of POKT through the OTCs.

Connect with Pocket: 

🦜 Follow Pocket on Twitter at @POKTnetwork

💬 Chat with the Pocket team and community in Discord

👾 Visit the Pocket Network Website

♻️ Learn more about wPOKT

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