Frequently Asked Questions (FAQ)
What is the Nodle network?
The Nodle network is a decentralized Bluetooth network built with smartphones by thousands of people like you. Every smartphone serves as a node of the network helping transmit data from Bluetooth devices to their owners. The network is built using Bluetooth Low Energy (BLE), making it mobile-data friendly and power-efficient.
How is the Nodle network used?
The Nodle network is currently being used for tracking an asset's location, primarily through iBeacons. It allows tracking parcels, finding lost or stolen electronic devices, locating leased vehicles, etc. In the future, it can be used to manage any Bluetooth device, for example, weather monitors, traffic lights, health monitors, etc.
How does the Nodle Cash app work?
All you need to join the Nodle network is to install the Nodle Cash app and enable Bluetooth and location sharing in the phone settings. Once you do this, your phone becomes a node of the Nodle network, helping transmit data from Bluetooth devices around you. The information is then sent back to the owner of the Internet-of-Things (IoT) device. Your personal data is not shared with the owner.
To better understand, increasingly more and more Internet-of-Things (IoT) devices with sensors all around us need to transfer data back to their owners but only have Bluetooth radios in them (e.g., no WiFi or LTE). The Nodle Cash app uses the Bluetooth radio in your phone to connect to these IoT devices and securely transfers the data from Bluetooth to LTE to whatever company owns the device (e.g., an e-Scooter, a pet with a tracking device, a cargo with a sensor). The data collected includes mac address, geolocation, broadcasted beacon, and any specific data, which can be sent to/from a device depending on its type.
How is my location used?
The location of your device is only used to compute your rewards based on your contribution to network coverage, and locate Bluetooth devices on request of their owners. The location is never used for any other purpose, shared or sold.
What is the NODL token?
NODL is the native cryptocurrency of the Nodle Network. It creates an incentive for participants like you to come and grow the network.
How are rewards calculated and allocated?
The amount of rewards you receive depends on your availability and quality of data you transmit, and the number of people building the network. The total amount of rewards is set per day and is shared among all network participants. The amount of rewards you receive will reduce over time as the network grows. However, the bigger the network, the higher the NODL token price on the market.
Rewards are calculated and allocated every 4 hours based on your and network activity from the time of the previous allocation.
How can I earn more rewards?
Our app is specially designed to run at all times in background without impacting the user experience. All you need to get rewards is to keep the app running. The more time you stay online, the more rewards you get.
How can I cash out or exchange my tokens?
First, we recommend you consider your tokens as an investment and keep them for the future. You will be able to sell them anytime, so there is no need to hurry.
If you want to sell or exchange your tokens, you can do it on any crypto exchange on which the NODL is listed. You can check the list of exchanges and the current token price on the CoinMarketCap or on the CoinGecko. You need to deposit your tokens into your exchange account to trade them. To do this, you need to send your tokens to the deposit address provided by the exchange. Once the exchange receives tokens, you can trade them. Please check the deposit instructions of the selected exchange before sending your tokens.
How can I import my wallet from the Nodle Cash app to the web?
Detailed instructions on how to import your account from the app to the web.
How can I import my wallet to other wallets, like Polkadot JS, MetaMask, etc.?
We recommend you use Talisman for managing your wallet on desktop. However, third parties such as Polkadot JS, SubWallet, or Nova should be compatible as well if you use a non-legacy Nodle wallet.
What is a public key? Where can I find my public key?
A public key is a public address of your account. It can be shared with people so they can send you some Nodle Cash. This is similar to your email address when people want to send you an email.
You can find your public key in the Nodle Cash app by clicking the "Receive" button below your balance.
What is a legacy Nodle wallet?
The Nodle Cash app has two wallet systems: legacy and not legacy. Legacy Nodle wallet might be a bit more complex to import to other wallets supporting NODL, or it might not be compatible with other wallets at all. Other than that, it is a valid wallet, and you can use it as before.
If you have just joined the Nodle network, you have a non-legacy wallet. You can check it if you navigate to the screen with your public key by clicking the "Receive" button. The app will indicate whether you are using a legacy wallet or not. If it does not say anything, you are using a non-legacy wallet.
If you use a legacy wallet, we recommend you switch to a new one.
How can I switch to a new wallet from a legacy one?
The app can automatically upgrade your wallet during the wallet import if you have 0 balance. In this case, you will get a new public key, which you need to share with your peers to receive transfers. Your 12-word recovery phrase will not change, so you don't need to back up your wallet again. Your rewards and transfer history will start from scratch.
Otherwise, it would be best to switch to a new wallet manually. It means that you need to create a new wallet and transfer all your tokens there. Here is what you need to do:
- Make sure your current wallet is backed up! If not, backup your current wallet by going to Settings > Wallet Settings > Wallet backup
- Disconnect your current wallet by going to Settings > Disconnect Wallet
- Create a new wallet as you did it before
- Backup the new wallet
- Check your new wallet public key by clicking the "Receive" button and save it
- Switch to your current wallet by disconnecting the new one and importing the current using a 12-word recovery phrase
- Transfer your balance to the new wallet using your new public key by clicking the "Send" button
- Switch back to your new wallet again
- You are done! Continue enjoying the Nodle Cash app!
What if I received a transfer to a legacy wallet after being upgraded?
No worries, your tokens are not lost! You can re-import your legacy wallet as an account to nodleprotocol.io and transfer your tokens to your new wallet. For the import, you should use your current 12-word recovery phrase, but select "Edwards" in the Advanced creation options selector.
What is a private key? Where can I find my private key?
A private key is a secret phrase used in cryptography, similar to a password. It is used to sign every transaction you make on the blockchain. Your private key is composed of 12 secret words. You can find your private key in the Nodle Cash app by going to Settings > Wallet Settings > Wallet backup. Make sure to write down those words on paper and keep them somewhere safe and secure.
How can I move my wallet to another device?
To move your account to another device, firstly, you need to backup your wallet on your current device. You can do it in the Nodle Cash app by going to Settings > Wallet Settings > Wallet backup. As a result, you will get your secret phrase consisting of 12 words that you will use to import your wallet to another device.
Once you back up your wallet, install the app on another device and use your 12-word phrase to import your wallet to another device.
How can I transfer my tokens to another Nodle wallet?
You can transfer your tokens to another Nodle wallet in the Nodle Cash app. You need to know a public key of the recipient’s wallet to do this. Once you have it, click on the “Send” button below your balance and follow the instructions. Please note that you will be charged a transaction fee for every transaction by the Polkadot blockchain. The fee amount is calculated right before you confirm the transfer, and you can check it in the app. Once you confirm the transaction, you will see it in the list of “Transfers” below your balance.
How can I recover my wallet if I lose my private key?
Your account can be recovered only with your private key. Your private key is not available to anybody except you. So, unfortunately, it is not possible to recover your account if you lose your private key.
Is it possible to run the app on multiple devices with the same wallet?
Yes, but rewards are calculated per account (public key), so you will not get higher rewards using the same account on multiple devices. If you want to mine on multiple devices, you can create a separate account for each of them. Still, we recommend using those devices in different locations as data that another device has already transmitted is considered low-quality and will not be rewarded.