What is NKN? How To Buy New Kind of Network Token In India?

What is NKN (NKN)?

NKN or New Kinf of Network, is an open-source protocol for peer-to-peer networks. The architecture centers on a public chain that tokenizes network connectivity and data transmission capacity. It focuses on decentralizing network resources in the same way that Bitcoin or any other crypto decentralizes computation power, or interplanetary file system (IFPS) and Filecoin decentralizes storage. 

The network is powered by its native asset, NKN which is used to transact in digital asset transfers and also pay for data transmission resources network. There are over 100,000 active NKN nodes located across 71 countries and counting. 

Who Are the Founders of NKN?

The NKN team is a group of engineers with many years of experience in network software and blockchain technology. The company was founded by Yanbo Li, Bruce Li, and Yilun Zhang. All three share the same vision and ambition of building the largest blockchain in the world of internet connectivity. 

How Does NKN Work?

As said, NKN protocol is a platform for peer-to-peer networks, its architecture mainly consists of the following things, 

• nConnect 

It enables secure remote access to the user’s private data and personal files. The system leverages encryption and an immutable ledger to protect user data.

• nMobile

It is a mobile App that includes multiple components like decentralized chat, wallet integration, etc which are designed to enable secure communication and non-custodial token storage. 

• DataRide

It offers resources and technical documentation to streamline the creation of decentralized applications (dApps). It also includes template modules and a framework for creating custom modules & dapps. 

• Global ID

This offers access to the growing NKN ecosystem and incorporates an NKN address that is unique, making it simple for the users and applications when they need them the most. 

What Makes NKN Unique-Use Cases?

• The primary uses of NKN include the content delivery system, edge computing, D-chat, and n-Shell
• Besides this, the NKN utilizes consensus based on cellular automata, where-in a simple rule can lead to system-level convergence in very small iterations. 
• The platform also uses a global addressing scheme based on public keys to enable peer-to-peer communication without centralized servers.
• Moreover, the routing of packets is based on Chord Distributed Hash Table (DHT), which maps each NKN address to a random and verifiable position on the Chord DHT ring

NKN(NKN) Price Analysis

Source: Tradingview

• The NKN price is trading within pre-determined resistance and support levels and approaching the lower support of the Bollinger bands.
• The bands are currently squeezing, which may continue for some more time, which indicates the price may continue to maintain a descending consolidation.
• Besides, the RSI is also plunging which substantiates the bearish claim and paves the way for a drop below $0.1 soon
• However, the price may undertake a giant action when the bands experience a massive squeeze, and then a breakout may occur depending on the volume induced. 

Read more: Top Crypto Price Predictions

How to Buy NKN in India?

To buy NKN in India, just follow the below-mentioned steps:

• Download the CoinDCX App on your Smartphone
• Enter the details required for registration.
• Complete KYC
• After your profile is verified, fund your wallet and buy an NKN