LATOKEN Review: New Kind of Network (NKN) — Internet on a blockchain
LATOKEN specialists are always interested in new projects, especially if they have the potential. Today we would like to leave a review for a New Kind of Network — the Internet on a blockchain. What is it, and why it has so much potential? Let’s find out today.
Description of the project
NKN (New Kind of Network) is a new project aimed at rebuilding the Internet, which will be open, decentralized, dynamic, secure, shared, and owned by the community. NKN intends to implement Cellular Automata for innovation on multiple core layers throughout the stack. First of all, the project will focus on decentralizing the network in a broad sense, from application connectivity to network protocol. Secondly, the project intends to improve the underlying blockchain technology to achieve efficient and fair consensus without sacrificing node equality and decentralization. Finally, the project will leverage blockchain to maximize the use of network resources and stimulate the creation, participation, and expansion of a community-based network.
What problems does technology solve
Peer-to-peer (P2P) networks currently face several major challenges that are opportunities for NKNs:
- A static network topology is vulnerable to errors and malicious attacks
- There is no economic incentive for the network connection and data transfer scheme.
- Network scalability is sacrificed to improve manageability
- any node from anywhere can connect to a completely open network
- promote network sharing
- consolidate net neutrality from network-level innovations
- the network must always be open and scalable
- perform efficient and dynamic routing
- denote network connectivity and data transfer of assets and stimulate
- participating nodes
- create a new generation of the blockchain network
A new kind of network
NKN is the next generation of peer-to-peer network infrastructure built on blockchain technology based on the Cellular Automata Theory.
Cellular Automata (CA) is a state machine with a set of nodes, each of which changes its state after a local rule that depends only on its neighbors. Each node of the NKN network is constantly updated based on the current state of its neighbors.
NKN is the third element of the blockchain-powered Internet
Bitcoin and Ethereum are responsible for computing power, IPFS and Filecoin are responsible for data storage, and NKN is responsible for the network.
NKN offers Proof of Relay (PoR) by providing a more decentralized, dynamically evolving, self-organizing, and self-evolving infrastructure network and developing a whole new set of consensus-building mechanisms. PoR does not waste resources; participants are rewarded by providing more network resources than they are consuming. NKN uses PoR mechanism to guarantee network connectivity and bandwidth.
NKN has several advantages over existing platforms. NKN is a perfect networking platform for developing decentralized applications.
The NKN incentive model rewards people for joining the network by creating a huge market. NKN strives to provide better connectivity, stimulate unused network resources, and expand the public network.
Compared to existing systems, NKN is more suitable for P2P data transfer and connection.
In terms of computing infrastructure innovation, NKN will revolutionize the blockchain ecosystem. NKN will be the third and probably the last piece of Internet infrastructure — the network.
The New Kind of Network (NKN) emerged over the past month as one of those unexpected revenue streams, surging 1400% from a low of $0.052 on March 8 to a new all-time high of $0.779 on April 6.
Since its launch in January 2018, the project has grown steadily to quietly become the largest blockchain network globally in terms of full consensus nodes, according to the project’s website, with 67,266 nodes currently online and capabilities supporting millions of full consensus nodes.
The project has tremendous potential. After analyzing the business model, it will be possible to draw conclusions about participation in the ICO project.
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