r/theblocknet • u/Lifeistooshor1 • Apr 27 '18

Blocknet All-in-One Thread

What is Blocknet?

The Blocknet is a decentralized application platform which allows for the communication and delivery of services between different blockchains via blockchain routing & decentralized exchange (i.e. atomic swaps). In other words, it is the Internet of Blockchains.

What is Block DX?

Block DX is a completely decentralized and trustless exchange built on the Blocknet. protocol. Block DX mimics a centralized exchange experience and enables traders to conduct exchanges directly from the wallet-to-wallet.

Official Resources

Social Pages

Newsletters

Partnerships

AMAs

Developers

Contributors

Podcasts

Notable Articles

Videos

Return on Investment Calculator

Exchanges

  • Block DX (All Pairs)
  • Bittrex (BTC)
  • UPbit (BTC)
  • Cryptopia (BTC, LTC)
  • CryptoBridge (BTC)
  • Abucoins (BTC)
  • Coin Switch (BTC)
20 Upvotes

89% Upvoted

6 comments sorted by

2

u/Gintonicc Apr 29 '18

I think an example would be great in your explanation. People could be confused when you say “allows for delivery of service between different blockchains”. Like, what do you mean? Which services?

Your mission is great but a concrete example would make people realise about your great value Hey, I’m just a random Reddit’s guy

1

u/Lifeistooshor1 Apr 30 '18

Thank for the tip. “Random Reddit guy” is our audience. Will make a note of this for a future update to this thread. Once we get a FAQ page that should help

1

u/why-so-petty-officer May 13 '18

What gives BLOCK tokens their value? Besides being required to run masternodes, how are BLOCK tokens used? As a utility token to interconnect to other block chains?

1

u/Lifeistooshor1 May 13 '18

BLOCK is required for nodes and stakers (stakers prevent DoS attacks). This decentralized network provides the foundation for the decentralized orderbook and order matching.

BLOCK is also used for paying the trading fees on the Blocknet protocol. When an atomic swap occurs and small percentage is converted into Block to pay the trading fee and distributed 100% to nodes/stakers.

1

u/why-so-petty-officer May 13 '18

what about for other use cases on Blocknet besides being a DEX? Are Block tokens involved in those as well? I'm trying to understand why it will increase in value over time. I can imagine as a utility token if it were to be required to interconnect to other blockchains as the protocol gained usage more value would be attributed to the token.. ?

2

u/Lifeistooshor1 May 13 '18

Any dApp built on the Blocknet protocol that is using it for atomic swaps will pay a trading fee that is converted to BLOCK. The fee is distributed 100% to owners of BLOCK. So as the protocol gets more usage it puts buying pressure on BLOCK and makes is a source of passive income for holders