Thursday, July 25, 2024

Aave partners with Pocket Network, increases scalability and DApps.

Open source DeFi protocol Aave is teaming up with Pocket Network to offer developers increased scalability and ease of use when building decentralized applications (DApps) on the Aave Protocol.

The protocol will use Pocket’s distributed network of more than 44,000 nodes to access on-chain data from various blockchains to power DApps. Michael O’Rourke, CEO of Pocket Network, said they want to power the next wave of decentralized applications that integrate Aave’s best-in-class liquidity market with Pocket’s unrivaled RPC coverage. It now supports 50 blockchains and is well on its way to achieving the goal of 100 blockchains in 2022.

The agreement came about through a Grant for the purchase of the required Pocket Network’s native token POKT for Aave’s frontend traffic. Aave utilizes Remote Procedure Calls (RPC), from various infrastructure providers, to meet its demands. They can become unruly and cause user experience to deteriorate as the solutions have varying degrees of reliability.

As such, the new connection is intended to alleviate these problems. It will aaoffer Aave a more stable and durable infrastructure solution for its decentralized apps. Aave, as per DeFi Llama’s analytical data, is the third most valuable protocol in terms of total value locked (TVL) ranking. It has a current price of $95.91 and a TVL worth of $6.1 billion. Furthermore, Aave’s liquidity is derived from Ethereum and Polygon (MATIC) as the majority of its operations span multiple blockchains.

Pocket Network also offers RPCs for these networks. It lowers latency, improves uptime, and provides optimized multi-chain data services.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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