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About NKN Summary
Key Points
- NKN (New Kind of Network) is a decentralized and open-source network protocol for public blockchain-based peer-to-peer (P2P) networks.
- Founded by Yanbo Li, Bruce Li, and Yilun Zhang, with advisors Stephen Wolfram and Whitfield Diffie.
- Mainnet launched in July 2019 with 25,000 full consensus nodes.
- Goals: decentralize internet infrastructure, improve scalability, and promote network security.
- Use cases: Content Delivery, Edge computing, D-chat, and nShell.
- Consensus algorithm based on Cellular Automata.
- Global addressing scheme based on public keys.</
About NKN
NKN is a decentralized data transmission network that leverages blockchain technology to create a global sharing economy for network bandwidth and data storage.
Introducing NKN (NKN): The Pioneering Decentralized Data Network
NKN (New Kind of Network) is a decentralized, open-source network protocol designed to facilitate peer-to-peer (P2P) sharing of network bandwidth and internet connectivity on public blockchains. Its primary objective is to tackle the pressing issues plaguing today’s internet, including centralization, scalability limitations, and security vulnerabilities.
The Visionaries Behind NKN: Meet the Founders
NKN was co-founded by Yanbo Li, Bruce Li, and Yilun Zhang, a trio of visionaries with a rich background in networking software and blockchain technology. The project boasts an impressive advisory board, featuring esteemed luminaries such as Stephen Wolfram, the renowned creator of Mathematica and Wolfram|Alpha, and Whitfield Diffie, the inventor of public-key cryptography.
Unveiling the Unparalleled Advantages of NKN
NKN Mainnet was inaugurated in July 2019, boasting an impressive 25,000 full consensus nodes. As outlined in NKN’s whitepaper, the project is driven by three primary objectives: decentralizing internet infrastructure, enhancing scalability, and bolstering network security. Ultimately, NKN strives to establish a cost-effective platform for decentralized applications, leveraging the collective strength of the community.
Notable applications of NKN encompass a diverse range of use cases, including: a Content Delivery system, as exemplified by its partnership with Chinese video giant iQIYI; Edge computing, as demonstrated by its collaboration with China Mobile; D-chat, a secure messaging app; and nShell, a secure remote terminal access solution.
NKN’s consensus algorithm is rooted in Cellular Automata, where a straightforward local majority rule precipitates system-wide convergence in a remarkably brief span of iterations. The overarching design objective is to seamlessly scale to accommodate an arbitrary number of equal consensus nodes.
NKN employs a global addressing scheme rooted in public keys, thereby facilitating direct peer-to-peer communication sans centralized servers. Packet routing is predicated on the Chord Distributed Hash Table (DHT), which maps each NKN address to a random, verifiable position on the Chord DHT ring, ensuring efficient and secure data transmission.
What Is the Circulating Supply of NKN (NKN) Coins?
The native token of the NKN network is NKN, boasting a capped supply of 1,000,000,000 tokens, with a circulating amount of 754,831,362 NKN.
The NKN Network’s Robust Security Mechanisms
NKN employs a novel mechanism known as Proof-of-Relay (PoR), also dubbed “useful Proof-of-Work”. In contrast to traditional proof-of-work (PoW) consensus algorithms, such as the one utilized by Bitcoin, which rewards miners based on their ability to solve complex hash functions, PoR incentivizes miners to relay meaningful, real-world data across the network.
Acquiring NKN (NKN): A Comprehensive Guide to Exchanges and Marketplaces
NKN can be acquired on a diverse range of prominent centralized exchanges, including Binance, Coinbase, KuCoin, Bittrex, Huobi, Gate.io, Bitget, Crypto.com, and many others.
Stay up-to-date with real-time NKN price fluctuations at your fingertips with the CMC mobile app.
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