What Is New-Kind-of-Network (NKN) and How to Buy NKN?

The issue with today's global internet is that to move or access data, we must rely on centralized client-server models, which are prone to single points of failure and third-party permission, leaving users open to outages, DDOS attacks, and spoofing.

One project which aims to decentralize the internet is the "New Kind of Network."

Let’s learn more about New-Kind-of-Network, and its native currency NKN Token.

What Is New-Kind-of-Network?

New-Kind-of-Network is a decentralized blockchain network. NKN aims to develop a safe, open, and decentralized communication network capable of delivering data transmission and application services at high speeds and affordable costs.

The NKN uses a peer-to-peer (P2P) network to reach higher levels of efficiency and security than more typical network configurations based on centralized servers. This allows the NKN to achieve higher levels of both efficiency and safety.

Because the NKN network is built on a novel consensus mechanism known as "Proof of Relay," nodes on the NKN network can provide relay services and be rewarded with NKN tokens for doing so. 

The Proof of Relay consensus mechanism was developed to incentivize node operators to offer relay services, which would ultimately increase the overall performance of the network and its level of security.

The NKN also uses a unique data transmission protocol called "Named Data Networking" (NDN). This protocol offers a more effective and secure method for transmitting data across the network. Data can be communicated based on content rather than location, thanks to the NDN protocol, which substitutes standard IP addresses with content-based ones. This allows data to be transmitted more efficiently. Data conveyance is made more effective, and the likelihood of data breaches or attacks is diminished.

What Is the NKN Token?

The native NKN token is what makes this ecosystem work. It also incentivizes the nodes running NKN's proof-of-relay (PoR) consensus process.

Although it may be challenging to understand, the NKN network operates reasonably straightforwardly, and the solutions it offers can help anyone, from small businesses to individuals. 

Current trading price: $0.1155

Current market capitalization: 115.25 million dollars

Total supply: 1.00 billion

History of New-Kind-of-Network

Yanbo Li, Yilun Zhang, and Zheng Li are the three Silicon Valley-based programmers who established the New-Kind-of-Network. The group came together in 2018 to develop this decentralized system for storing digital content. They wanted it to operate analogously to MegaUpload but without a centralized server.

They eventually centered it around the blockchain and developed the NKN token. 2018 the group carried out an Initial Coin Offering (ICO).

In 2019, one year after the initial coin offering (ICO), the mainnet and tools were made available. After some time, the venture received funding from some of the most prominent venture capital investors in the cryptocurrency industry, such as Arrington XRP Capital, Okex, Fenbushi, and BlockVC.

Features of New-Kind-of-Network

nMobile

nMobile is a system that combines decentralized chat, wallet integration, and solution utilization into a single product. Doing away with centralized servers removes all risks to users' data, including those related to privacy and security.

The NKN blockchain network is the foundation upon which nMobile was created. It does not use standard internet protocols to interact.

Every customer connects using a unique ID linked to the NKN network. This ID serves in place of telephone numbers or nicknames. You only need to know another participant's ID to send data to them if you want to send it to them.

Because it is open source, nMobile is available to anybody and everyone. 

DataRide

DataRide is a decentralized Platform as a Service (PaaS). It provides a messaging, streaming, and file transfer service. The network is fast, dependable, and secure at an affordable price. 

With the assistance of dataRide, the team behind NKN provides customers with customized solutions (like nCDN or nConnect). It presents tools that developers can use to design apps on their platforms.

nConnect

nConnect enables users to have a unique solution for remote access. With nConnect, users are safe to access their data with complete anonymity. The unique feature enables users to access their private data and personal files with a single click, at any time and from any location they want.

What Makes New-Kind-of-Network Unique?

New-Kind-of-Network's capacity to host various decentralized apps (dApps) and services make this network unique. New-Kind-of-Network gives developers a platform that is flexible and scalable. Having such capacity enables them to build and run decentralized apps like chat apps, file-sharing services, etc. It is also a good choice for developers who want to develop decentralized apps.

New-Kind-of-Network focuses a lot more on community-driven development and governance. The NKN group works together to build and improve the network, focusing on open-source software and making decisions. This approach, led by the community, has helped the New-Kind-of-Network spur growth and innovation.

How to Buy NKN Coins?  

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including NKN tokens, users can now trade easily and seamlessly. 

To start trading/buying/selling on CoinEx, you must visit CoinEx first. Next, create a CoinEx account.

Once you create your CoinEx account, this is how to purchase and sell NKN tokens:

1. Access your CoinEx account by visiting the website or launching the app. Enter your email and password and log in.
2. Put funds in your account to make NKN purchases. To add the funds/amount to your CoinEx account, you can use a bank transfer, credit card, or debit card. P2P financing is another available option.
3. Once you have funds in your account, you may buy NKN by going to the NKN trading page and choosing the trading pair you wish to use.
4. Tokens (USDT, BTC, ETH, and CET, etc.) can be exchanged for NKN. Put in your order and the quantity you want to buy.