How Can You Use Nkn Token

NKN (NKN)

A Depression Latency, Loftier Bandwidth Information Transmission Network. October 11th 2019

The New Kind of Network (NKN) envisions to further decentralize network resources by enabling internet users to "share network connections and employ unused bandwidth".
NKN features dataRide, a Platform-as-a-Service production, as well as SDKs to develop dApps. NKN itself already launched several dApps, such every bit nMobile (an encrypted secure mobile wallet and chat application), nCDN (a crowdsourced service for content commitment), or D-chat (a server-less, secure, and individual chat).
NKN's underlying blockchain relies on a Proof-of-Piece of work (Prisoner of war) consensus mechanism.
NKN features a utility token that must be used to admission the envisioned decentralized internet as it essentially is a tokenized unit of network connectivity and information transmission adequacy.

one. What is NKN?

NKN is a P2P network connectivity protocol which uses token economical incentives to motivate users to share network connexion unused bandwidth.

NKN has implemented a unique Bulk Vote Cellular Automata consensus algorithm, a Proof of Relay machinery where the expected rewards a node gets depend on its network connectivity and data transmission power. A node proves its relay workload by adding a digital signature when forwarding information, which is then accustomed past the system through a consensus algorithm. The competition between nodes in the network will ideally drive the system towards the management of a low latency, high bandwidth information transmission network.

Besides mining and transaction fees, the NKN token can also be used to purchase services in the NKN ecosystem (nCDN, TUNA, etc) based on bandwidth consumption.

2. Economic science and supply

The supply allocation is every bit follows:

Private Sale: information technology was conducted between February 2018 to April 2018 for 250,000,000 NKN at a rate of 5,400 NKN = one ETH at ~$0.09 and 826 NKN = 1 NEO at ~$0.06, raising a total of viii,031 ETH (~$four.02M) and 250,100 NEO (~$12.50M), selling 25% of the total token supply.
Early Bird Sale: information technology was conducted betwixt ii to 8 Apr 2018 for 50,000,000 NKN at a charge per unit of 4,500 NKN = 1 ETH and raised a total of 11,111 ETH (~$4.20M) at ~$0.084 per token, selling 5% of the total token supply.
Public Sale: information technology was conducted on 19 Apr 2018 for l,000,000 NKN at a rate of iv,150 NKN = ane ETH and raised a total of 12,048 ETH (~$vi.31M) at ~$0.126 per token, selling 5% of the full token supply.

Boilerplate contribution prices vary due to changes in underlying prices to NEO during the Private Sale.

NKN token supply distribtution

NKN token release schedule

The following chart represents the number and breakup of all NKN that are to be released into circulation on a monthly basis.

3. NKN's action and community overview

3.one Development activity

3.two On-chain activity

Strategy overview

NKN's community growth strategies include the following:

Working with exchanges, VCs and partner token projects in joint activities such as conferences, meetups, and hackathons.
Alluring non-crypto users with its upcoming mobile app which has a congenital-in private messaging (D-chat) functionality in addition to NKN wallet.
Publishing blogs to assistance developers build on top of NKN technology.
Providing additional token rewards for the mining nodes in developing countries (run across Africa and Southward America Challenge).

Telegram (English)
Telegram (Chinese)
Twitter (English)
Medium (English)
Discord (English)
Forum (English language)

4. Appendix

Website
GitHub
Team