1st April 2021
In this episode of the DeFi Download, Piers Ridyard interviews Michael O’Rourke. Michael is the co-founder and CEO of the Pocket Network. Pocket allows developers and users to trustlessly access the full API for any blockchain client across a global, distributed network of node operators.
Pocket is a middleware protocol that sits between the user of any DApp and the blockchain that they are accessing. Pocket is not a smart contract platform but an application-specific independent blockchain meant to ensure redundant, cost-efficient infrastructure for DeFi applications.
[00:00:47] What is the primary reason for Pocket’s conception and development?
[00:03:28] What does the term “full node” mean? What is a Bitcoin full node?
[00:04:33] Delving deeper into the “Don’t trust, verify” adage: What are the universal aspects that a user or developer would want to be verifying, rather than trusting the network?
[00: 07:58] How much storage space is currently required to run a full Bitcoin or Ethereum node?
[00: 08:57] What is the user load on Coinbase that necessitates the use of two full nodes for every 1000 people?
[00:10:33] A simplified description of the behind-the-scenes operations of public ledgers dealing with requests while processing a transaction.
[00:14:21] The challenge of running a full node, which dictates interfacing with trusted companies.
[00:17:22] The Pocket alternative: Entities currently running full nodes for their users are no longer forced to pay to operate their own infrastructure directly. They may instead rely on Pocket, a secondary network designed specifically for query requests. How can these entities be assured that the service provided by Pocket is as reliable as running their own node?
[00:21:20] Pocket’s handling of throughput: If an application receives millions of requests every day or hour, how does Pocket ensure that the network remains synchronised and dishonest actors are caught and punished quickly enough?
[00:24:46] Why is Pocket less expensive than rival solutions such as Infura?
[00:32:33] How does Pocket’s security function? Does it use a proof-of-stake algorithm? How does the POKT token work?
[00:35:17] Recent Pocket Network statistics. How many nodes does it have?
[00:37:04] What types of applications has Pocket begun to work with, and what kinds of request data is it currently dealing with, in terms of current usage?
[00:38:31] What difference in experience can a user expect if they switch from using the current MetaMask query nodes provided by MetaMask to using the Pocket network as the query ledger?
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