Blockchain
POKT Network expands access to blockchain data with launch of three new gateways
POKT Network has expanded its decentralized infrastructure by launching three new Gateways in partnership with Developer DAO, Porters (backed by Raid Guild), and Chainstack.
The latest development aims to offer developers enhanced access to over 60 blockchains, reinforcing POKT Network’s strategy to extend API accessibility across the web through its Universal RPC Base Layer.
According to a press release shared with Crypto.news, the addition of these Gateways represents a pivotal development for POKT Network and its ecosystem to offer dependable and cost-efficient data access solutions, aiding developers and enterprises in enhancing application quality and user experience.
Dermot O’Riordan, Director at the POKT Network Foundation, stated that these Gateways are akin to Layer 2 solutions in terms of improving scalability, enabling builders to connect directly to a scalable and reliable decentralized infrastructure.
“By accommodating access and demand on a scale previously unseen, we’re not just expanding the capabilities of our network, we’re laying the groundwork for a future where access to any large open data source is unfettered, secure, and universally available,” Riordan added.
Gateways allow a wide range of businesses to offer access to POKT Network’s infrastructure without the need for direct maintenance, promoting a decentralized business model. The structure aims to lower market entry times, reduce operational costs, and shift focus towards customer service enhancements.
Since its inception, POKT Network has rapidly expanded its Gateway offerings, growing from a single Gateway to six in just seven months, reflecting a strategic push to improve network capacity.
Daniel Olshansky, Head of Protocol at POKT Network, explained that the strategy allows for a division of responsibilities: protocol participants focus on infrastructure maintenance, Gateways on performance, and users gain access to reliable and affordable services.
The collaboration with Developer DAO, Porters, and Chainstack is notable for its potential to drive network growth and innovation. Developer DAO, for instance, aims to reinvest RPC revenues into public goods, highlighting a model where technological advancements serve the common good. Porters and Chainstack, on the other hand, bring technical expertise and significant volume potential to the partnership.
Looking forward, POKT Network is preparing for the Shannon Upgrade in the summer of 2024. The upgrade aims to simplify integration for RPC providers and projects, easing access to data across different blockchains and AI. The upgrade is expected to support a broader range of use cases and encourage collaboration within the decentralized data infrastructure space.
Source: crypto.news
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A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.
Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.
Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.
At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.
Source: cryptonews.com
The post Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis appeared first on HIPTHER Alerts.
A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.
Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.
Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.
Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.
In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.
Source: cointelegraph.com
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The Cryptocurrency Open Patent Alliance (COPA) has teamed up with Unified Patents to launch the Blockchain Zone initiative, aimed at combating “patent trolls” in the crypto industry. Patent trolls, or non-practicing entities (NPEs), are known for exploiting patent rights through litigation rather than developing new technologies. COPA and Unified Patents aim to prevent such entities from hindering blockchain innovation by making costly and baseless patent assertions.
The initiative is designed to safeguard blockchain and related technologies from these unwarranted patent claims, fostering an environment where developers and companies can innovate freely without fear of legal threats. Key figures in the partnership, such as Paul Grewal from Coinbase and Steve Lee from Spiral, emphasize that patent trolls create significant barriers to technological progress, especially in the fast-evolving crypto space.
By aligning with over 300 companies through Unified Patents, COPA’s effort strengthens its mission to protect the blockchain community and the broader crypto-economy from the disruptive impact of NPEs, ensuring that blockchain innovation remains open and accessible.
Source: news.bitcoin.com
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