Nodle Network

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Discover Nodle Network's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Nodle Network?

The Nodle Network (NODL) is a decentralized physical infrastructure (DePIN) that leverages smartphones as nodes to create a digital trust network for social good. It powers critical applications such as authenticating media content, locating assets, and proving location. Users can participate in the network by running the Nodle app on their smartphones, earning crypto and minting NFTs in the process. The network rewards users based on the wireless data packets transmitted through the network, ensuring a secure, private, and scalable infrastructure.

How is Nodle Network used?

The Nodle Network (NODL) is a decentralized physical infrastructure (DePIN) that utilizes smartphones as nodes to create a digital trust network for social good. The network rewards users for participating in various activities, including:

  1. IoT Validation: Nodle uses Bluetooth signals to validate IoT devices, enabling companies to track and connect devices worldwide.
  2. Content Authentication: The network authenticates media content on blockchain, ensuring it remains untampered and trustworthy.
  3. Smart Missions: Companies can create smart missions to incentivize users to connect specific devices to the internet, allowing data to be transmitted and rewarded with NODL tokens.
  4. Digital Trust: Users can earn crypto and mint NFTs while powering the DePIN network, which fights misinformation and records the world in a digital trust network.

The NODL token is used for several purposes:

  • Rewarding Participants: NODL tokens are minted and distributed to edge nodes, operators, and collators as rewards for their services.
  • Network Fees: The token is used to pay for network fees and connect devices.
  • Governance: In the future, NODL token holders will be able to vote on significant changes to the Nodle Parachain.

Overall, the Nodle Network provides a decentralized infrastructure for various use cases, rewarding users with NODL tokens for their participation and enabling companies to leverage the network for their own applications.

How do I store Nodle Network?

To store Nodle Network (NODL) tokens, you can use various methods:

  1. Nodle App: Create a wallet within the Nodle App on your mobile phone. This app allows you to manage your NODL tokens and perform transactions.

  2. Nodle Client: The Nodle Client is a web-based interface that allows you to manage your wallet, view your balance, and send NODL tokens. It is recommended for basic wallet management.

  3. Nodle Portal: The Nodle Portal is a more advanced web-based interface for interacting with the Nodle chain. It allows you to create accounts, manage transactions, and send tokens. However, it is designed for more advanced users and complex transactions.

  1. External Wallets: You can also store your NODL tokens in external wallets like Novawallet or Ledger. These wallets provide additional security and flexibility for managing your tokens.

  2. Nodleprotocol.io: You can set up a wallet on the Nodleprotocol.io website and save your login information and recovery phrase for secure storage.

Remember to always follow best practices for securing your wallet and recovery information to prevent loss or unauthorized access to your tokens.

How to buy Nodle Network?

To buy Nodle Network (NODL) tokens, you cannot purchase them directly with fiat currency using traditional financial methods like PayPal or bank cards. Instead, you need to follow these steps:

  1. Buy a Cryptocurrency with Fiat: First, purchase a cryptocurrency that can be easily bought with fiat, such as USDT, BTC, ETH, or BNB. This can be done through various crypto exchanges or wallets that support over-the-counter (OTC) trading services.

  2. Choose a Crypto Exchange or Wallet: Select a crypto exchange or wallet that supports Nodle Network (NODL) trading. Popular options include Gate.io, Kraken, and HTX.

  3. Register and Verify Your Account: Register an account on the chosen exchange or wallet and verify your identity. This typically requires a government-issued identification document. Enable two-step verification for added security.

  1. Fund Your Account: Use your fiat currency to buy USDT, ETH, or BNB through the exchange or wallet. You can also use financial service platforms like PayPal or Robinhood if available.

  2. Transfer to Nodle Network (NODL) Trading Platform: If the exchange or wallet supports both fiat purchases and Nodle Network trading, you can proceed to the next step. Otherwise, transfer your purchased cryptocurrency to an exchange that supports Nodle Network trading.

  3. Buy Nodle Network (NODL): Use your transferred cryptocurrency to buy Nodle Network (NODL) tokens in the spot market.

After purchasing Nodle Network tokens, you can store them in a wallet, trade them for other cryptocurrencies, earn rewards by staking, or use them to purchase goods and services from platforms that accept crypto payments.

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History of Nodle Network

The Nodle Network (NODL) is a decentralized network that leverages smartphones to provide IoT connectivity and services, rewarding users with NODL tokens for their participation. The network was co-founded in 2017 by Micha Benoliel and Garrett Kinsman. Initially, the project aimed to create a decentralized data network providing connectivity and processing of micro-payments for the Internet of Things (IoT).

In 2020, Nodle Cash (NODL) migrated to its native blockchain, with 60% of the total supply remaining unminted and 24% held in a treasury controlled by the Nodle governance council. This treasury is designed to stimulate the growth of the Nodle ecosystem.

The Nodle Network operates through a proof of connectivity algorithm, which incentivizes users to share their network resources by rewarding them with NODL tokens. This approach allows anyone with a smartphone to participate in the network, promoting atomization and faster adoption of cryptocurrencies.

Today, the Nodle Network is a fully remote company with a team of 40 experts from various fields. The project has expanded to include a range of products and services, such as the Nodle App, Nodle Hotspot, and Nodle SDK, all designed to facilitate the growth of the decentralized network.

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How Nodle Network works

The Nodle Network (NODL) is a decentralized, smartphone-based infrastructure that provides connectivity and services for Internet of Things (IoT) devices. Here's how it works:

Architecture and Functionality

The Nodle Network leverages the existing global smartphone infrastructure to provide network coverage and services. It uses Bluetooth Low Energy (BLE) wireless interface, which supports various wireless protocols such as Wi-Fi and CBRS. This allows it to relay different types of data, from simple connectivity services to specialized use cases like asset tracking.

Node Participation and Rewards

Smartphones become nodes by downloading the Nodle app and participating in the network. Users are rewarded with NODL tokens for connecting and powering the network. The more people join, the more powerful the network becomes. The rewards are based on connectivity and availability, varying by location.

Tokenomics

NODL is the native token of the Nodle Network. It serves as both a utility and governance token. The total supply of NODL tokens is fixed at 21 billion. The token is used to reward participants, allow consumers to use network services, and facilitate value exchange between users. In the future, NODL will also be used for governance and staking.

Proof of Connectivity

The network uses a "proof of connectivity" method, where mobile application developers and consumers compete and participate in the network by providing resources like wireless radio and bandwidth. This incentivizes users to enable their smartphones to provide connectivity, earning them NODL tokens in return.

Use Cases and Partnerships

Nodle has various use cases, including IoT validation via Bluetooth signals and attestation of photos and videos. It has partnered with companies like Massive and Hayden AI to enhance data security and explore opportunities for its ContentSign authentication technology.

Nodle App and SDK

The Nodle App allows users to earn crypto and mint NFTs while securely powering the network. The Nodle SDK enables app developers to monetize their apps without collecting user data. Additionally, the Nodle Hotspot allows users to transform old phones into dedicated Nodle hotspots, earning cryptocurrency.

Governance and Future Development

NODL token holders will be able to vote on significant changes to the Nodle Parachain, such as system-wide upgrades and new features. The governance system is still being defined. Future upgrades aim to further decentralize the network and reduce trust in the centralized oracle.

Overall, the Nodle Network is a decentralized, smartphone-based infrastructure that rewards users for providing connectivity and services, with a native token that serves both utility and governance purposes.

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Nodle Network's strengths

The token Nodle Network (NODL) has several strengths:

  1. IoT Components: Nodle's strength lies in its IoT components, which provide connectivity and processing power for IoT devices. This enables secure data transmission and micro-payments within the IoT ecosystem.

  2. NFT Utility: The Nodle Network also has potential utility in its NFTs, particularly for onboarding and data transmission. This adds value to the network and its participants.

  3. Decentralized Architecture: The Nodle Network is built on a decentralized architecture, which allows for distributed connectivity and reduces barriers to entry for IoT devices. This decentralized approach also enables the network to incentivize participants through the NODL token.

  1. Governance and Staking: The NODL token is not only a utility token but also a governance token, allowing holders to participate in decision-making processes and vote on significant changes to the network. Additionally, staking features are planned to further incentivize participants.

  2. Predictable Token Supply: The total supply of NODL tokens is capped at 21 billion, ensuring a predictable and controlled supply that can help maintain the token's value.

These strengths position Nodle as a promising project in the IoT and decentralized network space.

Nodle Network's risks

The Nodle Network (NODL) carries several financial risks. One significant risk is the potential for the network to grow too quickly, leading to the issuance of all coins before the network is mature enough to generate enough demand to reward network contributors. This could result in the network receding due to a lack of demand to support the issued coins.

Another risk is the possibility of the network growing too slowly, which could also lead to the issuance of all coins before the network reaches the minimum coverage needed to sustain demand. This could negatively impact the rewards for individual nodes, making it difficult for them to justify their participation in the network.

Additionally, the Nodle Network is considered a high-risk investment due to its price volatility and potential for manipulation. The proprietary scoring system used by InvestorsObserver gauges the risk by analyzing the amount of money required to shift the price over a 24-hour period, along with changes in volume and market capitalization. This system assigns a high risk score to Nodle, indicating that it may be easily manipulated by limited trading activity.

Furthermore, the Nodle Network's reliance on its token to incentivize participants and facilitate transactions also poses risks. If the token's value does not increase or stabilize, it may not be able to effectively reward contributors or sustain the network's growth.

Lastly, the security of the Nodle app wallet is also a concern. While the wallet can be secured with a pin and seed phrase, the risk of physical phone theft and unauthorized access remains. This highlights the importance of users taking proper security measures to protect their assets.

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Did Nodle Network raise funds?

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Nodle Network’s team

  • Micha Anthenor Benoliel: Co-Founder & CEO at Nodle, responsible for leading the overall strategy and direction of the project.
  • Garrett Kinsman: Co-Founder, involved in key decisions and contributing to the development of Nodle's innovative solutions, such as Click.
  • Other Team Members: The Nodle team consists of 40 experts in cryptography, finance, operations, blockchain, wireless protocols, and other relevant fields, ensuring a diverse and skilled group driving the project forward.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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