Pocket Network Now Supports Meter, a Rapidly Growing L1
At the end of August, Pocket Network officially added Meter to our growing list of supported blockchains. Meter is one of the fastest growing L1s, particularly in terms of decentralization and network efficiency. With an optimized Hotstuff Proof-of-Stake (PoS) consensus mechanism, Meter increases network transactions-per-second (TPS) to thousands of transactions, while keeping hundreds of nodes online, featuring an optimized transaction module to realize maximal extractable value (MEV) resistance.
Meter ($MTRG) is a stablecoin that focuses on inflation resistance. It is permissionless without compromising performance, offers instant and immutable transaction records, and provides financial infrastructure that can operate as a side chain to be leveraged by all public blockchains. The protocol accomplishes all of this via a hybrid consensus model that combines the best of Proof-of-Work (PoW) and PoS counterparts, which enables Meter to be censorship-resistant, efficient, secure, and environmentally friendly. This hybridization has helped align incentives between users, miners, and developers of the Meter blockchain by separating their currency creation from their banking and accounting.
To date there have been dozens of NFT and DeFi projects deployed on Meter, such as VoltSwap DEX and Business Builders. The growing ecosystem of Meter requires a stable and decentralized network of RPC nodes to service both dApps and end users in lieu of Meter’s current centralized RPC service provider.
Recently, the Meter and Pocket Network communities discussed the desire to form a partnership, with both parties agreeing that cooperating will bolster a more decentralized technology stack and better user experience for both networks. By integrating with Pocket Network, Meter has agreed to route their RPC service, which currently relies on centralized providers, to Pocket Network’s decentralized network. With this newly launched integration, end users can benefit from a stable and highly performant RPC service, and developers can build on their own custom Meter endpoints by using the Pocket Portal.
Compared with centralized RPC providers, Pocket Network is capable of providing thousands of service nodes for Meter and delivering unstoppable infrastructure with high redundancy on a fully distributed network. Since Mainnet launch in July 2020, Pocket Network has proved its highly stable and fast service while maintaining maximum uptime for dApps.
More Web3 Projects are Choosing Pocket for Decentralized Infrastructure
The Web3 space is blooming, and decentralized applications are gradually replacing the traditional centralized solutions in various fields like trading, data storage, and wallets, just to name a few. Decentralized RPC networks are a key component to fix the current centralized choke point in the Web3 infrastructure layer, and to service users in a much more decentralized way, moving towards a fundamentally free and open way of transacting.
In the current Web3 stack, all dApps and end users need to access blockchain data directly or by using third-party RPC services. For dApps, fast and stable RPC service guarantees the quality of their service. For end users, RPC service is also a key factor to their user experience. Currently, most RPC service is provided by centralized firms, which creates large single points of failure. When these centralized services are offline, dApps depending on those services are not able to access blockchain data, and end users are not able to access the dApps.
As Pocket Network focuses on building a decentralized Web3 infrastructure for all, and resolving some of the above pain points, it in turn supports all varieties of blockchain projects. Pocket now supports dozens of blockchains, including Ethereum, Polygon, Harmony, BSC, Fantom, Avalanche, Solana, Near, and more, as well as thousands of dApps like Aave.
Developers can start building with Pocket’s decentralized infrastructure through the Pocket Portal today!
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