People often ask us, what is different about NKN compared to other projects in the networking space. Some projects are entirely focusing on mobile phones and using Wi-Fi, Bluetooth, and Wi-Fi Direct. NKN intend to change the entire Internet, including fixed and mobile, phones, laptops, edge and core network. NKN is a protocol overlay that is independent of the underlying physical communication media, and transparent to applications.
In addition, most networking projects are based on Ethereum, ERC-20 tokens and smart contracts. We are not sure if Ethereum will be scalable for millions or billions of nodes, and petabytes of traffic. NKN will have its own blockchain technology that will have fundamentally new Proof of Relay and new consensus algorithms that will be newly developed specifically for tokenizing the network transmission capabilities.
Compared to some projects, NKN have a much broader scope. We want to tokenize networking like what IPFS did to storage. Our target is the 1 trillion dollar communications business, and how we can provide better connectivity to everyone by incentivize the sharing of unused networking resources, expanding and upgrading the sharing network.