Pocket Network announced that it has recorded over $150 million in revenue in the last 30 days.
This record growth now puts Pocket Network as the second largest chain by protocol revenue after Ethereum. According to data from Token Terminal, Ethereum with a total market cap of $385 billion has generated $1.1 billion in revenue during the same 30 day period.
Pocket Network is secured by over $320 million worth of network infrastructure distributed globally across 23 countries. The protocol reduces the risk of service downtime to near zero for any layer 1 blockchains or industry DApps using Pocket Network as work is distributed evenly across thousands of full nodes, which also protects end users’ privacy and significantly bolsters the multichain Web3 revolution that’s underway.
Michael O’Rourke, CEO of Pocket Network, said:
“We are growing rapidly in Europe and North America, which are currently staking the most, but we are extremely excited about the Asia market as more and more retail is starting to learn about Pocket.”
Pocket Network is a blockchain data platform built for applications that uses cost-efficient economics to coordinate and distribute data at scale, enabling seamless interactions between blockchains and applications. The network runs on a Proof-of-Stake (PoS) consensus mechanism that offers scalability and data consistency for applications.
Pocket allows developers to use blockchains by simply integrating into websites, mobile apps, and IoT, making blockchain enabled applications easily accessible to every mainstream consumer.
Read Also: Web3 Infrastructure Startup Pocket Network Secures $10M To Expand Node Coverage