Pocket enters 2022 fulfilling its mission for a multi-chain future in crypto by integrating a new chain, OEC (formerly OKExChain). Pocket is decentralizing OEC’s node infrastructure and propelling the growth of this new EVM-compatible chain under Cosmos, offering multiple use-cases in decentralized finance (DeFi).
OEC is a new blockchain powered by OKx, a leading crypto exchange, set to revolutionize the way users can trade assets in a decentralized, permissionless, fast, and cheap way.
OEC has multiple applications within decentralized finance, especially concerning the ability to trade assets between chains (e.g., cross-chain bridges, decentralized exchanges, lending protocols), increasing and facilitating crypto adoption. Some of the DeFi protocols with the highest Total Value Locked (TVL) using OEC include Anyswap, Jswap Finance, CherrySwap, and more across sectors.
The multi-chain future of crypto has been the reference point for Pocket, and we’re happy to partner with a new solution, empowering people to experience crypto seamlessly. With OEC, users can now have a full experience in a decentralized environment, leveraged by using Pocket’s decentralized node infrastructure.
How does OEC work cross-chain?
OEC builds upon a new and scalable network set to overcome Ethereum’s challenges with fees/speed and crypto’s multi-chain goals, Cosmos.
Cosmos SDK, together with its Inter-Blockchain Communication protocol (IBC) and Tendermint, allows for developers to create new application-specific (e.g., finance, gaming, DAOs).
OEC is one of the first Ethereum Virtual Machine compatible ecosystems, offering users an easy to swap between Ethereum tokens and deploy Ethereum Dapps on the Cosmos architecture, a key element to bolster cross-chain activity, fulfilling its “internet of blockchains” purpose.
Pocket boosts OEC for a multi-chain future based on the Middleware Thesis
Zee Prime Capital’s Middleware Thesis on Pocket Network aligns with the primary goals of new blockchains like Cosmos and the solutions built on top of it to bolster cross-chain activity.
Pocket is all about connecting blockchain apps to increase the pool of information and contribute to a more robust and complete ecosystem of crypto-based solutions working together.
ZPC’s Middleware Thesis puts Pocket at the center of the crypto ecosystem as the facilitator between novel technologies and legacy solutions so everyone can benefit from the power of blockchain technology, decentralized node infrastructure, and its use-cases.
How can Pocket help new blockchain ecosystems?
Pocket is decentralizing OEC’s full-node infrastructure to offer more security and uptime at a fraction of the costs of current legacy solutions. To empower the future of cross-chain trading, networks like OEC benefit from adopting an external, cost-effective, and globally distributed solution as Pocket.
Until Pocket, EVM protocols like OEC relied upon centralized network providers to fill the gap between applications and blockchain data. Even though centralized solutions solve part of the issue of communication between non-blockchain and blockchain networks, they come with side effects that offset the advantages of decentralized applications. With legacy solutions, the risks of rising centralized monopolies, more security breaches, and higher costs increase, while a solution like Pocket is natively designed for the decentralized world.
With Pocket, developers can easily mint blockchain network RPC endpoints to connect to data from applications through our POKT Portal. Developers only need to stake (if connecting directly via the protocol) Pocket’s native token – $POKT – once to have a guaranteed amount of service relays per session, reducing costs by cutting out recurring payments. The near-zero tokenomics make it so using Pocket becomes much more cost-effective in the medium to long term than any other alternatives, especially since there are no monthly subscription payments.
This cost management is highly important for developers of blockchain applications relying on cross-chain ability, while contributing to its increased adoption. Meanwhile, node operators are incentivized with $POKT to provide reliable, decentralized RPC service at a global scale.
Start working with the OEC chain through Pocket
Developers can now access OEC through the Pocket Portal.
To start working with OEC in Pocket’s decentralized fashion, developers can deploy new RPC endpoints in our API portal and work towards the future of crypto’s interoperability. As part of our free tier offer, developers will be able to mint up to two blockchain RPC endpoints, each with up to 1M requests per day.
Learn more about using the Pocket Portal to mint OEC endpoints and start your journey today!