Aave announced Tuesday about an integration with the distributed network of more than 44,000 nodes on the Pocket Network to enhance decentralised application development.
Following the new integration, the Aave-based DApps can access on-demand blockchain data from Pocket Network.
Aave is an open source and non-custodial DeFi Protocol which enables the creation of money markets. Aave’s native cryptocurrency is called LEND. According to the FCA, Aave’s UK business entity was granted an Electronic Money Institution (EMI) license on July 7.
CEO of Pocket Network, Michael O’Rourke, said, “The goal is to power the next wave of decentralised applications that combine Aave’s best-in-class liquidity market with Pocket’s unrivalled RPC coverage, which now supports 50 blockchains and is well on its way to achieving its goal of 100 blockchains in 2022.”
Pocket Network Inc. is a software startup building a universal, decentralised API protocol for blockchains. Its function is to provide an extensive relay network for API requests from major blockchains. Its cryptoeconomic model can minimise developer costs while delivering value directly to full-node operators.
Pocket provides Remote Procedure Call RPC access to Ethereum, Polygon, and a dozen more blockchain networks.
The integration with Pocket Network provides a more stable development environment to enhance the development of decentralised applications, reduce latency, improve uptime and provide services such as optimised multi-chain data.
According to DEFI pulse, Aave Protocol currently has the fourth highest TVL of $4.86B.
Currently, at $95.91, it is up 33.65% over the past week as of this writing.
Stani Kulechov, the founder of Decentralized Finance (DeFi) lending protocol, Aave has spearheaded the emergence of Lens Protocol, an ecosystem that seeks to boost a permissionless, composable, and decentralised social graph that makes building a Web3 social platform easy.
Image source: Shutterstock