By A- RATING
The team recently reviewed the NKN project, analysing all the fundamentals listed in our scoring matrix.
Overview
NKN (New Kind of Network) launched in January 2018 and is looking to build a peer-to-peer network connectivity protocol, improving upon the inefficiencies of the current client-server model.
It raised funding via an ICO in April 2018. The ICO sold out in minutes and raised over $12mn.
NKN operates using a Proof-of-Relay consensus mechanism; the first of its kind. Proof-of-Relay rewards data transmission power and network connectivity. The token itself migrated to the Ethereum ecosystem in a token swap. More significantly, its Mainnet was recently released in June 2019, with the development of the protocol assisted by Whitfield Diffie and Stephen Wolfram.
Conclusion
We feel that NKN has a valid use case with a potential global market for its product. Their recent main net launch is seen as a positive after a year after launch and has more nodes than Bitcoin or Ethereum.
There is no direct competitor to NKN with a similar product. There is an experienced, competent team behind the project with funding to develop the project, There are notable and experienced advisors on the project with a strong development of partnerships both within the crypto ecosystem and external markets.
NKN is listed at several major exchanges and is also listed on two decentralised exchanges. There is a price cycle over 12 months for analysis
The detailed project review can be found on our website or here
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