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Highlights
- The New Kind of Network (NKN) is one of the largest blockchain networks based on peer-to-peer networks, which operates on a fully consensus node count.
- Earlier in April 2021, NKN saw a tremendous rise and was one of the surprise gainers by 1,400% from a low of US$0.052 in March to a new all-time high of US$0.779 in April.
- According to CoinMarketCap, the NKN is trading at US $0.612127 with a 24-hour trading volume of US $398,562,761.
The New Kind of Network (NKN) is one of the largest blockchain networks based on peer-to-peer networks, which operates on a fully consensus node count. With the node count of well over 100,000 nodes around the world, the Network shares the bandwidth and Internet connectivity with other networks.
Launched in January 2018, the blockchain allows users to sell their connection in return for NKN tokens. As the NKN works without using an IP address, it ensures the privacy of the host and that of the user.
Why NKN's multi-sharing ability is wooing investors
Although the exact reason for the NKN rally is unknown, huge volumes have been seen coming in from exchanges such as Coinbase and Binance, which has grabbed eyeballs on Monday morning.
Also read: Why investors are so keen on TRAC crypto
In fact, earlier in April 2021, NKN saw a tremendous rise and was one of the surprise gainers by 1,400%, from a low of US$0.052 in March to a new all-time high of US$0.779 in April.
What makes NKN so unique?
As it masks the IP address, the biggest advantage is that it secures the privacy of the user and host. Dubbed as “the biggest blockchain network in the world”, NKN is backed by a tremendous community, which ensures that the blockchain has more utility than it shows.
Besides being aimed at building decentralised applications, it enhances the way the peer-to-peer data is transmitted and betters the connectivity. The organisation can utilise this as it allows one to share the bandwidth and internet connectivity with other networks.
Also read: Can Crypto ETFs make their UK debut in 2022?
By using the consensus algorithm, the NKN's peer-to-peer network infrastructure layer uses several applications such as nMobile, which helps in private chats, nConnect, through which one can operate from one network to another remotely and share files using the surge application.
How has NKN fared in the market?
NKN is ranked 159 on CoinMarketCap. According to CoinMarketCap, the NKN is trading at US $0.612127 with a 24-hour trading volume of US $398,562,761. At the time of writing (BST 8:00 am), NKN has a live market cap of US $428,489,036 and has been up by 17.24% past the 24-hour period. NKN has a circulating supply of 700,000,000 NKN coins.
Points to be noted
With the node count of well over 100,000 nodes, the NKN can allow multiple networks to share bandwidth and Internet connectivity with other networks. With the NKN showcasing a bullish momentum, it does present itself as a viable token to invest in. According to market experts, they are betting big from NKN, largely due to its ability to contribute to a wide variety of networks.
The experts predict that NKN could well see its price go up by +264.56% and would reach up to US$364.56 by 2026.
