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in this video i'll be reviewing a project that goes by the name of the nodal network they've been building since 2017 so their development is by no means in the early phases this is a project that has proven itself by keeping their heads down and going to work they already received a web3 grant and as you can see here they're in the substrate builders program as well but what's even more impressive than that is noodle is already integrated in the polka dot extension wallet and ui yeah this is a very exciting project which will be offering decentralized iot or internet of things solutions that deserves your attention so without further ado let's break this bad boy down so what is this internet of things hi everyone my name is misha benoliel i am the co-founder and ceo at noodle a crowd source connectivity solution to connect the next three things to the internet is the crypto lifestyle baby welcome back to another video if this is your first time here my name is francis and on this channel we emphasize the importance of crypto mass adoption decentralization and other bitcoin related stuff that could bank us coin so if you want to learn more do that by subscribing and hit that bell notification button so you don't miss anything so what exactly is the nodal network well they're in the iot or internet of things global market which is expected to grow and almost double within the next five years from 761 billion in 2020 to 1 386 billion us dollars in the year 2026 so this is a growing industry collecting sending receiving and acting upon information or data is a huge business as you can see here from the nodal analytics and metrics nodal already has over 20 million monthly active smartphones connected to their network experiencing a growth of roughly 38 per year along with 25 million devices discovered per day oh yeah and they have active wallets that's gone up 60 x over the past year as well but before we dissect what noodle represents you need to grasp the basic understanding of what the internet of things is iot technology has the capabilities to immensely change our lives in regards to how we interact with one another especially the way we collect and send out information or making any form of data transferable and or compatible but this mechanism is not limited to only computers cell phones and or human beings we could actually connect anything you could really think of from our refrigerators all the way down to our pet dogs to the internet of things let me just give you guys a couple of examples with real world use cases of iot devices i'm gonna use everyday example that you're more commonly familiar with from your home to make it a bit easier for you to comprehend today it's quite natural and normal for us to connect to the internet through our mobile devices or today we now refer to our mobile devices as smartphones where we can send emails visit websites shop online and even watch videos where most of you are probably watching this video right now from but do you remember when your phone was not a smartphone and was not able to connect to the internet it was just a device where you know you could probably call someone or someone could call you back and perhaps exchange text messages well your smartphone is a perfect example and one of the first if not the first use cases of the internet of things however mr elon musk the richest man in the world and tesla took iot technology to a whole new level and made the automobile not just a regular automobile anymore it's now a software driven internet of things vehicle just like how your cell phone was linear and could only receive or send calls under attacks the same is true with these tesla cars they aren't just capable of getting you from you know point a to point b by manually driving but functions can be done remotely through the global wireless industry called the internet of things which will allow this car to self-drive provide data like say high-definition maps and update operating system software all on its own through iot technology the foundation of this brilliant tech really comes down to three functions and that begins with number one collecting and sending information and then number two receiving and acting on information and lastly number three doing all of the above collecting sending receiving and acting on information if we take the simple example of say a smart kitchen which there is a real business behind this but smart kitchens utilizes the iot technology by connecting appliances things like stoves kettles sinks etc etc we have a prime example of it doing all of the above so lg the company has a smart fridge that can execute point number one which is collecting and sending information to your mobile device for example if you accidentally left your refrigerator door open the smart fridge will use iot technology to send a notification or data to your phone notifying you that someone left the door open and with smart stoves you can execute point number two which is receiving and acting on information this is a digital thermometer that connects to your mobile device it gets a calibrated temperature that reads and matches it with gourmet recommendation presets so if you wanted to say automate your cooking you know a ribeye steak for example notifications can be sent to your device indicating you when to flip that steak and nobody likes rubbery hard stick then we have something called happy fork this example can execute point number three which is collecting sending receiving and acting on information believe it or not for whatever it's worth happy fork is the smart fork you need if you're trying to keep the tabs on your food intake the utensil has sensors that will determine if you are eating and wolfing down food too fast the fork actually vibrates and lights up signaling you to slow down this is because proper pacing helps in weight loss and avoiding digestive problems so it acts on its own through iot sensors without the need for you to send information in order to collect data and shoot out results for you again i chose these basic everyday examples that's relevant to you in the hope that you better understand how iot works and i mean there are a lot of better use cases than having vibrating forks and stoves that can talk to you the iot technology is very prominent in the agricultural and farming industry where farmers has the ability to now self-automate some of their duties through sensors which essentially streamlines irrigation systems this is made possible because these devices receives information about the weather from the internet connection it can also detect when it's going to rain and decide not to water the crops because they will be watered by the rain anyways now all of these things sounds very cute and cool and everything which it is but there's a huge massive massive issue here with these centralized iot companies they are prone to privacy and security vulnerabilities just imagine all of your everyday appliances becomes connected to the damn internet that's a heck of a lot of information rather that is readily available it makes it harder to keep confidential information out of the hands of say hackers and unauthorized users and even the centralized company in itself who may sell your data to advertisers i'm so sorry guys i actually hyped up this story just to break it all down but we have a solution ladies and gentlemen and that's where the nodal network comes in we need the right network to connect to not just any and any network especially a centralized one we need a network that isn't going to steal our data and track our every step we need a network that consumes a low energy and in a perfect world it has to be decentralized well let me tell you something noodle checks all those boxes in an article i stumbled upon written by techcrunch.com ceo himself alicia benolile said the nodal sdk could also work alongside advertising sdks from carriers and oms one main difference though we don't need to know anything about users we are not interested in users data and devices ids are also anonymized now that's the type of company i would love to support noda's vision is to create the largest decentralized data hub which provides a connection that can process micro payments for the internet of things and over the years they have actually achieved exactly that if we look at this diagram it shows the other big players in the game for example helium only has thirteen thousand base stations opposed to nodal who has over five million an iota has a complex method to process data opposed to nodal which can start this process seamlessly within minutes the list continues with the likes of say apple samsung and all the way down to amazon sidewalk which requires specific and unique devices to connect opposed to nodal which enables any device that's compatible with bluetooth low energy to join the network instantly and we all got bluetooth on our phones now come on unlike most centralized iot networks out there that only relies on 3g 4g or 5g nodal distributed network is a pure software solution that deployed the use of bluetooth low energy which they refer to in the short form as ble which is a wireless interface that can support any wireless protocol and is also far more efficient and effective if you want to be a contributor to the crowdsource iot network you can monetize your connectivity and all contributors will be rewarded for participating within the network which we will get into in about a minute but one of the things i love the most about the neural network is unlike traditional and centralized networks who collects personal and identifiable information the nodal sdk provides a privacy-centric alternative to monetize and does not collect pii or personal information from the network contributors or what they refer to as edge nodes the nodal network does not collect phone numbers names contacts pictures or anything of this description from edge nodes or those connected to the network however for the purpose of asset tracking of iot devices the nodal network may temporarily collect the geolocation of the edge node or network contributor just like other blockchains the neural network has its own native cryptocurrency which is used to pay for network fees very similar to how bitcoin is paid for miners on the blockchain and how ethereum is also paid to miners on the ethereum network the same is true for nodal nodal cash will be paid to edge nodes as mentioned earlier who are contributors of the network through a proof of connectivity algorithm by creating and providing network coverage for subscribers it's important to note ladies and gentlemen 60 of the supply will be slowly released to these proof of connectivity contributors which is how a true decentralized network should operate save the majority of the supply for those who play an important role within the network and they will earn normal cash opposed to having that supply being circulated or just sold to wales as we can see here on the pie chart which displays the token distribution nodal cash can also be used for governance to weigh in votes to make decisions within the network and the ecosystem this governance system is structured in three chambers the first is the root committee who chooses them the members of every committee the second is the technical committee who is responsible for pushing upwards and performing simple fixes lastly the financial committee who is in charge of the company fund and chooses how to allocate them it's worth noting with noodle you actually have the ability to do things like monetize your existing cellular infrastructure through noodles iot network which is pretty neat and i gotta say i can't cover that in this video however i will most certainly cover that in my next nodal video in the very near future so you're probably wondering who are the people behind nodal while they have a very fairly large team but at the helm is co-founder garrett kinsman and ceo misha benalile who in 2004 built the first telco to enable communications for skype you can find quite a number of videos on youtube there is one in particular where he was a guest speaker on techcrunch i highly recommend you guys take some time and check that out as mentioned at the top of this video the nodal network is already integrated within the polka dot network if you the polkadot extension wallet head on over to the ui click the drop down menu and change the network to neutral network and there you go it will then populate many projects are piggybacking off of the word polka dot misleading the crypto community for marketing purposes but not nodal these guys mean business and this is a project that deserves your attention so check out the telegram and website i'll leave the links to that in the description box and also in the comment section below i most certainly will be doing my part by covering them and paying very close attention to their developments in the weeks and in the months to come and do be on the lookout for my second nodal video as we will be covering how to monetize your existing cellular infrastructure i hope you learned something from this video i hope it gave you some value and i also hope you got a much better understanding on how iot technology works and what the nodal network is all about so you know what there really isn't much left to say other than until the next video you're on your own man later