An app that allows users to earn a Stellar-based token by providing last-mile access for internet-of-things (IoT) devices is now live on Apple’s App Store.
The company claims to process one million micropayments daily on average, giving a very high transaction volume for its NODLE token. While the app delivers on one of the promises of the decentralized web, the prospect of users getting paid for providing data or services, the token itself isn’t listed on any exchanges yet. Users can trade NODLE peer-to-peer but recouping any value for them isn’t yet feasible.
“We believe the value of the coin will be directly supported by the demand for the network and its services. The only way to get Nodle Cash today is to generate it on your phone,” Benoliel said. By adding iOS, the company believes it can vastly increase its user base.
Nodle enters much the same space as Helium, an IoT network built around dedicated hardware devices that are fairly expensive for an average user.
Nodle has the advantage of running on equipment that users already have, but it’s limited by the range of those devices. One Helium node can cover a wide area using its longfi technology, which also has the advantage of passing easily through many materials. While Helium may have more friction, a few nodes can cover most American cities, according to the company.
That said, in a future where there are vastly more connected devices than people, there may be room in the market for many last-mile solutions for data.
It only takes one smartphone passing by every now and then to work for the use cases Nodle has in mind. “When smartphones connect back to cellular or WiFi, the data from these sensors gets pushed to the cloud using the Nodle Cash app as a relay,” Benoliel explained.
Ideal use cases for Nodle include smart-city solutions, where sensors collect needed data but real-time updates aren’t essential. Benoliel said the city of Paris is using it to keep track of some specially designed park benches. Nodle uses the Bluetooth Low Energy standard.
It’s also useful for cheaply keeping track of physical items, even things as small as handheld tools or other equipment. Two partners that run data over Nodle daily are Chipolo (which keeps track of very small items, like keys) and Pawscout, for pets, Benoliel said.
Nodle is an app that currently runs on the Stellar blockchain. It’s also currently developing on a Polkadot substrate with plans for NODLE to be interoperable between the two chains.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.