NKN – an acronym for New Kind of Network – can be compared to Substratum and Ontology, two projects are building a decentralized internet solution. But a better perspective would be a triumvirate where NKN provides decentralized networking, Ethereum takes care of the decentralized computing, and Filecoin/IPFS does the hosting via decentralized storage.
One of the first applications built on NKN is a Smart home IoT, a Proof-of-Concept for what the team calls the “Airbnb of the Future,” a decentralized sharing economy. The NKN hype started two years ago when an impressed observer exclaimed:
This project has the highest potential to achieve mass adoption out of all the competitors in this space!Ikenna Odinaka
At the time of writing, NKN is already the most extensive blockchain network globally, with over 101,000 nodes, with Bitcoin and Ethereum having roughly 10,000 nodes each. We’re getting ahead of this puzzle, so let’s start from the beginning.
What is NKN?
Network Infrastructure for a Decentralized Internet, known as NKN, is the working of unique peer-to-peer networks based on blockchain technology. The NKN Ecosystem is powered by a novel public blockchain that uses monetary incentives to push Internet users for network connection sharing. This way, they will be able to utilize the bandwidth that is still unused available with them.
Thus, NKN offers the “new Internet,” i.e., the public internet network and more network resources.
This project was launched in the year 2018. The founder of the NKN network is Bruce Li, who was also the ex-Chief Operating Officer for the cryptocurrency project. The founder stated that the network operates from offices based in Beijing and another in Silicon Valley in an interview.
Using the NKN blockchain, you can share your Internet connection with different users from across the Internet in a P2P manner.
The NKN network uses Proof of Relay’s consensus mechanism or the POR consensus. The benefit of this consensus is that it is highly secure and evades attacks directed to the network. Hence, data transmission can be verified, and the verification cannot be tampered with.
Currently, there are more than 25K nodes to validate financial transactions and all the imaginable data on the NKN blockchain. This makes NKN an already impressive network, wherein the participants receive rewards.
Therefore when it comes to the NKN price predictions, it is essential to learn about the use cases of the NKN token.
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|NKN||$ 0.097675||$ 63.37 M||10.97%||650.00 M||$ 4.15 M|
Cellular Automata, A New Kind of Science, and the Ising Model build NKN’s consensus algorithm. A simple local majority rule can allow nodes to reach an agreement in a small number of iterations.
The NKN network has several Chinese collaborations under it as it forms the next-generation blockchain systems. These include:
- D-chat: This is a private and decentralized network-based chat system that offers end-to-end encryption based on the NKN network. It is entirely free for integration with the Chrome browser and provides offline messaging. More than 10k nodes are operating and even allow the users to upload audio, video, or pictures.
- Nutshell: It is similar to SSH in many aspects. It executes shell commands from users who are authenticated by the NKN network. After that, the network sends back results through the NKN-client and monitors for incoming requests from the NKN-multiclient-js application.
- Edge computing: The NKN entered into a partnership with China Mobile.
- Content Delivery System: NKN scored another partnership with iQIYI. This is one of the biggest and most-used platforms for video streaming in China, with many users. The NKN network can handle the entire financial system of a firm.
NKN Price History
NKN Tokens Summary
NKN is trading today at $0.2321, a 1.61% drop in the last day. Trading volume for the same period has dropped by 49.52% to $4,200,060.
NKN has a maximum supply of 1B with 700M in circulation.
NKN Technical Analysis
MACD and signal lines are distant from the zero line. The MACD line just broke below the signal line. This shows market volatility, and prices may be corrected after reaching the day’s highest price.
The figure below shows a trend that began on 17th March, pushing prices from lows of $0.018 to today’s current price of $0.0231.
Trading volume has dropped by more than 40% in the past day, which could explain the market’s volatility. Long term, we anticipate the NKN price to sell at a higher price.
Cryptomarkets are unpredictable, and you should not take this as investment advice.
NKN price predictions 2022 – 2030
According to WalletInvestor, NKN is an A+ investment with a possible 558% return in five years. NKN will not have a particular trend for the next two weeks; NKN coins will sell between $0.247 and $0.2026. NKN will sell at 234% of its current price this same time next year.
NKN price value and buying/selling volume have depreciated in the last few days. NKN is expected to trade at a high of $0.60 and average $0.50 this year. In 2023 they predict NKN price will reach a high value of $0.86, the minimum value of $0.73, and an average of $0.75. This will be a 100% gain from this year’s price. NKN prices will reach the $1 mark in 2025; prices will average $1.54 and reach a maximum price value of $1.84. In 2026 positive momentum will see prices reach $2.29 ranging between $2.21 and $2.56.
NKN has vast potential and will interest many traders. Due to this fact and based on historical data, Technewsleader believes the NKN price will sell higher every year. Its price will attain the $1 mark in 2026, the $2 mark in 2028, and as cryptocurrencies move into a new era, NKN will trade at $4.93.
Note: All amounts in USD.
NKN Price Prediction 2022
NKN is trading at about $2.4 and has sold lower. Historical trends suggest NKN will trade higher and sell at a mean of $0.27 this year. Prices in a calm market will range between $0.30 and $0.26.
NKN Price Prediction 2023
As the ecosystem incorporates, more node operators’ prices will trade higher to $0.40, selling between $0.39 and $0.47.
NKN Price Prediction 2024
Further partnerships with giants in the Telco industry will send prices to $0.57. NKN will trade between a high $0.69 and a low $0.55.
NKN Price Prediction 2025
By 2025, NKN will have come to the limelight. Mass adoption and recognition by bigwigs send prices close to the $1mark. NKN will trade at an average price of $0.83.
NKN Price Prediction 2026
Prices will surpass $1 and will trade between $1.17 and $1.40
NKN Price Prediction 2027
New collaborations within the sector will help maintain momentum. We forecast NKN coin will trade at and pass its $1.44 ATH in 2027. The maximum price will be $2.04, and the minimum price will be $1.72 and will average $1.78.
NKN Price Prediction 2028
Technical data analysis suggests prices will continue to pick up into 2028. The mean trading price will be $2.59.
NKN Price Prediction 2029
As the crypto revolution enters a new era of decentralization and privacy, rewarding incentives will make more people opt into daPPs. Trading volumes will increase, and prices will average $3.99.
NKN Price Prediction 2030
Adoption into new jurisdictions will push prices further into the $5 mark. NKN will sell between $6.77 and $5.48.
NKN Price Predictions by Industry Influencers
The future of Web3 is here, and top industry players are positioning themselves to earn from its benefits. Grayscale is one of the largest registered digital assets managers. Web 3 has enormous potential, and NKN is working on its infrastructure.
NKN will prove to be a profitable investment as mass adoption of web3 occurs.
Web 3 is the future of global networking, and NKN is building the infrastructure for decentralized networking. NKN will provide a peer-to-peer bandwidth sharing protocol and incentivize its users. This protocol plays a significant role in web 3. While big companies and monopolies currently control the industry, NKN has a steep climb.
The NKN network is highly scalable and is said to be capable of accommodating millions if not billions of nodes. The program is easily implementable and available in multiple programming languages.
NKN has an ambitious team, and with high adoption, it will redefine the rules of peer connectivity and privacy.
FAQS about NKN
Is NKN a good Investment?
NKI is a good project with prices set to trade higher this year.
Where can I buy NKN?
Which wallets can store NKN?
NKN tokens can be stored in the Trust wallet, NKN wallet, and Ledger wallets.
Will the price of NKN hit $5?
NKN price might hit $5 in 2030.
At what price will NKN sell ten years from today?
Extrapolated forecasts place NKN at $8.5, given crypto markets do not crash.
Will NKN replace Bitcoin?
NKN will not replace bitcoin. NKN and Bitcoin have different use cases.
Will the price of NKN crash?
The probability of NKN crashing is low