When a list of top notch proof-of-stake blockchain protocols is called out, Algorand usually takes the lead. Every day, Algorand brokers partnership agreements with other innovative platforms and startups, in a bid to improve its ecosystem. Algorand is all about improving the way things are done daily, and this can be seen in its partnership with Pocket Network.
Pocket Network is a decentralized infrastructure platform that allows developers to create dApps easily. This partnership means that this platform is now natively supported on the Algorand ecosystem.
Algorand, via the AlgoSDK, has currently clinched the position of the first-ever blockchain that will be linked natively to the Pocket’s API protocol. This is good news for developers, as they can easily have access to decentralized infrastructure providers and node operators. This partnership between Pocket Network and Algorand will reduce the obstacles that come with the development of blockchain application.
The benefits are unquantifiable, as the uptime will be out of this world, the resiliency and redundancy will be unparalleled. Developers can now smile because the money and time that they will invest in their dApps or crypto projects will reduce.
Those development teams that make use of this strategic partnership will enjoy a reduced list of costs of up to ten times.
There’s also a benefit that accrues to developers that use the testnet, as Pocket intends to give out POKT tokens to them, immediately they begin relating their data to the networks of nodes on the Pocket’s platform. This will go a long way to reduce the incredibly low infrastructure costs that may be incurred when the mainnet occurs.
A wave of innovative dApps will take over the ecosystem because of this partnership. There’s hardly any developer that wouldn’t want to enjoy the benefits that the Pocket network offers. Decentralized apps’ creators can stay ahead of their competitors by using this powerful infrastructure, as the technical and economical benefits are off the charts.
How Borderless Capital is Helping
If you are conversant with Algorand, you may have heard of the Borderless Capital. This is a fund that is dedicated to ensuring that the Algorand ecosystem grows in leaps and bounds. Borderless Capital has taken it up a notch by investing in Pocket, as well as ensuring that Algorand is linked to the Pocket Network.
This fund company is doing this because it knows the incredible benefits that will accrue to users that use Algorand. The partnership means that developers of crypto projects or dApps can leverage the benefits of both protocols. What it translates to is that developers will have unseen stability and security features in their dApps.
As more developers see the need to use Algorand via Pocket, there will be an increase in the Algorand nodes that run globally. This will, in turn, lead to a heightened resistance to censorship.
How will Pocket Network Tokens Be Minted?
POKT is the Pocket Network tokens, and it is expected that it will be minted on a one to one basis with the ASA in mind via the Algorand-Pocket Token Bridge. This goes to show that interoperability will be the order of the day. The uses of this token will be visible on both platforms.
Benefits That Will Accrue To Developers
Before the coming of this infrastructure, developers were expected to pay node runners. If they didn’t do that, they were expected to use an IT team to ensure their infrastructure ran smoothly.
The coming of this partnership with Pocket Network removes the need for the aforementioned. This will go a long way to clamp down on the high costs that would have been incurred or the massive span of time that would have wasted. Apart from that, it will take out single points of failure.
Algorand and Pocket have more features in the works, and one of them is the token bridge that will link both of them together. The bridge will operate via a decentralized series of minting and burning process. When this Algorand-Pocket Token Bridge is completed, developers can easily utilize their ASA-POKT tokens for their dApps. Apart from that, users will easily exchange their ASA-POKT tokens on any Algorand supported exchange. They can also send the tokens to their wallets.
A Brief Description of Borderless Capital
This is a modern fund company that is dedicated to investing in the creation of modern financial products that are not common in the traditional financial ecosystem. It does this via the Algorand Borderless Economy.
Apart from investing in modern financial products, they also offer mentorship to startups.
A Brief Description of Algorand
Algorand was created by an innovative cryptographer that is known in the crypto world. His name is Silvio Micali. He created this open source, permissionless, pure proof-of-stake blockchain protocol that does a lot of things. On Algorand, value can be created or exchanged. Brand new financial services and applications can be created, and so much more occur in this blockchain. The number of innovation on Algorand keep on increasing by the day, as the ecosystem had cultivated the culture of continuous improvement.
A Brief Description of Pocket Network
This is a firm that is dedicated to ensuring that blockchains have decentralized API protocol. This protocol acts as a relay network for API, which utilizes the crypto-economic model. This model goes a long way to clamp down on the costs spent by developers. Its utility token is the POKT.