Bittrex Global announced PKT, the world’s first layer-1 blockchain for bandwidth, will list on its exchange later this month.
“and for Bittrex Global providing the community with an on-ramp to participate.”
PKT is an open-source community project that monetizes unused internet bandwidth and provides an economic incentive for people to expand internet connectivity and network infrastructure with minimal technical knowledge required. The blockchain is Bitcoin-fork designed for microtransaction scalability with near-zero fees and 60 second block times.
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PKT divides the Internet Service Provider (ISP) roles of infrastructure provider and network operator. In effect, this lowers the barrier of entry for entrepreneurs to become ISPs, and decentralizes internet access for billions of people worldwide.
“We are excited to welcome such a unique blockchain project onto the exchange,” says Stephen Stonberg, CEO of Bittrex Global. “Bittrex Global is pleased that it can serve as a vehicle of momentum for PKT and we look forward to seeing its many use cases come to fruition over the coming year.”
“I am excited to see the PKT community activated around the vision of taking the internet back from monopolistic telecom companies,” says Caleb James DeLisle, lead developer of PKT, “and for Bittrex Global providing the community with an on-ramp to participate.”
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There are an estimated 200,000 cores mining the PKT Network globally and the mining pools have reported seeing over 100 Gb/s of sustained bandwidth, powered entirely by people from around the world. Mining difficulty and network bandwidth have increased more than 10,000% since January 2021.
The PKT Network use cases will include free VPN, launching in 2022, localized mesh networking, internet sharing, and a new token issuance protocol called Token Strike, which provides token and NFT issuance with near-zero cost gas fees. TokenStrike will launch in 2022 and enables anyone to tokenize and trade bandwidth in a decentralized bandwidth market. PKT is an internet built by the people, for the people.
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