Cryptos

How to create a global network of people and organizations from scratch using chickens and eggs?

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To commemorate the moment when Bitcoin reached a market capital of $ 1,000 billion earlier this year, the data-centric website Visual Capitalist Compare. He looked at the time it took for tech stocks to achieve their $ 1,000 billion valuations against BTC.

This analysis is very interesting as it shows the impact of technology over the time it takes to reach $ 1,000 billion in market capital. Apple and Microsoft, the pioneers in pre-Internet technology, had to wait over four decades for their $ 1,000 billion valuation. The internet has cut down on the time it took for dot-com baby Amazon and Google to reach their valuations of $ 1000 billion.

Blockchain has made Bitcoin’s $ 1 Trillion market capitalization return half as fast – only twelve years after it was first introduced.

Reach is what matters

This rapid adoption is not due solely to the technology. These two major developments, the internet and the Blockchain, have wide scope. Technology companies have been able to reach an exponentially larger audience through the internet connectivity. Blockchain’s innovative business model and the emergence of blockchain have created a new way for users of technology to interact with and contribute to the network’s value.

The unique properties of blockchain are being used by these projects to scale large networks across the globe. The creators of Nodle started with the idea of ​​a mesh network powered by smartphones. After experimenting with their first prototypes in 2016, the Nodle founders decided to build their network on blockchain. They believed that decentralization was the key for massive growth and scalability.

Fast forward to 2021 and Nodle has become the largest decentralized wireless networking network in the world. It works by using the Bluetooth Low Energy connectivity feature in smartphones. Download the Nodle cash app to get the app. It acts as a Nodle node on your wireless network.

The network is intended for IoT devices and supports the infrastructure required to power them. More than 30 Billion Connected “things” by 2025. The idea is that a Nodle-compatible smartphone can act as an information relay for a connected device when it enters its range. This means that IoT devices are able to be deployed even where there is no WiFi, cellular service or cellular network.

Encourage participation

It is a great idea for companies that want to scale up IoT devices. One global beverage distributor used Nodle to track hundreds of displays in the United States and Paris to drive IoT-enabled interactive street furniture.

But why would a user sign up? The Nodle team chose to build its network on blockchain because it is the best way to do this. Users can earn instant rewards by downloading the Nodle cash app and participating in Nodle as smartphone nodes.

Nodle SDK can also be integrated into applications by developers. The terms are agreed to by users when they download the app. This allows the developer to generate Nodle rewards based on user activity while the user is using an ad-free app.

Nodle’s incentive program has allowed it to rapidly expand its user base ever since its inception in 2017. The network had nearly 29,000 connected devices and 5.8 million nodes by the end of the second half 2020. He estimates that there are roughly 550,000 unique active nodes at any time and that he is growing 38% each year.

The project will soon launch a “smart missions” feature that will promote user engagement and offer even more rewards for performing specific tasks activated by smart contracts. The network’s growing value is also indicated by partnerships with Cisco Meraki, DeFi Acala and other platforms.

Building a network and expanding its reach is one of the most difficult parts of executing a great idea. Bitcoin was the proof-of-concept, but the next generation projects will seek to reach a wider global audience through blockchain economic participation opportunities.

Image: The Nodle Team presents at TechCrunch Disrupt Berlin 2019

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