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- What? You can now deposit, withdraw, and trade POKT against USD on Okcoin. You can also get a free $50 in POKT!
- Who? All Okcoin customers except for residents of the EU, the UK, Singapore, and Brunei.
- When? Deposit, withdrawal, and trading are live as of January 25.
What’s Pocket Network’s token, POKT?
POKT is the native token of the Pocket Network. What is it for? It’s pretty simple: The issue a number of decentralized finance platforms face is that they have to rely on a handful of centralized services, especially when it comes to data distribution and storage. The aim of the Pocket Network is to replace these solutions by offering data services connecting decentralized applications (dApps) and blockchains in a truly decentralized way.
Instead of pulling data from a handful of servers, Pocket can pull data from thousands of independent full nodes. This distributed architecture allows it to offer lower fees and more resilient service than centralized services. That’s why Pocket calls itself “a protocol, not a business”. Access to the protocol can either be a quick and easy plug or a fully customized solution, depending on the dApp’s needs.
Pocket runs on a proof-of-stake consensus mechanism and POKT can be used to:
- Run network validation nodes
- Run network throughput
- Pay for transaction fees and data storage costs
Buy $50 in POKT, and get a chance to claim an extra $50 on us. Space is limited so don’t wait. Here’s what to do:
- Complete our promo form below
- Buy or trade $50 in POKT by February 8 at 11:59 pm PT
- Complete verification level 2
Terms and conditions apply. Learn more
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.