Nodle Network, an IOTA (MIOTA) competitor, is in the process of migrating from Stellar (XLM) to its own blockchain network with the release of the Arcadia testnet.
Nodle is a decentralized network provider that specializes in detecting and connecting the internet of things (IoT). It currently connects over five million active nodes with over 92 million detected devices.
While Stellar has been able to handle Nodle’s heavy traffic of 1.3 million daily transactions to date, the company believes it needs to deploy its own blockchain to accommodate some of the advanced features envisioned in its whitepaper.
Nodle’s blockchain architect, Eliott Teissonniere believes that interoperability is the key to the future success of its Arcadia blockchain. It is being built on the Parity Substrate framework and employs modular design with an eye on becoming Polkadot’s parachain. Parachains are specialized blockchains that make up the Polkadot network.
Nodle Cash — betting on the future
Nodle Network participants earn Nodle Cash. Unfortunately, the cryptocurrency is not listed on exchanges and doesn’t have any monetary value as yet. Teissonniere told Cointelegraph:
“It’s a bet on the future. And essentially, they’re going to be able to use it in a few weeks to interact. So we were going to open a customer interface. And so you’ll be able to use another currency that you’ve earned to develop the fine stones, to set up playbooks to connect your own devices.”
Nodle co-founder and CEO, Micha Benoliel explained they wanted to “build enough demand and have the ecosystem sufficiently mature before we list it.”
He also noted that the company has been able to achieve “presence on almost 20 million monthly smartphones” by offering app developers Nodle Cash as compensation.
Nodle Vs. IOTA
Benoliel believes that Nodle is a “great alternative” to IOTA and that his company’s strengths are its concrete use cases and interoperability. Although Teissonniere is reluctant to name the exact date for the release of the mainnet, he expects deployment in approximately six months.
IOTA still recovering from a major hack may present Nodle with an opportunity to carve out a nice chunk of the IoT blockchain market.
Source: https://cointelegraph.com/news/nodle-outgrows-stellar-begins-to-migrate-to-own-blockchain