It’s another bullish period in the crypto market, evident from Bitcoin’s surge and the performance of other coins like Ethereum, Cardano, and Solana.
While some are reaping profits, others are facing losses. The factors differentiating winners and losers in this market, just like any other market, include time in the market, technical analysis skills, and a lot of dumb, hard crypto luck. But having access to the right information is crucial, too. And that is what this article is about.
There has been some buzz online about a not-so-new crypto project called PKT Cash, and this article is all about exploring that project and seeing if there is something there.
PKT Cash
PKT Cash calls itself the future of internet access, which is a really bold tagline to go with. But that is common in the crypto market. Everyone is optimistic about their projects — even the bad ones.
The project began way back in 2019 which means, at the very least, that the founders of it were in crypto before the massive bull run that put the entire industry on the mainstream (and attracted quite a few degens).
The PKT network is a decentralized web ecosystem that helps users connect to the traditional internet and allows them to explore it with all the benefits of a decentralized system. The network can do this through the world’s only bandwidth-based proof-of-work system. This means that the network will incentivize users to scale and support the decentralized network without ceding control to any centralized server or database.
This is obviously technically dense, but in layman’s terms, it means that PKT is a network that allows users to contribute bandwidth to the main network and rewards them with the PKT asset. This allows users to connect with the web without having to rely on any centralized network. Most crypto projects try to decentralize the banking and contracts, but PKT plans to build a decentralized internet where data and access cannot be controlled by a single entity.
Right now, PKT has 13,211 network users and they all use about 13 GB of bandwidth. That is obviously not enough for a project that calls itself the future of internet access, but in a way that is the point. PKT is an infrastructure for the future, and the structure of its tokens proves that. PKT has a 6 billion coin supply and two billion of those coins were mined in the first two years of mainnet. The next 4 billion coins will be mined in the next 61 years, so the future for PKT is still pretty far away. In a way, everyone else is still really early.
The Decentralized Internet
Like in all decentralized networks, the contributors to the PKT bandwidth pool do so to earn PKT cash. Their contributions are validated by the world’s first bandwidth-based proof-of-work system. This incentivizes members of the community to contribute bandwidth and guarantees unlimited scalability. The network can be as large as possible as long as there are enough nodes contributing bandwidth to it. Of course, the bigger the network the higher the value of the assets being mined in return for bandwidth,
What this creates is an actual decentralized web infrastructure that is peerless, secure, permissionless, and very fast.
Website Hosting
The PKT infrastructure will power the PKT lightening network which allows websites to use an IPv6 web URL as a PKT address for payments. This means that the websites will also serve as accounts, which makes it easy for users to process payments online without requiring a different centralized payment processor. The websites built on the network will be reachable from any web browser through a reverse VPN, and there will be almost zero gas fees while the network’s payment rails are used.
The payment rails will have near zero fees, be scalable, be entirely peer-to-peer and will be a fork of Bitcoin’s Layer-2 Lightening network.
Once the PKT lightning network is launched, there is an expectation that the network will support an infinite number of transactions per second. In fact, the only limit will be the network’s bandwidth which will only grow as the value of inter-platform payments grows. So PKT is not just revolutionizing the web, it is also revolutionizing the way payments are processed online.
Cjdns peer-to-peer Mesh Network
The entire infrastructure is powered by Cjdns peer–to–peer mesh networking. This means that nodes (the providers of the bandwidth, which is the expressway the network flows through) automatically discover and connect with their neighbors, creating a dynamic and self-configuring network that can be accessed through internet browsers.
Hyperboria is a decentralized mesh network, facilitated by the cjdns protocol, wherein each node is distinguished by a unique IPv6 address derived from its public key. This innovative framework engenders an open, secure, and user-governed internet ecosystem, effectively addressing concerns surrounding centralization, censorship, and online privacy. By leveraging mesh networking principles, Hyperboria fosters a resilient, democratic, and peer-to-peer infrastructure that circumvents traditional ISPs and centralized control.
Additionally, PKT Network exemplifies the practical implementation of mesh networking on a global scale, harnessing cjdns to expand decentralized infrastructure and the decentralized web. Through automatic node discovery and connectivity, PKT Network engenders a dynamic and self-configuring network accessible via internet browsers or exclusively peer-to-peer through Hyperboria. This pioneering approach underscores the transformative potential of mesh networking in redefining the landscape of digital connectivity and autonomy.
How To Get Started With PKT?
PKT Network operates on the principle of permissionlessness, meaning anyone can contribute to its development. To kickstart your journey, consider two key avenues: mining PacketCrypt or installing a cjdns node. These foundational efforts form the backbone of the PKT Network, laying the groundwork for its decentralized infrastructure.
Installing a cjdns Node
By installing cjdns, you’re not just joining a network – you’re contributing core physical infrastructure to the VPN-based PKT Network. This simple step is instrumental in expanding the network’s reach and resilience, ensuring its continued growth and functionality.
PKT Mining:
Mining PKT can be done from any computer, making it accessible to enthusiasts of all skill levels. The PKT World wallet even comes equipped with a built-in miner, simplifying the process for newcomers. For those seeking a more collaborative approach, mining pools offer opportunities for pooled resources and collective success.
PKT FullNode:
Every PKT FullNode plays a vital role in the network, validating blockchain blocks and facilitating seamless transactions for PKT wallets. By running a FullNode, users become an integral part of the network’s infrastructure, contributing to its security and efficiency.
PKT Lightning Network:
The PKT Lightning Network boosts transactional speed and portability within the PKT ecosystem. It facilitates instant microtransactions, reduces costs, and enhances privacy, propelling PKT towards a future of seamless peer-to-peer transactions.
Is PKT Cash The Next New Thing?
PKT is not some meme coin that will live off Twitter hype and do maybe 10x in a week, and then lose all that value after a Twitter-inspired rug pull. It is an extremely ambitious long-term project that has seen decent growth over the last five years.
Will PKT Cash be the next big thing in crypto? It is really hard to tell. What is not hard to say is that the project is currently extremely discounted given its scope, ambition, and frankly the stage it is in.
Today, PKT’s road map clearly shows that the project is on the right path and will soon be scaling. That means there is probably no better time than today to buy into the project. The fun thing is that PKT’s development is only marginally affected by Bull or Bear runs. The network will continue to develop and when mainstream attention comes, it will probably see 30x or even 50x projected gains – and that is just for the short term. The asset is currently worth $0.0026. In the next few months as the changes the team proposes (including the lightning network) come into play, it would not be so shocking to see PKT Cash hit at least $0.02. But even if the asset does not, it is still clearly discounted so it will see major appreciation in the future.
So, should you buy PKT? It is an interesting asset powering an exciting network and the first of its kind, so yes you probably should. But as you know, this is not financial advice, so you are more than welcome to do your research and check whether you should buy PKT.
Read Also: Empowering Communities: The Social Impact of DePIN
