BlockNet (BLOCK) – Blockchain Interoperability Alliance KILLER ($ICX $WAN $AION)

by birtanpublished on September 10, 2020

What's going on guys got some exciting news for you guys all right this coin right here is very special this is hot right now guys you might want to look into this coin this is catching some heat based on what this coin can do and based on the groundbreaking news that

Has just been announced about this coin this coin just created the first working protocol of interchain operability so what is this coin this coin is called block net the ticker is block B LOC K we got a market cap of 92 mil we got a

Volume of close to 1 mil and we got a circulating supply of 5 mil so what is block net block net empowers the passionate communities behind every coin with atomic swaps on a truly decentralized exchange platform block

Net serves as a connector between block chains markets and communities now what does that mean I'll explain block net does something called blockchain routing right blockchain routing allows you to prove to yourself different things that

Are happening on different block chains without actually downloading that blockchain this means that if there's one cool piece of technology on that one blockchain and another one on another one and perhaps you're building adapt or

Trading on a decentralized exchange you can now do that without having to make your users download two or more block chains this is a groundbreaking and foundational piece of technology that is going to help build out the inter chain

Ecosystem okay it is important to not have smart contracts being the intermediary means of communication between all different block chains that actually spreads the attack vector because chains aren't actually talking

Directly with each other they're actually going from one chain into a mediating chain and then being translated into another chain it just spreads the attack vector so Charlie Lee himself said that interoperability

Shouldn't have to be like that so that's where block net has actually built the block net protocol now what the ex router allows is that the ability to have these different block chains communicate with each other but have the

Data actually translate directly chain to chain and that's the beauty and power of the atomic swaps atomic laws have been around for a long time and the whole reason why they were built is because they're super secure protocol

For exchanging data and exchanging value and what black net did is create a second layer that allows us to the capability for these chains in a synchronized manner and through API to be able to activate

Atomic swaps in a secure manner so an example of what ex router allows to say like a multi wallet like Jax wallet Jax is a great multi wallet a lot of people use Jax when you use Jax your funds aren't necessarily directly on Jax

Because Jax is referring to Jax notes on other chains to pull up your funds so when you open your wallet it connects to the notes that Jax has and it tells you your balance because it is all stored on our servers it is accessing the

Blockchains from their own servers what block net is allowing is now anyone can actually create a multi wallet and instead of having to have their own nodes on their own servers to refer data they could actually refer to block next

Router which is connected right now to 80 different chains yes they are compatible with 80 different chains they'll be announcing the change within the coming week so look out for that on a website or their social media and the

Team also says that they're going to be hitting a lot more change real soon right as soon as they get some integration issues worked out but the important thing is that now anyone can create a cross chain applications that

Connect directly to the nodes in a completely decentralized manner so applications they don't have to hold their own nodes they don't have to hold their own servers with nodes anyone could actually create a multi wallet or

An application and access all these different chains through the X router to get a full picture of this – we'll look at the token economics and I'll try and describe it the best way I can so the token is called block and block

Is pretty much the token that incentivizes people to keep a network going it doesn't act like an intermediary like it does with other projects so if you do hold some of the block token you're allowed to stake it

Which helps confirm the blocks on the network and if you're staking your block tokens the current return on investment is about 13% block wise alternatively you can also run a service node which requires 5,000 block and with that you

Can help manage this infrastructure they have about four servers knows at the moment and it hosts photos of all the BLA scenes that they are actually compatible with and that's how the block net team stays decentralized through the

Block reward process you can actually earn roughly about 18% return on investment and block again the way that work is with each block on their blockchain they have a 1-minute block time each block generates about one

Block token where 0.3 of that block ghostess takers and 0 seven on that block goes to the service notes the other thing is that running a service node you also get a transaction fee from the block decentralize exchange

Which is the first example of their multi team decentralized app it's using all these different block chains they do atomic swaps you can participate in the exchange and do wallet – wallet transactions the service knows provides

That service and so the volume will directly convert into a return on investment for that service node so moreover they get a tiny fee percentage and that fee structure actually hasn't been fully decided yet at the moment but

The team said they're working on they'll give more announcements about it soon it is a small fee right now but any significant volume can be shared liquidity through many exchanges and will translate directly to an additional

Return on investment to node for example if you're looking at 50 million dollars on the exchange in volume that might translate to an extra $100,000 a year for an individual node which is massive guys so moreover there's a huge

Incentive to actually run a service node and provide the best possible service and that means all the applications including the block the centralized exchange are going to be at their peak because the people that keep it working

At the peak are rewarded massively they are also allocating trade fees to people who are staking the coins so thinkers will also get some awards in addition to the service providers other ways that we use the token is that you can still send

It peer-to-peer like you would any other cryptocurrency but the way it also functions is that for decentralized exchange enables the regular person to do some anti-spam measures on the order book so you place an order as a trader

Your software will buy very small amount of block net tokens and I know you'd have to pay the trading fees while you're trading now that of course places some buy pressure on the token and the buy pressure is proportional to the

Volume of the trades and this trades across any blockchain guys and on this decentralized exchange they're not gonna be lessening any coins or tokens they have api's that literally anybody can get working and go trade if you actually

Wanted to list a coin or something on the exchange that would require you to integrate their tech into whatever wallet that you have on your computer and post your order on the decentralized exchange and if someone wants to buy

That then they buy that on the exchange pretty much in a nutshell that's like what it is we'll go look at the website quick guys but this thing is gonna be hot right now it just got announced at consensus not a lot of people know about

It yet that they've done this so watch out for some price action it's too bad it's a bear market right now if it was a bull market guys this thing will take off so again this is a website already talked about what block and a protocol

And everything is you guys have come through read to it they have a pretty nice website so this is their decentralized exchange down here looks pretty good it looks just basic like any other exchange I already talked about

The peer-to-peer aspect of trading freedom a centralized exchange liquidity why are you talking about that and touch on that aspect to be bridging communities together like I said it's the first interoperable protocol that's

Working right now so guys a on and Ike on all those different block chains that are created interoperability Alliance these guys have already done it these guys already had the protocol would get that working so look up for some serious

Price tag action for this guys by the way guys it's not financial advice and always do your own research so right now here's their social media they got about 18 thousand followers on Twitter this is gonna get a lot bigger once people

Figure out what's going on with this and what they've done this part is talking more about the coin and they're staking functions what I already explained guys and how its governed so block 9 is governed by the community without a

Centralized entity block net supports its own maintenance and development through a Treasury system that allocates an additional 10% of all new coins minted each month service knows acting as treasurer's vote to fund community

Proposals that serve block Nets vision community members are the core representatives of the ideas and proposals that block net implements blocka is designed to scale by allocating the resources necessary to

Meet the demand of connecting the decentralized world is the product roadmap I hear that these guys were around since 2014 they were working on this for a long time but I guess their roadmap starting 2018 so official market

Plan in February and in March decentralized essenes was created brand reveal decentralized exchange beta launch march 15th to completed a block net white paper wallet redesigned revealed in April and June 15 the wallet

Redesign launched and July SPV support and you can download blocking it right now guys like I said it's a working product it's all I'm here down the Wallis if you want and come check out the website guys check out their white

Paper and everything other information is on here but I went through it as best as I can as easy as I can for you guys alright so this was my little presentation on block net this is case sim from crypto PD oh we got more

News and crypto reviews to come and I'm out

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