Steller blockchain-based decentralized network provider Nodle Network has announced through a blog post that it is shifting from Stellar to its own Arcadia blockchain. Nodle Network specializes in the Internet of Things (IoT) and has five million active nodes 1.3 million daily transactions as of now.
Nodle previously stated that Stellar handles its massive daily micropayment transactions with ease. However, it claimed that implementing more advanced features as mentioned in its whitepaper is the main reason for the shift.
About the Arcadia Blockchain
The Arcadia Blockchain is backed by the Parity Substrate framework It implements a modular design with a focus on becoming Polkadot’s parachain. Eliott Teissonniere, Nodle’s blockchain architect is of the opinion that the success of Arcadia will depend on its interoperability capabilities.
He went on to add, “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.”
In the context of achieving interoperability, Nodle also hinted that it might integrate Stellar and Arcadia in the future through an advanced upgrade.
Nodle Cash
The Nodle Network will be powered by its own crypto Nodle Cash. As of now, the cryptocurrency does not have any value and is not even listed on any exchange. Nodle co-founder and CEO, Micha Benoliel commented that the company wants to build enough value and develop the ecosystem into a more robust one, before listing the coin on any exchange.
Nodle Network offers Nodle Cash as compensation to app developers and has already made its footprint on 20 million smartphones monthly.
Nodle quoted its Blockchain architect Eliott Teissonniere – “The launch of Arcadia is a leap forward for the IoT and Blockchain ecosystems. It represents the first public version of a central component of The Nodle Network that will be in charge of securely and privately maintaining IoT data transmitting through the network. Arcadia will support use-cases never imagined before, and serve as a testbed for new features that would then be deployed to the main Nodle Network after thorough testing.”
Arcadia is currently in the testnet. The firm has not mentioned any specific date for the release of the mainnet. However, it is being expected that Arcadia will arrive in the mainnet within six months.
IOTA is one of the major competitors of Nodle. It faced a major hack recently and is still coming off the ashes. This might be a great opportunity for Nodle to capture a major part of the IoT blockchain market.
