ABOUT NODLE

 

Nodle’s Mission

Nodle’s mission is to build the largest wireless network on earth to connect the next trillion things

To realize this mission, Nodle has built the Nodle Network, Nodle Platform, the Nodle Chain and network effects that resulting from:

  • Network growth sustained by the Nodle token to attract more users of the Nodle Networking Stack through the Nodle Cash App and the Nodle SDK.

  • Demand for network services initiated by Nodle’s own offerings; e.g. the Nodle M1 Social Distancing Wearable, the Smart Asset API, and security certificates, along with any services built by Network Developers on top of the Nodle Chain and Platform.

Defensibility

The Nodle Network defensibility will be driven by the core functionality of this complete platform and its network effects.

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Nodle Ecosystem Definitions

  1. Nodle: Operating private company, inventor of the Nodle Network, and first Contributor, Developer, and Infrastructure Partner.

  2. IoT Devices & Data Sources: IoT Devices or Targets are any devices that can be connected to the Nodle Network through the resources available on the Contributors. Typically, IoT devices would embed a simple BLE chipset.

  3. Network Subscribers: Clients purchasing connectivity and services on the Nodle Network.

  4. Network Contributors: Users providing network connectivity to IoT devices accessing the Nodle Network; e.g. Smartphone owners using the Nodle Cash App share some of their bandwidth over Bluetooth Low Energy to connect nearby IoT devices App developers; smartphone OEMs using the Nodle SDK, and Contributors participating in the network with their own data.

  5. Network Developers: Technical users who develop applications on the Nodle Network.

  6. Infrastructure Partners (Block Validators): Entities running and maintaining a network component; e.g. a block validator node on the Nodle Chain.

  7. Data Oracles: Entities that validate data from IoT devices to trigger rewards to Network Contributors (Today managed by Nodle). See Expected Timeline for Decentralization.

  8. Network Validators: Validators constitute the backend of the Nodle Network. Together, they coordinate the work at the edge, settle the transaction on the Nodle Chain, and deliver the services to the subscribers. Since the mechanics of the Network are tightly tied to the economic incentivization they are all part of the same layer that forms the basis of the Nodle Chain.

  9. Mining: The activity of moving data from the edge nodes, as performed by the Network Contributors. In the white paper we describe how anyone with a smartphone can participate making Nodle Cash extremely democratized compared to other sorts of mining like Bitcoin.

Theory

  1. Historically, the data capacity of a given piece of wireless spectrum has doubled every 30 months, making way for civilization’s exponential demand for connectivity. This has been dubbed Cooper’s Law (Martin Cooper was the co-inventor or the Cellphone at Motorola). We believe that the growing demand for IoT connectivity, exponential advances in computing and spectral efficiency can be a powerful stabilizing factor for a cryptocurrency. Nodle Cash and the Nodle Network’s unique approach to connecting devices through a crowdsourced network represents a way to leverage and capture the value created by IoT.

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NODLE CASH AND FUNDING ROUNDS OVERVIEW

 

To realize that mission, Nodle counts on the Nodle Platform, the Nodle Chain, and on unlocking network effects.

  • Effective Circulating Supply: Approx. 55.5 Million

  • Effective Circulating Supply at the end of 2022: Maximum Approx. 134 Million

  • Ticker: NODL

  • Consensus: Proof of Stake (pending migration from Proof of Authority)

  • Coin Generation: Proof of Connectivity (Purpose-built, is a Proof of Work for the data transferred by IoT devices, it relies on Oracles for verifying the IoT data. In an upcoming release, devices will start to sign their own data removing the need for Oracles)

  • Governance: Liquid Democracy with Token Weighted Votes (Nodle will keep a supervisory council running as long as necessary)

NODLE TECHNOLOGY

 

Technical Overview

Nodle seeks to enable blockchain applications to directly interact with hardware at the physical layer of the blockchain stack.

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  • Layer 0 | Hardware & Networking: Nodle interfaces directly with the physical hardware of an IoT device, and in some cases provides reference firmware running on the IoT device. This gives the Network unprecedented access to the physical hardware (for example, sensors, memory, and compute functions). Network Connectivity is created by a crowdsourced network of millions of smartphones, which is made available to IoT devices through the Nodle Infrastructure. This layer represents significant computer and wireless networking resources.

  • Layer 1 | Consensus & Compute: The Nodle Blockchain provides the underlying layer and security for governance, reward allocation, payment, and root of trust, (in the case of the Nodle PKI [Public Key Infrastructure]). Permissions and controls are put in place to protect parties in the network from potentially malicious smart contracts. This layer interfaces with Nodle systems to coordinate the routing of data and reward allocation. Securing this layer are blockchain validator nodes, which today are run by Nodle, and will soon be opened up to third parties.

  • Layer 2 | Smart Contracts: Running atop the Nodle Chain are applications that may have access to lower levels of the networking stack. For example, sensors on an IoT device, radios on a smartphone, or billing services. Smart Contract support is expected to be deployed in the coming months. They enable what we call Smart Missions. A Smart Mission is an arbitrary task that a subset of Edge Nodes has been commissioned to perform; this could be upgrading the firmware of an IoT device by staying next to it for two minutes, locating a lost device in an uncovered area, and much more. Smart Missions can be created with their own logic code and reward mechanisms, as chosen by the developers. The current layer 2 applications like the Smart Asset API are operated using oracles; oracles are in charge of exposing IoT data to the chain’s components and smart contracts. Under the hood, we use a feature from Parity Substrate called offchain workers.

  • Layer 3 | Client & User Interface: The Final layer represents services that are opened up through web interfaces, APIs, and on-chain services. This represents core products built by Nodle; for example, the Nodle Cash App, Smart Asset APIs, the Coalition Enterprise Suite, and internal dashboard. Smart Contract support will enable third parties to build new applications atop the Nodle ecosystem. Today, these services are a combination of on-chain and off-chain infrastructure.

Proof of Connectivity

Today, Nodle Cash rewards are triggered by Data Oracles using statistical methods (See Plans for Further Decentralization). As IoT devices begin signing and encrypting their data, The Nodle Network can support a fully decentralized reward system.

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Reward Formula

Today that reward formula uses statistical methods to reward users and eliminate fraud (akin to how credit card companies fight fraud) The reward formula will evolve depending on the nature of the activity on the network. For security purposes, we do not disclose how we fight fraud, for as long as rewards are executed through an oracle.

When the oracle is replaced by a smart contract, the Nodle Cash reward (the “Reward”) will be a function of the volume and type of data packets sent the density of the Nodle Network, the latency of transmitted data, and a difficulty coefficient. To remove trust, IoT devices will sign their data transmissions to create a trustless validation and rewards. (See section on decentralization). Below are aspects of the reward formula that will be implemented as the infrastructure scales and decentralizes. We expect this formula to change and evolve as IoT devices begin signing their transmissions.

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The formula is based on the following components:

  • V = Value of packets transmitted through the Nodle Network: Packets that subscribers have paid for will have a higher value than packets created by background IoT devices. This value is calculated by the oracle and may depend on geography, types of data, and demand for data in a given geography. This can be done manually for now and will be done automatically in future updates. For internet access service, the Edge Node acts as a proxy and the volume of data transmitted is taken into account.

  • Lnd = Local node density: Represents the number of Nodle Contributors within a given geography. This acts as an incentive to deploy access points in areas with low network coverage.

  • Lc = Latency: Incentivizes contributors to deliver packets as quickly as possible. In areas where cellular data is expensive, Wi-Fi offloading may be used, but at a lower reward.

  • Dc = Difficulty coefficient: Increases the amount of effort required to earn one NODL. This will be based on time or the total number of access points.

NODLE TOKEN ECONOMICS

 

Breakdown of Mining Rewards and Revenue Shares

A Breakdown for Infrastructure Partners and more Precisely Block Validators

In exchange for validators running expensive server infrastructure, they earn Nodle Cash from two different sources:

  1. Mining Rewards

  2. Transaction Fees

Transaction Fees are derived from the following sources.

  • Mining Reward

  • Payments and micro-payments

  • Smart Contracts creation

  • Governance votes

  • Missing Accounts

These fees are shared evenly between validator nodes, Nodle, and Infrastructure Partners as a “Protocol Fee”.

Nodle Mining Protocol Fee is taken whenever data is transmitted on the network and a reward is triggered.

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Service Revenues result from applications like asset tracking or connectivity operating on the network. In the case of the Smart Asset API that enables the location of assets and connectivity for sensors Nodle is the author. We are planning to release Smart Contracts, services, and missions to enable third party applications to be built on top of the Network. e.g. Ride Sharing traffic, Population Density, Foot Traffic, Proof of Location, Messages & Notifications, an Alerts Network, IoT Devices Audits, etc.

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Expected Token Economic Timeline

Mining Timeline

Mining Rewards are expected to be inversely proportional to network demand, which for most wireless networks has historically grown exponentially over time. We expect 60% of the Nodle Cash that is unmined to be mined over the course of 7 to 10 Years. This depends on the mining formula evolution and may change if network demand is higher than expected and will depend on other wireless protocols leveraging Nodle economic model for deploying the infrastructure.

Service Revenue Share to Network Contributors and other players in the Ecosystem

As Smart Contracts and services like smart missions get developed on the chain, Network Contributors begin receiving an increasing revenue share over time. The aim is for Network contributor earnings to remain constant over a given period of time.

Given Cooper’s Law (the law of spectral efficiency described above), our theory is that the value will increase, even for areas with dense network coverage (for example cities). Our theory is based on the value that better network coverage increases the utility and thus demand for connectivity on that network.

Governance

Aspects of the Nodle Network are a Liquid Democracy, as the team begins to decentralize entities of the network. See Timeline for Decentralization.

Validators Stake Nodle Cash to:

  • Chose other validators

  • Receive transaction fees through validating the block

  • Improve the security of the Network and their IoT devices

  • Vote on governance decisions

For more information on governance and running a validator, see the Nodle Wiki

To become a validator node, participants will be elected and will have to stake 300,000 Nodle Cash. Projections have been made and evidence of a payout of more than 10,000 Nodle Cash per quarter for the first participating block producers’ nodes.

Plans for Further Decentralization

What is decentralized today

  • Network Contributors

  • Blockchain Payments

  • Nodle PKI (part of the Nodle Security Stack)

What is centralized today

  • Data Oracles

  • Routing and management of Data (we see 40-80GB of data per day)

  • Approval of customers and billing

Today the Network is composed of two components: a decentralized ledger and a centralized Data Oracle handling the interactions with the outside world. The Ledger handles most tasks related to security, authentication, and Token Economics. The Data Oracle has the role of exposing the IoT data to the decentralized world and also interface with traditional business customers. Because we try to support any existing IoT devices and protocols, we need to have the oracle verify non-cryptographic data.

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Further Decentralizing The Network As we continue building the Network, we expect to see IoT devices that sign their data in a cryptographic way. This requires firmware to be integrated with manufacturer and IoT device management tools, as well as the integration with Hardware Security Modules / Secure Enclaves to further secure the cryptographic keys. Fortunately this kind of technology is getting more and more affordable everyday. When this happens, we no longer need a Data Oracle as data is verified cryptographically. It will as well facilitate the computing of the reward formula in the smart contract.

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Expected Timeline

Nodle has the intention to decentralize as many aspects of the network as possible. Due to scalability and technical limitations, certain aspects of the network are handled off-chain.

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Potential Future Enhancements

The Nodle Network is intended to support other wireless protocols, such as Wi-Fi Aware, LoRa and 5G. In Fact we believe that some networks, like 5G mmWave (which could require more than 10X the number of base stations), cannot be deployed without a crowdsourced model like Nodle.

We expect to add support for other wireless protocols over time, and have already begun to architect our network to support the same. Reward formula upgrades may be proposed by Nodle and voted on by Nodle Network stakeholders.

As mentioned before many of these numbers will likely change, but we believe this is a good starting point until sufficient data can be accumulated to improve our models.

TRACTION AND ADOPTION

 

Coverage

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Community Development

We have multiple methods of community development with primary focuses on our social channels and the Nodle Cash app bonuses to increase user engagement and bring in new users.

We plan to continue with daily posts promoting our products and software update releases as well as engaging with our growing community to answer their questions, create surveys and chances to win Nodle swag (a community favorite).

        

In October of 2020, we officially launched our Ambassador program. We invited some of our biggest fans from The Citizen Network™ to join us as our Ambassadors. We officially have six (6) Ambassadors who assist in answering community questions, post about Nodle and Nodle Cash, share company updates, and beta test new versions of the Nodle Cash app. The Ambassadors are currently paid in NODL for their efforts. We have seen an increase of 10% efforts each month since this program launched.

We expect to double the number of Ambassadors by the end of 2021.

Currently we have 13k active email newsletter subscribers, whom we email 1-2 times a month to summarize Nodle company successes, events and updates. We plan to continue to grow this list as we announce milestones, share press we’re covered in and medium articles, add events, and continue our overall community development efforts.

As mentioned above, we are planning multiple webinars, fireside chats, tips and tricks regarding earning more Nodle Cash, and developer meet-ups (virtually until permissible) for 2021. We plan to bring in known developers in the community as well as business partners and tech professionals with diverse backgrounds.

As for the Nodle Cash app, it has already been proven (with the first launch of Missions) that Missions helps create craze around Nodle and NODL cash. With the next iteration of Missions, we plan on including referral bonuses, finding Nodle buddies near you, and making NODL payments and requests via the application.

  • twitter
  • twitter
  • telegram
  • youtube
  • medium
  • instagram
  • facebook
  • reddit
  • discord

Network Growth

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WORDS FROM FRIENDS AND FANS

 

“Nodle Cash is a manifestation of my background in blockchain and wireless — combined with the business model of tomorrow — where the user gets paid,”Rust said. “We started off with big telcos charging us a lot of money to communicate over the network. Along came IP, and all we did was pay for connection. With social media, we pay with our data. Nodle Cash is one of the first payment systems where you get paid for the data you provide which in turn allows businesses to improve their service.”

- Stefan Rust to Help Grow Nodle Cash, a Cryptocurrency for IoT Built on Polkadot

There's genius in this project! All that is required is a smartphone and a mobile application. No special investment, knowledge, or skill is necessary. The Nodle Cash app uses a "proof of connectivity" which verifies IoT data in the cloud.

- Moustaph B. Machina

March 3rd 2020. The first day ever, an app started paying me for my #data. @NodleTeam So begins a new era...

- David A. Johnston

TEAM

 
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PRESS