Nodle, a decentralized network on Polkadot that provides secure, low-cost connectivity and data liquidity to connect billions of devices worldwide, announced today it has reached half a million token holders (per Subscan, as of August 1, 2022), bringing the project closer to the mission of empowering people to build the first smartphone-powered decentralized network.
Having a mobile-first approach reduces the barrier to entry for users and allows anyone to quickly join the network as an antenna or “node” with no additional equipment or prior knowledge. Bringing web3 to the physical world, Nodle leverages smartphones to read sensors and devices that exist materially.
The location of the device is only used to compute rewards based on contribution to network coverage and to locate Bluetooth devices at the request of their owners. The “nodes” (smartphones) are rewarded for providing network availability and connectivity. Building an ecosystem anyone can join with a resource they already own (their smartphones) is the key to Nodle’s commitment to inclusion and accessibility.
“The Nodle Network is experiencing a first-mover advantage in terms of blockchain and mobile devices, as many web3 companies have yet to develop and launch a native app. In time, this will be like a company going to market without a website — practically unthinkable today.”
– The Nodle Team
Nodle is powered by mobile phones that earn NODL for providing network availability and connectivity. Users connect and secure physical assets, track lost or valuable items, capture sensor data, authenticate security certificates, and more. This data provides insights for consumer electronics manufacturers, enterprises, smart cities, the finance industry, and more.
For more information on the Nodle economy, see Nodle’s tokenomics documentation.