NKN
Crypto Overview
Project Overview
NKN is a peer-to-peer network connectivity protocol and ecosystem that aims to revolutionize Internet connectivity by utilizing blockchain technology. The project was launched in 2018 and focuses on building a decentralized network where participants can share their bandwidth and get rewarded with NKN tokens.
Intended Utility
The primary purpose of NKN is to serve as both a network connectivity protocol and an incentive mechanism for network participants. The NKN token is used to pay for network connectivity services and reward node operators who share their bandwidth resources. Node operators can earn NKN tokens by contributing their unused network connectivity and helping to relay data across the network.
Actual Utility and Development
The project maintains active development with regular GitHub updates and has achieved several notable partnerships, including with China Mobile and Chinese tech giant Synology. The network currently has over 25,000 full consensus nodes operating globally, making it one of the largest blockchain networks by node count.
Token Distribution and Governance
The initial token distribution included allocations for the founding team, early investors, and ecosystem development. The project implemented vesting schedules for team and advisor tokens. The current circulating supply is approximately 1 billion NKN, with a maximum supply cap of 1 billion tokens.
Revenue Model and Technology
The revenue model is based on network participants earning NKN tokens for sharing bandwidth and maintaining nodes. This model doesn't involve interest or lending mechanisms, making it compliant with Islamic financial principles. The technology focuses on improving network connectivity and data transmission efficiency.
Crypto Impact
To assign a comfort level investing in NKN from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to NKN.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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