What is NKN?
NKN (New Kind of Network), a young project, wants to be the “internet revolution”. The team behind it is working on a project that will change the Internet’s architecture to improve security and decentralization.
NKN, a new type of network connectivity protocol & eco-system powered by blockchain, is a platform for open, decentralized and shared Internet. This is how the creators of the technology describe it.
The NKN team isn’t just any group of guys. Twelve scientists have contributed a significant amount to the development of Linux, Microsoft, Google and Oracle. Only a few projects might have such scientific potential.
A New Kind of Network
The goal of NKN is to maintain a decentralized data network. The goal is to ensure maximum decentralization of the network, which is composed of independent nodes called “cellular automata”. The technology also offers a new solution to blockchain scaling, which is based upon the Proof of Relay (proof of transmission).
NKN (New Kind of Network), operated the Firefox testnet that was launched June 16, 2018. Mainnet V. 1.0 (Narwhal), was launched July 1, 2019. The platform is still in the maturation phase. The mainnet is home to over 16,000 consensus nodes. They are based on MOCA consensus algorithm. This algorithm supports horizontal scaling and can support an arbitrary number of consensus nodes.
Future Perspectives of NKN
This is today’s most technologically supported and theoretically sound project to decentralize the Internet. Let’s take a look at the situation from various angles.
Positive elements:
A group of talented scientists
This is a novel technology that works in both words and deeds.
Relevance is becoming more important as the Internet feels the need to decentralize.
The promised transition from mainnet made all the difference
Several NKN-based products are also being developed. Among them are nCDN (a solution to CDN), D-Chat, a decentralized messaging app with encryption and end-to-end encryption, Space Cats (3D action multiplayer online game) and D-Chat.
Negative elements:
Marketing-marketing policies are not well-designed.
Poor interaction – the website and its accompanying documentation are difficult to understand for both regular users and crypto enthusiasts.
Inadequate accessibility – regular users are not given enough information about the benefits of the project.
NKN Fundamental Analysis
The New Kind of Network is a decentralized, open-source blockchain platform. It aims to address a number of problems that have plagued peer-to-peer network over the years. The limitations of next-generation blockchain systems are limited by centralization, financial motivations, authorization barriers, scaling constraints and scalability. NKN was established to address the inefficiencies and limitations of the Internet. NKN, like Bitcoin, does not rely on institutions or banks to verify financial transactions. It wants to facilitate global data transfer without relying upon large telecommunication monopolies. The network can solve several problems, including inefficient bandwidth use, widespread censorship by governments and invasion of users privacy. NKN uses its own consensus mechanism, “Proof of Relay” or PoR. PoR is a reward system that encourages blockchain participants to share their bandwidth and connectivity in return for rewards. Contributing to the data transfer layer is what mining is all about. Participants receive rewards for using more network resources than they consume. Due to its security and connection speed, the NKN cryptocurrency is the future of cryptocurrency. It also boasts amazing connectivity, which it updates almost daily. NKN is doing something extraordinary in this field, unlike other projects that use buzzwords such as “innovation” to promote projects. It is slowly, but surely climbing up the ladder.
In January 2018, the Federal Communications Commission approved the removal of Net Neutrality. The project was then launched. NKN was faced with enough challenges in the current state of the Internet, so they came up the idea of a global network of nodes that could connect from anywhere, at any time. NKN, which has more than 101,000 nodes and Bitcoin having approximately 10,000, is the largest blockchain network in the world at the time of writing.
NKN uses the Proof of Relay algorithm. This is a signature mechanism that incentivizes all agents to share their bandwidth and connectivity with the blockchain in return for rewards. It ensures that both network connectivity and transmission speed are maintained at the highest possible standards. While Bitcoin and Ethereum offer Proof of Work rewards in exchange for computational power, they do not yet have the ability to tokenize data transmission power or connectivity. This makes it possible for hundreds of DApps, which are supported by a solid network infrastructure, to flourish.
NKN Cryptocurrency
Before the launch of the testnet in May 2018, the world had already seen NKN’s cryptocurrency. This is what fuels the platform. It was built on NEP-5 protocol. NKN is a reward for network participants who act in the role of “network cells” and transmit information.
The token can now be traded on Gate.io and Huobi Global exchanges. It was priced at $0.37 at its initial price. October 10, 2019, Binance launched Community Coin Vote with NKN, and VIDY as its contestant. NKN won and was listed on Changpeng Zhao’s Exchange.
NKN Prediction
We have compiled the most reliable price projections of NKN (NKN), from various forecast platforms.
#1. #1.
According to WalletInvestor the NKN’s price will rise from $0.6668 to $0.141 over a year. This makes NKN a great investment. The long-term earning potential for NKN is 71.12%. The predicted price at the end 2026 is $2.672.
#2. #2.
TradingBeasts has the answer to the question of whether NKN is a good place to invest. This coin’s price is expected to be $0.8267400 in 2021, with a drop to $0.7313906 at the end of 2022.
#3. #3.
DigitalCoin analysis shows that the price of NKN cryptocurrency is expected to rise over the next five years, from $0.652 today’s price to $2.435. It will rise to $1.095 in 2022, and then continue growing in 2023-2024. The forecast shows that NKN is a profitable long-term investment.
NKN
Simple To Use
NKN makes it simple for everyone to use our services. The code is available in many programming languages, making it easy for developers to use.
Optimized Route
The NKN network finds the best route to its destination every time. Data is relayed using our “proximity routing algorithm”.
Private Delivery
NKN does not require an IP address to function. The data is only stored on the local device and guarantees maximum privacy and security.
Summary
The New Kind of Network (NKN), a promising project, has the potential to be a viable alternative to the current Internet. In the crypto space, decentralization is a great idea. It seems that being able offer the network on which all other blockchains and platforms are built, and where all the data can be transferred from one place, is very much in line with the goals of the entire crypto industry. Although it will be difficult to compete directly with telecom giants in most markets, it isn’t much different from what Bitcoin is doing with the entire financial sector, which is admittedly more difficult to defeat. This project, which has been developed by some of the most talented developers in the industry, is likely to have a positive outcome. They still have plenty of room for growth of their impressive network of nodes.
NKN Predictions – FAQ
IS A GOOD INVESTMENT FOR 2021?
According to our forecasts, the NKN prices will rise. Currently, the NKN cost is $0.5139530. However, by 2021, it is expected that the average NKN value will be $0.5961214.
WHAT WILL BE THE NKN PRICE OCTOBER 2021
By October 2021, the NKN price will reach $0.5892649 The maximum price is expected to be $0.7365811, while the minimum price will be $0.5008751 The NKN price prediction at the end of the month for $0.5927461.
WHAT WOULD 1 NKN GET IN 1 YEAR?
The NKN price for September 2022 is expected to average $0.6268809. The maximum price is expected to be $0.7836012, and the minimum price will be $0.5328488.
WILL NKN GO UP IMMEDIATELY IN 2022?
According to our forecasts, the NKN prices will rise. Currently, the NKN cost is $0.5139530. However, by 2022, the average NKN value will be $0.6369276.
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