A highly reliable, secure and diverse Internet is essential to everyone.
What Is NKN?
New Kind of Network (NKN) is a blockchain that provides an infrastructure for decentralized internet without an intermediary involved. They use monetary incentives to motivate internet users into sharing network connections and utilize unused bandwidth.
NKN states that the internet has lost its touch, where bandwidth and spectrum are underutilized, lack of privacy protection and information is frayed. Plus, because the internet is centralized they are not appropriate for the next-generation blockchain systems, which is why they decided it was time for a reform.
How Does NKN Work?
The solution on the table is for NKN to offer a decentralized and peer-to-peer network so there would be no need for new centralized servers. The network wouldn’t even require any direct use of an IP address.
This would keep data stored on a local device, allowing the highest level of security and privacy. The whole operation would reduce costs and eliminate the constant attacks or hacking, which is a win for all parties involved. Also, you will find that NKN supports all types of applications and makes the whole experience user friendly.
The NKN blockchain is always adding new features to improve the infrastructure. Here are some of those features:
Global ID: The protocol incorporates a unique NKN address to make it simple to find users and applications when you need them most.
nConnect: This protocol allows secure remote access to user private data and personal files. The system leverages encryption and an immutable ledger to protect user data.
nMobile: Available on iOS and Android, its decentralized chat and wallet integration are designed to enable secure communication and non-custodial token storage.
dataRide: The dataRide feature provides resources and technical documentation to streamline the creation of decentralized applications (dApps). It also includes template modules and a framework for creating custom modules and dApps.
The History Of NKN
The Network Kernel was developed by cofounders Yanbo Li, Yilun Zhang, and Zheng ‘Bruce’ Li in 2018. But the NKN mainnet was only launched in July 2019.
Is NKN A Good Investment?
As we enter the metaverse era, more changes are needed to continue paving the way. NKN intends to revolutionize the entire network technology and business. They want to be the Uber or Airbnb of the trillion-dollar communication service business, but without a central entity. NKN aspires to free the bits, and build the Internet that will pave the way.
As you can see on the graph below, the highest that NKN has ever reached was $1.02 back in April 2021, and now it’s holding below $0.10. NKN is still at its infancy but it is definitely a project you want to keep an eye on, as it could reach another all-time high in the future.
To stay up to date with the current NKN price data, click here.
Should You Buy NKN?
A fully decentralized and anonymous peer-to-peer system offers huge potential in terms of improved efficiency, sustainability and safety for industry and society.
If you have done research on the team, vision, whitepaper and you are satisfied with what NKN has accomplished so far, then potentially it could be a great investment for the long term. Perhaps invest small, and wait for market direction before buying more.
Cryptocurrencies can be risky, so invest wisely and be careful with your hard earned money. As a rule of thumb, never invest money you can’t afford to lose.
The NKN Whitepaper
NKN released a whitepaper which outlines its solution to the problems that they are trying to solve and also some dates of when it will likely be actioned.
If you want to read the NKN whitepaper click on the button below.
How Many NKN Coins Are There in Circulation?
NKN has a total supply of 1 billion coins.
How Can You Buy NKN Coins?
It’s actually quite easy to buy NKN. All you need to do is follow these four basic steps:
- Create an account on a cryptocurrency exchange that lists NKN. Below we share some of these exchanges.
- Complete the identity verification process. Some exchanges require a scan of an identity document such as a passport or driver’s license.
- Transfer money from your bank account to the crypto exchange. The exchange may accept other payment methods, but bank account transfers typically have the lowest fees.
- Once the money is available in your account with the exchange, select the “buy” option to purchase NKN.
Where Can You Buy NKN Coins?
If you would like to purchase some NKN coins, below are a handful of cryptocurrency exchanges which list them.