PKT: A Community-Driven DePIN Project Revolutionizing Internet Access and E-Commerce Payments
PKT, a community-driven DePIN project, is on a mission to tackle the issues of limited internet access and centralized e-commerce payment processing. The project aims to create a more open and accessible internet while providing a decentralized alternative to traditional payment systems.
Access to the internet is essential for communication, education, and economic engagement. However, as of 2022, the International Telecommunication Union (ITU) reported that 2.7 billion people worldwide still lack online access. This is due to the control of internet infrastructure by a few large telecom companies, resulting in high prices, poor service quality, and in some areas, no service at all. In the US alone, over 40 million Americans lack affordable, high-speed internet, with average monthly costs reaching $75 by late 2022. Although internet access is more widely available internationally, it is still limited outside of metropolitan areas.
Moreover, traditional internet setups are susceptible to government censorship and surveillance. Reports from Access Now and #KeepItOn in 2023 highlighted a decline in internet freedom, with governments increasingly using censorship and surveillance to control online information.
To address these challenges, PKT introduces the concept of decentralized physical infrastructure (DePIN). This approach empowers individuals to own and contribute to physical infrastructure networks, enabling a peer-to-peer mesh network that connects devices to the internet through each other. It functions as a global Wi-Fi network, creating a resilient, censorship-resistant, and high-speed data network.
PKT leverages the cjdns peer-to-peer routing protocol to build a global mesh network powered by the people. Instead of relying on centralized data centers like Google, Amazon, and Microsoft, PKT distributes the workload to devices contributed by individuals worldwide. This shift reduces dependence on corporate entities, promotes internet freedom, and economically benefits those who contribute to the PKT Network’s infrastructure.
PKT’s ultimate goal is to democratize internet access by incentivizing individuals to share their internet resources and participate in creating a decentralized mesh network. Through its innovative proof-of-work mechanism called PacketCrypt, PKT rewards miners with PKT Cash ($PKT) for contributing bandwidth and CPU power. The PKT Network operates as a VPN-based network, ensuring end-to-end encryption for all data transmission and providing native privacy and security.
Mining PKT is accessible to anyone with an internet-connected device and sufficient CPU power. This allows people worldwide to support the PKT Network’s infrastructure expansion, contributing to greater internet access for all.
In addition to revolutionizing internet access, the PKT Network offers a new payment solution for the decentralized web. By hosting websites with PKT payment addresses, individuals can facilitate peer-to-peer e-commerce transactions with minimal fees. The PKT Lightning Network, a layer-2 payment protocol, enables website owners to accept payments directly without relying on traditional e-commerce payment processors. This eliminates high processing fees, revenue reserves, and restrictions based on geolocation or local laws. Furthermore, the PKT Network’s decentralized nature makes it immune to censorship or manipulation by governments or ISPs. All traffic on the network is encrypted, ensuring user privacy and protecting online activities from unwarranted scrutiny.
PKT is a community-driven DePIN project that mirrors Bitcoin’s origins, with no pre-mine, ICO, founder shares, investor shares, or venture capital. Led by Caleb James DeLisle, PKT’s lead developer, the project’s core objective is to transform how people engage with the internet in their local communities.
DePIN blockchain projects like PKT are poised to democratize internet access, foster free speech, and cultivate a transparent online environment. By expanding global connectivity, collaboration, and prosperity in a borderless and decentralized digital world, these projects make it possible for anyone to claim their stake in the internet.
To learn more about PKT and its innovative solutions, visit their website.