The New Kind of Network (NKN) and META 1 are projects with lots of potential in the market. These networks share some similarities. For example, they both leverage purpose-built blockchains to provide users with a secure and transparent experience. Here’s what you need to know when comparing the New Kind of Network (NKN) vs META 1 Coin.
What is the New Kind of Network (NKN)?
The New Kind of Network entered service in 2018 with the goal to provide a decentralized way to share network bandwidth and internet connectivity. The protocol introduces a proprietary interface that enables developers to build on their concepts and create smaller sub-networks.
The mobile design of the New Kind of Network has helped it to see major adoption. Currently, the platform hosts one of the largest PoW networks in the world. There are over +73,000 active nodes across 71 countries. As such, the network operates as an established blockchain.
What is META 1 Coin?
The META 1 Coin is a critical component of the METANOMIC ecosystem. This independent financial system was built from the ground up as an alternative to the status quo. Everything about the platform reflects the desire to free users from the centralized financial system. For example, the network resides outside the jurisdiction of major powers.
The META 1 Coin provides a stable currency for the rest of the operations of the network. There is a high yield savings account that provides low-risk rewards. META 1 Coin holders can stake and trade their tokens for other cryptos on the META Exchange and much more
What Problems was the New Kind of Network (NKN) Built to Alleviate?
When sending data across a network, centralized systems suffer from last-mile issues. This term is used to describe the degradation of a signal as it gets further from its source. For today’s data-heavy networks, this is a serious concern. The unique technical structure of the New Kind of Network (NKN) makes it work in the opposite way. The more users, the stronger the signal becomes.
The network employs features such as proximity routing to speed up data transmission. This strategy allows nodes and clients to utilize an aggregated speed of multiple routes to improve network responsiveness. This strategy, coupled with the network’s end-to-end and hop-by-hop encryption without Public Key Infrastructure makes it very secure.
What Problems was META 1 Coin Built to Alleviate?
META 1 is on a quest to provide the average person with a more reliable, secure, and fairer financial system. The platform is all about empowering regular investors to achieve their goals. META 1 alleviates many of the biggest problems such as centralization and customer abuse.
The network introduces the world’s first self appreciating stablecoin as part of this approach. Unlike its predecessors, the META 1 Coin derives value from a basket of gold-related assets. This strategy enables it to appreciate over time.
Additionally, the token can be staked. Staking is one of the easiest ways for users to earn rewards. Unlike trading that requires a lot of research, your staking rewards are based on the amount you stake and not trading skills.
How Does the New Kind of Network (NKN) Work?
The New Kind of Network is an open-source blockchain that combines a mobile programming interface with developer tools and more to improve efficiency. The network helps developers to reduce complexity and costs while improving productivity.
New Kind of Network leverages a protocol known as nConnect to provide users with secure remote access to their data and applications. These networks are built to secure both private data and personal files but still enable global access when needed. Users can unlock their data using the NKN address which can also double as a global ID.
The dataride feature of the network is where programmers can find a host of helpful information, tips, and already built modules. Developers can use these tools for free to expand on the NKN network. This simplifies the entire process which enables creators to make more advanced and robust networks and apps.
How Does META 1 Coin Work?
The META 1 Coin begins with an open and transparent blockchain. The META blockchain was built to provide high scalability to support the expansive network’s features. This system is capable of handling transaction throughput on par with the NASDAQ exchange and other world-renown networks. This tps rate was necessary as META 1 seeks to replace the current financial system.
META 1 users can still seamlessly interact with the centralized financial system via an intuitive VISA debit card. This card converts your crypto to fiat at the time of purchase. Since the exchange happens at the PoS, there is never any delay or requirement for your vendor to accept crypto. You can go anywhere that accepts VISA.
New Kind of Network (NKN) vs META 1 Coin
The New Kind of Network serves a valuable role in streamlining the creation of new blockchains and META 1 is all about freeing humanity from the shackles of the centralized financial system. Both of these projects have carved out their niche well in the market. In the future, there is a possibility that an NKN-powered blockchain interacts with META 1 Dapps. For now, both of these platforms are interesting projects worth further investigation.