What is PKT aka PKT Cash Coin? As you know Taxi monopolies were eradicated by Uber, while PKT aims to eradicate the ISP monopoly.
The best part? PKT pays users for contributing their unused internet bandwidth especially when you’re sleeping at night.
Moreover, you’ll be able to:
- Pay your internet bills.
- Generate passive income from your home/office bandwidth.
- Pay your Netflix subscription
- Buy amazon products from your PKT Wallet
- Get a free VPN, and pay for speed with PKT Cash.
- Get an Internet connection via a local mesh connection using PKT Network
Let’s talk about the facts.
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ISPs are not regulated or subject to competition, as you are aware.
This creates a high barrier to entry and allows for monopolies that charge higher prices, offer poor service quality, have low coverage of areas served by competitors, or do not exist at all.
How can it be solved?
People who have gateway access to the Internet in their homes or offices can be a part of the PKT Network and share bandwidth without expert-level technical knowledge.
This is possible with PKT blockchain, which connects all edge points using smart contracts.
ISPs oversell internet connections, which is similar to selling gym memberships to expect people to only visit infrequently.
However, they don’t consider how much we are not using our home or office at night when everyone else goes offline.
CONNECTING EDGE POINTS
Now imagine if Edge Points could become the infrastructure providers. You can create fast, lower-cost mesh networks that are end-to-end encrypted and accessible from any connection to the Internet.
This decentralizes ISP’s role and helps build a global, decentralized network not controlled by monopolies or governments.
People are paid to create mesh networks, a network built by the people for the people. This results in large-scale international adoption because there has never been an economic incentive before.
PKT is an incentive program that pays Edge Points in PKT Cash every 60 seconds. This value comes from the number of bandwidth resources they expend to mine for PacketCrypt coins, which differ from other projects who simply pay people just because they connect but don’t require robust computing power as ours do.
Incentivized to maximize their throughput, Edge Points can earn PKT Cash coins by supporting the network. Miners must maintain at least 10-15 Mbps of available infrastructure for a normal mining operation.
The value of the PKT Cash coin should generally equal no less than the cost to earn PKT Cash from connecting infrastructure to support the PKT Network.
Since networking is so complicated, many people accept that they must pay a minimum cost per month to access the Internet.
PKT simplifies this by separating traditional ISP roles into two types:
1) infrastructure provider
2) network operator
Type 1 is like building the roads that people will drive on to earn money. Anyone can install PacketCrypt onto their home computer, server, or cell phone and become an Edge Point by connecting with other users of PKT Network. Nobody’s actually sending data over these networks yet, as it is focused only on scaling infrastructure for availability around the world before we start using them ourselves later down the road.
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Type 2 is the role of a network operator called a Cloud ISP. The Cloud ISP’s role is to be a combination of an ISP and VPN provider. They combine their bandwidth leases from Edge Points, which they then use in the same way a regular VPN provides connectivity. The analogy here would be Uber because there can even be multiple companies like this worldwide, each having its name (like how you have Lyft).
Cloud ISP’s business model uses two types of virtual assets: a “virtual router lease” and a “bandwidth lease.”
A “virtual router” is the temporary right to use physical features (e.g., Ethernet ports, firewalls) for an agreed-upon period—for example, one hour or one month.
Bandwidth leases are contracts that grant customers access to specific bandwidth between devices over certain periods; e.g., contract duration could be anywhere from 1hr – 30 days with the minimum amount guaranteed at 500Mbps per device bi-directionally, i.e.(500 Mbps download speed + 500Mbps upload speed = 1000Mpbs).
The PKT Network is rewarding computer owners for connecting their devices to the network. Participants are being paid $PKT every 60 seconds, which motivates people worldwide to join and contribute resources like storage space or bandwidth. So far, 200K+ cores have been connected worldwide, with a peak of 60Gbps.
The PKT Network is a nonprofit organization with no investors and a CEO. As the network grows, they make it possible to decentralize internet access worldwide through open source projects like enabling internet sharing, mesh networking, and Virtual Private Networks (VPN). The result will be people eventually obtaining free or low-cost Internet without traditional ISPs.