The Nodle Network (NODL/USDT – Trade it here) is a distributed network that provides delay-tolerant connectivity and services for Internet of Things (IoT) devices. The Nodle Network is a pure software solution that leverages the existing global smartphone infrastructure to provide network coverage and services. Deployed today using the Bluetooth Low Energy (BLE) wireless interface, the Nodle Network is designed to support any wireless protocol, such as Wi-Fi and CBRS The Nodle Network uses a case-, data-, and wireless standard-agnostic. This means that it can be used for relaying any kind of data, such as beacons from Bluetooth Low Energy devices or 5G packets, for many different use cases ranging from simple connectivity services to specialized use cases like asset tracking.
How does Nodle work?
Nodle is a decentralized network made up of millions of smartphones. By downloading the app, users become a “node,” participating in the network and earning rewards in return. The more people join, the more powerful the network becomes.
The Nodle Network’s architecture and system design leverage what is called “The Smartphone Infrastructure,” utilizing smartphones as nodes and base stations for the network. The team at Nodle has developed an innovative way to grow the network through “proof of connectivity.” Using this method, mobile application developers and consumers compete and participate in the network by enabling their smartphones to provide resources such as wireless radio and bandwidth, and in exchange for their contribution, get rewarded with Nodle Cash.
Every smartphone is a “node” just waiting to get to work. Smartphones become nodes by locating and connecting devices within the network. The nodes receive rewards based on connectivity and availability, which varies by location. Nodle’s connect-to-earn app rewards users with NODL tokens – Nodle’s native cryptocurrency – for connecting and powering the network with users’ smartphones.
Tokenmics of NODL
Nodle Cash (NODL) is the native token of the Nodle Network. It is a utility and governance token distributed to the Nodle Network participants by the Nodle Chain. NODL represents a quantification of the utility provided by edge nodes to network users. In the first phase of the network, the main utility shared through the network is connectivity for smart devices. As such, NODL can be seen first as a quantification of the value of the bandwidth and the value of renting the computing, storage, and Bluetooth capability of the smartphone.
The total supply of NODL tokens is fixed at 21 billion. Upon migration of Nodle Cash to its native blockchain in 2020, 60% remains unminted, and 24% is in a treasury under the control of the Nodle governance council of token holders. The treasure aims to stimulate the growth of the Nodle ecosystem. Tokens can only be issued by the Nodle Chain itself, which does so in order to incentivize network participants. Today, these allocations are controlled by a centralized oracle operated by Nodle. However, future upgrades will further decentralize and reduce the trust in this process by:
- Providing clear safety mechanisms within the on-chain code to ensure that the oracle cannot over-issue tokens.
- Providing a clear transparency and auditing mechanism to review the work of the oracle in computing rewards for each participant.
- Moving towards a federation model for our oracle would allow third parties to participate in the oracle’s work.
The token issuance aims to reward edge nodes, operators, and collators. At each reward event, the NODL freshly minted Ik is distributed among participants as follows:
- 80% are allocated for edge nodes. This 80% will be channeled to the NSP (or Nodle Service Provider, the equivalent on the Nodle network to an ISP or Internet Service Provider). The NSP is responsible for deploying nodes on behalf of the network. Currently, it means publishing the SDK and partnering with publishers who will integrate the SDK into their apps. For example, the Nodle company is the NSP for the Nodle Cash App. NSPs are businesses: they compete for acquiring nodes – publishers will go to the NSP that offers the best deal to them. NSPs are also responsible for the nodes they deploy. In particular, they ensure the Nodle SDK is deployed in apps that respect privacy regulations. They also make sure they behave according to edge node operators responsible for deploying the nodes to the network.
- 10% are allocated to build the protocol. Until the Nodle DAO exists, these are transferred to a wallet controlled by the Nodle council. Once the Nodle DAO is created, the DAO will reward protocol builders through token grants or other means deemed appropriate by the community.
- 10% is allocated to collators.
About the team
Co-founded in 2017 by Micha Benoliel and Garrett Kinsman. The Nodle team is now a group of 40 experts in varied fields such as cryptography, finance, operations, blockchain, wireless protocols, and mesh networking. While originally founded in San Francisco, Nodle is now a fully remote company.
Recent NODL Token Price & Performance
Since listed on MEXC in August 2022, NODL reached the highest price (ATH) of 0.047700 USDT, and the lowest price was 0.004659 USDT.
How to buy NODL Token?
You can buy NODL on MEXC following the steps:
- Search “NODL” using the search bar to see the available trading pairs. Take NODL/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of NODL you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy NODL] to confirm your order. You will find the purchased NODL in your Spot Wallet.
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