NKN (NKN), or New Kind of Network, is a network that focuses on creating a decentralized and open-source network protocol for public blockchain-based peer-to-peer (P2P) networks to share network bandwidth and internet connectivity. Its main objective is to address the challenges faced by today's internet, such as centralization, scalability issues and security concerns.
## Who Are the Founders of NKN?
NKN was founded by Yanbo Li, Bruce Li, and Yilun Zhang. They have a background in networking software and blockchain technology. The project lists Stephen Wolfram, creator of Mathematica and Wolfram|Alpha, and Whitfield Diffie, inventor of public-key cryptography as advisors.
## What Makes NKN Unique?
NKN Mainnet was launched in July 2019 and has up to 25,000 full consensus nodes. According to NKN's whitepaper, the project has three main goals: decentralizing internet infrastructure, improving scalability, and promoting network security. Overall, the aim of NKN is to create a cost-effective platform for decentralized applications by harnessing the collective power of the community.
Notable use cases for NKN include: Content Delivery system (contract with Chinese video giant iQIYI); Edge computing (contract with China Mobile); D-chat (secure messaging app); nShell (secure remote terminal access).
NKN’s consensus algorithm is based on Cellular Automata, where a simple local majority rule can lead to system-level convergence in a small number of iterations. The design goal is to scale to arbitrary numbers of equal consensus nodes.
NKN uses a global addressing scheme based on public keys, in order to enable direct peer to peer communication without centralized servers. The routing of packets is based on the Chord Distributed Hash Table (DHT), which maps each NKN address to a random and verifiable position on the Chord DHT ring.
How to Buy NKN on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing NKN. Some reputable platforms include LBNK, Okx, Kraken, and others.
Step 2: Register an Account
Here, we'll register an account on the OKX (registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing NKN.
Step 5: Purchase NKN
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of NKN you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy NKN.
Step 6: Store Your NKN
After purchasing, you can choose to store your NKN in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and NKN assets, be sure to use a strong password and enable two-factor authentication.
NKN Price:The price fluctuates daily, and as of March 30, 2024, the highest price for NKN was $1.48.
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