Crankk$CRKK

What is this network?

Crankk, a Proof-of-Network-Participation distributed network built on Kadena's Proof of Work Network. The network is designed to enhance the existing ecosystem's utility into IoT applications. Crankk is a network of LoRa gateway nodes regulated by Kadena’s Layer 1 Pact Smart Contracts, enabling the integration of real-world events into Smart contracts and Blockchain technology. The goal of Crankk is to build and operate a LoRaWAN network providing coverage for IoT devices, such as smart meters, GPS trackers, etc. Node operators earn tokens by participating in the network and periodically proving their existing coverage area.

How can I mine tokens?

To mine Crankk tokens, you need to participate in the network. Crankk, which runs on a Raspberry Pi, communicates with the LoRaWAN network as well as the Kadena blockchain. The blockchain, in the form of Kadena Pact Smart Contracts, orchestrates the Proof of Coverage checks. It determines and checks regularity, directs the radio module to send a ping when appropriate, and reports to the blockchain when a radio ping is received.

To start mining, you need to buy a license and stake some Crankk tokens. The license costs 150 dollars worth of Cadena KDA tokens. Once you have the license, you can convert your device and stake to begin mining Crankk.

How can I optimize my mining rewards?

The Crankk network uses a ranking system that incentivizes high-quality and reliable services, ensuring that the best gateways receive the greatest rewards. The ranking algorithm is based not only on the location but also on average node uptime, network bandwidth, successful transaction processing, unique communication, and data traffic.

To optimize your mining rewards, it's recommended to place your gateway nodes within hearing distance of one another to ensure you're awarded. However, it's important to note that gateways clumped together and witnessing one another is detrimental to the coverage they provide. Optimally, they are separated by hearing distance or some fraction of it.

How can I use the network?

To use the Crankk network, you need to onboard your hardware onto the network. The Crankk team has developed custom software that allows users to onboard their own hardware on the Crankk network. You can also join the Crankk beta group to start mining Crankk.

Who governs this network?

The Crankk network is a decentralized, predominantly open-source IoT project driven by the community. It operates on the Kadena blockchain, which is a proven, robust, secure, multichain Proof of Work(PoW) network.

Funding

The Crankk project takes just 1% of emitted tokens to ensure and finance the continued development of the network. The tokenomics of Crankk was designed to ensure fairness first and foremost, as well as to reward early adopters with higher incentives. 80% of the tokens are allocated for the miners.