Nodle’s Crowdloan Plan for the Parachain Auctions on Polkadot
Nodle wants to make its Decentralized Wireless (DeWi) network and apps composable with many services from other chains. Having our parachain will provide us with an easy way to make this composability a reality. Nodle has already been testing its capability to interoperate with other parachains, such as with Acala Network earlier this year (see Medium post: Nodle is Now #ComposableWith Acala).
The Polkadot network provides shared security with access to a network of approximately 18,000 validator nodes that compete to maintain the best possible security and integrity for the on-chain records. Its nearly 300 validators are active at any given time and automatically selected for their performance from this huge decentralized network.
The Polkadot ecosystem is enabling access to its growing user base on other ecosystems such as Ethereum. When NODL becomes interoperable and composable with other chains, the number of potential network users will grow substantially, thereby increasing the number of participants and holders of the NODL token.
- More decentralization
Nodle believes that the power of blockchain technologies will be realized once all the different layer 1 chains and layer 2 services become fully interoperable. By enabling various industries and projects to build their own blockchains, Polkadot has created a way to make this vision possible. Parachains are an additional step toward accelerating this vision and the implementation of Web 3.0 fundamentals.
“We are thrilled to join the Polkadot parachain movement, which we believe is at the forefront of blockchain innovation. Other parachains include DeFi products like decentralized exchanges, smart contract platforms, and bridges to other networks. We believe gaining access to these products will further help Nodle to revolutionize the IoT and wireless landscape with better security and data control.” — Eliott Teissonniere, Chief Blockchain Officer and Director of Decentralization, Nodle
Nodle Crowdloan offering to parachain auction participants
When you contribute by locking DOT during the Nodle Crowdloan, you’ll receive NODL rewards from an allocated 850 million NODL — that’s 23% of the total Nodle treasury reserves or 10% of the circulating supply on the Nodle Mainnet!
After 96 weeks, your DOT contribution will be automatically returned to you.
You can participate and get all the details by checking out our parachain web page here: https://parachain.nodle.com.
What does it mean for the Nodle and Polkadot ecosystems
Nodle empowers the Polkadot ecosystem with next-generation IoT capabilities around connectivity, machine-to-machine payments, asset tracking, contact tracing, and, more recently, a way to certify and authenticate devices. This means any other chain ecosystems that are interoperable with Polkadot will benefit from the IoT services and smart contracts that are operated on the Nodle Chain.
Why Nodle didn’t choose to secure a parachain on Kusama
Nodle was among the first solo chains to launch into production using Parity Substrate. Maintaining and developing a chain was a big effort, and having two production environments didn’t make sense for us. We therefore developed a testnet named Arcadia that helps us test upgrades before we push them to the Nodle Chain in the production environment. Once we get a parachain on Polkadot, it will be our only production environment. On top of that, Polkadot is better audited and more production-ready than Kusama, which means it can provide us with better security and performance guarantees.