fbpx

Nodle Wins Polkadot Parachain to Advance Decentralized Wireless Network

With 320,000 mobile downloads and moving over two billion data payloads per day, the project secured the 11th parachain slot with $42M worth of DOTs committed to their crowdloan

Nodle, one of the world’s largest decentralized wireless networks that is powered by Bluetooth Low Energy (BLE) on smartphones, today announced they won the 11th Polkadot parachain slot auction. Nodle leveraged their community and achieved this milestone on March 10th with 7,528 contributions equaling 2.48M DOTs—worth over $42M. Nodle provides their decentralized decentralized wirelss network infrastructure from users’ smartphones via the Nodle Cash App. Polkadot’s blockchain ecosystem recently opened for developers to register their projects as parachains, enabling access to its strong native userbase and interoperability with other blockchains like Ethereum, or its own ecosystem networks. This new parachain allows Nodle’s token (NODL) to be interoperable with other decentralized applications built on top of Polkadot or other blockchains that connect and benefit from Polkadot’s shared security principles. Acquiring a parachain slot dramatically empowers Nodle’s next-generation capabilities including connectivity, machine-to-machine payments, air-quality monitoring, authenticating and securing devices, asset tracking, and more. Nodle’s parachain also enables all other chain ecosystems that are interoperable with Polkadot to benefit from Nodle’s incredibly adaptable and expansive network.

“Having a parachain for Nodle, which offers real world applications to the Polkadot ecosystem, accelerates our network towards even more decentralization and security,” said Nodle CEO and Founder Micha Benoliel. “This makes NODL tokens instantly liquid and usable across all other parachains, dramatically expanding our decentralized wireless network vision. Now, our users not only benefit from Nodle Cash App’s utility, but can interact with decentralized exchanges, money markets, and other DeFi ecosystems.”

Nodle allocated 850 million NODL — 23% of the total Nodle reserves or 10% of Nodle Mainnet—to reward anyone who pledged their DOTs. After 96 weeks, all DOT contributions will be automatically returned to the contributors, in addition to the Nodle token (NODL) rewards they will earn. The company will also reward the highest contributors unique, Matrix-inspired NFTs created by a mystery artist.

“The Nodle parachain allows advanced interoperability and cross-chain integrations, which now permits any other parachain and DApps to seamlessly build on top of our network,” said Eliott Teissonniere, Nodle’s Chief Blockchain Officer. “These new functionalities come with an increased security and will be game changers for the Nodle network and the entire blockchain ecosystem.”

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

    You can always unsubscribe with just 1 click.

    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

    Rate This Article
    In order to improve, we give you the opportunity to rate DailyCoin content