Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Aave uses Pocket Network to improve the development of decentralized apps


Aave (AAVE), an open source decentralized finance (DeFi) protocol, has teamed up with decentralized Web3 infrastructure provider Pocket Network to help developers make decentralized apps (DApps) on the Aave Protocol that are more scalable and easier to use.

A statement released on Tuesday says that Aave will use Pocket’s global network of more than 44,000 nodes to access on-chain data from several blockchains to power decentralized apps. With the new link, developers of Aave-powered DApps can now access blockchain data from Pocket Network whenever they want. The chief executive officer of Pocket Network, Michael O’Rourke, said:

aave protocol
AAVE protocol

“The goal is to power the next wave of decentralized applications that combine Aave’s best-in-class liquidity market with Pocket’s unrivaled RPC coverage, which now supports 50 blockchains and is well on its way to achieving its goal of 100 blockchains in 2022.”

The Aave Grants DAO made this deal possible by giving a grant to buy the Pocket Network native token POKT that was needed for Aave’s front-end traffic. Aave currently uses many Remote Procedure Calls (RPCs) from different infrastructure providers to meet its needs. Because these solutions aren’t always reliable, they can sometimes get out of hand and ruin the user experience.

The new connection with Pocket Network is meant to fix these problems by giving Aave’s decentralized applications a more stable and secure infrastructure.

Defi Llama’s analysis shows that Aave is the third most valuable protocol in terms of total value locked (TVL). As of this writing, Aave has a price of $95.91 and a total value locked (TVL) of $6.1 billion. Since it works on many blockchains, Aave gets most of its liquidity from Ethereum (ETH) and Polygon (MATIC). Pocket Network also offers specialized RPCs for different networks, which reduces latency, improves uptime, and makes multi-chain data services run better.

Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them.

Recommended Posts

Leave a Reply

Your email address will not be published. Required fields are marked *