7 min read

July 2021 Newsletter

July 2021 Newsletter

July was a month full of growth! In this newsletter you’ll find our network statistics, developer updates, community, economic & governance updates, news, and finally a wall of tweets in which we highlight this month’s amazing tweets by the community!

📈 Network Heartbeat 🩺
Throughout July, blockchain applications using the Pocket Gateway have driven a total of ~207.1  million requests. All of which were successfully processed by the network.

In this timeframe, that means nodes have minted a total of 2.07M  POKT, with 89% going to the service nodes (1.84M  POKT), 10% going to the Pocket DAO (207.1K POKT), and 1% going to the block producers (20.7K POKT).

At the time of writing this, there are 4,374  staked nodes in Pocket Network.

Refresh of Weekly Relay Recap #33

Pocket Gateway Stats 07/01 to 07/31

07/01 to 07/07: 19,659,685

07/08 to 07/14: 35,810,275

07/15 to 07/21: 47,913,884

07/22 to 07/28: 77,806,047

AVG Relays per DAY (in MAY): 5,474,895

AVG Relays per DAY (in JUNE): 4,355,167

AVG Relays per DAY (in JULY): 6,681,276

AVG Relays per Week (in MAY): 38,324,267

AVG Relays per Week (in JUNE): 29,502,746

AVG Relays per Week (in JULY): 51,779,890

Total Successful Relays in MAY: 169,721,755

Total Successful Relays in JUNE: 130,655,021

Total Successful Relays in JULY: 207,119,561

For the last week of July, node operators served 77.8M relays from blockchain applications. That means they generated 778.0K POKT with 89% going towards the service nodes (692.4K POKT), 10% going towards the Pocket DAO (77.80k POKT), and 1% going towards the block producers (7.78K POKT).

Highest Relay Day in MAY: 6,722,197 (MAY 28th)

Highest Relay Day in JUNE: 6,561,442 (JUNE 10th)

Highest Relay Day in JULY: 16,062,953 (JULY 23rd)

The number of active validator nodes is currently at 4,374. With 1,200 validator nodes in jail that are expected to be active again in the near future. With that, there’s 87.5M POKT staked on active validator nodes and 83M POKT staked on jailed validator nodes.

If you’re new to running a node or you’re looking to get started with a node, then learn more here.

🧰 Developer Updates

Chain Halt Post-Mortem
In case you’ve missed it, on June 30th, 2021, the Pocket Network blockchain halted due to a number of different factors.

It's important to note that no applications lost service during this event because our Portal automatically switches to "alturism mode" if a problem is identified.

There was a bug in RC-0.6.3 through RC-0.6.3.2 which caused the signing info to be deleted when edit stake transactions were submitted while out of jail, both preventing the nodes from signing blocks and preventing the jailing of non-signing blocks. This bug was not present in mainnet until the edit stake feature was activated when the consensus rule change of PIP-4 took place.

The final resolution of the halt was achieved with a combination of measures: The deployment of a code change in 6.3.3 that avoids the loss of signature information Ensuring deterministic proposer selection by removing last CommitInfo A servicing fix where the session generation algorithm was using the legacy selection mechanism

If you’re interested in learning more about the Chain Halt complications, fix, and/or FAQs, check out the post-mortem forum thread: https://forum.pokt.network/t/chain-halt-post-mortem-qa-enhancements/1067

⚖️ Economic & Governance Updates

All-hands Community Call Recap
Last week, various members tuned in on Discord for the all-hands community call.

During this call, the following items were focused on:

  • Pocket Portal Demo
  • POKTscan block explorer preview (still in development)
  • Node Pilot updates
  • And more...

Missed the call? No problem! We’ll provide a recap on our forum shortly.

If you have additional comments or feedback, feel free to add a comment to this forum thread.

Governance Updates
July was a month full of amazing developments and updates. The community (and DAO) participated actively on our forum and Discord channel.

There haven’t been any new proposals that could be voted for, or passed. The most recent proposal to pass was PIP-6.2: Settlers of New Chains.

We’d love to remind you of the POKT Arcade though! We’ve been seeing an increasing interest in completing quests to earn a DAO vote, and we’d love to welcome you to participate if you’re interested!

This would enable you to not only make your voice heard even more, but also to have an actual vote in all proposals.

We’re excited to announce we’ve now got our first community generated ‘’Savant’’. Mentioned in last month’s newsletter, a Savant is an elite level developer who has contributed to many different aspects of the community. Congratulations to ChrisOG, you’ve earned it!

In addition our Governance lead Jack, joined other leads from the likes of Sushi, Yearn, and BanklessDAO to during the "Fair Launch Summit" put on by fellow alchemists.

wPOKT update

The Pocket team has made advancements in the wPOKT bridge project. This is final component to wPOKT since the completion of the application and smart contracts earlier this summer. A lot of team resources has been dedicated to pursuing and reviewing contractor proposals from qualified entities.

Good progress is being made and more information on this will follow shortly.

📰 News

Settlers of New Chains is Live!
With Settlers of New Chains now live, Pocket Network entered a phase that has been long-awaited. We now went multi-chain and already support multiple blockchains, with more to follow!

The currently supported blockchains are:

  • Avalanche Mainnet (0003)
  • BSC (0004)
  • BSC Archival (0010)
  • Fuse (0005)
  • Ethereum Archival (0022)
  • Ethereum Archival Tracing (0028) - an archival node with “trace_” API functions, either OpenEthereum with archival pruning or Erigon
  • Ethereum Ropsten (0023)
  • Ethereum Kovan (0024)
  • Ethereum Rinkeby (0025)
  • Ethereum Goerli (0026)
  • POA xDAI (0027)

The team is currently making preparations to also support Polygon Archival (000B) and Fuse Archival (000A), which is planned for next week (4th of August).

For a live full overview of all supported blockchains, navigate to https://docs.pokt.network/home/resources/references/supported-blockchains at any time.

Note: For any blockchain, please do not add them to your ‘pocket node stake’ until you have ensured your node is working correctly. Otherwise your Pocket node will be slashed.

If you are a Node who wants to start earning revenue from any of these chains, head to the #node-runner Discord channel for help getting started.

The Pocket Portal is here!
Besides Settlers of new Chains, the Pocket Portal is now live!

For all details, check out our official announcement.

The Pocket Portal is an open-source front-end for accessing decentralized infrastructure via Pocket Network. Available for every blockchain that Pocket supports (mentioned above).

We want to do Web3 right, and with that make it as easy as possible for developers to switch over their applications to our decentralized infra. Therefore, developers that choose to migrate their application to our network can (temporarily) sign up for a free tier.

This free tier offers you:

  • 4 endpoints, which you can use for any of the supported blockchains
  • 1 million free daily relays per endpoint (pre-staked with POKT by us)
  • Easy tracking and managing your application across any chain in our interface

We’re excited to have seen various developers already take advantage of this, and would love to welcome you. If you have any questions or comments regarding this, feel free to check out our FAQ or join us on Discord.

Fuse, the fastest growing platform on Pocket Network!
Since the release of “Settlers of New Chains” a DAO led process for onboarding new blockchains into the network, Fuse has been the fastest growing platform to date!

Fuse is a PoS blockchain platform we've been working closely together with since February, and now, we are excited to formally announce Fuse will be using Pocket (the protocol) as a primary infrastructure provider for its ecosystem!

Learn more about the collaboration, why you should love Fuse, and how to get involved in our official announcement: https://www.blog.pokt.network/fuse_on_pocket_network/

🐦 Wall of Tweets and Memes

🌉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