Nodle: Global IoT network on Polkadot powered by smartphones
Internet of Things (IoT) is one of the biggest trends in the digital industry in recent years. Billions of people are using smartphones, tablets, smartwatches and other various types of smart devices.
Those smart devices are going to send and receive millions of transactions every day, so in the Web3 space, the scaling solution for them needs to be really massive. The amount of data sent between users and the devices themselves will exceed anything that we have ever seen before.
Nodle Network comes to play with their IoT decentralization solution. With their protocol-agnostic wireless infrastructure, Nodle will reduce the cost of access into the network that will be powered by millions of smartphones.
Why we need decentralized IoT network?
There will be billions of devices communicating with each other in the near future — be it smart home gadgets or cars. Therefore, in order to interconnect all these devices, we need a network that has to fulfill important criteria
- being secure
- massively scalable
- decentralized
Nodle brings true decentralization and scalability to the IoT industry meaning that all devices in its network can communicate in a secure fashion without any centralized entity that can blacklist the participants or in other ways manipulate the network itself.
What is Nodle Network?
Nodle Network architecture design leverages The Smartphone Infrastructure meaning that it utilizes smartphones as nodes (or base stations if you will) for the network. Leveraging smart phones can easily create one of the biggest world-wide networks allowing almost any smart device to connect from anywhere.
Nodle incentivizes smartphone users that provide the base layer for the network by rewards in the native Nodle Cash (NODL) token as a kind of passive income. Users need to install the Nodle Cash app which then serves as a resources provider — such as wireless ratio or bandwidth.
The economic model is called Proof of Connectivity because smartphone devices create the IoT network. Nodle simply builds the largest decentralized wireless network for all smart devices and items.
How does it work?
Users with their smartphones use them as network nodes that transmit wireless data packets that admire a beacon and are called “noodles” in the Nodle internal system.
Nodle then rewards the primary few nodes that show a brand new packet, paying more or less reckoning on the worth of the packet. So as to ensure that Nodle is faithful to its mining model, Nodle has inserted a validation protocol that guarantees the order of arrival of the beacons.
Nodle Cash app
Nodle Cash app enables earning passive income right into their smartphones by locating and connecting other IoT devices around.
Imagine that during the day, as you pass IoT devices of any kind (fitness trackers, smart home appliances, electric scooters, etc.), the Nodle Cash app offers securely Bluetooth Low Energy (BLE) to those devices.
Your smartphone connected to Nodle then acts as an IoT hotspot, so with the millions of them connected together, it becomes a decentralized wireless network.
In return to connect to the Nodle network, you get rewarded with Nodle Cash $NODL.
Nodle SDK
By using Nodle SDK, you can monetize your own mobile app without any impact on the privacy, user experience or battery life.
Using Bluetooth Low Energy (BLE) enables crowdsourcing of an IoT network without leaking personal data and smartphone performance. In fact, there are just a few kb of data required so all kinds of apps can benefit from Nodle Network without any type of ads.
NODL Token
The native token of the Nodle Network is NODL. It is the utility token that serves as a reward for the network participants as well as the payment instrument for IoT services and interaction with dApps. Transaction fees are also payable in NODL.
NODL can be staked, which helps with securing the network.
NODL serves also for the on-chain governance in the Nodle Chain, so the users can vote on the protocol upgrades.
The maximum supply is 21 billion NODL. 60% of the total token supply is reserved for future network service and mining rewards.
Nodle crowdloan
Nodle started the crowdloan to allow any user to participate in the parachain auction on Polkadot.
By locking DOT tokens into the Nodle crowdloan, users can receive a reward in NODL tokens. 850 million NODL (10% of the circulating supply on the Nodle Mainnet) were allocated as support for the crowdloan. The minimum reward will be 20 NODL tokens per 1 DOT contribution.
30% of NODL tokens will be unlocked immediately after the Nodle parachain launches, the rest 70% will be vested over the 96 weeks duration on a per-block basis.
By early contribution, users can get a 10% bonus and an extra 10% referral bonus.
Participation can be possible through these web pages: https://parachain.nodle.com.
Conclusion
The demand for IoT data grows every day, so there is a need for a decentralized wireless network. Nodle brings that kind of connection between smartphones and other smart devices and creates a new economic model for the provided service. So, with very low usage of data and power, even your smartphone can become a node in the Nodle distributed network and thus automatically a means of a passive income.
Nodle is using the Bluetooth Low Energy (BLE) wireless interface and will support any existing or arising wireless protocol in the future. Any other blockchain ecosystem interoperable with Polkadot will then benefit from the IoT services operated on the Nodle Chain.
Nodle is the decentralized IoT network of Polkadot, that provides secure and low-cost connectivity, an additional layer of security by certifying and authenticating smart devices. It also provides data liquidity to billions of IoT devices. All that is powered by smartphones and enabling to earn NODL (Nodle Cash) as passive income.
Sources: Nodle whitepaper, nodle.com, nodleprotocol.io
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