What is the current price of NKN (NKN)?

The current price of NKN (NKN) is 0.052645898350150926 AUD, representing a +7.55 from the day prior.

Can I buy NKN (NKN) on Coinstash?

Yes - you can easily buy and sell NKN (NKN) on Coinstash. Simply login or sign up, to start buying NKN (NKN) in minutes.

Where is the best place to buy NKN (NKN) in Australia?

The best place to buy NKN (NKN) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell NKN (NKN) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.

What is the daily trading volume of NKN (NKN)?

The trading volume of NKN (NKN) is 61.4M AUD in the last 24hrs, representing a +7.55 from the day prior.

How can I buy NKN (NKN)?

NKN (NKN) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.

What is the market cap of NKN (NKN)?

The current market cap of NKN (NKN) is 41.2M AUD.

Can I convert NKN (NKN) to cash?

Yes - With Coinstash you can convert your NKN (NKN) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.

How many NKN (NKN) are there?

The current circulating supply of NKN (NKN) is 786.7M.

Is Coinstash a safe place to buy NKN (NKN) in Australia?

Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling NKN (NKN) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices here.

Buy NKN

What is NKN?

NKN, which stands for New Kind of Network, is a cryptocurrency designed to power a decentralized internet infrastructure. It leverages a novel public blockchain combined with economic incentives to encourage users to share their network connectivity and unused bandwidth. This approach aims to create a more secure, efficient, and open internet.

How does NKN work?

NKN operates on its unique consensus mechanism called Proof of Relay (PoR). This system rewards users, or miners, for relaying useful data over the network, rather than the computational work used in traditional Proof of Work (PoW). The network utilises a combination of Cellular Automata theory and a lattice system to dynamically adjust the distribution of data and connectivity. Additionally, NKN employs a MOCA consensus algorithm that supports scalability by allowing a vast number of consensus nodes, and uses a proximity routing algorithm to ensure data transmission is optimised through the fastest possible routes.

What are the potential use cases for NKN?

NKN presents several use cases across different fields:

Decentralized Communication: Enables secure messaging and secure remote access to personal data through applications like nMobile and nConnect.
IoT Connectivity: Provides a decentralized network solution for IoT devices, enhancing their security and connectivity.
Distributed Cloud Storage: Offers secure and decentralized cloud storage solutions.
Decentralized Applications (dApps): Facilitates the development of dApps through an accessible networking toolkit.
Edge Computing and 5G Telecommunications: Supports initiatives in edge computing and helps meet the demands of 5G services by partnering with companies like iQiyi and China Mobile.

What is the history of NKN?

NKN was founded in 2017 by Yanbo Li, Yilun Zhang, and Zheng "Bruce" Li, and conducted its Initial Coin Offering (ICO) in April 2018, raising approximately $12 million. The mainnet was launched in July 2019, which was a critical milestone in its development. Over its history, NKN has formed significant partnerships, including collaborations with iQiyi for edge computing, and engagements with China Mobile to implement decentralized networking solutions for 5G. The network has grown to become one of the largest blockchain networks globally with a substantial number of nodes, surpassing 113,000 worldwide. This development underscores its ambitious goal to decentralize internet infrastructure and addresses issues like centralization, scalability challenges, and security concerns.