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NKN
About NKN
NKN, or New Kind of Network, is a cryptocurrency token and project focused on networking and connectivity. The NKN token is the primary medium of exchange within the NKN ecosystem, incentivizing participants to share their network bandwidth and computing resources. The NKN platform aims to redefine the Internet’s network connectivity segment by decentralizing network resources. NKN tokens are used to incentivize and reward participants, fuel the platform’s unique consensus algorithm, MOCA, and facilitate decision-making within the network. The NKN project was developed by a team of experienced technologists, including co-founders Yanbo Li, Bruce Li, and Yilun Zhang, with a mission to build a decentralized, shared, and secure Internet of the future.
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.
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.