Nodle Network, an IOTA (MIOTA) competitor, is in the process of transferring from Stellar (XLM) to its blockchain network with the announcement of the Arcadia testnet.
Nodle is a decentralized network provider that specializes in identifying and connecting the IoT (internet of things). It recently connects over five million active nodes, with over 92 million detected devices.
While Stellar has been capable of handling Nodle’s massive traffic of 1.3 million daily transactions to date, the company thinks it requires using its blockchain to accommodate some of the excellent characteristics envisioned in its whitepaper.
Nodle’s blockchain architect, Eliott Teissonniere, understands that interoperability is the answer to the future prosperity of its Arcadia blockchain. It is being developed on the Parity Substrate framework and applies modular design with an eye on becoming Polkadot’s parachain. Parachains are specific blockchains that make up the Polkadot network.
Nodle Cash — betting on the future
Nodle Network participants receive Nodle Cash. Regrettably, the cryptocurrency is not listed on exchanges and doesn’t have any monetary value as yet. Teissonniere said in a statement:
“It’s a bet on the future. And essentially, they’re going to be able to use it in a few weeks to interact. We are working on giving users a way to use it. For example, we will soon launch a customer interface where they will be able to set up webhooks to connect their own devices.”
Nodle, co-founder and CEO, Micha Benoliel, revealed they aspired to “create enough demand and have the ecosystem sufficiently mature before we list it.”
He also remarked that the company has been capable of achieving “presence on almost 20 million monthly smartphones” by allowing app developers Nodle Cash as compensation.
Nodle vs. IOTA
Benoliel understands that Nodle is a “great alternative” to IOTA and that his company’s strengths are its strong use cases and interoperability. Although Teissonniere is unwilling to name the exact date for the release of the mainnet, he anticipates deployment in about six months. IOTA, still healing from a significant hack, may grant Nodle with an opportunity to carve out a pleasant chunk of the IoT blockchain market.
Stay informed with daily updates from Blockchain Magazine on Google News. Click here to follow us and mark as favorite: [Blockchain Magazine on Google News].
Disclaimer: Any post shared by a third-party agency are sponsored and Blockchain Magazine has no views on any such posts. The views and opinions expressed in this post are those of the clients and do not necessarily reflect the official policy or position of Blockchain Magazine. The information provided in this post is for informational purposes only and should not be considered as financial, investment, or professional advice. Blockchain Magazine does not endorse or promote any specific products, services, or companies mentioned in this posts. Readers are encouraged to conduct their own research and consult with a qualified professional before making any financial decisions.
About the Author: Editor's Desk
