Bittrex Global announced PKT, the world’s first layer-1 blockchain for bandwidth, will list on its exchange later this month.
PKT is an open-source community project that monetizes unused internet bandwidth and provides an economic incentive for people to expand internet connectivity and network infrastructure with minimal technical knowledge required. The blockchain is Bitcoin-fork designed for microtransaction scalability with near-zero fees and 60 second block times.
PKT divides the Internet Service Provider (ISP) roles of infrastructure provider and network operator. In effect, this lowers the barrier of entry for entrepreneurs to become ISPs, and decentralizes internet access for billions of people worldwide.
We are excited to welcome such a unique blockchain project onto the exchange. Bittrex Global is pleased that it can serve as a vehicle of momentum for PKT and we look forward to seeing its many use cases come to fruition over the coming year.”
Stephen Stonberg, CEO of Bittrex Global
“I am excited to see the PKT community activated around the vision of taking the internet back from monopolistic telecom companies,” says Caleb James DeLisle, lead developer of PKT, “and for Bittrex Global providing the community with an on-ramp to participate.”
There are an estimated 200,000 cores mining the PKT Network globally and the mining pools have reported seeing over 100 Gb/s of sustained bandwidth, powered entirely by people from around the world. Mining difficulty and network bandwidth have increased more than 10,000% since January 2021.
The PKT Network use cases will include free VPN, launching in 2022, localized mesh networking, internet sharing, and a new token issuance protocol called Token Strike, which provides token and NFT issuance with near-zero cost gas fees. TokenStrike will launch in 2022 and enables anyone to tokenize and trade bandwidth in a decentralized bandwidth market. PKT is an internet built by the people, for the people.
About PKT
PKT is a decentralized high-speed data network that enables anyone to monetize their unused internet bandwidth. Powered by PacketCrypt, the world’s first bandwidth-hard proof-of-work, people who connect to the PKT Network are paid in PKT Cash ($PKT) every 60 seconds. PKT provides an economic incentive for people to grow internet connectivity and infrastructure with minimal technical knowledge. As the network grows, PKT drives bandwidth demand, which in turn drives down the cost of bandwidth, increases the speed of the PKT Network, and improves internet connectivity in both urban and rural areas worldwide. PKT is a decentralized community project with no company, no investors, and no pre-mine. The project is an extension of the open source cjdns mesh networking protocol, created by PKT lead developer Caleb James DeLisle in 2011, which makes it so people can get onto the internet without requiring a traditional ISP.
About Bittrex Global
Bittrex Global, the most secure digital asset exchange in the world, serves both retail and institutional clients, globally. Committed to helping users build wealth, Bittrex Global facilitates the purchase and trade of over 250 tokens. Through its use of cutting-edge technology, advanced security protocols, and a sophisticated elastic multi-stage wallet strategy, the company provides a high-level experience for professional and novice customers alike. Bittrex Global is a key player in driving widespread adoption of secure and decentralized methods to building wealth while remaining compliant and adhering to the wide array of regulatory measures across the globe.