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NKN Price Prediction 2022-2030: What Drives NKN Prices?

NKN Price Prediction 2022-2030: What Drives NKN Prices? 1


NKN – an acronym for New Kind of Network – can be compared to Substratum and Ontology, two projects are building a decentralized internet solution. But a better perspective would be a triumvirate where NKN provides decentralized networking, Ethereum takes care of the decentralized computing, and Filecoin/IPFS does the hosting via decentralized storage.

One of the first applications built on NKN is a Smart home IoT, a Proof-of-Concept for what the team calls the “Airbnb of the Future,” a decentralized sharing economy. The NKN hype started two years ago when an impressed observer exclaimed:

This project has the highest potential to achieve mass adoption out of all the competitors in this space!

Ikenna Odinaka

At the time of writing, NKN is already the most extensive blockchain network globally, with over 101,000 nodes, with Bitcoin and Ethereum having roughly 10,000 nodes each. We’re getting ahead of this puzzle, so let’s start from the beginning.

Today’s NKN price is $0.087394 with a 24-hour trading volume of $3,646,817. NKN is down 7.89% in the last 24 hours. The current CoinMarketCap ranking is #365, with a live market cap of $61,175,557 USD. It has a circulating supply of 700,000,000 NKN coins and a max. supply of 1,000,000,000 NKN coins.

What is NKN?

Network Infrastructure for a Decentralized Internet, known as NKN, is the working of unique peer-to-peer networks based on blockchain technology. The NKN Ecosystem is powered by a novel public blockchain that uses monetary incentives to push Internet users for network connection sharing. This way, they will be able to utilize the bandwidth that is still unused and available to them.

Thus, NKN offers the “new Internet,” i.e., the public internet network and more network resources. This project was launched in the year 2018. The founder of the NKN network is Bruce Li, who was also the ex-Chief Operating Officer for the cryptocurrency project. The founder stated that the network operates from offices based in Beijing and another in Silicon Valley in an interview.

Using the NKN blockchain, you can share your Internet connection with different users from across the Internet in a P2P manner.

The NKN network uses Proof of Relay’s consensus mechanism or the POR consensus. The benefit of this consensus is that it is highly secure and evades attacks directed to the network. Hence, data transmission can be verified, and the verification cannot be tampered with.

Currently, there are more than 25K nodes to validate financial transactions and all the imaginable data on the NKN blockchain. This makes NKN an already impressive network, wherein the participants receive rewards.

Therefore, when it comes to the NKN price predictions, it is essential to learn about the use cases of the NKN token.

NKN Overview

NKN Overview

Coin Symbol Price Marketcap Change Last 24h Supply Volume (24h)
nkn
NKN $ 0.086376 $ 56.14 M 8.47% 650.00 M $ 3.11 M