IoT network Nodle is participating in a crowdloan auction by Polkadot to obtain a newly released parachain. The relay chain network hopes this will lead to sustainable progress in the acceleration and interoperability of its services.
Nodle: Networking billions of IoT devices
Nodle is an Internet of Things (IoT) network that gives billions of IoT-enabled devices access to secure, affordable, and stable data connections. Founded in 2017, it is now one of the largest wireless networks in the world due to its many base stations. The Polkadot-based system feeds off millions of Bluetooth smartphones that are paid for their operational services with Nodle cash. To this end, the Nodle infrastructure provides its users with powerful protocols that allow them to perform a variety of operations simultaneously. For example, Nodle enables customers to keep track of their assets, collect sensor-based information and ensure validation of access authorizations. This technology is used primarily in the financial sector, smart factories and smart cities, as well as in the entertainment industry.
Polkadot: Blockchains in the Blockchain
With the Polkadot protocol technology, users are able to network multiple blockchains and exchange data. Polkadot plans to implement up to 100 so-called parachains in its structure, secure them and create bridges to larger networks, such as that of Bitcoin and Etherum. These parachains can be adapted very individually to the respective developer requirements or customer needs. It is also possible to divide them into private or publicly accessible blockchains.
Parachains: for the democratization of the Internet
The goal is to create decentralized networks that shift control on the Internet back to individuals, instead of further encouraging an increasing monopolization of the network by large corporations. To that end, this system offers a solution to a widespread problem with chain technology. Because many blockchain applications are often discontinued due to limited resources and too few employees, the operability and security of entire systems is at risk. Polkadot aims to counter this with its ability to sublease (crowdloan) blockchains. Anyone interested in taking over a parachain can bid on it in auctions. Smaller projects thus also get the opportunity to implement their visions in the blockchain ecosystem, at a fraction of the cost.
Nodle-Polkadot: next generation connectivity.
Nodle expects the hoped-for additional capacity in gaining a parachain in the auction to be a major technical advancement in expanding its current services. For example, it expects to significantly improve its performance in establishing network connectivity, financial transactions between machines, tracking of digital and analog goods, environmental monitoring, and increased security infrastructure.
In the long term, Polkadot parachains are expected to hold the potential to further advance Web 3.0 and blockchain technology. In cooperation with other developers of the system, Nodle is already planning to push existing product boundaries and develop innovative services that could permanently change existing structures. Under discussion are further developments of decentralized solutions in intelligent contract management, DEX exchanges, network bridges and authentication systems.