New Kind of Network
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| private | |
| ISIN | 🆔 |
| Industry | Web3 blockchain technology Computer Software Development and Applications |
| Founded 📆 | 2018 |
| Founders 👔 | Yanbo Li, Bruce Li, Yilun Zhang |
| Headquarters 🏙️ | San Mateo, CA[1][2] |
Areas served 🗺️ | Worldwide |
Key people | Yanbo Li (CEO), Bruce Li (Co-CEO), Yilun Zhang (CTO)[3][4] |
| Services |
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| Members | |
Number of employees | |
| 🌐 Website | nkn |
| 📇 Address | |
| 📞 telephone | |
New Kind of Network (also known as NKN) is a technology company developing Web3-related infrastructure[5] for services based on blockchain technology with the main concepts such as decentralization and peer-to-peer communication.[6] In particular, the company facilitates internet connectivity sharing and network bandwidth. Among the company's main applications are dataRide, nMobile and nConnect.[7] NKN was founded in 2018 by Yanbo Li, Bruce Li and Yilun Zhang, and, is based out of San Mateo, California.[7]
Overview[edit]
NKN was established in January 2018[6] in San Mateo, California by two software engineers Yanbo Li (CEO) and Bruce Li (Co-CEO), and Yilun Zhang (CTO), a scientist with a Ph.D. in Physics with specialization in Computational Neuroscience.[7][3] They were later joined by Whitfield Diffie (advisor), an inventor of public-key cryptography,[8] and Stephen Wolfram (advisor), founder of Wolfram Research[9] and author of A New Kind of Science publication.[3][7] From the beginning, the company's main focus has been on facilitating the internet connectivity's sharing and network bandwidth through the integration of a variety of proprietary protocols including a decentralized peer-to-peer data routing protocol, MOCA consensus algorithm powered blockchain, and secure data access systems.[10][11][12]
By May 2019, the network included 6000 nodes but the mainnet of NKN was introduced in July 2019.[4][13] As of April 2022, NKN had 73,000 active nodes located across 71 countries.
Technology[edit]
The core technology combines P2P architecture, intelligent routing, and blockchain distributed ledger to create a software overlay network designed for scale.[14] This functionality is allowed by using Majority Vote Cellular Automata (MOCA), a consensus process and a Proof of Relay method in which a node’s anticipated payouts are determined by its network connectivity and data transmission power.[15] The company's technology also resolves various technical issues such as Non-Responsiveness (through the introduction of proximity routing) and Security Breaches (by incorporating end-to-end and hop-by-hop encryption without Public Key Infrastructure or 3rd party certificates, thus preventing hackers from accessing sensitive data. NKN’s network uses the existing internet by creating a new network layer between users that overlays on top of the existing infrastructure and thus brings data protection and anti-censorship functions out of decentralization. Devices connected by the NKN's network are divided into two categories: nodes and clients. Nodes share their unused bandwidth and send, receive and transmit data to other neighboring nodes.[16] The active nodes or miners amplify the network and receive NKN tokens for providing networking services. Nodes also help the network reach consensus through the Majority Voting Cellular Automata (MOCA) algorithm. In short, MOCA requires that a node only communicate or transmit data with a few neighboring nodes, rather than with the entire network. This process is powered by a PoW algorithm called Proof of Relay (PoR). Since PoR is verifiable and not falsifiable, PoR is important to NKN’s network as this consensus algorithm calculates each node’s mining reward. Nodes that are continuously running on the network and transferring more data receive higher rewards. With MOCA and PoR, the network reaches a global consensus more quickly due to the lower communication effort. This enables network expansion.[7]
In contrast, client devices are end-users that can send data to others via the relaying nodes. After a client or node accesses the NKN network, NKN network-specific anonymous addresses are randomly assigned. These addresses replace IP addresses in traditional TCP / IP architecture and ensure that no Internet IP addresses need to be exposed when clients communicate with each other.[7]
NKN token[edit]
The NKN token is an ERC-20 utility token that serves as an incentive and payment system for services on the network. The token was released in an initial coin offering in April 2018, with an initial supply of 1 billion NKN. Thirty-five percent of NKN tokens were made available during the launch, with ICO participants able to purchase 4,150 NKN for 1 ETH. Additionally, 17% of the token supply was reserved for the NKN Foundation in order to make strategic investments in building the NKN ecosystem. Eighteen percent of the token supply was distributed to the founding team and community developers.[17][18] The remaining 30% of the tokens were reserved for mining rewards. NKN token miners are rewarded for duties called “traffic relay” and “block maintenance.” In the first year after NKN was released, NKN produced 18 million NKN tokens in mining rewards. The mining rewards system follows a deflationary pattern, decreasing rewards by 500,000 annually for 25 years.[18]
Applications[edit]
- dataRide - a decentralized PaaS (Platform as a Service) application for messaging, streaming and file transfer service for person to person, machine to human as well as machine to machine communication. This application also includes Chat & IM, IoT Communication, Direct File Transfer, Live Chat Support, Remote Control and Security Camera Surveillance
- nMobile - a messenger for secure communication with decentralized approach built on the NKN blockchain network. Among its main functions are Decentralized Chat and Crypto Wallet.[19]
- nConnect - a mobile app for remote access to home and office devices, for example, a Network Attached Storage (NAS)
Extra links[edit]
References[edit]
- ↑ "Nkn Labs, Inc". BuzzFile.
- ↑ "Nkn Labs, Inc". Dun & Bradstreet.
- ↑ 3.0 3.1 3.2 "Team New Kind of Network". Official Website.
- ↑ 4.0 4.1 Ancheta, Andrew (2019-05-20). "NKN Prepares For A New Kind Of Mainnet". Crypto Briefing.
- ↑ "NKN – The third pillar of Web 3.0". Stocks Telegraph.
- ↑ 6.0 6.1 Finneseth, Jordan (2021-04-07). "New Kind of Network (NKN) gains 340% to become 'the biggest blockchain in the world'". Coin Telegraph.
- ↑ 7.0 7.1 7.2 7.3 7.4 7.5 "NKN: Paving the way for a new Web 3.0 network". Coincu. 2021-11-19.
- ↑ "Cryptic Labs and Dr. Whitfield Diffie Sign Research Agreement With NKN Project". Business Wire.
- ↑ "Stephen Wolfram (Creator of NKS) Tries to Understand NKN". Medium.
- ↑ Hetting, Claus (2018-05-01). "NKN: Rebuilding the Internet – with blockchain & more". WiFi Now.
- ↑ "Baidu-Owned Video Streaming Giant iQiyi Taps Public Blockchain for Performance Boost". Yahoo Finance.
- ↑ Team, Analyst (2018-03-15). "NKN ICO Review and NNC Token Analysis". Crypto Briefing.
- ↑ Menardeep, Singh (2021-10-13). "NKN: Everything you need to know". Tech Story.
- ↑ "Case Study: NKN". GSMA. 2020-03-23.
- ↑ "NKN (New Kind of Network)". Medium.
- ↑ Cite error: Invalid
<ref>tag; no text was provided for refs namedcurrency - ↑ "NKN Token Sale Sells Out In Less Than One Hour". ICO Examiner.
- ↑ 18.0 18.1 "NKN". Coindesk.
- ↑ "nMobile Pro". Google Play.
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