NKN Token

What is it?

NKN, or New Kind of Network, is a unique cryptocurrency token and project that are centered around networking and connectivity. Launched in January 2018, NKN is the token that powers the NKN network.

Token

The NKN token operates as the primary medium of exchange within the NKN ecosystem. It serves as an incentive for participants to share their network bandwidth and computing resources. The token also helps to facilitate various functions within the network, including service payments, rewarding node operators, and incentivizing behaviors that enhance the network's overall health.

Platform

The NKN platform aims to redefine the Internet's network connectivity segment. It introduces the concept of decentralizing network resources, similar to how blockchain technology has decentralized computational power and storage. The NKN platform is built on the principle of a shared economy, encouraging individuals to share unused or underutilized network resources in return for NKN tokens.

What is it used for?

NKN tokens are used primarily to incentivize and reward participants within the NKN ecosystem. Node operators can earn NKN tokens by sharing their bandwidth and network resources, while users spend NKN tokens to access various services within the ecosystem.

Aside from this, NKN tokens are also used to fuel the platform's unique consensus algorithm, MOCA (Majority vOte Cellular Automata). This algorithm uses NKN tokens to facilitate the decision-making process within the network, making the tokens an integral part of the platform's operation.

Who created it?

The NKN project and its token were developed by a team of experienced technologists with strong backgrounds in network architecture and blockchain. The co-founders include Yanbo Li, former co-founder of Onchain and NEO, Bruce Li, a networking expert who previously worked with Nokia and Google, and Yilun Zhang, a physicist and coding theorist.