New Kind of Network is an ambitious project that uses token incentives to encourage users to create a decentralized Internet network without the need for a third party. So what is so special about the new network? Please continue to learn about it below!
What is the new network?
The new network is a PoW blockchain founded by NKN, a non-profit company based in Singapore, which aims to create an ecosystem to help connect peer-to-peer (P2P) networks to each other.
The new network uses economic incentives such as token rewards to encourage users to share their network connections and make full use of unused bandwidth. Through efficient infrastructure and open connectivity, NKN enables application developers to build a globally connected, secure Internet at low cost to serve everyone.
Features of NKN include:
Enable users to easily use the platform's services and products.
Uses a "neighbor routing" algorithm to determine the fastest path for forwarding data.
It works without using direct IP addresses.
Highlights of the New Kind of Network:
Millions of nodes
The new network uses a new consensus algorithm called MOCA, which can support millions of nodes and has unlimited scalability. Currently, the number of nodes in the new network is 25,000, which exceeds the number of nodes in the Bitcoin and Ethereum blockchains.
High bandwidth
The new network also has a higher throughput due to the large number of nodes, so users can take advantage of the system's superior performance to increase network connection speeds.
No server required
The new network is a completely decentralized network with a peer-to-peer network architecture that does not require a centralized server. This reduces operating costs and eliminates the possibility of single points of failure or centralized attacks.
Unique global ID
The new network allows users to discover and search for applications and services anywhere through a unique global ID.
High security
The new network works without using IP addresses. Data is stored only locally on your device, ensuring maximum privacy and security at all times.
Low latency
Data transmission in the new network is carried out off-chain, and there is no limit on the consensus speed. Therefore, the network speed will be greatly improved while minimizing the delay.
New Kind of Network Products
nConnect
It is a remote access solution with advanced security and optimal privacy. Users can access all their personal data anytime and anywhere with just one click.
nMobile
nMobile is a mobile application that allows users to chat with each other and has an integrated cryptocurrency wallet that allows them to exchange tokens with each other. nMobile is special in that it does not require a centralized server, eliminating the possibility of privacy and security vulnerabilities.
dataRide
Built on decentralized servers, dataRide provides customers with fast, reliable, secure and low-cost messaging, streaming and file transfer services, as well as resources for developers to write applications.
nCDN
As a cloud network, nCDN provides services that enhance the performance of websites, videos, and all multimedia content. nCDN can operate 24/7 with high speed, low latency, and very low cost.
In addition, there are several other applications available for community use, such as: D-chat, Surge, nknX, nStatus, NKN shell, nFile transfer, Vault, and nScan.
The New Kind of Network development team and advisors include the following members
Yanbo Li: Founder of the new network and the main developer of the project. Prior to this, Yanbo Li was the co-founder of Onchain.
Bruce Lee: Co-founder of New Networks and an expert in innovation and strategy. He has led research teams in China, the US, and the EU at Google and Nokia.
Yilong Zhang: Co-founder, researcher, and developer of New Web.
Allen Dixon: A legal and business development expert for new networks. Previously, Allen worked for giant companies such as Nokia.
New Kind of Network's mentors are Dr. Whitfield Diffie and Dr. Stephen Wolfram, both scientists with extensive experience in the technology field.
Development Partners
The novel network is partnering with many projects, including well-known names in the cryptocurrency market such as Genesis, Harmony, IoTeX, XRP Capital, and others.
Development Roadmap
The development roadmap of the New Kind of Network includes two parts: technology and commercialization. However, the project did not provide a specific development timeline and completion goals.
Token Economic Model
The token distribution ratio and release plan are as follows:
Miners - 30%: dedicated to mining for 25 years after the mainnet launch.
Token Sale (Purchasers) – 35%.
Development Team - 18%: Unlocked within 3 years, releasing a certain number of tokens each year.
NKN Foundation - 17%: Unlocked within 3 years, releasing a certain amount of tokens each year.
Token Usage
In the New Kind of Network ecosystem, NKN tokens are used for the following purposes:
Pay the gas bill.
Protocol management.
As a reward for miners.
NKN Token Trading
NKN tokens are currently traded on major exchanges such as Binance, Coinbase, Kucoin, Gate.io, Bitget, etc.
Summarize
The above is all the information about the New Kind of Network project, which aims to help connect peer-to-peer (P2P) networks. Through this article, you should have some basic information about the New Kind of Network project so that you can make your own investment decisions. Wish you good luck!
