March 11, 2022 – San Francisco, California
With 320,000 mobile downloads and moving over two billion data payloads per day, the project secured the 11th parachain slot with $42 million worth of DOTs committed to their crowd loan.
Nodle, one of the world’s largest decentralized wireless networks that is powered by Bluetooth Low Energy (BLE) on smartphones, today announced they won the 11th Polkadot parachain slot auction. Nodle leveraged their community and achieved this milestone on March 10, 2022, with 7,528 contributions, equaling 2.48 million DOTs worth over $42 million. Nodle provides their decentralized wireless network infrastructure from users’ smartphones via the Nodle Cash app.
Polkadot’s blockchain ecosystem recently opened for developers to register their projects as parachains, enabling access to its strong native userbase and interoperability with other blockchains like Ethereum or its own ecosystem networks. This new parachain allows Nodle’s token (NODL) to be interoperable with other decentralized applications built on top of Polkadot or other blockchains that connect and benefit from Polkadot’s shared security principles.
Acquiring a parachain slot dramatically empowers Nodle’s next-generation capabilities including connectivity, machine-to-machine payments, air-quality monitoring, authenticating and securing devices, asset tracking and more. Nodle’s parachain also enables all other chain ecosystems that are interoperable with Polkadot to benefit from Nodle’s incredibly adaptable and expansive network.
Micha Benoliel, CEO and founder of Nodle, said,
“Having a parachain for Nodle, which offers real-world applications to the Polkadot ecosystem, accelerates our network toward even more decentralization and security. This makes NODL tokens instantly liquid and usable across all other parachains, dramatically expanding our decentralized wireless network vision. Now, our users not only benefit from Nodle Cash app’s utility but can [also] interact with decentralized exchanges, money markets and other DeFi ecosystems.”
Nodle allocated 850 million NODL?23% of the total Nodle reserves or 10% of Nodle mainnet to reward anyone who pledged their DOTs. After 96 weeks, all DOT contributions will be automatically returned to the contributors, in addition to the Nodle token (NODL) rewards they will earn. The company will also reward the highest contributors with unique Matrix-inspired NFTs created by a mystery artist.
Eliott Teissonniere, chief blockchain officer of Nodle, said,
“The Nodle parachain allows advanced interoperability and cross-chain integrations, which now permits any other parachain and DApps to seamlessly build on top of our network. These new functionalities come with an increased security and will be game-changers for the Nodle network and the entire blockchain ecosystem.”
Nodle is a decentralized wireless network that provides secure and low-cost connectivity, as well as data liquidity, to connect billions of devices worldwide. The Nodle network is powered by millions of Bluetooth-enabled smartphones that earn Nodle Cash (NODL).
Nodle’s powerful stack allows multiple uses including connecting and securing physical assets, tracking lost or valuable items, capturing sensor data and authenticating security certificates. Nodle provides insights for consumer electronics manufacturers, enterprises, smart cities, the finance industry and more.