Cryptocurrency technology may have the potential to change the world, but at the moment there are only a few centralized institutions and individuals that can control the wealth, knowledge and lives of billions. NKN envisions a future where people will take decentralization for granted, where nobody will even notice that blockchain is powering their everyday activities, and society and humanity will benefit greatly from this transformative system.
NKN has now taken considerable steps to make their vision a reality with a new kind of massively distributed, peer-to-peer network connectivity protocol and ecosystem powered by a novel public blockchain. Developed by NKN, and inspired by Dr. Stephen Wolfram’s seminal work in A New Kind of Science, this breakthrough technology is the first to utilize a unique consensus mechanism called MOCA (Majority vOte Cellular Automata) for million-node scale, as well as a mining algorithm called proof-of-relay that offers rewards for relaying network data.
The team at NKN have created a reliable network with several notable features that will bring more value to the holders, miners, and users of NKN.
“We intend to build the world’s largest blockchain network, where millions if not billions of people can participate in consensus without any permission required. We already have over 20,000 full consensus nodes, surpassing both Bitcoin and Ethereum, which stand at about 10,000 nodes each. NKN is also lightweight, giving us the ability to run our full nodes on the smallest hardware requirements including a raspberry pi or a home Wi-Fi router, saving both cost and energy,” NKN CEO and Co-Founder, Yanbo Li, said.
Additional advantages of NKN include:
- Aggregated High Speed: Nodes and clients can utilize the aggregated speed of several routes.
- Zero Server: Fully peer to peer and decentralized, which significantly reduces complexity and costs, as well as removes a single point of failure and eliminates the central honeypot for hacking.
- Unique and Global identity: Unique NKN address enables service from anywhere in the world, at any time, helping people discover and search for applications and services.
- Extra Security and Privacy: End-to-end and hop-by-hop encryption without public key infrastructure or third-party certificates.
- Elastic Capacity: NKN servers are multi-functional and leverage unused capacity, providing the capability to scale up and down depending on demand.