NKN (NKN) stands for New Kind of Network and is a token developed on NEO blockchain. NKN claims to be the third pillar of the blockchain system with Computation (proof of Work) and Storage as the other two pillars. NKN is a decentralized connectivity protocol and ecosystem powered by blockchain for creating a shared internet space. NKN solves 5 major problems with the centralized internet network prevailing in the world. These problems are Net neutrality, inefficient network utilization, slowShow more [+] SDNs, network fragmentation, and privacy. NKn enables the network operators to dynamically route traffic according to the load and network performance. NKN achieves high network performance by implementing four core elements i.e. Decentralized data transmission network, Proof of Relay (consensus protocol), blockchain consensus and incentive distribution mechanism. At the core of the decentralized network of NKN is Cellular Automata which makes NKN dynamic, self-organized, self-evolving, homogeneous and parallel. NKN maintains dynamic topology and routing using Chord Distributed Hash Table for billions of clients and nodes.
NKN is a node based system and provides rewards for the participants who help relay traffic on the network. Mining rewards are also given which is proportional to the amount of data relayed by participants. Clients spend NKN to transmit the data and the relay nodes get NKN for relaying the data over the network. The total supply of NKN token is one billion of which 70% will be generated during the start and rest of 30% will be generated by the transmission network. NKN is also developing its own blockchain, once complete the NKN tokens will be transferred from NEO blockchain to the NKN blockchain.
NKN is governed by NKN foundation. NKN was founded by Yanbo Li, co-founded by Zheng Bruce Li and yilun Zhang. Yanbo is the core developer with extensive experience in Linux Kernel network. NKN has one advisor i.e. Mr. Whitfield Diffie, the inventor of public key cryptography.
- 170,000,000 for foundation, locked for first 12 month, then release 1/3 every year
- 180,000,000 for developer/team, locked for first 12 month, then release 1/3 every year
- 250,000,000 sold to private investors, vesting over 6 months
- 100,000,000 sold to public, immediately available