A full IoT Proof of Network participation crypto project build on Kadena
About the Project
Crankk is a pioneering decentralized network designed to bring IoT (Internet of Things) applications to the forefront through its unique integration with blockchain technology. Built on Kadena's robust Proof of Work (PoW) blockchain, Crankk utilizes LoRa (Long Range) gateway nodes regulated by Kadena’s Layer 1 Pact Smart Contracts. This configuration allows the network to bridge real-world IoT events with the security and transparency of blockchain. The primary mission of Crankk is to establish and operate a LoRaWAN network that offers extensive coverage for IoT devices, such as smart meters and GPS trackers. By participating in the network and proving their coverage area, node operators can earn tokens, making the Crankk ecosystem both a functional IoT network and a rewarding platform for participants.
The Crankk project is highly community-driven and open-source, promoting decentralization and collaborative development. Operating on Kadena’s multi-chain PoW network, Crankk ensures a secure and scalable environment for IoT applications. The network’s design not only enhances IoT utility but also provides a unique opportunity for individuals and organizations to contribute to and benefit from the growing IoT landscape. By integrating smart contracts and blockchain with IoT, Crankk is setting new standards for how IoT networks can operate securely and efficiently, driving innovation and adoption in the space.
Use Case
Crankk’s network is tailored to a broad range of IoT applications, offering reliable and long-range connectivity for devices that require consistent communication with minimal power consumption. One of the primary use cases is in smart metering, where the network enables real-time monitoring and reporting of utility usage, allowing for efficient energy management and billing. Another significant application is in GPS tracking, where Crankk provides secure and continuous location data for assets, vehicles, and individuals. The integration of LoRaWAN technology with blockchain through Kadena’s smart contracts ensures that the data collected from these IoT devices is not only accurate but also tamper-proof, adding an extra layer of trust and transparency.
Moreover, Crankk’s network is poised to play a crucial role in smart city initiatives, industrial IoT deployments, and other large-scale IoT ecosystems. The ability to automate processes, ensure data integrity, and make decentralized decisions based on real-time IoT data opens up new possibilities for urban planning, logistics, and industrial automation. For example, in a smart city context, Crankk can be used to manage and optimize traffic flow, monitor environmental conditions, and enhance public safety through a network of interconnected devices. The scalability and security provided by Crankk make it an ideal solution for these complex, data-driven environments.
Tokenomics
Crankk’s tokenomics are designed to promote fairness and incentivize participation within the network, particularly rewarding those who contribute to its growth and reliability. The native Crankk token is central to the network’s economy, with 80% of the tokens allocated to miners who operate the LoRa gateway nodes. This significant allocation ensures that the individuals and entities that maintain and expand the network’s coverage are adequately compensated for their efforts. By rewarding participants who prove their coverage area and provide consistent service, Crankk encourages the development of a robust and reliable IoT network, critical for its success and adoption.
Additionally, the Crankk project allocates 1% of the emitted tokens to finance the ongoing development and sustainability of the network. This allocation ensures that there are sufficient resources to support future improvements, development grants, and community incentives. The tokenomics also include mechanisms for staking, where users can stake their tokens to receive discounts on fees or share in the revenue generated by the network. This staking model aligns the interests of network participants with the long-term success of Crankk, driving both user adoption and token value. Through its carefully balanced token distribution and incentives, Crankk’s tokenomics are designed to foster a thriving ecosystem that benefits all participants.