Nodle, one of the world’s largest ecosystems of connected devices, enters into Polkadot’s inaugural parachain slot auction and crowdloan.
Nodle brings infrastructure, software, and data access to the Internet of Things (IoTs) using Bluetooth Low Energy (BLE) on existing smartphones.
Polkadot is a blockchain ecosystem that recently opened for developers to register their projects on their parachains, enabling access to its strong native userbase and interoperability with other blockchains—like Ethereum.
Nodle CEO and Founder Micha Benoliel, said:
“Nodle is making its Decentralized Wireless (DeWi) network and apps composable with many services from other chains, and having a parachain will provide us with a way to make this interoperability a reality. Nodle conducted interoperability tests with other parachains, like the Acala Network, earlier this year so we understand the power of this opportunity. Achieving a Polkadot parachain represents the expansion of our Web 3.0 ambitions and will accelerate how the Nodle network interacts with the entire Polkadot blockchain ecosystem.”
What Nodle Does?
Nodle is a decentralized IoT (Internet of Things) network on Polkadot providing secure, low-cost connectivity, and data liquidity to connect billions of IoT devices worldwide. The Nodle network is powered by millions of Bluetooth-enabled smartphones that earn Nodle Cash (NODL).
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Nodle’s powerful IoT stack allows multiple uses including connecting and securing physical assets, tracking lost or valuable items, capturing sensor data, and authenticating security certificates.
Nodle provides insights for consumer electronics manufacturers, enterprises, smart cities, the finance industry and more. Since its creation in 2017, Nodle has become one of the world’s largest wireless networks by number of base stations.
Parachain To Supercharge Nodle’s IoT Capabilities
Nodle expects that achieving a parachain will dramatically empower its next-generation IoT capabilities around connectivity, machine-to-machine payments, air-quality monitoring, asset tracking, a way to authenticate and secure devices, and more.
This also should enable all other chain ecosystems which are interoperable with Polkadot to benefit from Nodle’s vast network—including the millions of nodes connecting to up to 30 million IoT devices and sensors every day.
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When anyone contributes to the Nodle parachain crowdloan by locking their Polkadot tokens (DOT), they will receive NODL rewards from an allocated pool of 850 million NODL — that’s 23% of the total Nodle reserves or 10% of Nodle Mainnet. After two years, all DOT contributions will be automatically returned to the contributors, in addition to the Nodle token (NODL) rewards they will earn.
Nodle Chief Blockchain Officer, Eliott Teissonniere, said:
“Nodle is thrilled to join the Polkadot parachain movement, which we believe is at the forefront of Web 3.0 and blockchain innovation. Our robust IoT network will join ranks with other systems for secure, symbiotic relationships. Nodle will supply its revolutionary decentralized network technology, while seeking new product frontiers, by building products with other parachain DeFi products like decentralized exchanges (DEXs), smart contract platforms, decentralized identity solutions, and bridges to other networks.”