Nodle Network (NODL)

Network Connectivity and IoT

Nodle Network uses smartphones as nodes to create a decentralized physical infrastructure network. It connects and locates Bluetooth-enabled devices and IoT sensors, allowing enterprises and smart cities to track assets and collect real-world data at low cost and with privacy. Smartphones provide wireless radio and bandwidth resources, earning rewards for their participation.

Rewards and Token Use

Users earn Nodle Cash (NODL) tokens by contributing to the network through their smartphones. These tokens settle network incentives and contracts, and will support governance and staking in the future. Rewards come from transmitting wireless data packets and completing "Smart Missions," which are simple applications running on users' devices.

Applications and Use Cases

• Asset tracking: Companies use Nodle to locate Bluetooth-connected items like vehicles.
• Media authentication: ContentSign uses the network to verify photos and videos on the blockchain, fighting misinformation.
• Smart Missions: Enable decentralized apps and AI deployment on smartphones for mission-critical tasks.
• Monetization: App developers can embed the Nodle SDK to generate revenue without ads or collecting user data.
• NFT minting and geolocalized airdrops: Users can earn and claim NFTs linked to real-world locations.

Technology and Ecosystem

Nodle Chain, built on Polkadot’s parachain technology, powers the network and supports decentralized applications. The network uses "Proof of Connectivity" to verify data transmission and maintain trust. The system is open source and designed for easy participation by anyone with a smartphone.

Pros

• Nodle Network allows smartphone users to earn cryptocurrency by participating in smart missions, making it accessible for beginners and enthusiasts.
• It prioritizes user privacy and device efficiency, requiring no email registration or personal information and using Bluetooth Low Energy to minimize battery impact.
• The network is decentralized and secure, using strong cryptographic techniques to protect transactions and user identities.
• Nodle supports real-world applications like asset tracking, IoT device connectivity, and media content authentication.
• It offers an educational platform to help users learn about blockchain and cryptocurrency.
• The network is energy-efficient and deployed on ZKsync, enabling fast and low-fee blockchain operations.
• Nodle tokens can be mined easily with a smartphone app, and the network rewards users based on wireless data packet transmissions.
• It has a user-friendly interface and promotes inclusivity for people from various backgrounds.
• Nodle is actively traded on several exchanges, with ongoing ecosystem development and partnerships.

Cons

• The value of Nodle tokens can be highly volatile, with significant price fluctuations over short periods.
• Mining rewards may be low, making it less profitable for some users, especially considering battery usage.
• The project is still in early stages, so some features and long-term goals are yet to be fully realized.
• Some users report delays in KYC processes on exchanges.
• Market manipulation concerns have been raised by some community members.
• The token supply includes locked funds that cannot be used in the network until vesting periods end, limiting immediate utility.
• Buying Nodle directly with fiat currency is not possible; users must first buy other cryptocurrencies to trade for Nodle.
• The trading volume and market cap are relatively small compared to major cryptocurrencies, which may affect liquidity.

Founders

Nodle Network was co-founded by Micha Benoliel and Garrett Kinsman in 2017.

Micha Benoliel

Micha Benoliel is the CEO and co-founder. He has a strong background in peer-to-peer connectivity and telecommunications. Before Nodle Network, he co-founded Open Garden, which developed mesh networking technology and the FireChat app. Micha has been involved in building innovative wireless networks and has experience enabling Skype to launch SkypeIn and SkypeOut.

Garrett Kinsman

Garrett Kinsman is the co-founder and Chief Operating Officer. He brings extensive engineering and product development expertise. Garrett and Micha started Nodle to create a decentralized wireless network using smartphones to connect IoT devices globally.

Together, they leverage Bluetooth Low Energy (BLE) technology and smartphones to build a low-cost, secure network for the Internet of Things.

Investors in Nodle Network

Nodle Network has attracted a variety of investors from the blockchain and tech sectors. Some notable investors include:

• Blockchange
• Work Play Ventures (founded by Marc Pincus)
• Blockchain Ventures (Blockchain.com)
• Olymp Capital
• Bootstraplabs
• Blockhead
• Luminescence Capital
• Maxx Capital
• pSquare Capital
• Titans Ventures
• TokenHunter
• Blockchain Coinvestors
• 5G Open Innovation Lab
• Hillrise Group (based in Adelaide, Australia)
• Chainfir Capital

Additionally, Mark Pincus is noted as an angel investor in Nodle Network.

These investors have participated in various funding rounds, contributing to a total raised amount of around $9.7 million, with earlier seed funding rounds raising about $1.5 million from around 30 investors.

Halal Status of Nodle Network

• Yes, Nodle Network is halal because it operates as a decentralized physical infrastructure network that rewards users for providing connectivity and data transmission services via smartphones.
• It does not involve interest (riba), gambling (maysir), or prohibited activities.
• The network's rewards come from contributing to real-world IoT connectivity and data verification, which aligns with ethical and permissible business models.