📡 Weekly Relay Recap #56 🛰️
📡 Weekly Relay Recap #56 🛰️
Over the last week (01/27-02/02), the Pocket Network protocol successfully relayed over 2.3 Billion application requests (up by 17.8%) & settled at 26.5k staked nodes (up by 9%)!
Weekly Relay Recap & Analysis 👋
After a temporary dip last week, this week the relays recovered back strongly making it the best week relays wise. We did 2.33 Billion application requests which is the highest relays in a week by Pocket Network.
The nodes normally grow consistently by ~7% every week however by end of this week we ended up 9.3% higher ending the week at 26507 nodes.
Pocket Network is witnessing unprecedented growth in Nodes infrastructure with a higher number of community members choosing to stake the tokens and contributing to the network.
Of the total 881M POKT supply; as of this writing there is 510M POKT(57.8%) locked in staked nodes and 370M POKT in unlocked circulating supply.
The average daily relays were up by 17.8% compared to last week at around 332M relays.
Nearly 8.8B relays have been processed in total throughout the last four weeks. The exact figures are displayed in the table below.
For those interested in diving deeper into the metrics, one can find them on C0D3R’s Pocket Network charts.
The pie chart below shows the distribution of all POKT rewards minted over the past week between the service nodes, block producers, and the Pocket DAO.
At the time of this writing, Pocket Network now has 26,507 nodes!
Distribution of relays requested by blockchains:
While the top relay drivers continued to remain the same, here are the top changes of the week:
- IoteX Mainnet - Up by 192%. The relays on this chain have been steadily growing week on week. Relays grew from 2.3M relays last week to 6.7M relays in this week.
- xDAI Archival - Up by 133%. Grew from 2.6M relays to 6.1M relays.
- Ethereum Archival - Up by another 126%. Grew from 1.5M relays to 3.4M relays.
- xDAI - Up by 47%. Grew from 22.6M relays to 33.2M relays.
- Solana - Down by 56.4%. Dropped from 4.3M relays to 1.9M relays.
What do you think the lineup will be like next week? Share your thoughts on Twitter!
wPOKT
wPOKT dev log #11 was published earlier today!
Here’s the quick download:
- Packetlabs has completed the penetration testing of POKT<>ETH bridge and released the results of Application Security testing stating the assets were found to be at low risk for compromise with exceptions across 20% of the OWASP Top 10.
- With this, Pocket Network has completed the 2 penetration tests that certify that POKT<>ETH bridge is secure.
For more details and links, read the full developer log here:
Governance Updates
These proposals were voted on and passed in this week:
PIP-10: wPOKT Multi-Sig Signer Selection
Passed ✅:
Full proposal here: https://forum.pokt.network/t/pip-10-wpokt-multi-sig-signer-selection
To operate the wPOKT bridge, Pocket protocol needs a Gnosis Safe 5/7 multi-sig that can mint wPOKT as needed to supply tokens to the liquidity bridges. The proposal invited volunteers to be a signer by responding to the proposal.
PEP-20: Market Making Reimbursement
Passed ✅:
Full proposal here: https://forum.pokt.network/t/pep-20-market-making-reimbursement/1751
This proposal, put forward by Pocket Network CEO Michael O’Rourke, talks about the expense incurred to provide liquidity for a successful POKT launch on the exchanges last week. The foundation directors deemed that two separate market makers were necessary to ensure a successful POKT market entry across multiple exchanges. As part of doing these deals, the Pocket Network Foundation provided 11M $ from its own treasury to this effort. The Foundation is seeking reimbursement from the DAO for these tokens.
PIP-9: Consensus Rule Change - RC-0.8.0
Passed ✅:
Full proposal here: https://forum.pokt.network/t/pip-9-consensus-rule-change-rc-0-8-0/1351
The proposal suggests some very important improvements to the Pocket protocol:
- Non-custodial Operator address: Currently the private key where the node is running and the private key that has custody over staked POKT tokens are required to be the same. In cases where the community members are working with 3rd party service providers for running nodes, it means providing them full control of their funds. With this upgrade, the custody of the tokens and the rewards generated will remain with the wallet holder while the node can run independently, giving them full control of their POKT.
- Removal of Force-Unstake ‘Burn’: If any Pocket Network node falls below the minimum stake (due to slashing) the punishment is burning all of their staked funds. The proposal suggests that if the node falls below the minimum stake of 15,000 POKT, the node will automatically initiate a 21-day unstake. This is a more befitting response to the infraction committed by the node and will put community members at ease knowing their POKT will not be burnt.
- Non-Deterministic Invalid Evidence Fix: The evidence handling protocol in Tendermint is non-deterministic and occasionally causes invalid proposals. Historically, this symptom has caused blocks to be tens of minutes late. A patch would be released so there is true determinism in block production.
- Handling of ReplayAttack Error: Relay ReplayAttacks are stopped at the protocol level under the ProofTx verification. However, the protocol is specified to punish the attacker proportionally to the probabilistic replays. The functionality though being present in Pocket Core, it is not working as intended. A patch to be released which fixes this bug.
There are no active proposals up for vote in Pocket Snapshot as of today.
These proposals are under active discussion by community members:
- PUP-12: Inflation Stop-Gap Proposal: Double Trouble
- PEP-21: Bypass wPOKT LBP and go straight to the bridge
- PUP-11: WAGMI Inflation
- PEP-19: The Development of PocketRS, Ongoing Client Support, and Feature-Rich Documentation
- PEP-16: Universal Contributor Income
- PIP-11: Implementing an On-chain Rev Share Mechanism
As of this writing, there is no new proposal up for a vote.
We are seeing active and engaging discussions by the Pocket Network Community on the forums. Join the discussion and share your opinion. Your voice matters and will be heard. You can do so by clicking the hyperlinks of any of the proposals.
Dev Updates
Nodes per session increase to 8
The Pocket Network protocol autonomously and randomly assigns 5 nodes from the network in a session with an application (or client). In the event, a node was to go offline, then the application would still be connected to the other four nodes in that session. In the even unlikelier event, all nodes were to go down, then the app would automatically get paired with another set of 5 random nodes by the protocol through a mechanism called session tumbling.
In the recent update, the number of nodes per session was increased to 8 at the protocol level. Over time, the SessionNodeCount will increase to 24 nodes per session as proposed in the approved PUP-10.
More nodes mean a higher degree of randomization, and by extension more security.
Pocket Network v1 spec release
Last week Pocket Network revealed to the community v1 specs! The call was held on Discord/Twitter spaces and was met with great excitement and interest in the future of Pocket.
(For those that missed this call, the recording is below!)
Shortly after, the detailed docs were released.
Here are the simplified docs for v1:
https://docs.pokt.network/home/v1/v1-overview
And the deeper technical specifications:
Missed the community call but wanted to attend?
You can still do it! This was just one of the calls planned. RSVP to the below scheduled calls in the upcoming weeks:
Pocket Network v1.0 Utility Q&A
Sampled the future of Pocket Network's economics and still fishing for more? 🎣 Join this Q&A with Andrew Nguyen, Protocol Lead, Pocket Network and BenVan, a long term community member.
https://discord.gg/aTNNF9nw?event=931647878353522698
Pocket Network v1.0 Persistence Q&A
Validate the state of the engine powering Pocket Network's data storage needs by joining this Q&A with Luis Correa de León, CTO and Co-founder, Pocket Network and Irving Rivas, Communications Chief, Pocket Network
https://discord.gg/aTNNF9nw?event=931648127327424573
Pocket Network v1.0 Consensus Q&A
After digging into the hot stuff that is the v1.0 Consensus specification, join this Q&A with Andrew Nguyen, Protocol Lead, Pocket Network and Daniel Olshansky, Protocol Specialist, Pocket Network.
https://discord.gg/aTNNF9nw?event=931648352846753832
Pocket Network v1.0 P2P Q&A
When we read this Gem of a P2P structure we are hopping with excitement. If you were too, and want to become a leader in v1.0 awareness, push "interested" on this Q&A with Hamza Ouaghad, Protocol Engineer, Pocket Network; Otto Vargas, Blockchain Engineer, Pocket Network and BenVan, Protocol Advisor, Pocket Network.
https://discord.gg/aTNNF9nw?event=931648576025681970
Community-developed Ecosystem Tools
Node Pilot launches support for Harmony
Node Pilot this week delivered one of the most requested features by the Pocket community. It now supports Harmony blockchain!
Some of the key points to note:
- It can take many hours to sync the Harmony node so they advise to not shut down Node Pilot during that time.
- Because Harmony sessions are very heavy on nodes, Node Pilot recommends increasing the vCPU for all POKT nodes to 16. Please see the updated POKT nodes in the hardware recommendations:
https://docs.decentralizedauthority.com/hardware-recommendations
- Harmony nodes will say “Running” even if they are syncing. To learn if your node is synced, check the latest block-height at the Harmony Explorer.
Jump on this update to generate Harmony rewards with your Pocket nodes.
https://twitter.com/nodepilot/status/1484287894789537796
Other Community Updates
POKTpool updates
Poktpool is on its 15th Tranche now with 2000+ members staking varied amounts of POKT!
Average Rewards per Day have temporarily dipped to 75.9 per Day per Node. The team released a statement saying they are actively working with the infrastructure providers to analyze the issue. They are actively examining options while performing small scale testing before making large scale decisions on the solution they find most performant.
One can read the complete announcement in there Discord’s #accouncement channel.
Latest from the poktpool.digest:
https://twitter.com/poktpooldigest/status/1488728993268441088
Poktopus live tweets today’s community call
Poktopus’s Jinx started a thread and did a live tweet of the key highlights from the v1 release. You can read it here:
POKT COMMUNITY CALL LIVETWEET THREAD
— The Poktopus 폭토푸스 | poktopus.eth🐙 (@thepoktopus) January 28, 2022
Poktopus $POKT Giveaway
Community member Jinx plans a #POKTSTORM giveaway on reaching 5k followers on Poktopus’s twitter account.
https://twitter.com/thepoktopus/status/1489399897845649419
Node Runner Office Hours
This week’s Node Runner Office Hours spoke about:
- V1 spec release and future events. Pocket Foundation has done an early release of the technical specs and invited community members to contribute their ideas and be involved in the discussions.
- What are the current and possible ways to gauge the latency and performance of a node.
- Mechanisms for node runners to locate low service areas. Pocket team is currently working on expanding the service regions of Pocket portal. It is upto 15 regions now from 2 regions last year. The team is working on expanding to more regions.
- Current proposals in place to control inflation. There are 2 proposals PUP-11 and PUP-12 that are under active discussion by the community.
- Different options currently available for running nodes and participating in the network.
- A community member asks - “Which component of the Pocket node uses the most resources and why does it use so many resources when they are just conveying relays from blockchains?” There are several factors like read/write of the harddisk storage, opening and closing of sockets while servicing the network, and constantly syncing with the pocket blockchain that are resource intensive.
Watch the video here:
Node Runner Office Hours is a weekly community call that happens every Wednesday at 1 PM, EST. Head over to the Pocket Network discord channel to subscribe to the call next Wednesday.
https://bit.ly/POKTARCADEdscrd
News
What future do you want to live in?
Michael O’Rourke, Co-founder and CEO, Pocket Network answers this in the video with Okcoin. Find out here:
https://twitter.com/Okcoin/status/1488301066705899527
Pocket Network sponsors #ETHDenver 2022
Are you planning to BUIDL @EthereumDenver? RPC endpoints by Pocket Network can be your gateway to the multi-chain metaverse!
Pocket Network has been a regular sponsor of hackathons. Read more about Pocket and it’s similar past endorsements here:
https://www.blog.pokt.network/pocket-network-sponsors-ethdenver-2022/
Web3 Innovations replacing middlemen with middleware protocols
Cointelegraph takes us through the history of middleware protocols and how Web3 protocols are creating value.
https://cointelegraph.com/news/web3-innovations-are-replacing-middlemen-with-middleware-protocols
On a middleware Web3 protocol, developers can stake the native token once for the equivalent network bandwidth for the lifetime of that stake. The longer applications are staked and using the network, the closer the cost approaches zero. After several months, the service is basically free, and with staking-based tokenomics, there are no monthly costs incurred like there are with SaaS infrastructure options
There are different protocols for different layers of middleware infrastructure. For instance, the RPC layer is with the Pocket Network, the indexing layer is with Graph, Akash has the cloud layer, the video transcoding layer is with Livepeer and Arweave, Filecoin and Storj have the storage layer. Because they are at different parts of the decentralized Web3 developer stack, the protocols are complimentary.
Read the complete article here:
https://cointelegraph.com/news/web3-innovations-are-replacing-middlemen-with-middleware-protocols
BlockchainLeaks mentions Pocket Network
A long term crypto and Web3 veteran and Youtube contributor Chico talks about Pocket Network.
Chico talks about the role of Pocket Network in Web3, it’s usecases, how to buy $POKT and the returns for node runners.
Once can watch it here:
Pocket Network is the TCP/IP of Web3 Node Infrastructure
TokenInsight released an in-depth report on Pocket Network this week calling it the TCP/IP of Web3 node infrastructure and giving it a “Positive Outlook” BB rating.
They do an extensive deep-dive into all aspects of Pocket Network. The report starts with recognizing the macro of the situation: Pocket Network is a decentralized blockchain agnostic service providing relays among a sea of centralized competitors.
With decentralization, a core competitive advantage in a "booming market... which has relatively large demands and long-term necessities", "Pocket Network will profit more from the future adoption of Web3" reads the report.
For those looking for a deeper look with an outside perspective, this nearly 20 page report covers everything from our history, details about Pocket's core mechanics, as well as statistics like growth rates, size of our team, and even things like a thorough ecosystem analysis.
https://tokeninsight.com/en/report/2901
Configuring networks with Python Brownie
Codeforests.com shares the ultimate guide on how to configure networks with Python Brownie and how Pocket Network’s infrastructure can be integrated. It also explains how to use Python Brownie to deploy smart contracts and interact with a live contract using python by loading from ABI file or a block explorer. Brownie provides a list of predefined network configurations and gives the flexibility to configure and work on your own customized networks including Pocket Network.
The article walks you through the installation process and then goes on to explain how the library works, how you can add new networks and how you can modify existing networks.
One can switch the network provider from Infura to Alchemy or Pocket Network directly from the command line.
Learn about the complete process here:
https://www.codeforests.com/2022/01/27/python-brownie-network-setup/
What can you do to drive relays and add nodes to the network?
Apps & App Users
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 RPC endpoints for Ethereum, Avalanche, xDAI, Fuse, and/or Polygon 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.
Nodes & Node Runners
Don’t know how to run a node? Check out the Node Runner docs above to learn how.
Try out Node Pilot, it’s the most user-friendly option to spin up both base layer blockchain nodes and Pocket nodes.
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:
https://forum.pokt.network/t/secondary-markets-for-pokt/629
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
🔗 Mint an RPC endpoint for your application
