NKN | $NKN | Free The Bits, Rebuild The Internet!

by birtanpublished on September 23, 2020

hey guys welcome back to my channel first off I want to thank everyone for liking subscribing and sharing my content you guys rule and I appreciate all that constant love and support that I'm always receiving today's video is

Gonna be about nkn I received a few requests from people in my community to cover it so here I am quick disclaimer I'm not a financial advisor all investments have inherent risk and please do your own research and the

Spirit of transparency I do not hold any of this project and I did not participate in the ICO let's get started on the project history so what is nkn it's an open source community driven project and KN stands

For a new kind of network its goal is to be the new generation of a highly scalable self evolving and self incentivized decentralized network the company believes that there are current problems with network neutrality

Censorship and the protection of private information that they would like to solve they define the significance of their concept as an uber or an air B&B for the whole telecommunication industry but in a decentralized version under the

Team yamballi is the founder and core developer of nkn he's also the former co founder of on chain other listed members of the team include Bruce Lee he's the co-founder and the leader of strategy and innovation he founded multiple

Million dollar startup projects at Nokia and Google he led R&D teams across the u.s. Europe and China Justin Wang he's the co-founder and the core researcher and Yong Zhang who's the co-founder core researcher and developer

Another ICO and kan used leaked ICO which is an Australian funding platform to run their ICO which required participants to do their kyc through that platform and Kane's early bird sale which is only open to participants who

Were previously white listed for the project started on April 2nd and was completed on April 8th the main ICO took place on April 19th and collected 70% of the hard cap in the first three minutes in total they raised something like 6.4

Million for the project the ICO price was 1 + KN – 12 USD and participants were able to contribute with e the network will be powered by the new network coiner and NC which users will use to pay for connectivity n NC is a

Net 5 token meaning it operates in the neo blockchain the token onyx are as follows 70% to the nkn foundation this covers their strategic investments in the building of the ecosystem 18% of developers these are the founding team

And the community developers 35% allotted to the ico and 35% over the next 25 years will be the rewards for the miners for traffic relay and for block maintenance under the technology MK is intent upon improving the

Blockchain to reach an effective and fair consensus without sacrificing the Equality of nodes or decentralization the decentralized data transmission network or DD TN n KN maintains dynamic topology and routing unique and can

Addresses are used to identify nodes providing an overlay on top of TCP IP addresses proof of relay and KN offers the proof of relay consensus algorithm which is similar to proof of work the main difference is that proof of relay

Does not waste resources because the participants receive rewards by providing more Network resources than they are consuming the network node black rewards depend on network connectivity and data transmission power

The node will prove its real a workload by adding a digital signature which is then accepted by the system through consensus algorithm and cannon will increase the efficiency of data transmission thanks to encouraging

Participants to connect and provide their bandwidth by tokenizing the network connection scalable consensus and kin has designed a highly scalable consensus algorithm based on the cellular automate a concept this is one

Of those concepts that was extremely difficult for me to understand so I'm going to try to simplify it as much as possible without patching it ca is naturally a large distributed system with only local connections or local

Nodes the local behavior of the system is controlled by updating rules they stated as possible to achieve guaranteed global consensus in CA using messages that pass the algorithm from node to node to local neighbors for a set of

Updating rules incentive distribution mechanism and cans economic model will provide token rewards for participants who help relay traffic for other users in addition mining rewards will also be proportional to the amount of data that

Participants help to relay a pretty normal use case for a token on a network the no rewards depend on various useful actions time spent on line the number of high p2p connections with short relay time basically the idea that the node is

Rewarded if it provides more Network resources than it consumes the team defines this consensus as a valuable proof of work that brings us to present-day MK and currently sits at number 305 on coin market cap their

Total supply of tokens is currently 700 million and the current circulating supply is 148 million their total eventual supply will be 1 billion once they're all mined they do have a

Road map available on their website and upcoming to look forward to from q2 to q4 of 2018 they will be developing the nkn blockchain they expect to release their test net and the release of the NK an ecosystem applications in q1 of 2019

Curly and can does not have its own wallet but it is an m5 token which means it can be stored on the neon wallet if you're looking to purchase on can it's currently only available on the gate i/o exchange their investors are blocked BC

This is a leading blockchain investment advisory firm and their vision is to bring the blockchain into the mainstream they mentioned that they had early support from da Huang Fay who is the founder of neo and they stated that new

Global capital was another one of their key strategic investors they also have Whitefield biffle as an adviser to the project I didn't know who he was prior to this but apparently he's a pretty big deal he's an American cryptographer and

He's one of the pioneers of public key cryptography out of the pros the team is strong well-educated and has experience in the space which is very important also the fact that they have the backing of da Huang FA and new global capital as

An investor is pretty huge out of the cons the road map that's a big one for me they're chess that isn't slated to be released until q1 of 2019 I always say that good tech takes time but considering that there are other

Projects out there right now with functioning products doing something similar like substratum I see that time is going to be the major issue crypto moves really quickly and if you're not making a headlines you're basically

Already old news that being said as far as I know substratum is still gonna say as an ER c20 token they're not gonna go on to their own blockchain which means capability wise are going to be limited

Where n can would be on its own blockchain I found an article online that explained it much better than I could block mesh and write mesh are entirely focused on mobile phones and using Wi-Fi Bluetooth and Wi-Fi direct

And can and tends to change the entire internet including fixed and mobile phones laptops edge and core networks and KN is a protocol overlay that is independent of the underlying physical communication media and transparent to

Applications final thoughts and Ken wants to create a freer more open version of the Internet the goal is to use blockchain technology to organize and incentivize participants to provide connectivity across a distributed

Network nodes are incentivized to keep the network operational through the use of digital tokens my interest in all these neo associated projects is really growing and I'm very excited to see platforms pumping out some new awesome

Projects as ones that are seriously different from other things that we've seen built on ethereum this is definitely one of those projects that I think you need to keep your eye on going forward but I would

Also suggest being weary of the timeline and being aware of what its competitors are doing and kind of where it's falling under that category alright guys that about wraps it up for me today final point to mention if you like my t-shirts

And you'd like to pick one up you can check out the merch on my website or if you'd like to support my channel you can become one of my patrons I'll leave all the links down below as usual thank you guys for watching and I will see you all

Soon

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