The New Kind of Network (NKN) is a public blockchain designed to facilitate the sharing of internet connectivity and network bandwidth. The platform accomplishes this task through the integration of a variety of proprietary protocols including a decentralized wallet, blockchain, and data access systems. Since its inception, the New Kind of Network has seen rapid expansion.
Today, the network operates as one of the largest in the world. The network currently hosts +73,000 active nodes located across 71 countries. The blockchain has successfully completed 10,416,387 transactions over 2,880,024 blocks. Here are some of the reasons why the New Kind of Network continues to expand.
What Problems Does New Kind of Network (NKN) Solve?
Another major concern for developers was responsiveness. Delays in data transmission can make Dapps unusable and act erratically. The New Kind of Market reduces these issues through the introduction of proximity routing. This strategy enables nodes and clients to leverage the aggregated speed of several routes to speed up data transmission.
Another major concern that the New Kind of Market addresses is data breaches. Over the last five years, data breaches have become more common and larger in scale. The New Kind of Network incorporates end-to-end and hop-by-hop encryption without Public Key Infrastructure or 3rd party certificates to prevent hackers from accessing your data. Additionally, the protocol operates in a non-custodial manner meaning that your data is stored only in the local devices.
Benefits of New Kind of Network (NKN)
There are a variety of benefits that New Kind of Network users gain when they join the platform. For one, the protocol provides a high level of transparency. The network operates as a decentralized open-source code that eliminates the need for centralized servers. The removal of all middlemen from the equation reduces costs and the complexity of transactions.
Regular users gain rewards for their network contributions. These economic incentives help to keep the community in unison and the network continually expanding. Anyone can secure a passive income simply by sharing their connectivity and bandwidth. Notably, rewards are paid out in the platform’s utility token NKN.
One of the biggest advantages of the New Kind of Network is its scalability. The platform is infinitely scalable due to its technical structure. It can support an arbitrary number of consensus nodes into the millions. The throughput of the network only increases with the addition of new nodes.
Source : www.securities.io/investing-in-new-kind-of-network-nkn-everything-you-need-to-know/ by David Hamilton - November 16, 2022