New Kind of Network (NKN) has launched its experimental mining rewards campaign. NKN is a blockchain network infrastructure that tokenizes network connectivity and data transmission capacity by decentralizing network resources. NKN mining rewards campaign is aimed at encouraging users to test the NKN Public TestNet, share network connectivity, and to begin building out the NKN infrastructure.
Users will be able to participate and earn NKN TestNet tokens by joining the NKN network, and running the NKN node software. Once NKN launches its MainNet, users will be offered the opportunity to convert TestNet tokens to MainNet NKN tokens. To facilitate the ease of deploying an NKN node, they’ve created a “one-click miner” program.
To begin the mining processes, users will not be required to own any TestNet (or MainNet) NKN tokens. As the consensus protocol will utilize Proof of Work (PoW), participants who share their internet connectivity and bandwidth will be able to mine.
However, NKN did state its TestNet is currently in an experimental phase, and is inherently unstable. A possibility exists where users could lose “all or part of their test tokens due to either chain fork, software upgrade, and system reset.” Should any of these events occur, NKN will “work with the community to offer a fair solution.”
How to participate in the mining campaign
To register for participation, users will be required to submit the following application:
Individuals will be required to prepare a Linux or MacOS machine, with a public IP address or port forward setup. The public IP address or port forwarding on the router is required so other nodes can establish connections.
Once the Linux or MacOS machine has been prepared, participants will need to download the “one-click NKN miner software” from the following GitHub link:
Users will then need to “decompress and execute NKN Nodeshell application,” and follow the guidance after opening their browser and entering “address http://[change to your server ip]:8181/web“.
For more information about the process, please refer to NKN’s experimental mining rewards article.
The official start of the mining rewards program has yet to be determined, but will begin no later than October 30th, 2018. Once the NKN MainNet is launched, users will be able to convert their earned TestNet NKN tokens at a 5:1 ratio (MainNet tokens:TestNet tokens).
Additionally, NKN has re-opened its bounty for users to find bugs and contribute code to the TestNet. Participants will be afforded an opportunity to win 5,000 – 100,000 NKN tokens. More information about the re-opened bug bounty can be found here.
It is estimated the NKN MainNet will go live in June of 2019.
More information about New Kind of Network (NKN) can be found at the links below.