Users of the Nodle Cash app are able to earn passive income through Bluetooth connectivity.
Let’s learn how Nodle Cash works.
Nodle – built on a Bluetooth Low Energy (BLE) network – is a connectivity provider for the Internet of Things (IoT). The network helps companies and cities collect data from their devices, sensors, and tags.
The Nodle Network can help manufactures/operators of electronic devices collect valuable data and also help companies locate their assets all over the U.S. In regards to empowering individuals, the Nodle Network allows for individuals to participate through the Nodle Cash smartphone app. The individuals participate through “proof of connectivity” where they are rewarded with Nodle tokens, which we touch more upon this below.
The Nodle Network’s design leverages “The Smartphone Infrastructure,” which utilizes smartphones as nodes and base stations for the network to lower connectivity costs. The team developed a way to grow the network via “proof of connectivity,” which verifies IoT data in the cloud. Through this “proof of connectivity,” mobile application developers and consumers participate in the network to provide bandwidth and wireless radio.
Nodle Cash is the project’s native cryptocurrency and has a fixed supply of 2.1 billion.
You earn when your phone connects and collects data from other IoT devices via the BLE network. From there, the information is sent back to the owner of the IoT device that you collected the data from. Nodle states that your personal data is not shared with the owner.
- Send payments/request payments or save for the future (Nodle Cash is currently not on cryptocurrency exchanges, but Nodle is looking into this).
- No fees when transferring – Nodle pays for the fees.
- Prove an IoT device is legit via wireless network service (connectivity) and security certificates.
How to Use the Nodle Cash App to Earn Passive Income
Setting up the Nodle Cash app is fairly straightforward:
- Download the Nodle Cash app off the App Store (iOS and Android compatibility).
- Create a username/password.
- Turn on Bluetooth in your phone’s settings.
- Start earning.
Once your Nodle Cash app is set up, the app tracks how much data your phone transfers for IoT device(s) and will then award Nodle Cash accordingly.
Global warming is an immediate threat, and part of the problem lies in electrical consumption. Electrical consumption isn’t slowing down anytime soon. Thus, Nodle looks to improve this issue through The Citizen Network. The Citizen Network is a global IoT network that lowers devices’ electricity consumption.
Nodle’s network uses the lowest form of connectivity – Bluetooth Low Energy. BLE consumes around 3% of the electrical power required by WiFi when transferring the same data – 33x more efficient as compared to WiFi.
Smartphone Energy Consumption
At this point, you may be concerned about the energy consumption from this app and how it will affect your smartphone’s battery.
Nodle addresses this concern by offering two modes to their users on the Nodle Cash application:
- Eco Mode: The app will only run as long as it is open. This mode is designed to use 1-3% of your smartphone’s battery per 24 hours – depending on several factors.
- Pros: More resource-friendly.
- Cons: Earn less and find fewer IoT devices.
- Expert Mode: This mode is designed for users who want the best performance Nodle has to offer.
- Pros: Earn more.
- Cons: Less resource-friendly – this mode forces the app to run in the system’s foreground.
Mining for the Nodle coin is similar to mining for Bitcoin – Nodle coins exist in the protocol’s design. Nodle’s “proof-of-work” is called “proof of connectivity,” where the data that is usually difficult (costly and time consuming) is now made easier via “miners” (users of the Nodle Cash app). Proof of connectivity defines each miner’s contributions to the network to validate whether or not a miner has performed work.
A potential issue we see with this project involves user onboarding. Since Bluetooth is needed to connect to IoT, there may be an issue in the network when multiple users try to connect in close proximity (due to it using Bluetooth connectivity). So far, we don’t see anything about how Nodle would address this issue, so it will be interesting to see what solution they propose.
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