Blocknet- Image Courtesy of Blocknet

Blocknet

(BLOCK)
Blocknet is a cryptocurrency which offers instant transactions. This platform works on blockchains that allows nodes on different networks to communicate and interact with each other by sharing assets and data with the use of its cross-chain peer-to-peer protocol. Their connective services goal is to be the Internet of Blockchains.
CURRENT VALUATION
9.8 mln
THE HIGHEST VALUATION
233.3 mln
CURRENT YEARLY RETURN
16.4%

Interesting Facts

  • Blocknet is using their native token called BLOCK

  • It uses The XBridge program as a blockchain router. This is the backbone of the platform.

  • Uses a Proof-of-Stake consensus algorithm with Service nodes, Staking nodes and Trading nodes to maintain the platform.

  • For every 43,200 BLOCK it matures to a Superblock that allows you to receive proposals and service nodes vote for you to get a portion of a new fund.

Project in a nutshell

Blocknet is a decentralized platform whose purpose is to create a bridge with all other blockchain networks and communities. It has a profound use of its XBridge system that allows segregated blockchains to have a strong bond with the other blockchains. Because of this system, blockchains can freely co-exist with others.

They are using their own cryptocurrency system called the “BLOCK”. As they are using the Proof-of-Stake program, blocks are not minable. Users can only stake their coins for them to earn through returns.

Which exchanges is this coin listed on?

CONTENT BELOW SUITED FOR MORE ADVANCED USERS

More in-depth review of the project

The Blocknet platform is a collection of different blockchains that are linked together, and in those blockchains is where their cryptocurrency is developed. These blockchains are similar to a database, however, blockchains do not have a physical storage but rely on their virtual realm storage unlike a database.

It is expected to see that this network platform of blockchains will eventually grow big. With this, they have formulated the XBridge system to help support blockchains and permit all networks to co-exist together through a process of cross-chain swapping. This method will prevent the blockchains from not interacting with new and existing blockchains. This program also supports the sharing of data and smart contracts of blockchains.

What makes this unique from other crypto currency is it’s decentralization of different blockchains and having the program to sustain relationships from different blockchains.

Blocknet is a widely welcomed thought to the cryptocurrency community, however this platform exchange is limited only to a few other cryptocurrency platforms. This makes it not that popular to the cryptocurrency community. Since Blocknet is paired up with Bitcoin, you can use your bitcoin to purchase blocks.

Blocks cryptocurrency are stored via an application that you need to download, this application is the official Blocknet wallet.

Future plans

  • Official Marketing Plan.

  • Decentralized Exchange Brand Reveal and Decentralized, Exchange Beta Launch.

  • Wallet Redesigned Reveal.