In the middle of Koreatown, a Korean-led start-up called ‘Nesten’ is a hot topic.
The items of Nestens, where Dr. Andrew Baek, a Korean American, took the lead in technology development as CTO are the Internet of Things (IoT) and block chain technology. Both technologies are attracting more attention because they are cutting-edge fields. The company has high expectations not only for hardware software but also for networks using the hardware. Its vision is also to revitalize a networked community.
Nesten(네스텐) started combining blockchain and business model in 2018, and since the beginning of this year, has built blockchain and applied wireless communication networks intensively in Texas, and is operating pilot services in the East and South Korea. Briefly, information and data created on the terminal device are transmitted to remote locations with transparent and perfect security using block chain technology. In particular, in the case of wireless communication, there was a practical difficulty in not being able to use it because it was anxious that someone intercepted it in the middle, but Nestensa broke through this with blockchain technology. The hardware also boasted of its technological prowess by developing the G1, which acts as a router. Also, Nesten is paying attention to the Internet of Things market. It focused on a transmission technology called LoRa, which made it possible to reach a relatively long distance of 10 miles.
Dr. Andrew Beck said, “It is more realistic for wireless communication companies to come to blockchain than for blockchain companies to jump into the wireless communication field. I am confident. The G1, a device that acts as a gateway, has also been developed.”
So, what is the role of the community in a highly secure network? What makes Nesten(네스텐) different from other technology companies is the reward. An ecosystem will be created by adding a token mining function to the place where data is created. The reason why tokens and ecosystems are paired is that you have to pay every time data is generated, and if it is too expensive, it is difficult to activate. Therefore, the communication fee can also be a big burden to users, so it was designed as a solution to reduce costs using block chains and cryptographic assets. Paying for regular users. Thanks to this, crowdfunding through coins is also possible.
On the 29th of last month, Nesten started a full-fledged crowdfunding project by listing its own currency coin, NIT (New IoT Token) through the LA Token exchange. Here, LA Token recorded the 7th largest trading volume in the world in the second quarter, and is a fast and secure decentralized exchange visited by more than 1.4 million monthly visitors.
Through its partnership with LA Token, Nesten(네스텐) is providing participation opportunities to small and large investors who want to invest in the company’s advanced blockchain technology and its potential in the Internet of Things market. The first funding project is from the 29th to August 18th, and the second is from August 19th to September 15th.
Dr. Andrew Beck majored in physics at Cornell University and received his PhD in Electrical and Electronic Communication Engineering from UPenn. He has since worked for Lucent Technology Bell Labs, and has since founded and served as CEO of Troy Com City Earth Systems, a technology company. At Nesten, he is the Chief Technology Officer (CTO), but he is also the de facto CEO.
Originally Posted: https://news.koreadaily.com/2019/08/12/society/community/7508048.html
네스텐 | MWC LA 2021 