NKN Feed: Events, News & Roadmap
NKN Events on the Chart
What is NKN?
NKN (New Kind of Network) is an open-source protocol for peer-to-peer networks, based on public blockchains, that enables participants to collectively utilize network resources and access the Internet. This project provides users with the opportunity to contribute their idle network resources to create an innovative network that facilitates data transmission and network connectivity.
The project leverages blockchain technology and tokenization to incentivize participants who provide their network resources. In this sense, it resembles other decentralized network projects such as Filecoin and Storj.
NKN utilizes a unique consensus algorithm called Proof of Relay, which allows participants to earn NKN tokens for relaying data through their network. This creates incentives for participants to enhance the network’s throughput and reliability.
Additionally, NKN is developing several applications that utilize their decentralized network to provide services such as decentralized content delivery networks (dCDNs), private VPN networks, and messengers.
The NKN token is an ERC-20 utility token that serves as an incentive and payment system for services on the network.