In today’s world, the average internet subscriber pays for 24/7 internet, but only uses a fraction of their bandwidth. What if you could monetize your unused bandwidth, turning this resource into cash? Now you can.
PKT is a technology that is powered by a free software program called PacketCrypt. This software can be installed on any internet-connected device and utilizes hardware processing power and upload bandwidth to transmit data packets across the PKT Network. Each connected device is paid for this effort every 60 seconds in a native cryptocurrency called PKT Cash ($PKT). The PKT project developers will soon be building out network sharing technology, enabling safe, secure monetization of bandwidth beyond the simple PacketCrypt proof of work.
PKT economically incentivizes people around the world to maintain high quality internet access and connect as infrastructure for the PKT Network. This connectivity turns the average internet subscriber into an internet service provider (ISP) and builds a decentralized and distributed network that is truly powered by the people.
Introducing the PKT Network
PKT is the continuation of the 11 year old open source mesh networking project called cjdns, which makes it so that anyone can get an IP address without requiring a traditional ISP. This breakthrough technology makes it so people running cjdns can connect to other cjdns-enabled devices without needing a direct internet connection. This end-to-end encrypted, privacy-centric mesh network can help people get low cost or even free access to the internet that may have never been connected before.
PKT helps expand the cjdns project by introducing an economic incentive for participation. When connecting to the PKT Network, each device is paid to simply prove it has bandwidth. In the early stages of the PKT Network, the bandwidth is not being sold or even utilized, which ensures that each user’s bandwidth and privacy are safe. However, as the PKT Network scales, users will be able to connect cjdns technology, which scales PKT Network into a powerful, decentralized, end-to-end encrypted edge network that can support countless use cases, such as VPN, WiFi sharing, mesh networking, low cost, high speed internet access, and worldwide bandwidth trading markets. The ultimate goal is building PKT into a global ISP that is not only powered by the people but helps connect the next 1 billion people to the internet.
What Is The Future Of PKT Cash?
Currently, the internet ends at each global subscriber’s home and office. While billions of people still don’t have access to the internet, large amounts of bandwidth go unused and wasted every day. PKT changes this paradigm by economically incentivizing the shift of internet end-points into gateways to the PKT Network. PKT Cash is the native currency for this network, and functions as both an economic incentive, as well as a utility to pay for connectivity, VPN access, goods, services, and bandwidth trading across the ecosystem.
People that connect to the PKT Network are paid in PKT Cash, which has a limited supply of 6 billion mined coins. PKT utilizes a steady decay of 10% every 100 days, called a decimation, instead of the abrupt 4-year halving associated with Bitcoin. It will take a total of 63 years from the August 2019 network launch to mine all the coins. Additionally, PKT utilizes a Network Steward, whereby 20% of every mined block is paid into a wallet address that is used to fund open source technology through open competitive grant-making. Funds which the Network Steward does not deploy within 90 days are burned, forever removing them from the coin supply. This mechanism ensures there is always funding to support the network. As of December 2021, more than 7% of the total coin supply has been burned.
By the People, For The People
Global bandwidth is a $2 trillion annual market that is controlled by major corporate ISPs. A future use case of PKT Cash is to power a global bandwidth trading marketplace, which will give average people access to this multi-trillion dollar annual market. This is accomplished via TokenStrike, which is a new token standard that will be introduced in 2022, with near-zero cost token issuances and near-zero gas fees for transactions. TokenStrike enables anyone in the world to tokenize and sell a denominate, timed lease of bandwidth. In addition to mining, tokenized bandwidth will provide an additional way to monetize internet bandwidth. Bandwidth trading also enables buyers to speculate on valuable bandwidth leases and for Cloud ISPs to build virtual routing networks. PKT Cash is the native currency in this emerging market, which is expected to function similar to the Ethereum and ERC20 token relationship, but using Lighting Network and near-infinite transactions per second for scalability and settlement.
The PKT Network is on course to revolutionize the internet as we know it. Through economic incentive, PKT decouples the role of infrastructure provider from network operators. The PKT Network operates with no company, no investors, no foundation, and no pre-mined coins. This truly decentralized network, by the people, for the people, provides the incentive and the opportunity to get the next 1 billion people online.