Rapidly developing technologies that fulfill exceptional speed and bandwidth requirements are always on the increase. The networks of the future or Private Communication Networks (PCNs) will determine how we will be functioning in a hyperconnected world where people, devices and data work in an orchestrated world driving efficiencies and productivity. From smart cities, Industry 4.0 to smart watches & smart billboards, this is a world we are getting ready to live, interact and function in a million ways. In such a scenario, Nitro Network’s Private Communication Network infrastructure will allow for the most efficient use of existing available bandwidth.
While public networks provide some necessary features for regular tasks, if you are looking to manage critical communications that require reliability, PCN is going to be the key. Data delivery performance backed by speed and bandwidth is critical for all major sectors that are in communications technology.
That’s precisely what Nitro Network is building – a decentralized telecom private communication network, powered by IoT, supported by LoRaWAN, 3g, 4G and 5G. The very fact that Nitro’s decentralized network is built on a blockchain unlocks the freedom for participants on the network to own, monetize and grow as the network grows.
Nitro will produce real-time industrial communications that may be utilized to improve vital connectivity and increase operational safety, security, and effectiveness. After all, these essential services are important from a safety standard point of view which are crucial in saving lives, therefore every part of a sensitive network architecture is crucial.
Enter the Web3 zone:
The rise of Web3 and the surging adoption of Internet of Things (IoT) devices has resulted in the development of a new range of cost-effective mining protocols that use low-power network technologies. LPWAN and LoRaWAN, for example, are designed to transmit low-bit-rate data over long distances.
There are very few companies who have established themselves in the IoT mining field in recent years, with projects such as Helium (HNT) and Nitro Network (NCASH) creating LoRaWAN-based networks that send data in return for the native HNT and NCASH coins.
The rise of Web3 and the rising presence of IoT devices has resulted in the development of a new class of low-cost mining protocols that use low-power network technologies. LoRaWAN, for example, is designed to transport low-bit-rate data across great distances.
Gaining comprehensive coverage is critical to the network’s overall health and long-term existence. Making it simple for interested parties to access mining equipment contributes to a faster pace of expansion.
Digital Mining from Nitro
One of the many challenges faced by the likes of Helium are shipping delays (of miners), operational costs, installation and setting up of the miners, which has created a lot of impatience and a certain dilution of expectations and trust from the people who have bought the Helium miners. Moreover, people have also run into problems while setting up, bad coverage and network congestion. This has led to buyers contemplating returning their miners or hoping for a viable alternative.
Nitro Network was quick to adapt from Helium’s experiences and it came up with a brilliant concept to overcome the above mentioned roadblocks – Digital mining via N-F-Ms (Non Fungible Miners).
So what do Nitro NFMs do? They are DeFi, crypto mining and NFTs rolled into one and unlock rewards on Nitro’s decentralized PCN. Nitro NFTs are NFMs with utility and are also unique collectibles (based on the Nitro bot theme they are absolutely cool to own!). As miners mine away on the Nitro Network with their NFMs it unlocks millions of use cases for NCash, Nitro’s proprietary token!
With a bird-eye view of the massive demand in the IOT landscape powered by the emerging market of 5G, Nitro’s macro setup with a micro outreach has managed to overpower the current challenges faced by its competitors like Helium.
Enter Nitro Nesting:
To this dynamic digital ecosystem, Nitro has added Nesters (people who host the network and validate it) built on a 1:1 grid concept (1 Nester in 1 km location. The Nitro platform creates the ideal nester miner match and you have a network that literally builds itself while rewards the participants!
Nesters are location-based and are divided into Tiers based on population, infrastructure, usage etc.- Tier 1 (Iconic), Tier 2 (Premium), Tier 3 (Top).
With digital mining Nitro has enabled a happy synergy of Nesters and Miners and solved the two major problems which Helium faces in one go: 1) Network congestion 2) Inequitable distribution of rewards.
On the other hand, if you are either a Nester or Miner or both on Nitro, you win!
Nitro Miners operate together to provide network coverage of up to six kilometers. They can produce a network coverage area of 240 km if they are strategically positioned (80 devices x 3 KM range of each device).
The future is PCNs and Nitro is leading the game:
The telecom industry is about to change for good and Nitro is set to steer this future by collaborating with like-minded visionaries.
For traditional telecom leaders like Vodafone and AT&T, adoption will be the key.
As Nitro begins to establish itself as a credible participant in the decentralized space, it is simultaneously gaining momentum by piquing interest of businesses and enterprises who are a massive community increasingly aware of the progressive growth and trust of the Nitro community which is enabling one-of-a-kind win-win environment for everyone on Nitro network.