June 29, 2022

Lessons from the Bull Market with Michael O’Rourke

Lessons from the Bull Market with Michael O’Rourke

Michael O’Rourke, Founder of the Pocket Network, discusses Pocket Network, scaling Web3, incentivizing nodes, benefits of the bear market, and much more.

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Today’s guest is my friend Michael O’Rourke, Founder of the Pocket Network. Pocket network is a decentralized infrastructure for developers who want to build peer-to-peer applications. So the idea is you could connect any app to any blockchain through decentralized infrastructure. And the idea is that Pocket can allow for the exponential growth of cryptocurrencies and a more accessible environment for people worldwide. More specifically, Pocket is a blockchain relay network for decentralized infrastructure and full node incentivization. Before starting Pocket, Michael was an IOS developer and solidity dev. He also is the founder of the Tampa Bay Blockchain Developer Meetup. We discuss a variety of different topics, including the Pocket Network, scaling Web3, incentivizing nodes, benefits of the bear market, and much more. We begin our conversation by discussing Pocket’s progress since the last time Michael was on the podcast. We also discuss the growth of the PoktDAO and the importance of striving for decentralization. Michael explains how the community is involved in how the protocol evolves and adheres to the protocol's constitution. We discuss what Michael and his team have learned over the last year when Pocket experienced exponential growth and adoption. Michael stresses the importance of transparency and communication as the two most vital things to strive for when building a layer 1, like Pocket. Michael shares how large Pocket has gotten over the last year and how that has impacted the cost of the network. We discuss the turmoil that has plagued crypto as of late due to the unraveling of various centralized lenders. Michael shares an excellent point about how DeFi is weathering the storm much better than their centralized counterparts. We transition to discuss how the dynamics of the bear market have changed. We discuss how fewer people are leaving the space during the bear market. We transition to discuss the stable coin market. We touch on the various stable coins and the future of stable coins. Our next conversation topic centered around stETH and liquid staking. Michael explains the benefit and the problem with liquid staking. We finish our conversation by discussing the opportunities in a bear market and why this is the best time to join the space. Please enjoy my conversation with Michael O’Rourke.


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