Pocket Network Announces Closing of its Strategic Private Sale Led by Blockchain Industry Leaders

cryptonews.com:

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Pocket Network exceeded USD 56,000,000 in monthly revenues in December placing it in the Top Five revenue producer for blockchains globally surpassing many well known chains.

Tampa Bay, Florida, U.S.A – 6th January 2022 - Pocket Network – an infrastructure middleware protocol which provides decentralized cloud computing and abundant bandwidth on full nodes to other applications across 20 blockchains, including Ethereum, Polygon, Solana and Harmony has closed a strategic round of USD 10 Million led by Republic Capital, RockTree Capital, Arrington Capital and C2 Ventures, as well as other notable participants such as Coinshares, Decentral Park Capital and Dominance Ventures.

Pocket Network has gone from tens of thousands of weekly relays at the start of 2021 to over two billion relays in a single week in December and is rapidly scaling as demand from L1s and dApps for its services increases. For the month of December, relays were 5.5 Billion compared to 89M 12 months earlier.

Since July, Pocket Network’s usage has more than doubled monthly, measured in “relays” which are API calls processed by the protocol. Just this past week, it broke its average daily record by serving 300M+ relays. The growth in network usage has resulted in corresponding node growth on a network now served by over 18,000 nodes run by hundreds of independent community parties and providers.

With total network revenue exceeding USD 56 Million in the month of December, Pocket Network is already comparatively amongst the Top 5 revenue producers for all blockchains and blockchain applications globally (source data from Token Terminal*), while remaining relatively under the