Cryptocurrency has a strong footing in the global economy. Whether it is the future or the current requirement for doing business, crypto has an answer to everything. Every cryptocurrency provides a solution to a problem. Increased speed of the internet, increased trade volumes, globalization of businesses, and so many other things can happen or can happen smoothly because of cryptocurrency.
Another addition to this long list of cryptocurrencies is the New Kind of Network or the NKN. NKN was launched in 2018. The developers wanted to launch a better blockchain for data transmission. NKN is a public blockchain designed to promote sharing of connectivity and network bandwidth. This network operates one of the largest networks in the world. The network currently hosts +73,000 active nodes located across 71 countries.
Why was NKN introduced?
Why should you choose NKN?
Relatively new, NKN has shown immense growth over the past few years. There are numerous benefits for users when they join the platform. While providing a high level of transparency, the network operates as a decentralized open-source code that does not depend on centralized servers. Since the users gain rewards, they stay loyal and help expand the network. Anyone can earn a quick buck by sharing their connectivity and bandwidth. Obviously, rewards are paid out in the platform’s utility token NKN. One of the biggest advantages of the NKN is its scalability which is in place because of its technical structure. The open-sourced decentralized network enables developers to create applications using the network’s best features.
Facts about NKN you should know
NKN has a total supply of about 1,000,000,000 tokens out of which 700,000,000 are already in circulation. At the beginning of February in 2022, the NKN to INR price was 20 rupees. NKN had an interesting year. At the same time last year, 1 NKN cost 2 rupees. The value touched 102 rupees in the month only to come crashing down again. This token has seen an upward graph after that. The future of this currency is said to be bright and if you are looking to invest, then now is the correct time. If you look at the growth of this token in percentage, you are sure to realize that it has gained value solely on the basis of merit and on the basis of its application.
How does NKN work?
The NKN contains various protocols to curate a one-of-a-kind ecosystem. The Connect protocol facilitates secure access to your private collection of data and your personal files. Mobile includes multiple components such as a decentralized chat, wallet integration, and solution utilization. You can communicate securely using Mobile and the wallet is non-custodial which helps to improve the overall security of the platform. dataRide provides a long list of resources and technical documentation to streamline Dapp creation. This benefit has some ready modules as well as the option to customize them. The Global ID feature of the network helps to streamline entrance into NKN applications and systems. The protocol incorporates a unique NKN address to make it simple to find users and applications when you need them most.
Buying NKN from a trusted source
When you are buying NKN, it is important to go to a trustworthy source. One such exchange platform that can not only help you with buying and also get more information about NKN, is CoinSwitch. This platform will give you an overview of the patterns that have been observed in NKN coins. To get started on this app, you just need to download it without any charge and complete your KYC. Post completion you can add funds to your wallet and start trading immediately. Add your most liked crypto to favorites and see it on your home screen. For example, if you have invested in LTC and wish to know regarding the LTC to INR value from time to time you can add it to the price alert list. This way you can get information regarding any change in the price of the coin. The same can be done for the coins you have invested in. You can even look at the top gainers and top losers to analyze where to put your money.