Categories
News

NetFlowCoin’s early miners can now convert their testnet tokens into NFCs

NetFlowCoin’s early miners can now convert their testnet tokens into NFCs

The long-awaited testnet token conversion announcement is finally here, users who participated in the early testing of NetFlowCoin’s testnet can now convert the tokens they mined into NetFlowCoin’s official coins. This will enable the miners to store, stake, or sell, their NFC coins ready for future purchases or investment gains.

 

The date has been set for the 23rd of September  2022 and will last for 30 days ending on the 23rd of October 2022.

How to convert the testnet tokens?

The testnet tokens will be converted via the  dedicated to the conversion of NetFlowCoin’s tokens. Every participant will be required to submit a request (via this website) after which the NetFlowCoin team will review and approve/reject based on the submission.

 

Every submission will enter a reviewing process that can last up to 7 days, so patience is kindly requested. Only the tokens that were mined from the testnet by the miners will be converted into NFC’s mainnet coins.

 

After the reviewal process, each submission will then receive NetFlowCoin coins immediately over the mainnet. The conversion between the token to coins will be a 1:1 ratio.

 

For any further questions please refer to the conversion guide or submit a message request via the NetFlowCoin website here.

Download the NetFlowCoin conversion guide

Download our step-by-step guide on how to convert your NetFlowCoin testnet tokens into NetFlowCoin mainnet coins.

Click to download

Categories
Articles

How will the blockchain impact everyone’s lives in the future?

How will the blockchain impact everyone’s lives in the future?

We have now entered a stage whereby the vast majority of people have heard what blockchain is. However, not everyone understands how the blockchain will impact their lives. In order for us to answer this question, we must first define what the blockchain is exactly.

 

A blockchain is a distributed database or ledger that is shared among the nodes of a computer network

Adam Hayes, seen in Investopedia

 

As many of you know, the current web 2.0 internet architecture is comprised of multiple server centers storing, and collecting, the world’s internet data and information. Well, the blockchain can be used to ‘distribute’ this data across multiple locations.

 

By distributing this data and information, a few things begin happening, one is, no one controls all the data and information, and secondly, each individual has ownership over their specific set of data, meaning privacy is at the discretion of the holder. Any information stored on a blockchain is either encrypted or anonymized, and the retrievable data is only accessible by the owner.  

Digital twins stored on a blockchain

Now that we have defined what the blockchain is, we can begin defining what are the use cases for this technology. Considering that blockchain technology in itself is nothing new nor revolutionary, but instead, the technology built above a blockchain architecture can be considered ‘game-changing’.

 

A key characteristic of blockchain technology is twofold. One is the limitless storage potential a blockchain could grow to (in the future, of course), and the second is the personalization of an individual’s blockchain.

 

An individual, in theory, can create their own blockchain/sub-net that is only accessible to them. Afterward, any data or information that an individual generates will automatically be sent to and stored on their blockchain. This individual could then give streaming rights to companies in return for products and services.

 

Incidentally, this individual would be creating a digital copy of themselves that can be used for all types of applications which can become a way, in the future, for humans to customize every aspect of their lives.

Predictive technology

Currently, in the real world, we are unable to create perfectly formed simulations of two occurrences with a 100% accuracy of data variables being played out in the exact same order.

 

For example, if we were to create a “what if” scenario about a car driving at 50km/h down a straight road, with the same driver under the same wind speeds, car speeds, car mechanics, driver’s emotional stability, etc… and we simulated a new type of tire turning a corner, or a new road sign with oncoming traffic, or even a different ring tone on a phone. We could pinpoint with 100% accuracy the cause of the outcome under these conditions due to our digital twin simulation tests.

 

Where does this data come from? Well, this could be one of the services an individual may sign-up for, whereby they grant access to these predictive companies to run simulations about that individual’s upcoming day and cross-reference them with other users’ days. When we begin creating complex simulations using thousands of people’s variations, it becomes a headache. However, the technology is applicable due to blockchain technology.  

 

One key characteristic of blockchain technology is immutability. This means anything stored on a blockchain cannot be altered once being submitted. This is incredibly helpful in the finance sector.

Metaverse

Ok, there will be many people who’ll inevitably disagree. Regardless, the metaverse is not as simple as people make it out to be. For example, there are centralized metaverses, such as Zuckerburg’s Meta company, and then there are decentralized metaverses. Perhaps the closest example would be Decentraland.

 

For this example, we’ll focus on decentralized metaversal worlds, as the core concept of a web 3.0 environment is one that removes the need for intermediaries.

 

In the future, the world may begin transitioning toward working, playing, and communicating within a metaversal environment. A decentralized metaverse will inevitably use a blockchain to host and store applications and data. However, the decentralization/distributed aspect of a metaversal world will utilize blockchain technology.

 

The blockchain’s functionality for a decentralized metaverse is the distributed storing of its data combined with the authenticity of metaversal activity by each user.   

Finance

Perhaps this should have been the first major point for how blockchain will impact everyone’s lives in the future, but, blockchain in finance is somewhat of a dying feature, it’s no longer exciting. The ides that cryptocurrencies are here have already been proven to a point that people no longer discuss the core concepts of what drives it anymore.

 

Of course, people are still raving and complaining about the fluctuations across the crypto markets, but these are often people who have missed the entire point of what blockchain technology truly offers.

 

Regardless, finance will be an important aspect that will govern our online lives in the future. The only difference is that the currency used will be in the form of a cryptocoin/token/asset, which will more than likely make paper money redundant in the future.

Conclusion

Blockchain technology is only the foundation that has for a long time needed to be built upon and integrated within the current systems we have used today. A big part of our future will use some aspect of blockchain technology.

Categories
Articles

Top 5 crypto coins that actually have utility in the web 3.0 world

Top 5 crypto coins that actually have utility in the web 3.0 world

Although we now live in a digital world that is dominated by multiple cryptocurrencies all operating across numerous chains. But, do most of these currencies have any actual utility? More often than not, they don’t but have instead been invented as either a layer to support the one below it or as a scam project so that the creators can fool others into buying into their schemes.

 

Regardless, we have identified 5 of the top crypto coins, not tokens, that have actual utility. In our opinion, we see these networks taking off and becoming one of our future digital foundational layers, which is something the industry has been waiting for. Although some networks are ahead of others, there’s still a lot of growth across the industry.

Ethereum

Of course, the top coin that has real utility is most certainly the Ethereum network. In many cases, Ethereum has brought us the next evolution of blockchain’s development by introducing smart contracts. From these smart contracts, developers were able to deploy DAPPS, governed by ERC-20 tokens (other cryptocurrencies built above the Ethereum network) that have since made the industry take off.

 

We can see that the Ethereum network has increased in popularity over the years and has even surpassed Bitcoin as one of the most used networks.

Graph showing ethereum vs bitcoin

Solana

Solana is most certainly a network we cannot leave off this list, mainly due to the fact that Solana’s technology can be viewed as the strongest contender to Ethereum. Solana has proven to be highly more scalable compared to Ethereum due to the high transaction speeds across their network. See comparison below:

TPS graphc between different cryptocurrencies

One of the issues that Solana is facing is this consistent problem that occurs over their network, which requires them to shut it down on a regular basis due to bugs within their network. This is a clear sign that Solana has a long way to go in terms of surpassing Ethereum’s ecosystem.

Avalanche

Avalanche is also an impressive layer one public blockchain that shares multiple similarities to Ethereum and Solana in terms of deploying smart contracts and DAPPS.

What’s rather unique about the AVAX network is the added functionality for developers to create sub-nets. These sub-nets can act as private blockchain networks that can be used by companies or governments without them needing to build their own blockchains from scratch.

NetFlowCoin

Possibly one of the highest utility coins on the market is NetFlowCoin. The NetFlowCoin network has created a complete peer-to-peer internet that enables users to share, store, stream, and communicate with anyone anywhere across the globe using any type of NFC-ready device.

NetFlowCoin’s network has all the flexibility and features such as Ethereum (by creating smart contracts), Filecoin (decentralized storage), Avalanche (create multiple sub-nets, public or private), and Solana (with a high TPS).

Monero

Monero is more of an adaptation of the Bitcoin network. It is designed to be a cryptocurrency in all sense of the word. Users of the Monero network can use their digital assets to purchase goods or services in the real world. They are also a coin that has been around longer than most, starting in 2014.

However, one of the unique aspects of the Monero network is that all transactions are completely hidden and private, something that is special to Monero users.

Conclusion

There we have it, the top 5 coins that actually have utility. Of course, there are multiple coins out there on the market and even more tokens. However, in the future, the need for so many different coins and tokens will diminish as the entire industry begins to mature.

Let’s hope that these top 5 coins will remain.

Categories
Articles

NetFlowCoin: Beyond our imagination

NetFlowCoin: Beyond our imaginations

When we look toward the future of the internet, we imagine a world interconnected with one another, without the need for centralized intermediaries that is entirely governed and run by the people. 

 

Numerous individuals who are in the blockchain, and crypto space, are somewhat blinded by what the technology can truly offer. It’s not to say that decentralized finance (de-fi) is an interesting adaptation of how the current internet can be utilized, but it’s only a small aspect of where the industry is heading.

 

When we consider everything that’s been discussed over the last few years, it’s become clear that web 3.0 can offer a haven for individuals to store and share their data at will. This very basic concept, however complex to build, is the underlying basis of unlocking the next digital age of mankind’s evolution. 

 

How the future internet will look using blockchain technology

To achieve a web 3.0 architecture, one that fulfills all the speculative comments currently circulating the industry, we’ll need to place NetFlowCoin’s, or a similar network, at the center of this new internet. By doing so, users will have the freedom to store any and all data about them across an interconnected internet that’s only accessible by that one individual. 

 

If we dive deeper into this concept that all of our data will one day be owned and controlled by us, we can begin doing extraordinary things. This new internet architecture will affect almost every industry, as, data collection and storing will no longer be a burden but rather a desire due to users taking back complete ownership and enabling their livelihoods to be streamed in return for more mature, customized services. 

 

For example, if we created a world that was full of different types of sensory systems, and the software within these sensors is designed to recognize every individual no matter where they are, and all the data gathered about this individual will automatically be stored onto their personalized blockchains, then, in theory, we can design applications and algorithms to determine ways to make each individual’s life more convenient.

 

A system that can utilize, monitor, and predict a person’s daily habits could be used to create a world without boundaries, a world that completely alleviates menial day-to-day tasks such as calling a car, not knowing what to eat, news updates, etc… this could all become automatic as the system will be able to read and analyze a person’s data in a way that knows exactly what the individual needs. 

 

Of course, we are far from making this idea a reality; however, the foundation for this world to be built upon is on its way, and NetFlowCoin is one of the only networks across the globe that has the potential to make this concept a reality. Time will tell, but the underlying message is that the technology behind cryptocurrencies is more than it seems and will propel us into the future that will one day be powered by NetFlowCoin.  

Categories
Articles

Why NetFlowCoin is important for the future internet

Why NetFlowCoin is important for the future internet?

We live in a data-driven society that is constantly expanding beyond its means to support the vast amount of newly connected devices, services, and information. By which a new architecture must be introduced to bring together a community of people who can contribute to this significant expansion.

 

If we look at the current internet’s architecture, all the data and information is stored and controlled by a handful of large corporations. Their capacity to accommodate this fast-growing world is also under pressure, meaning many bits of information and data will be lost. 

 

To combat this, we must adapt to a new way of data collection and storing that also protects a user’s data in a way that companies have been unsuccessful in. The next internet commonly referred to as web 3.0, maybe the necessary solution needed to fulfill these points.

 

The sheer mass of connected devices today is staggering, and the majority of these devices have some type of storage & internet capability, which means billions of devices could become independent storage centers that can act as micro server centers hosting numerous of people’s information, data, and applications in a decentralized/distributed network.

 

However, the current [blockchain] industry has not evolved far enough for this to be a reality, but, in the future, this is the ideal place we want to get to in order to take back complete ownership over our data. There are multiple blockchain projects working on this, but NetFlowCoin’s technology is, more than likely, the most advanced.

 

The future, powered by NetFlowCoin

With the rise of web 3.0, many people misunderstand what actually needs to be done for it to become a massively adopted industry, and that’s the foundation. Yes, transactions can already be made via the Bitcoin network, completely decentralized, but web 3.0 is not there yet.

 

If we compare web 3.0 to web 2.0, the difference that many people are discussing is that all of a user’s data is owned by them and no one else, meaning your personal data will not be seen or collected by any intermediaries. 

 

In comparison, web 2.0 is a collection of data & information stored on centralized servers; for users to gain access to that information, we must submit a request via a protocol that grants us access. This is the very basics of the internet we see today. 

 

If we are to achieve a web 3.0 alternative, then there must be an abundance of accessible data and a protocol to connect us to it, but with the added feature that all the information being accessed is decentralized and completely peer-to-peer, something that only a handful of people in the world can develop.

 

This is where NetFlowCoin’s network becomes very interesting, as the NetFlowCoin ecosystem has been designed to facilitate this next generational internet emulating all the key features discussed above. 

 

Within the NetFlowCoin network, users will have the freedom to share, store, stream, and communicate with zero restrictions or breaches of privacy by third-party intermediaries. In addition, whether someone is a user, developer, investor, or miner, they’ll be incentivized by the network, creating a closed-loop economic digital structure that numerous projects have failed to do. 

Categories
Articles

NetFlowCoin in the metaversal world

NetFlowCoin in the metaversal world

One of the most influential industries that will emerge over the next few decades will be the metaverse. There is no question that this is where the world is heading and with it, a whole new way of interacting with others from anywhere in the world.

 

The concept of a metaverse is truly remarkable, and there are numerous companies working on bringing it to life. However, the metaverse can be both centralized and decentralized, and so, throughout this article, we will be referring to the decentralized metaverse.

 

For understanding, the metaverse will be a digital ‘universe’ that enables users to enter it without limitations on location. The metaverse can only be described as something from a science fiction film, whereby many industries and services will be worked upon via the metaversal world.

 

We are currently in the very early stages of seeing mass adoption for a metaversal world, although there is a lot of development that needs to be done. The main focal points would be the infrastructure and usability; this is how NetFlowCoin can support.  

 

A world without boundaries

If we imagine a world, where we can attend meetings, give speeches, and work directly with a team from anywhere in the world, without the physical limitations of being present; this is precisely one of the key features the metaverse can bring us. It will completely remove the boundaries that have made remote working almost impossible.

 

However, the metaverse, like the current web 2.0 internet, needs physical infrastructure such as internet connectivity and servers to host and process this digital world, and all the information flowing through the metaverse needs to be connected via a communications protocol.

 

NetFlowCoin’s network is the perfect solution to accommodate a decentralized/distributed metaversal world. One that wouldn’t be confined by the internet restrictions placed above it, enabling anyone from anywhere in the world to simply connect and communicate.

 

The NetFlowCoin network is primarily a storage and data enabler that can connect any device across the planet into a peer-to-peer network, removing any intermediaries from accessing or blocking the flow of information.  

 

Applying this theory beyond the working limitations and applying it to a whole spectrum of industries, the sheer potential of a network like this is limitless. For example, decentralized gaming companies can deploy an ever-growing land that enables users to constantly explore or a social interaction portal that allows people to communicate freely with complete privacy.

 

How will the NetFlowCoin network support the metaverse?

Like everything in the digital world, we communicate using data, the most attractive prospect of a decentralized/distributed metaverse will be privacy and ownership. By using the NetFlowCoin network, users will have both along with the added functionality that users can earn rewards through the process.

 

If a user hosts a part of this decentralized/distributed metaversal world on an NFC-ready mining device, they will become community supporters, by which, they can earn NetFlowCoins over time. In essence, the more data users generate over the NetFlowCoin network the more they will earn.

 

The system creates a win-win ecosystem for everyone, allowing them to control the next generation of the internet. The metaverse will be a technological advancement that will affect generations to come, and it will be powered by NetFlowCoin.   

Categories
Articles

NetFlowCoin in the real world

NetFlowCoin in the real world

Being part of a crypto/blockchain project really places things in perspective, as we are trying to strive toward creating technology that accelerates the convenience of our online lives that has a direct impact on our offline ones.

 

We often hear how blockchain projects can assist us in the real world, from quality control to government auditing, these are some applicational uses that blockchain technology can be utilized for.

 

However, numerous blockchain networks have struggled to develop a network that can enable on-chain activities to be converted into off-chain services. However, the NetFlowCoin Foundation’s network may have solved this issue.

On-chain payments in return for off-chain services?

NetFlowCoin is a layer one public blockchain that has developed a solution that enables users to share, store, stream, and communicate in an entirely peer-to-peer distributed network. Bringing to life the third evolutionary stage of web 3.0’s development.

 

Users of the NFC network can purchase streaming rights from other users across the NFC universal network. This has removed the boundary that streaming services can now be paid for, and received, in an entirely decentralized/distributed network architecture.

 

For example; a traffic miner in the NFC network, can host a series of video content and share access to their mining device with everyone. A user can then purchase (using NFC’s FUL pegged tokens) the streaming rights to access that video content, whether on a monthly fee, or a one-time fee and the user will receive the video, which is an off-chain service.

 

The entire transaction of the above example is done without any intermediaries involved and acts as a closed-loop economy that rewards the traffic miner in NetFlowCoins, and the user can enjoy the streaming rights given by the miner.

 

The idea would be to readjust the business strategies of streaming as a service, so that miners can reap the rewards compared to intermediaries, giving people the opportunity to retain 100% value of what they offer across the web 3.0.

Digitalizing our lives?

As we move toward the future, blockchain will intertwine with numerous advances in all fields of technological advancements; if we look at the digital twin concept, and apply it using conventional, centralized, methods, we will see a breakdown in trust among users and services.

 

But, if we apply blockchain to digital twins, we can address these trust concerns, which makes the concept possible; as every individual could have their digital twin, and any information/data generated about them, stored across the blockchain.

 

Individuals can then grant streaming rights to their digital twin’s data in return for services, a function that only NetFlowCoin possess, and by doing so, individuals can be assured that none of their data had been stored by any third-party company, this completely changes the way companies and users will interact in the future, creating the perfect balance between the two parties.

 

Over the years, we envision a sci-fi-style future, whereby we will all be interconnected in some type of digital form, enabling AI, data, and information to govern our lives, for the better that is, and the web 3.0 is the early signs of this future.

Categories
Articles

How will the internet look by 2050?

How will the Internet look by 2050?

Interestingly, it is not a far-off assumption, that the way in which we communicate and access information will change dramatically. Considering how the internet had changed from the 1990’ to 2020, within this short period of time, the world had changed exponentially.

 

If it only took 20 years to advance so quickly, imagine how the internet, and the world for that matter, will look after 30 years. This is the center of this article, as we uncover how the internet will look by 2050.  

Data and the great transition

We are all aware that data is the crude oil that fuels artificial intelligence. It is known that the more data AI is fed, the smarter, and more advanced AI will become.

 

We are currently living in a world whereby data collection is being stalled by regulations, and this impedes the growth of artificial intelligence. But, what if there’s a solution, one that goes hand in hand with regulations while maximizing the fuel needed to accelerate artificial intelligence?

 

In all honesty, AI is inevitable, whether the world accepts it or not. The advantages of integrating AI across all walks of life completely outweigh the current operational model controlled by human labor.

 

But by doing so, data is needed. This is where blockchain and web 3.0 comes into play. In theory, every human would have an identical digital twin associated with them, and all their data, and any data generated about the individual, would be stored on the blockchain, that is only accessible by them.

 

By doing so, our entire existence could become tracked, monitored, and analyzed constantly 24/7, without the fear of our data being abused by third-party organizations.

 

Our entire lives, duplicated into digital form, could then be streamed, with our consent, to AI-based companies that use our data in return for services, such as medical, lifestyle, travel, etc…

 

We may, someday, become a race that is governed entirely by AI, which runs off data that we control. Every individual would be able to stop/start companies from streaming their digital twin’s data at any time, with the knowledge that their data was never stored.

 

This breaks into a whole new industrial opportunity, that will create a surge in demand for sensors and IoT devices to be deployed everywhere. These sensors will be directly connected to the blockchain that will constantly collect data about an individual and add it to their digital twin.

The world will be bigger than we know

Within the next 30 years, the entire blockchain, web 3.0, and metaverse would have matured enough to the point that web 2.0 architecture may be something of the past.

 

As our entire livelihoods would interact within an artificial world that resembles something similar to a digital universe created as a secondary means of interaction.

 

Perhaps the interactions made within this digital universe would be far superior to that of ordinary life, resembling something of a sci-fi film. But, the underlying principle is, that the limitations on data storage, data accessibility, and physical location restrictions, would all be eradicated.

 

Once the world adopts this new approach, the way in which we interact will be completely foreign to how we interact today, and the underlying technology that will drive this will be blockchain technology.

The challenges we face

This future doesn’t go without challenges, and the blockchain industry is plagued with them. Many people have the misconception that blockchain was designed for cryptocurrencies. This is not true.

 

In fact, the blockchain has been around for numerous years, before the launch of BitCoin, but it was a great solution for P2P financial transactions, and that is what brought life to the crypto world.

 

The current issues we are seeing today, are the exact issues that need to be solved. Whereby people put too much emphasis on the value of a digital asset, rather than placing a value on the technology behind it.

 

In light of the LUNA & CELSIUS collapse, this is a good representation of this issue. These projects were designed to offer financial returns to investors, without a deep dive into their technological backing.

 

It is time people realize that the industry is technology-focused, not prosperity-focused, at least not yet, and with this realization, the industry could finally get on with what it was designed to do, and that evolve mankind into its next digital era.   

 

Categories
Articles

What is the main purpose of the blockchain?

What is the main purpose of blockchain?

Many people in the blockchain industry have a huge misconception of what it’s all about. We see numerous individuals associating the blockchain with making money, which in a sense, isn’t entirely wrong, but that’s not its true purpose.

 

The blockchain can be described differently according to many different people, but, all the blockchain is, is a fancy database. One that stores information and data. The amazing aspect though is that it’s immutable and decentralized.

 

This means, the stored information is not stored in one location but is instead stored across thousands of different locations. It’s immutable because once something is added to the blockchain, nothing can be altered or changed.

 

In essence, the blockchain has actually been around for numerous years, dating back to the 1990s, it is only now that it has become so popular as it is the perfect solution to initiate peer-to-peer transactions, without the need of an intermediary.

 

But it can be used for more than this, in this article we will go through some of the real purposes of the blockchain, and explain how it can be applied to all walks of business.  

Building on top of its function

If we look at the way the internet is currently structured, we will uncover that it is comprised of a lot of information and data stored in central locations. For example, all the information we see on Facebook is stored on Facebook’s servers, and any data we (users) generate while using Facebook becomes the ownership of Facebook.

 

This is a centralized architecture and is also referred to as web 2.0. But, imagine if we could access similar services, but have our data stored in a decentralized/distributed network, and all the data we generate is owned by us.

 

Well, that exists, and this is due to the blockchain. If the entire internet is run on servers, and databases, then the blockchain can become a substitute for the current internet, with the advantage that users have ownership over everything they do.

 

Yes, cryptocurrencies are another great example of how blockchain is being used, and one that we can all use today. As any money we transfer over the blockchain is completely peer-to-peer, and any money we receive is owned and viewed by us.

 

The applications that can be applied to the blockchain are slowly becoming more than just a novelty, as we could eventually integrate blockchain into the public service sectors such as government, medical, transportation, etc…

 

The blockchain is a technology and is a solution, that will solve many issues that have plagued us online. Many people are still unaware of what the blockchain is actually used for, but, its technology is only just beginning.

 

Eventually, the world will be capable of seeing integration between our offline lives with our online ones, with zero data issues. By applying this analogy to the future, we are certainly entering the next level of our digital evolution.

Categories
Articles

How does the NetFlowCoin ecosystem work?

How does the NetFlowCoin ecosystem work?

It is no secret that the development of web 3.0 is still in its infancy stages. However, many people are usually misled by their understanding of what web 3.0 actually entails.

 

Cryptocurrency is not web 3.0, but instead, is a part of web 3.0. In fact, web 3.0 doesn’t necessarily need crypto at all. The concept of crypto is by bypassing financial intermediaries, and this is exactly the function of a web 3.0 internet.

 

An internet that no longer needs intermediaries or centralized companies is the perfect definition of what web 3.0 is. When we think about the current internet, we immediately think of data/information storage connected via a communications protocol.

 

That’s all the internet really is. Of course, we can delve deep into the ins and outs of it all, but ultimately the internet is just a giant accessible database, that is owned and controlled by a handful of companies.

How does NetFlowCoin fit into this?

As mentioned above, the current internet (web 2.0) is a giant database that stores information on multiple central servers owned and controlled by a handful of companies. As users, we then request permission, via a protocol, to access that stored information.

 

NetFlowCoin on the other hand offers a similar solution, but instead of information stored in central locations, information is stored on the blockchain that is comprised of thousands of distributed locations.

 

Users will be able to access these locations to either, store their own data, stream media content, share access of their information with others, and communicate with anyone around the globe, purely peer-to-peer.

 

The individuals who are offering these locations are called miners, and if a user purchases any of the above services from these miners, then the miner will be rewarded in NetFlowCoins, depending on how much data traffic is generated by the user’s request.  

 

The impact that this technology has is, that users no longer need to worry about their personal data being collected, or hacked and that they can bypass any restrictions set forth by web 2.0 giants.

 

Furthermore, developers will be able to deploy decentralized applications (DAPPs) by creating smart contracts on the NetFlowCoin network. Users will be able to access these DAPPs similar to how other DAPPs are accessed.

 

All the information and data generated by the user will be stored on the blockchain, and only accessible by them, no one else. Meaning, that all users will have complete control over their data.

 

If we dive deeper into data ownership, then, any and all revenue generated by a user’s data will also be rewarded back to the users. For example, if you created a video, and shared it with the network, then any money generated from that video will be given to you, the user.

What’s the tokenomics behind NetFlowCoin?

A good blockchain/cryptocurrency project will undoubtedly have an interesting tokenomics plan behind it.

 

The mining aspect of NetFlowCoin uses a dual consensus mechanism, which are proof of stake (POS) and proof of flow (POF). There are three types of mining features for NetFlowCoin they are as follows:

 

– Block generation: This runs on a POS model, whereby block gen miners are verifying transactions across the network and generating new blocks to add to the chain.

 

– Traffic mining: Miners will need to purchase a dedicated NFC-ready mining machine that has storage capacities. These miners offer their storage space to users and/or media content for users to stream. The more data generated across the network the higher the rewards for the miners.

 

– Bandwidth mining: These types of miners will still need NFC-ready mining machines, however, these mines contribute their extra bandwidth capabilities to the network, enabling users to experience higher network speeds.

 

NetFlowCoin has a dual-coin model. The counterpart coin is called FUL, and it is pegged to the US dollar. NetFlowCoin does this to control the inflation/deflation aspect, as, they need to ensure that pricing across the network is not influenced by the influx of the NetFlowCoin coin.

 

The distribution model is as follows:

 

There are 2.1 BN NetFlowCoins ready to be mined.

Founding teams 5%

Project teams 15%

Investors 10%

Traffic mining 55%

Bandwidth mining 10%

 

80% of the coins will be burnt, eventually leaving around 400 million coins in total.

 

The vision of NetFlowCoin is to become the foundational communications layer that will support the entire web 3.0 ecosystem.