- Nesten and IoTeX join forces to build the world’s most scalable and secure Web3 wireless network
- The DeWi startup says migration and adoption of W3bstream significantly facilitates its position as a leading Web3 wireless network
Nesten, a community-driven wireless network provider based in California, has decided to migrate away from their Layer 1 Ethereum-based blockchain to IoTeX’s more scalable, secure, and EVM-compatible multi-chain. The two startups have joined forces to build the world’s largest, most scalable and secure Web3 wireless network.
This move, Nesten announced, will also help them successfully challenge their competitors, particularly Helium, and become the world’s leading Web3 wireless network provider.
The Nesten team, led by their CEO and Founder Dr. Andrew Baek, analyzed several Layer 1 blockchains and decided to build on IoTeX because of its unique tools and middleware that connect real-world devices to Web3 quickly and inexpensively.
“Nesten has chosen IoTeX as its Layer 1 blockchain to build on because of its cutting-edge technology and W3bstream, the world’s first chain-agnostic computational oracle infrastructure that will help us migrate away from AWS cloud services as well,” said Dr. Baek. “After careful consideration and analysis, we concluded that W3bstream will help us reduce our go-to-market time and resources by at least 50%.”
The Nesten and IoTeX partnership is mutually beneficial as the former provides decentralized wireless connectivity for IoT devices, such as smart city sensors, supply chain asset trackers, and many other types of cellular-connected machines that IoTeX aims to bring onto its MachineFi platform.
“The AWS cloud infrastructure is centralized and costly, which is not in line with our mission to build a decentralized and distributed network,” said Dr. Baek. “IoTeX and W3bstream can improve the costs of building and operating our wireless communications networks ten-fold, and by utilizing blockchain to automate network operations and facilitate community-driven deployments.”
Fueling DeWi and MachineFi
IoTeX CEO and Founder Raullen Chai said that “after years of building independently in the Web3 and IoT sectors, IoTeX and Nesten are excited to formalize our partnership to fuel the decentralized wireless (DeWi) and Web3 machine economy (MachineFi) industries.”
Chai added: “Nesten has built state-of-the-art hardware for the connectivity industry that extends from long range, low power (LoRa) connectivity to 5G and beyond. The IoTeX platform will provide foundational tools and innovative products to secure their gateways to the blockchain and expand their Web3 business model.”
Unlike other DeWi projects, Nesten has prioritized user benefits and continues to build cutting-edge technologies to disrupt traditional telecommunication giants such as Vodafone, Telefonica, Verizon, T-Mobile, and AT&T, Baek said. “Unlike other DeWi projects, we have focused on delivering technologies that can bring tangible benefits to users,” he added.
Helping marginalized communities
Nesten is currently present in over ten countries worldwide with more than one thousand of its wireless nodes as proof of concept and services. They have also created wireless solutions for real-world problems in the health sector in India, where they provide essential wireless connectivity services for the delivery of primary medical care to marginalized communities.
“We have been working with JSV Innovation across rural communities in India, making basic healthcare services potentially accessible to millions of people,” said Baek. “Other countries in Africa and Central Asia have also shown great interest in this project, and we hope to see it working soon in more countries worldwide.”
Real-world viable solutions
“Our vision is to provide viable real-world decentralized solutions for several market verticals, including the mobility, e-commerce, health, advertising, and entertainment sectors,” the Nesten CEO added. “We are also developing decentralized infrastructure for communications, storage, and computing.”
Baek said Nesten has worked with PNI Sensor to build a complete, end-to-end platform of LoRaWAN-based smart parking systems enabled with real-time monitoring capabilities.
Returning user data ownership to people
The Nesten team says IoTeX shares their IoT democratization vision, as well as their mission to give data ownership back to users, build an unparalleled Web3 ecosystem, and ensure people benefit from their IoT devices and the value they generate.
IoTeX and Nesten first partnered in 2019 to collaborate on developing trusted blockchains and address the security and privacy of communications-focused IoT infrastructure and ecosystems.
IoTeX CEO and Co-Founder Raullen Chai explained that Nesten brings Long Range (LoRa) and cellular connectivity to MachineFi projects. “This means that anybody building on IoTeX can use Nesten to connect their IoT devices to the blockchain,” Chai added.
Nesten’s ultimate goal
Dr. Baek announced that Nesten is planning the launch of a pilot project in Orange County, Southern California, that will serve as a proof of concept for its decentralized 5G wireless networks.
“Today, even corporations struggle to secure financial resources required to deploy 5G networks, particularly in areas where legacy telecommunications technology already exists,” Dr. Baek said. “We have collaborated with a leading telecom equipment manufacturer for wireless coverage and performance of the potential sites in Orange County, and the pilot would be instrumental in validating the commercial viability of our hybrid strategy that includes both enterprise infrastructure and community-driven networks.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
