Kandola Network Incentivized Testnet Program is set to launch on 1st March 2024, representing a key milestone towards the blockchain’s dream for decentralizing global data.
The Kandola Network incentivized testnet program will pave the way for mainnet launch in July this year, the phase which will take 6-months is a crucial program through which interested stakeholders will test the perfomance, quality and robustness of Kandola’s decentralized database network.
In a nutshell, the last two years have witnessed Kandola build a dedicated protocol, publish a body of scientific work to back their project, kickstart their Testnet with leading node providers and design an excellent tokenomics model.
By the start of 2024, Kandola had already started reaping the benefits of building during crypto winter. As the network prepares for launch, it already has an oversubscribed client pipeline, a long list of strong investors and an excellent product.
Kandola Network aims to disrupt data retrieval, storage, integrity, security and privacy by implementing a decentralized model that focuses on security and scalability.
By blending data processing, smart contracts, artificial Intelligence and machine learning, the platform aims to deliver advanced real-time analytics to not only Web3 DApps but also traditional Web2 sectors like healthcare, internet of things, gaming, social media and much more and bring them closer to the realms of using and benefitting Web3 infrastructure.
Details about the Kandola Network Incentivized Testnet Program
The upcoming Kandola Network Incentivized Testnet Program will last for six months before it paves way for a Mainnet launch in July.
According to the team, they will go into mainnet and launch the official Kandola token (KAN) once all the phases of the Testnet program are successful. Target date for TGE is Aug 15th, 2024.
The mainnet will mark the start of an era for data storage and retrieval at an age where massive data sets are centralized and lack integrity.
Systems will have to handle volumes of data per second in the near future, and without processes to synthesize such data quickly and reliably will only result in ineffectiveness.
Even the Military itself acknowledged the role of data in this CNN release where an Air Force official stated soldiers will have to synthesize dizzying amounts of data per nanosecond to battle effectively.
This exigent role of data in everything, from warfare, manufacturing, business, 5G networks, IoT devices, finance, investing among others underscores the significance of Kandola Network.
Even with this large volume of data, the network wants to do the tough work for businesses and individuals by authenticating each piece of information that goes through a device or application.
Why Kandola Network is the Future of Decentralized Databases
What sets Kandola apart from existing data solutions is its decentralized model. Centralized data solutions have existed long enough for us to learn their disadvantages.
If it’s not censorship, its a security breach or worse, packaging our data into a product and selling it.
Besides, most people are uncomfortable with the high cost of getting a decent centralized storage.
Apart from Kandola, there are several other data storage mechanisms such as renting 1 MB of storage on Ethereum for $17,000. No matter the depth of a business’ pocket, this is such a high cost for decentralized applications and businesses that rely on data on a daily basis.
Besides, DApps that cannot afford this cost need to rely on centralized data solutions, which introduces an even bigger problem for a decentralized application. Remember, it’s problematic to call an application decentralized while it keeps on relying on centralized data.
This alone, makes the app centralized and hampers the industry from discovering the application’s full potential.
The team is inviting interested individuals to join Kandola Network Incentivized Testnet Program this March. By participating in the Testnet phase, you will receive free TestNet tokens (TKAN), which are redeemable for mainnet tokens on the launch day of KAN tokens in August.
Meanwhile, only members who take part in the mainnet will be able to redeem their TestNet tokens, at the end of the Testnet phase, each TKAN will be added to the node’s stake pool.
A Message from Siddharth Banerjee, Kandola’s Founder and CEO
Siddharth Banerjee, the founder and CEO of Kandola Network expressed his enthusiasm for the upcoming Kandola Network Incentivized Testnet Program by stating that the phase will allow anyone to take part in testing and refining the protocol, which will result in a massive upgrade for Kandola’s security, stability, performance and scalability.
Kandola is inviting you to explore its network by accessing detailed information from its official website and also connect with the platform’s social media handles to get latest updates on X, Discord, Linkedin and Telegram.
About Kandola Network
Kandola Network is a decentralized data platform that can be thought of as a marketplace for democratising data storage, data processing and data exchange. Basically, customers store their data on the network by pulling it from various sources to create one source.
Those who intend to view the data can do so efficiently from one place. Moreover, the network also provides Artificial Intelligence and Machine Learning Models to train and analyze existing data before it’s integrated into applications.
One of the highlights of the Kandola Network is making sure the data is safe and accessible at the click of a button.
