Buy NKN (NKN)

NKN, which stands for New Kind of Network, is a blockchain protocol that aims to improve internet connectivity and speed. It does this through a decentralized data relay system. NKN thus solves a number of challenges of the current internet, such as reduced network neutrality, fragmented and censored information, and limited privacy.

NKN aims for a decentralized internet structure where network resources such as bandwidth and connectivity are shared without a central authority. NKN does this by using a Cellular Automata (CA) model, a mathematical system that mimics natural processes through simple interactions. This allows a network of nodes to organize itself dynamically, resulting in an efficient and scalable system.

At the heart of NKN's technology is the Proof-of-Relay (PoR) consensus mechanism. This rewards participants for actually passing data across the network. Unlike traditional Proof-of-Work (PoW), PoR wastes no energy because rewards are tied to the amount and quality of data passed.

Users benefit from a faster, more secure and more privacy-friendly internet thanks to NKN. The project offers a range of applications, from decentralized web services to Content Delivery Networks and Internet of Things solutions. Some of the key NKN products are dataRide, nMobile and nConnect:

• dataRide: A decentralized PaaS platform that enables fast, secure and affordable communication, streaming and file transfers.
• nMobile: An app that offers decentralized, secure and anonymous messaging, plus a secure crypto wallet.
• nConnect: A solution that allows users to securely and remotely access files and services without compromising their privacy.

The NKN token is used to reward participants, pay transaction fees, and execute smart contracts.

Who founded NKN?

NKN was founded by Yanbo Li, Yilun Zhang and Bruce Li. These three founders have extensive experience in software and blockchain, and wanted to create the largest blockchain network for internet connectivity in the world with NKN. Companies such as Uber and Airbnb served as inspiration, but without a central authority. The project is currently managed by the NKN Foundation.

NKN offers a wide range of functions and capabilities:

• Decentralized web services: Developers can use NKN to realize peer-to-peer data transfers to provide web services without central servers.
• Secure and private communication: Users benefit from encrypted messages and data transfers, which ensures maximum privacy and security.
• Content Delivery Networks (CDNs): Developers can build CDNs without relying on traditional data centers. This promotes privacy.
• Internet of Things (IoT): NKN offers a secure and scalable solution to connect IoT devices. Even in areas with poor internet connectivity, they can communicate efficiently.

NKN is designed around several innovative concepts and mechanisms that together ensure a scalable and secure network.

Cellular Automata (CA)

Cellular Automata (CA) is a mathematical model that NKN uses to organize the network in a decentralized way. This model can be seen as a network of nodes, where each node only has information about its direct neighbors. Each node applies simple rules, based on the state of its neighboring nodes. These local interactions allow for fast communication and lead to the formation of a large, organized and scalable whole without central control.

Proof-of-Relay (PoR)

Proof-of-Relay (PoR) is NKN's consensus mechanism that rewards nodes for relaying data. Unlike traditional Proof-of-Work (PoW) systems, PoR rewards nodes based on their contribution to data transmission within the network. Nodes receive rewards for the amount and quality of data they relay, leading to better network performance and less energy waste.

Decentralized Data Transmission Network (DDTN)

NKN introduces the Decentralized Data Transmission Network (DDTN), which uses different types of nodes to transmit data efficiently and securely:

• Relay nodes: These nodes act as relay stations for data, without a central server.
• Full nodes: These nodes are responsible for passing data, validating transactions and storing the blockchain.
• Light nodes: These nodes have limited resources, but can still pass data and contribute to the network.

The DDTN allows data to be sent to any node or user without a central server, increasing privacy and security.

Developer tools

NKN aims to make it easier for developers to build decentralized applications (dApps). The network supports popular languages such as JavaScript, Golang, C++, Java, Python and iOS/Android. In addition, NKN offers a toolkit that allows developers to focus on innovation and user experience, without having to worry about the underlying infrastructure.

Developers can use the NKN ecosystem to host their dApps, store data, and integrate messaging and payment systems. Users can in turn control their own identity and data.

NKN mining is done using the Proof-of-Relay consensus mechanism. This mechanism rewards nodes for their contribution to data transmission. To get started, you need a computer with a stable internet connection and sufficient computing power, plus an NKN wallet to store the earned tokens. Download and install the NKN software from the official website, configure the node with your wallet address and connect it to the NKN network. Once the node is active, it will start transmitting data. The more data the node transmits, the higher the reward, therefore, make sure that the computer is always connected and can provide the best performance at all times.

The PoR mechanism ensures that nodes are rewarded for actually passing on data. Nodes add their digital signature to the forwarded data, which is then validated by other nodes.

NKN has a number of notable features and innovations that set it apart. The key features that make NKN so special are:

• Cellular Automata (CA): This mathematical model creates a decentralized, self-organizing network. Each node responds to the state of its immediate neighbors, resulting in a dynamic and scalable system without central control.
• Proof-of-Relay (PoR): This consensus mechanism rewards nodes for passing data, instead of solving complex mathematical problems. This makes the network more energy-efficient and effective.
• Decentralized Data Transmission Network (DDTN): NKN has a decentralized network of relay nodes, full nodes, and light nodes that work together to transmit data securely and efficiently, without central servers.
• Developer-friendly environment: NKN supports popular languages such as JavaScript, Golang, C++, Java, and Python. It provides a complete toolkit for building dApps, allowing developers to focus on innovation and user experience.* Broad application capabilities: NKN offers solutions for a wide range of applications, including decentralized web services, content delivery networks (CDNs), Internet of Things (IoT), and secure communications.

At Bitvavo, you can buy NKN (NKN). Our platform is suitable for both novice and experienced traders. Follow these steps to buy NKN tokens via our website and app:

1. Log in to your Bitvavo account or register a new account.
2. Add funds to your account by clicking "Deposit".
3. Go to the NKN (NKN) purchase page.
4. Enter the amount in euros you want to spend or the number of NKN tokens you wish to purchase, and click "Buy".

After purchase, your NKN tokens will be automatically deposited into your Bitvavo account, where you can easily manage and trade them. Selling NKN tokens is just as easy, allowing you to quickly respond to price and market changes.

You can safely store your NKN tokens in your Bitvavo account. The majority of the assets are kept in cold storage by Bitvavo, which means they are managed offline for extra security. We also recommend enabling two-factor authentication (2FA) as an extra layer of security for your account.

Many software and hardware wallets support NKN. After purchase, you can easily transfer NKN tokens to an external wallet by linking the wallet address to your Bitvavo account. This way, you have full control over your cryptocurrencies.