Claus Hetting, Wi-Fi NOW CEO & Chairman published an article about how NKN rebuild the Internet with blockchain technology (https://wifinowevents.com/news-and-blog/nkn-rebuilding-the-internet-with-blockchain-more/). This is one of NKN’s attempts to combine its blockchain technology with the traditional telecommunications industry.
The way in which the NKN incentivize replying/routing traffic is to use the native NKN token. There are two ways in which the node receives token rewards: one is by providing connectivity and forwarding traffic to other nodes; the other is by mining, e.g. helping record transactions on the block. The amount of tokens a node can earn is proportional to the amount and frequency of its contribution, with probabilistic algorithms. NKN team is developing an economic model that will encourage more nodes to join and contribute to the network (transforming “free-riders” into network maintainer), share additional network capacity, increase transmission throughput, reduce latency, and expand the network. And because of the incentive model, the more nodes join the network, NKN will be more stable and attack-resistant.
NKN stands out from other projects that focus exclusively on mobile phones and use Wi-Fi, Bluetooth and Wi-Fi Direct. NKN intends to change the entire Internet, including fixed and mobile phones, phones, laptops, edge and core networks. NKN is a protocol overlay that is transparent regardless of the underlying physical communication media and applications.
In addition, most network projects are based on Ethereum, ERC-20 tokens, and smart contracts. We’re not sure if Ethereum will scale to millions or billions of nodes and petabytes of traffic. NKN will have its own unique blockchain technology, which will have fundamentally new Proof-of-Relay (PoR) and novel consensus algorithms based on the Cellular Automata methodology, which is being redeveloped specifically for tokenizing network transfer capabilities.
Therefore, NKN has a much broader scope. We want to turn networks like what IPFS has done with storage. The goal of NKN is the $ 1 trillion communications business and how we can leverage the incentive to share unused network resources, expand and upgrade the dispatch network, and create better connectivity for all.
Further attempts to cooperate with telecommunications partners with a new business model are being investigated. Engagement with WiFi NOW EXPO is just one of them to renew traditional WiFi business with NKN Blockchain technology. With this upcoming event
1.) NKN is sponsoring WiFi NOW expo 2018 in SF Bay Area — https://wifinowevents.com/usa
2.) NKN Co-Founder Zheng Li will be speaking on a panel “The future of Wi-Fi — and can it be transformed by AI & blockchain?” — https://wifinowevents.com/usa/session/future-wi-fi-can-transformed-ai/
3.) Come visit us at the upcoming WiFi NOW expo in SF Bay Area — use the code NKNWFNUS20 to get 20% off — (use the image on the top)
Welcome to join NKN’s community and join us for a better future
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