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What Is PKT Network (PKT)?
PKT Network(PKT) is a decentralized physical infrastructure (DePIN) ecosystem supporting open internet access & powering the decentralized web. PKT claims to be the world’s first bandwidth-hard blockchain and a decentralized internet service provider (ISP). PKT leverages the open-source mesh networking protocol called cjdns to optimize traffic routing and offer free VPN. PKT enables network users to share access to the internet and monetize their unused bandwidth.
PKT blockchain is based on Bitcoin’s codebase, but substitutes Bitcoin’s SHA-256 hashing algorithm with PacketCrypt, the first ever bandwidth-hard proof-of-work. PKT blockchain was created to economically incentivize nodes to become PKT network’s internet service providers.
Together with its native mined coin PKT Cash, the project aims to demonopolize the global information space and allow users to access internet data with no restrictions from centralized intermediaries.
Serving as a reward for users who provide bandwidth for other nodes in the network, PKT Cash can be used to get VPN through Anode VPN, PKT's VPN marketplace, and subsequently to pay internet utility bills through PKT pal, PKT's bill pay service.
PacketCrypt and the PKT blockchain were both launched in August 2019. PKT coin went live in March 2022.
Who Are the Founders of PKT Network?
PKT Network’s lead developer is Caleb James DeLisle, who is experienced in security analysis, cryptography, software development and internet routing. In 2011, Caleb started the cjdns project — the basis for the PKT Network. He is also the creator of CryptPad, a web-based real-time collaborative editing platform founded in 2014. Caleb graduated from the Franklin County Technical School with a degree in machine technology.
What Makes PKT Network Unique?
PKT Network enables internet access without the use of traditional ISPs. Replacing centralized intermediaries with a peer-to-peer network of providers has the potential to solve the problem of internet surveillance and data collection from corporations, application developers and governments, according to the project.
Cjdns creates an encrypted IPv6 network using public-key cryptography for address allocation and a distributed hash table for routing. It is therefore able to provide near-zero-configuration networking, and solve multiple security and scalability issues that the current design of the internet faces.
PKT is a high-speed data network that enables internet users to monetize their unused bandwidth. For every 60 seconds of maintaining connectivity, a user gets paid PKT Cash.
PKT operates in an entirely decentralized manner, powered only by the source technology and the economic incentive, according to the project.
The project claims that PKT Network is currently the fastest distributed edge network, offering over 100 gbps of bandwidth.
Network Steward is an address in the PKT Network that receives 20% of the PKT Cash from each newly mined block. It serves to support further development of the ecosystem in a way that serves the interests of every participant in the network. The Network Steward is democratically elected by the PKT holders via proof-of-stake vote and can be changed at any time.
How Many PKT Coins Are There in Circulation?
One PKT Cash coin is minted every 60 seconds.
The total of 6 billion coins will be minted over the next 63 years. Every 100 days, PKT conducts the decimation, reducing the block reward by 10%. The PKT coin circulating supply is currently at 3.3 billion PKT.
How Is the PKT Network Secured?
PKT has developed the first bandwidth-hard proof-of-work consensus mechanism called PacketCrypt. Instead of employing SHA-256 hashing function, PacketCrypt requests bandwidth to be expended in lieu of CPU effort.
The live PKT price today is $0.003930 USD with a 24-hour trading volume of $117,920 USD. We update our PKT to USD price in real-time. PKT is down 3.47% in the last 24 hours. The current CoinMarketCap ranking is #995, with a live market cap of $13,158,126 USD. It has a circulating supply of 3,347,942,066 PKT coins and the max. supply is not available.
If you would like to know where to buy PKT at the current rate, the top cryptocurrency exchanges for trading in PKT stock are currently BitMart, and MEXC. You can find others listed on our crypto exchanges page.