ICO Review NKN by GosuCrypto (ENG)

MamkinTrader
May 25, 2018 · 12 min read
  • Project name: New kind of Network
  • Symbol of the token: NKN
  • Web-site: https://nkn.org/
  • White paper: in English here
  • Hard cap: Earlybird(Presale) — 12000eth, Sale — 12000eth.
  • Bonus structure: Earlybird 1eth — 4500 NNC, Sale — 4150 NNC
  • Platform: up to the own blockchain, NEP-5
  • Date of distribution of the token: tokens will be issued in 1–2 months after sale

The model of Internet network which exists at the moment does not meet requirements of the society as in course of time it lost its original appearance and a number of major deficiencies began to appear, such as:

  • protection of privacy policy is strictly limited;
  • information is fragmented and is not protected against censoring;
  • network capacity is used ineffectively;
  • network lost neutrality.

Blockchains of new generation cannot be used completely in the current Internet model due to the following reasons:

  • usage of centralization for increase of efficiency;
  • sacrifice of scalability of network for increase of speed of coordination;
  • limitation of the node participation speed or demand for authorization with the aim of increase of protection;
  • usage of exclusively financial motivation or participation of authorized third people for solution of problems which can be solved mathematically and technologically.

But as it is quite hard for us to do without Internet network, it’s time to find more effective solution. NKN is directed for solution of all above-mentioned problems and many other.

So what is NKN?

NKN stands for New Kind of Network.

NKN is a project which is aimed at remaking Internet, making it really available, decentralized, dynamic, safe and belonging to the society. The project will be directed for decentralization of network as it is broadly defined, starting from connection of applications and ending with network protocols. NKN is intent upon improving the blockchain to reach an effective and fair consensus without sacrificing with equality of nodes and decentralization. The project will use a blockchain for maximum usage of network resources and stimulation of society which will participate in creation, administration and augmentation of the network. NKN is going to revolutionize in area of blockchain ecosystems by means of innovation at the level of network hierarchy. The next generation of blockchains which is based upon NKN, will be able to support new types of decentralized applications which will have much more powerful possibilities of connection and transmission. NKN is going not only to revolutionize in area of decentralized layers of the network, but also to develop the main technologies for appearance of a new generation of blockchains.

NKN is developed at several innovational components which stand out from the current solutions.

  1. Blockchainisation of other building blocks of computing infrastructure (NKN represents a scheme of conception of DDTN and uses a really decentralized blockchain so that to provide network connection and power of data transfer by using a huge number of nodes which are responsible for traffic transmission, it helps to solve a problem of increase of odd data in the network).
  2. DDTN working from Cellular Automata (NKN represents the idea of usage of cellular automata so that to remake a network level. Such attribute as decentralization is peculiar for cellular automata and equivalence of nodes and coincidence allow us to build a really decentralized blockchain network).
  3. Agreement managed by Cellular Automata (NKN effectively reaches agreement with high fail-over protection in large-scale distributed systems on the basis of the cellular automata which is necessary for decentralized systems without third authorized people).
  4. Proof of Relay and Proof of Work protocols (NKN offers Proof of Relay protocol, mechanism which encourages participants of the network (by an award obtained) to promote development of the blockchain network by means of division of their connection and capacity, hereby improving network connection and data capability).
  5. Issue of tokens for network connection and data capability (KNK issues tokens for network connection and data capability encouraging participants of the network to divide their connection and capacity in exchange for tokens. Unimplemented network resources can be used much better by means of such mechanism of distribution. NKN improves usage of resources of the network and efficiency of data transfer).
  6. Network outfit of tools for quick and efficient development of decentralized applications (with the help of NKN developers of decentralized applications will get a network outfit of tools for quick and easy creation of really decentralized applications. Developers of decentralized applications will be able to completely focus on creativity, innovation, user’s interface/user’s experience and business logic. This outfit of tools completes tooling developed by other blockchain projects which work at identity, computer-managed instruction, payments, storage, etc.)

NKN is the next generation of peer-to-peer network infrastructure built at blockchain technology which is based upon Cellular Automataa Theory technology.

We will try to explain in brief what the cellular automata is. In short, this is a three-dimensional lattice of arbitrary dimension, each cell in which at each moment of time can get one of finite set of states, and where rules of transition of cells from one state into other one are defined

Nodes in NKN act as cell automatas which change the state on the ground of combination of their own input data and states of their neighbors. Cellular automatas will be used for renewal at several quality levels. It will allow getting the network with increased and unique standards and principles of work. It refers to the following aspects:

  • full decentralization of the network (it means that all components of the ecosystem of NKN project will be decentralized, it will refer to all connected applications, as well as to the main network protocols);
  • blockchain will be improved so that to provide all participants of the process with effective consensus-building (in this case equality of informational nodes and information in them is kept);
  • blockchain will be used to reach the highest standards of work with network resources and to administrate the network itself.

It is also worth mentioning that NKN offers Proof of Relay (PoR), analogue of useful Proof Of Work. PoR does not bring about waste of resources, participants obtain an award by means of presenting more number of network resources than they consume. NKN uses PoR mechanism to guaranty a network connection and capacity.

NKN issues tokens for network connection and data capability encouraging participants for connection and provision of their capacity, so that to increase efficiency of data transfer.

Moreover, NKN is designed to let file exchange in the network and possession in the network through its own users. Economic model and model of administration of NKN will reflect it in development and realization. Innovative technical and economic models complement one another and will enhance together power of NKN network.

A very star team gathered in NKN project. We will tell you about few of them.

The main members of the team:

Yanbo Liis a co-founder and main developer of NKN, founder of distributed network architecture. He graduated from Stanford and Beijing Institute of Technology and has distinguished experience in cryptography. Co-founder and responsible for administration of Onchain, company which developed Ontology and possessing NEO. He is also an advisor in Trinity ( off-chain for dimensional scaling NEO). Besides, he participated in development of code of the network subsystem Linux Kernel. DNA blockchain can be included into list of his projects. It is worth mentioning his decade-plus long experience of work, researches and developments at Nokia, Motorola, Qualcomm which are specialized in software architecture design of distributed network system and realization of network protocol Mesh.

Bruce Z. Liis a co-founder and responsible for strategy and innovations. He obtained the degree of master at the university of Shanghai and at the national university in Australia, he has 4 patents, he wrote and published a book and 2 articles. He has experience of work as a technical manager of programs in Google and he held various positions at the company Nokia in addition to successful creation of startups in area of mobile and wireless programs, he also managed groups R & D in the USA, European Union and China.

Justin Wang-is a co-founder and main researcher. He completed Bachelor’s program at Peking University, he’s a candidate of physical and mathematical sciences at the University of California, expert of cellular automatas. He’s one of the largest authorities in area of increase of power of wireless connection, loT and cloud calculations. He has more than ten years of experience at Nokia, Microsoft and Ericsson. He is the author of two world technological books Artech House. He obtained an award for innovations in area of Research and Advanced Development for Nokia in 2014; Microsoft in 2015, Ericsson in 2017.

There are 14 people in the team in all. Many of them have top education (MIT, Princeton, Stanford), experience of work at technological companies (Nokia, Motorola, Qualcomm, EMC). They have great experience in area of cryptography and development of software oriented for highly scalable networks.

At the moment the project has only one advisor but what!

We are introducing you a legend Whitfield Diffie.

Whitfield Diffie-is one of the most famous American cryptographers who obtained global fame for conception of public-key cryptography.

He invented “Diffie–Hellman key exchange”, winner of Turing Award in 2015. In Stanford he worked under command of John McCarthy on the project ARPANET which became an ancestor of Internet network.

Here is incomplete list of his awards and regalia:

  • Member of Royal Society of London
  • Member of Nation academy of engineering
  • An honorary doctorate of Swiss Federal Institute of Technology
  • Member of Marconi Foundation
  • Doctor of science (Honoris Causa), Royal Holloway, University of London
  • Award IEEE of Donald G. Fink in 1981
  • EFF Pioneer Award
  • Paris Kanellakis Theory and Practice Award
  • Louis E. Levy Medal, the Franklin Institute in 1997
  • Richard W. Hamming Medal
  • The National Inventors Hall of Fame
  • National Cyber Security Hall of Fame, etc.

At the moment he is a consultant of the Centre of international security and cooperation at Stanford university. By the way, he spoke at Consensus in 2018.

In ICO DROPS there is High interest: (besides, we know that Drops participated in sale/presale)

Many of those who kept tables, had the project:

Shilling Boxmining and Brad Laurie

The team did not invest money in marketing and bounty. But it made a speech at NEO DEvcon in January. Also, they will speak in May-June at 4 meet-ups/conferences (view here)

Shilling for CNBC

Traffic analysis shows the main interest for the site:

Interestingly, in the last season of “Silicon Valley” series the main heroes make a very similar product “Decentralized internet”.

“Project oriented for reconstruction of Internet which will be really open, decentralized, dynamic, safe, common and belonging to society.”

Telegram (from 06/02/2018)( in the English-speaking group) 16 590 followers.

Twitter- (from 26/01/2018) 4321 readers, 176 tweets

Reddit: 89 followers, large number of publications

Github: 8 repositors, 7 authors.

First and foremost, we can expect listing at Switcheo.network

To my mind, such project can also be listed by Huobi(Hadax), Okex, Gate.io, Kucoin, Lbank. Bruce Lee’s answer in Telegram encourages to it:

UPD. Top 20 exchange Gate.io will open bidding on Monday 28/05 NKN.

There is a theory connected with Ontology that Binance listed ONT on March 8, gate did it on March 7.

Total number of tokens: 1 000 000 000 NKN, from which:

  • 35% (350 000 000 NKN) are allotted for sale at ICO;
  • 18% ( 180 000 000 NKN ) are reserved for the team and advisors (they will be issued during 3 years, by 1/3 every year);
  • 17% ( 170 000 000 NKN ) are reserved for the fund from which means for creation of society and support of NKN network will be allotted;
  • 30% ( 3000 000 000 NKN ) will be gradually generated by mining during 25 years.

Private — tokens have 6-month vesting and lock period.

Presale и Sale — sale was carried out via platform Leekico

We have recently posted a renewed roadmap where the second and the third quarters of 2018 are described in detail:

Primarily, this is strategic partnership with one of the coolest teams Cryptic Labs headed by Whitfield Diffie (proof here)

There are serious funds in investors, such as: NEO Global Capital and etc.

NKN joined Telecom Infra Project, the mutual telecommunication society founded by Facebook, Deutsche Telecom, Intel, Telefonica, Nokia, Vodafone and BT. NKN will participate in several working groups, such as Edge Computing Group, OpenCellular Group and TIP Community Labs.

In case of correct realization NKN will become a real revolution not only in blockchain but in IT on the whole. The team of the project includes only a star team of leading scientists from the largest universities and a really legendary advisor, the task of whom is not only to make a quick buck. Their task is much more global: to change architecture of the whole Internet. The project develops absolutely new blockchain ecosystem of the next generation.

There are a few similar projects:

Decenternet (they want to gather $320 million for ICO) — alternative high-speed P2P Internet, infrastructural platform is not limited by politics and censor.

Orchid Protocol (they want to gather $120 million for ICO) — market, completely decentralized anonymous p2p-system, Sequoia Capital, Andreessen Horowitz are among investors.

Substratum (charges for ICO 150 000 ETH) — decentralized network for free and unlimited access for content, market value is about $160 million)

But no one from the similar projects is not like NKN by its immensity and revolutionary character.

On 31/01/2018 Yanbo Li presented for the first time his project at DEVCON, the main annual event of blockchain platform NEO where the majority of developers present projects made for development of NEO ecosystem. At the moment there is no great number of information about future developments NKN, many facts represent that there is a direct connection between NKN, NEO, Onchain and Trinity, and NKN can be a subsidiary company of Onchain/NEO, and its aim is to become a part of the global Chinese blockchain ecosystem.

Advantages of the project:

  • popular product
  • very powerful team of developers
  • legendary advisor
  • the project has already obtained great hype
  • for such a new project, a big and live community believing in a product
  • high probability of project support from NEO/Onchain
  • extremely positive comments in publications at CNBC, icodrops, @boxmining and other leaders of opinions

Disadvantages of the project:

  • there are a few similar projects in the works (Orchid)
  • there is no a ready product yet (Testnet will be at the end of 2018)
  • longtime realization of the project (long roadmap)

The main risk of investments is in the process of development outstretched by time (the main run of network is set for the first quarter of 2019).

I think that the given project is very perspective for flip, as well as in the form of a long-term investment. On entry into exchange (if there is no large risks) I will buy in addition. I want to keep such project in my portfolio for a long term.

Short term:

Good.

Long term:

Good.

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