Nodle Network is the name of the IOTA (MIOTA) competitor that is in the process of migrating from Stellar (XLM) to its own blockchain network as the latest blockchain news today show. The release of the Arcadia testnet is helping the Nodle Network outgrow Stellar with over five million active nodes with over 92 million detected devices.
While Stellar has been able to handle Nodle’s heavy traffic of 1.3 million daily transactions to date, the company trusts that it needs to deploy its own blockchain and accommodate some of the advanced features that it envisions as per its wallpaper.
The blockchain architect at Nodle Network, Eliott Teissonniere, thinks that interoperability is the key to the future success of its Arcadia blockchain. It is being built on the Parity Substrate framework and employs modular design with a focus of becoming Polkadot’s parachain. As you probably know if you are reading our crypto news, parachains are specialized blockchains that make up the Polkadot network.
Nodle Network participants earn Nodle Cash. However, the cryptocurrency is not listed on exchanges and does not have any monetary value right now. As Teissonniere recently told the media:
“It’s a bet on the future. And essentially, they’re going to be able to use it in a few weeks to interact. So we were going to open a customer interface. And so you’ll be able to use another currency that you’ve earned to develop the fine stones, to set up playbooks to connect your own devices.”
Nodle Network’s co-founder and CEO, Micha Benoliel, explained how they wanted to “build enough demand and have the ecosystem sufficiently mature before we list it.” He additionally noted that the company was able to achieve “presence on more than 20 million monthly smartphones” by offering app developers Nodle Cash as compensation.
Benoliel believes that Nodle Network is a “great alternative” to IOTA and that the company’s strengths are its concrete use cases and interoperability. In the end, the CEO expects deployment in approximately six months. Meanwhile, IOTA is still recovering from a major hack that may present Nodle with a massive opportunity to carve out a fair chunk of the IoT blockchain market.
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