Good morning.

There is going to be another people's network, this time from a company called Crankk. It is being built on the Kadena network. Much like Helium, Crankk will use  POC (proof of coverage) to reward miners with the new Crankk token. There will be 'new and improved' witnessing using a Trusted Third Party(TTP) system. These TTP's will be randomly chosen to verify communication between nodes/miners.

Crankk did not want to build its own blockchain and chose Kadena as a fast layer 1 blockchain with inexpensive gas fees (paid in Kadena)as well as easy to use smart contracts for the payment of the Crankk tokens.

They do not plan on having a pre-sale of tokens so the only way to get them is to earn them, the total supply of Crankk tokens is 10 million per Kadena chain and it has 20 chains. The plan with this is that the first investors will be more incetivised but buy using a different chain after every 10,000 miners there will be a more fair distribution of tokens and first investors on each chain.

As for allocation of tokens 80% go to miners and 8% to the project. The tokenomics does not yet state where the other 12% is going.(With Helium 55% goes to the miners.) Also if the average ROI goes above 6 months then tokens will be evenly distributed over 20 years according to the documentation.

The miners themselves are built with Raspberry Pi chips, have a low power usage and cost $499 plus shipping and come with a basic antenna. There is some talk about these miners being open source and therefore you could build your own and just pay for a 'key' to onboard to the network.

Now my personal opinion is that Helium has a rather large Lorawan network already that is strggling to find adoption and companies to use it so how would a second network manage?

It all sounds good, it is like they have seen the problems Helium has and have tried to improve on them but will they be able to build the network of Miners that they need to provide the coverage?

Personally i will not be purchasing a Crankk miner but may consider making one if it does become open source (well David will!) as we do have a few raspberry Pi's.

As always, thank you for reading and feel free to comment.

Crankk logo from Twitter