It’s no secret that the world has become incredibly digitized, and this is only going to continue going forward. One term that everyone has grown accustomed to is IoT (Internet of Things). IoT is a network of physical devices and objects embedded with sensors, software, and other technologies that allow them to collect and exchange data with other devices and systems.
Nodle, the firm behind a connectivity platform which actively incentivizes users to be nodes of a corresponding IoT network, is working to enhance IoT capabilities by leveraging the ever-increasing usage of and accessibility provided by smartphones on a global scale. Basically, Nodle is enabling users to construct the first decentralized network powered entirely by smartphones.
How does Nodle use IoT?
IoT may be utilized to create new financial products and services in the context of financial technology and emerging markets, such as mobile payments, digital wallets, and peer-to-peer lending platforms. IoT devices can also be used to improve financial inclusion by giving individuals and small businesses who were previously underserved or excluded from traditional banking systems access to financial services.
As previously alluded to, in order to broaden the footprint of IoT networks, the network uses Bluetooth connectivity to rent computing power, storage, and Bluetooth capability of devices. Also, by deploying actionable missions completed by individuals and their smartphones with no previous knowledge needed in just a few minutes, Nodle’s Smart Missions link the physical world to the blockchain. In doing so, not only can anyone with a smartphone participate, but individuals and organizations can even code missions that help achieve their goals.
Moreover, the nodes can then opt into the various missions and be rewarded for their actions in the real world. Things that happen in the digital world are currently confined to that realm and have no physical presence, but Nodle is changing this by acting as a link between the two, allowing it to become executable with minimal difficulty.
The value of Smart Missions and the significance of smartphones nowadays
Smartphones operate Nodle software and serve as nodes, expanding the network and providing resources for what the project refers to as Smart Missions. Essentially, users are rewarded for keeping their app active, allowing the node to successfully complete these missions in a novel twist on the A2E (Action-to-Earn) concept.
Interestingly enough, Nodle compared Smart Missions to smart contracts on the Ethereum network. The primary distinction is that these smart contracts can interact with the real world and devices via the network’s smartphones. Smart Missions can additionally be created by developers and deployed to the network. They’re also important to the ecosystem because the deployment of a Smart Mission is funded through developer fees.
Lastly, in order to encourage users to finish certain smart missions, developers must also include incentive mechanisms. So, not only do smartphones have the ability to quickly spread the mainstream adoption of blockchain technology, but digital communities across the globe are being connected like never before and a truly decentralized social layer is being created.
What else is there to know about Nodle?
Builders frequently require robust support for the tools they already use, such as their code editor, debugger, and so on. They will want to put their Smart Missions through rigorous testing in a production-like environment and on physical Nodle-enabled devices. This is where the Nodle App comes in, as it is a unique way to run the Nodle SDK while providing more control to its users.
Furthermore, the Nodle App can download and run Smart Missions chosen by the user, whereas most other Nodle SDK-enabled apps will delegate this responsibility to a third party. Undoubtedly, Node Operators are responsible for enforcing privacy regulations such as the CCPA and the GDPR; they will decide which Smart Missions can run on their nodes.
Also, every Smart Mission’s chain code should reveal a set of functions and storage values that Node Operators can use to determine which Smart Mission to execute, and that the Nodle App can use to correctly classify each Smart Mission.
Moving forward, common needs and implementations would certainly become easier to identify as more builders join ecosystems and create Smart Missions. Once this is possible, some teams could create a common library of mission building blocks that would make it even easier to write a mission with different libraries which have been vetted by the community to generalize well, be optimized, and bug-free (not unlike OpenZeppelin on Ethereum).
What about past accomplishments and future goals?
Nodle has already made several significant achievements. It raised $42 million USD via crowd loan (the contributors will get their money back next year) by taking possession of the 11th Polkadot parachain slot, with DOTs staked: 2,475,528 and 8,000 contributors. The firm also successfully migrated from a solo substrate chain to the Polkadot parachain, enhancing security and decentralization. Nodle also published a 10-year roadmap showcasing the value and utility of the network over time. The Nodle token (NODL) reached 712,778 token holders, making it the third-highest in the ecosystem.
The company’s native token was also listed on 7 exchanges in 2022. In September 2022, Nodle entered the Brazilian market and announced the NFT feature on the Nodle App. The company signed its first large paying “on-chain” customer, Roole, generating up to $500,000 of recurring revenue per year, and announced the integration of Nodle with Ledger. The company’s efforts have been met with success, as its media coverage has reached 60+ outlets, and its token holders in Brazil grew from 1,165 in September to 8,000 in December.
Nodle is onboarding developers to the network to deploy Smart Missions and dApps. The company also aims to enhance the Nodle App’s social layer by adding features that connect the digital community already present in the digital world, including additional NFT capabilities, Proof of Participation, messaging, and a marketplace. Additionally, Nodle will continue to iterate on the utility SDK, allowing partners to have proprietary in-app NFT minting capabilities.
What could be some real use cases for Smart Missions?
A Smart Mission might involve a user connecting to a specific device or sensor that exists inside a particular geographic location and receiving payment for finishing the mission. Another example would be to ask a smartphone user to perform a specific task, such as taking a photo or recording a video.
In addition, Nodle has previously collaborated with businesses that want to leverage its network to help with certain use cases. For instance, the app was indeed utilized to power a service that employed Bluetooth identifiers on Nodle-connected smartphones in order to identify and track down stolen vehicles.
In any case, with the way the world is going, it would be safe to assume that Nodle has only begun to scratch the surface of what is possible with this technology and the sky may well and truly be the limit.
For more information and regular updates, visit Nodle’s official website and socials.
