NKN (NKN) API and Price Oracle

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NKN

NKN
$
Information
For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
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0x5Cf0...c9eb
Network
Blockchain network where the asset is deployed
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Ethereum
Methodology
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
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MAIR
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
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120s
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
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Source
Volume 24h
Trades 24h
Pairs
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Token information

What is NKN (NKN)?

NKN (New Kind of Network) is a blockchain-powered decentralized network infrastructure that aims to create a secure, scalable, and open network for the future. Founded by Yanbo Li in 2018, NKN seeks to revolutionize communication and data transmission by using blockchain technology. The project's name reflects its mission to redefine traditional networking protocols and provide a new way of connecting devices and services. Key features include peer-to-peer communication, security, and high data transmission speeds.

How does NKN work?

NKN, which stands for New Kind of Network, is a blockchain-based project that aims to create a decentralized and secure network infrastructure. It utilizes the underlying technology of blockchain and is built on the Ethereum blockchain.

At its core, NKN is designed to facilitate data transmission and communication between different devices in a peer-to-peer (P2P) network. It employs a unique protocol called the Named Data Networking (NDN) protocol, which replaces the traditional internet protocol (IP) with data-centric routing.

In NKN's network, devices are connected through a series of nodes that relay data packets using the NDN protocol. These nodes, referred to as "relay nodes," are responsible for forwarding data packets to their intended recipients. This decentralized approach ensures that the network is resilient to failures and censorship.

The NKN ecosystem also includes incentives for participants to contribute their network resources. Node operators can earn rewards by providing network coverage and relaying data packets. This incentivized model helps in creating a more robust, secure, and efficient network.

Overall, NKN aims to revolutionize the internet infrastructure by creating a decentralized and efficient network based on blockchain technology. Its vision is to provide a more open, fair, and secure internet, empowering users to have greater control over their data and online experiences.

What are the benefits of NKN?

NKN, also known as New Kind of Network, offers several benefits compared to its direct competitors. One of the key advantages of NKN is its focus on providing a decentralized and secure communication infrastructure. Unlike its direct competitors, such as Neblio and Blockcloud, NKN uses a novel approach called Cellular Automata to achieve high scalability and network resilience.

NKN also emphasizes privacy and data integrity. By leveraging blockchain technology, NKN ensures that communication across the network remains secure and tamper-proof. This is in contrast to competitors like IOTA and IoT Chain, which may rely on centralized systems or less secure consensus algorithms.

Another notable benefit of NKN is its cost-efficiency. The network incentivizes participants to share their network resources, creating a decentralized marketplace for data transmission. This approach enables NKN to offer competitive pricing compared to competitors like Helium and RightMesh.

Furthermore, NKN focuses on interoperability by integrating with various blockchain platforms and protocols. This allows it to seamlessly connect with other decentralized applications and smart contracts. In contrast, competitors such as Skycoin and Substratum may have more limited integration capabilities.

In summary, NKN brings several benefits to the table when compared to its direct competitors. These include a decentralized and secure communication infrastructure, privacy and data integrity, cost-efficiency, and interoperability. Its unique approach and focus on these aspects set it apart from other projects in the space.

What is NKN used for?

NKN, which stands for New Kind of Network, is a blockchain-powered project that aims to decentralize and improve the efficiency of the internet. It utilizes a token, also called NKN, to incentivize participants and support its network infrastructure.

NKN has several use cases, with the most common ones being data transmission and connectivity. The project aims to create a decentralized network of nodes that can relay data packets and improve the performance of internet connections. This can be particularly valuable in areas with poor internet infrastructure or for applications that require low-latency communication.

One specific use case of NKN is in the field of Internet of Things (IoT). With the increasing number of connected devices, NKN can provide a secure and efficient network for these devices to communicate with each other. For example, in a smart home environment, NKN can enable seamless communication between various IoT devices, such as smart thermostats, security cameras, and smart appliances, without relying on a centralized intermediary. This can enhance the privacy, security, and reliability of IoT systems.

Overall, NKN's goal is to revolutionize the way information is transmitted and to create a more decentralized and efficient internet infrastructure. Its use cases range from improving internet connectivity to enabling secure and efficient communication for IoT devices.

What is DIA's NKN API?

DIA's NKN API is part of DIA's comprehensive suite of API endpoints that provide real-time price feeds for different crypto assets. These price feeds are constructed by aggregating raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in a robust and reliable source of information.

While DIA does provide free API endpoints for developers to test, the real value lies in DIA's custom feeds. These custom feeds can be tailored to specific requirements, allowing users to define their preferred sources, methodologies, update mechanisms, and more. To request a custom feed, users can reach out to DIA via Discord or Telegram.

The use cases for DIA's API are numerous within the blockchain ecosystem. In the realm of DeFi, the price information from DIA's APIs can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Similarly, in the NFT space, DIA's API can enable peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other innovative applications.

APIs, or Application Programming Interfaces, serve as intermediaries that allow different software applications to communicate and interact with each other. In the context of DIA's API, it enables developers to access and utilize DIA's accurate and up-to-date price feeds in their own applications or smart contracts.

In summary, while DIA does offer free API endpoints for testing purposes, the true power lies in DIA's custom feeds. These custom feeds provide flexibility and customization options that cater to specific user requirements for a wide range of use cases in DeFi and NFT markets.

What is DIA's NKN price oracle?

DIA's NKN price oracle is a smart contract that provides real-time price feeds for crypto assets. DIA offers a wide range of price oracles by integrating with over 35 layer 1 and layer 2 networks. These oracles are constructed using raw data from more than 85 on-chain and off-chain cryptocurrency and NFT exchanges, ensuring accurate and reliable price information.

While DIA provides free demo oracles for developers to test, these are intended for testing purposes only and cannot be integrated into production applications. However, DIA offers the flexibility to create custom configuration for price feeds. Users can request a dedicated price feed oracle tailored to their specific needs, including sources, methodologies, and update mechanisms. To request a custom feed, users can reach out to DIA via Discord or Telegram.

DIA's custom oracles are particularly valuable as they allow users to obtain price data that is specifically relevant to their use case. This enables developers to build applications with greater precision and adaptability. The use cases for DIA's price oracles span across the blockchain ecosystem, including derivatives, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, and more in the DeFi space. For NFTfi applications, DIA's oracles can be utilized for peer-to-pool NFT lending, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other related use cases.

In the context of blockchain technology, an oracle acts as an external information provider that supplies verified data from outside the blockchain to smart contracts. It ensures that smart contracts have access to real-world data to execute their intended functionalities accurately and autonomously.

To summarize, DIA's price oracles offer a comprehensive solution for obtaining real-time price feeds across various blockchain networks. While free demo oracles are available for testing, users can request custom feeds to suit their specific requirements. With a diverse range of use cases, DIA's oracles provide valuable data for DeFi and NFTfi applications. For more information on DIA's oracles, refer to their documentation.

Why use DIA's NKN API & price oracle?

DIA's NKN API and NKN Price Oracle offer several benefits to users in the blockchain ecosystem. One of the primary advantages is the high level of customization they provide. Users can tailor each oracle and API endpoint to meet the specific requirements of their decentralized applications. This includes configuring data sources, applying data cleaning filters and pricing methodologies, and deciding on update mechanisms and frequencies. Such customization ensures that the data and oracle remain robust and resilient, ensuring accurate and reliable global and individual market pricing.

Transparency is another key benefit of using DIA's API and Oracle feeds. They offer complete and granular transparency throughout the data journey. Users have visibility into the data sources, cleaning filters, and pricing methodologies used. This level of transparency is crucial for building trust and ensuring the accuracy and integrity of the data.

DIA also provides various tracking and monitoring tools to help users closely monitor their oracle and API feeds. This allows for real-time monitoring of data sources, potential issues, and overall performance.

In summary, the benefits of using DIA's NKN API and NKN Price Oracle include customizable endpoints, robust and resilient data, transparent data journey, and comprehensive tracking and monitoring tools. These features make DIA's offerings a valuable resource for accessing accurate and reliable price data in the blockchain ecosystem.

Why use DIA data feeds and oracles?

Transparent
DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Customisable
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.