nkn3lPrice

(NKN3L)

NKN (New Kind of Network) is an open-source, blockchain-based network providing peer-to-peer (P2P) connectivity. Its mission is to incentivize internet users to optimize bandwidth for improved speeds and lower costs. It aims to disrupt the centralized client-server internet model by decentralizing computing power, similar to how blockchain decentralized finance. NKN addresses issues like unused data, inefficient network connectivity, compromised network neutrality, and limited privacy safeguards prevalent in current internet infrastructure.

NKN operates using a Proof-of-Relay (PoR) consensus mechanism, rewarding miners for relaying useful, real-world data across the network. It employs a distributed ledger of P2P nodes to identify and record validated network traffic transactions. The network is designed for high scalability, supporting millions of nodes, and integrates a novel consensus algorithm called MOCA (Majority Voting Cellular Automata). NKN functions as an overlay on TCP/IP, ensuring compatibility with existing internet protocols while introducing decentralization.

The NKN token is the native cryptocurrency of the New Kind of Network, serving primarily as a utility coin. It enables digital asset transfers, payment for data transmission resources, and bandwidth purchases within the network. Users can earn NKN tokens through mining, which involves sharing their network connection and utilizing unused bandwidth. The maximum supply is capped at 1,000,000,000 tokens. Its tokenomics allocate 30% of tokens for mining rewards, incentivizing bandwidth-sharing nodes.

NKN aims to position itself as a critical pillar within a blockchain-powered internet. It offers decentralized solutions for various services including web hosting, communication, IoT connectivity, and distributed cloud storage. The project differentiates itself by disrupting traditional centralized internet and telecom models. While the text doesn't name specific competitors, NKN's vision implies competition with existing centralized internet service providers and traditional cloud infrastructure, by offering a decentralized alternative.

Users can actively participate in the NKN network and earn tokens by running nodes and sharing their network resources. NKN simplifies the mining process, requiring only basic hardware like a home router or personal computer with a stable internet connection. Node operators need at least 1GB of RAM (1GB recommended) and a decent CPU. Additionally, a public IPv4 address or properly configured port forwarding for TCP/UDP ports 30001–30003 is necessary to run a node effectively and contribute to the network.

Blockchain technology is essential for NKN because it enables the creation of a truly decentralized network for shared bandwidth. This approach addresses fundamental issues inherent in traditional centralized internet infrastructures, such as privacy concerns, inefficient resource allocation, and a lack of network neutrality. By leveraging blockchain, NKN can incentivize users to contribute bandwidth, maintain network integrity through its consensus mechanism, and ensure that the network remains open, censorship-resistant, and controlled by its participants rather than a single entity.