We've been putting a bit of time into the notion of a coin pegged to USD. This way, traders could park their coins somewhere stable instead of sleeping in BTC. However, it's not clear how to keep this both decentralised and non-gameable.
Maybe use "Tether" for that? It is an Omni asset already pegged to the USD. Yes, that came up in conversation - and I'm an old follower of Omni / Mastercoin. I need to check out their implementation, especially its degree of centralisation (if any). If it's trustless in the required respects, then I see no problem in using it. Way better than reinventing the wheel. :-) |
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Hello,
Just read an article about blocknet and liked what I read.
Question...
How many total tokens will there be?
Is this 100% pos?
And i checked polo and the volume is low. Any reason for that? I just think it would be higher based on what I have read.
...your explorer link on coinmarketcap.com is not working.
Thanks for your respons.
The coin is 100% POS. Coin supply is 3,877,226.06 BLOCK + ~3% annual interest (starting from Oct 2014). Initially 10,000,000 coins were created. 3,877,226.06 were sold during the ITO and the remaining coins were burned. The volume has been low because we've been developing and haven't been ready to publicise our results. Apologies for the broken link to coinmarketcap. The entire OP needs to be updated. :-) |
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Woohoo!
Just got a stake reward of 87.108238 XC - for a single block.
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unless blocknet can accept and pay USD to and from my bank without a intermediary holding it, then its not the distributed exchange I am looking for...I know thats a big ask...but there it is the only way to put the exchange risk out of business
For the time being, I suggest using fiat gateways to get across the fiat:crypto divide. They're regional and centralised by nature, so aren't a natural component of a protocol-based, borderless decentralised exchange. We've been putting a bit of time into the notion of a coin pegged to USD. This way, traders could park their coins somewhere stable instead of sleeping in BTC. However, it's not clear how to keep this both decentralised and non-gameable. For now, you can trade trustlessly across any currency pair that uses either the Bitcoin Core API or the Ethereum codebase. Stay safe. |
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Are there fees for the decentralized exchange? If so, who collects?
What is the benefit to running a node?
Yes, there is a trade fee. The amount is yet to be decided. Running an exchange node nets you the fee. Coming up: distribution of a portion of the fee to staking wallets across the network. For the record, exchange nodes don't hold coins - this is a trustless design. It's also the only exchange that has decentralised all the core components of exchange - coin deposits - order book - order matching system - coin exchange protocol |
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How much was the micro payment to the blocknet holders for that single transaction?
That's yet to be determined. |
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Some great enthusiasm emerging as people start adopting the decentralised exchange:
Slack: bilkoo [11:11 AM]
i ve got the dx running with great assistance from atcsecure. it works perfect and does transactions in almost a blink of the eye.
this is gonna be huuge
we ve tested the fee part also and its just magical. its well worth the wait people.
@synechist and @atcsecure keep up the good work :clap:
@hughbt, we're not releasing a delivery date for the UI. I'm making progress on the spec for it though.
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Could someone give a brief update about Blocknet's timeline? The official link seems to be down: http://wiki.blocknet.co/index.php/Timeline and the OP timeline stopped in November 2014. What is coming up and what kind of beta is going on currently? Thanks a lot! Yeah, the OP is pretty old. I guess we should update it. We don't really use Bitcointalk much though. For updates, Slack is your best bet. Currently, the decentralised exchange is in beta. |
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Hi folks An invitation - given on Slack - that I'll copy here: atcsecure [3:56 PM] who is interested in setting up a DX node? it generates btc All welcome. Let's get this DX into the world. http://blocknet.herokuapp.comwould be awesome to get public step-by-step instructions. I gues a lot of followers want to generate btc Instructions are being constructed, in Slack, by some community members. I'll post some here soon, when they're sufficiently done. |
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Hi folks An invitation - given on Slack - that I'll copy here: atcsecure [3:56 PM] who is interested in setting up a DX node? it generates btc All welcome. Let's get this DX into the world. http://blocknet.herokuapp.com |
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Synechist, there was an issue on BLOCK wallet syncing. Is there an instruction how to resolve it?
Yes, delete and resync your copy of the blockchain. Use the parameter “addnode=104.131.176.233” upon launch (that's Dan's node) if you want to ensure that you download his chain, because an exchange and a few other people seem to have got onto a fork (but they've subsequently got onto the main chain now). That startup parameter can ether be pasted into a .conf file in the same directory that your wallet.dat is in, or added onto the "target" field in a desktop shortcut. If you need more info, come ask in Slack. |
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From Slack:
@channel, in other news, I've been approached by a writer who's interested in telling the story of the Blocknet. [He's published several books on Amazon telling the stories of various crypto projects.] I said I'm invite him here, and that I'd chat about his idea with Dan and all you folks in the community.
Is the writer in question Tobo? No, it's Chris Thompson. |
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From Slack:
@channel, in other news, I've been approached by a writer who's interested in telling the story of the Blocknet. [He's published several books on Amazon telling the stories of various crypto projects.] I said I'm invite him here, and that I'd chat about his idea with Dan and all you folks in the community.
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WOW!! "the official pre-release of the BTC DX Beta was pushed today to the website" - From Slack  Are there technical details released on how it works, mitigates attacks, etc? I was searching technical details too, but didn't find it  Yes, technical details will come last. |
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The Blocknet's DX, now supporting Bitcoin!Up next: a UI.
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Let`s assume that I am an online marketplace owner. How can I benefit from Blocknet?
Marketplace? Masternodes would be the only way I could figure you "benefit" The coin count per masternode has yet to be determined. I am not quite tech savy guy. Can you tell me a bit more what you mean? A few numbers have been thrown around in the slack, but if you hold the set amount and dedicate it to a masternode to help secure the network/ keep blocks moving then you will receive fee from transaction cost. That's how blocknet will be profitable besides trading and hopefully price increase. You won't own a marketplace, you will put up a sell/trade via your wallet and others bid afaik. Who will be able to see my sell offers? Only the users of blocknet wallet? To avoid any potential confusion, the Blocknet does not use masternodes. A "masternode" is something people use in coinjoin to try anonymise transactions. The Blocknet uses "exchange nodes". Exchange nodes won't control any coins during a trade; they will function to distribute the trade fees across the network. |
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What are the use cases of BLOCKNET except of the DEX?
The decentralised exchange is one of three core functions. The others are end-to-end encrypted p2p data transport, and fee-capture. Combine them, and you have a decentralised infrastructure for inter-chain services. This is fully generic and envisioned as infrastructure for the coming inter-chain era. |
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I wonder how secure coins will be on BLOCK enabled DEX? Does DEX host hot wallets that may be attacked?
No. It is my understanding that Block does not hold any coins. They are just the router that handles the transaction between blockchains. They will truly be a decentralized exchange, unlike the others who want you to send coins to them. Your coins are only as secure as the system where you keep them. Yes, you're correct. The Blocknet's DX does not require centralised deposits. You keep them yourself. |
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