What is new kind of network
Crypto for Professionals
The New Kind of Network (NKN) is a public blockchain that allows users to share internet access and network resources. This is accomplished by the integration of a number of proprietary protocols, such as a decentralized wallet, blockchain, and data access platforms. The New Kind of Network has grown rapidly since its beginning. The network is now one of the largest in the world. The network now has over 73,000 active nodes spread across 71 countries. Over the course of 2,880,024 blocks, the blockchain has successfully executed 10,416,387 transactions.
The New Kind of Network mixes different protocols to build a market-exclusive environment. To achieve its objective of simplifying and incentivizing data transfer, the protocol offers a remote access system, decentralized chat, wallet, development tools, and more.
The problems it solves are:
- Non-Responsiveness, which developers were also concerned about. Delays in data transfer can render Dapps inoperable and cause them to behave abnormally. The implementation of proximity routing in the New Kind of Market alleviates these concerns. This method allows nodes and clients to take use of the aggregated speed of several routes to accelerate data transfer.
- Security breaches, which is another key worry addressed by the New Kind of Market is data leaks. Data breaches have become more regular and greater in magnitude during the previous five years. To prevent hackers from accessing your data, the New Kind of Network employs end-to-end and hop-by-hop encryption without the use of Public Key Infrastructure or third-party certificates. Furthermore, the protocol functions in a non-custodial mode, which means that your data is only saved on local devices.
The use of NKN also brings you many benefits. For starters, the methodology ensures a high level of openness. The network runs on decentralized open-source technology, eliminating the need for centralized servers. By removing all middlemen from the equation, expenses and transaction complexity are reduced.
Some benefits are:
- Rewards, which regular users are rewarded for their contributions to the network. These economic incentives serve to keep the group together and the network growing. Anyone may earn a passive income by just sharing their internet connection and bandwidth. Notably, prizes are distributed in NKN, the platform's utility coin.
- Scalability is one of the most significant advantages of the New Kind of Network. Because of its technical foundation, the platform is indefinitely expandable. It can support an arbitrary number of consensus nodes, perhaps in the millions. With the addition of more nodes, the network's throughput only grows.