Blocknet - Polo, Kraken, Bitfinex killer

[sgtwiggles]

THIS IS GOING TO BE AMAZING!

http://www.trustnodes.com/2017/10/27/press-release-the-blocknet-hires-design-agency-for-its-decentralized

As the race to become the first cross-chain decentralized exchange continues, the Blocknet has retained VSA Partners to assist with UX and design for its trading interface. The first manifestation of the partnership features an intricate user experience design for the Blocknet’s new decentralized exchange.

“One of the greatest shortcomings to early attempts at decentralized exchanges has been a poor user experience,” shared Arlyn Culwick, Co-founder of the Blocknet. “Through good design and user experience, we can more effectively help create markets in which both veterans and those newer to the cryptocurrency world can securely exchange value across chains without having to rely on an intermediary.”

The decentralized exchange movement has grown rapidly in the last year and, naturally, competition has followed suit. The Blocknet community is proactively setting itself apart by leveraging the power of strategic design and UX for a more seamless trading experience. While the Blocknet currently has trustless peer-to-peer exchange capabilities in operation for 30 currencies following their recent main net launch–and in principle for any Bitcoin Core clone–the launch of the exchange will bring a best-in-class trading experience to users.

“The Blocknet community recognizes that, not only is it crucial to solve the difficult underlying blockchain technology barriers, but nailing the product experience is key to long term success,” says Nicholas Cavet, Associate Partner, Blockchain Lead at VSA Partners. “You need to have an exceptional digital experience, build a brand and drive awareness. We’re proud to be partnering with the Blocknet community and founders during this exciting time.”

As blockchain technology and cryptocurrencies continue to become recognized as a means of transferring value throughout the world, the Blocknet platform will allow peer-to-peer trading for quicker and more efficient transactions that aren’t limited by the type of cryptocurrency and underlying chain . As the platform grows, VSA will continue to evolve its UX/UI and long-term branding efforts for the Blocknet.

About​ ​the​ ​Blocknet
The Blocknet is infrastructure for inter-blockchain services. It orchestrates the thousands of revolutionary innovations in the blockchain space into a “token ecosystem.” It achieves this through three core services: decentralized exchange, blockchain routing, and p2p data transport.

A list of the Blocknet’s 30 currencies are as follows: BitBay (BAY), Bitcoin (BTC), Bitcoin Cash (BCH), Blocknet (BLOCK), Dash (DASH), Decred (DCR), Digibyte (DGB), Dogecoin (DOGE), Dynamic (DYN), GameCredits (GAME), Faircoin (FAIR), HShare (HSR), LBRY Credits (LBC), Litecoin (LTC), Monacoin (MONA), MonetaryUnit (MUE), Namecoin (NMC), NavCoin (NAV), Particl (PART), Peercoin (PPC), PIVX (PIVX), Potcoin (POT), Qtum (QTUM), Sequence (SEQ), Stratis (STRAT), Syscoin (SYS), Vericoin (VRC), Verge (XVG), Vertcoin (VTC), ViaCoin (VIA).

About​ ​VSA​ ​Partners
VSA Partners is a modern creative agency that designs beautiful solutions for some of the world’s most respected brands and forward-thinking businesses. Through efective design, VSA develops high-performing, interconnected solutions in all forms—From brand identities and websites to predictive models, or even something that hasn’t yet been invented. VSA’s mantra is “There’s always a better way,” and for more than 30 years, it has delivered on that belief, for clients including Google, Alibaba, IBM, CME Group, Northern Trust, Goldman Sachs and for emerging blockchain and cryptocurrency leaders such as CoinMarketCap.com and the Blocknet. With offices in Chicago, New York and San Francisco, VSA offers a full range of fully integrated capabilities—branding, advertising, data science and technology—all under one roof.

[FoldingMoney]

So to bump this thread... there's been a UI reveal with aforementioned VSA design co.  here is an image (the second image not the first!!)

https://twitter.com/The_Blocknet/status/933771403278671873

If you want to see how a world class design agency designs an exchange  the full video is here (with the actual exchange at 12m30 mark)

https://www.youtube.com/watch?v=teGMLROB9og&feature=youtu.be



 

[HODL to the moon]

Is BLOCKNET like WAVES or HEAT? Is it a decentralised exchange? Maybe it will disrupt Kraken and Polo and Bittrex then, who knows

[FoldingMoney]

To answer your question, the first implementation of blocknet's protocol is a decentralised exchange.  For technical reasons discussed earlier, it should be regarded as truly decentralised (which cannot be said for waves).   trades on the exchanged are paid for with block which will create constant buy pressure on the coin. 

[FoldingMoney]

At no point in using the exchange will coins ever leave your control.  someone in slack suggested that blocknet may be the go-to exchange for institutional investors (for obvious reasons), and i agree with that just from a risk point of view.   Also, blocknet has negotated a deal with ethfinex/bitfinex to gain access to their order book, so will spring into life with great liquidity.  right now one can trade on blocknet, but it will become user friendly for mass adoption with release of the UI and multiwallet (hence not requiring full chain downloads).   these are both scheduled for the very near future, we are talking weeks....

[CryptoXMan]

At no point in using the exchange will coins ever leave your control.  someone in slack suggested that blocknet may be the go-to exchange for institutional investors (for obvious reasons), and i agree with that just from a risk point of view.   Also, blocknet has negotated a deal with ethfinex/bitfinex to gain access to their order book, so will spring into life with great liquidity.  right now one can trade on blocknet, but it will become user friendly for mass adoption with release of the UI and multiwallet (hence not requiring full chain downloads).   these are both scheduled for the very near future, we are talking weeks....

For now, Blocknet is still very under the radar.  Once the marketing starts, look out.

[LotusPetal]

BlockNet is a pretty cool project, but I'd like to see where it goes. I think there's a market for it but to say its going to kill other Exchanges seems a bit overestimated. I think China and USA could really use a DEX though, Waves DEX is coming a long but its far from use able for daytrading.

But yeah, pricewise and marketcap it has a long way to go, could become a top5 project (gtfo BTG)

[CryptoXMan]

BlockNet is a pretty cool project, but I'd like to see where it goes. I think there's a market for it but to say its going to kill other Exchanges seems a bit overestimated. I think China and USA could really use a DEX though, Waves DEX is coming a long but its far from use able for daytrading.

But yeah, pricewise and marketcap it has a long way to go, could become a top5 project (gtfo BTG)

Blocknet basically don't need to kill off other exchanges.  There's no need for that.  All Blocknet need is to be able to access the order book and open up their order book to these exchanges.   For example, EthFinex will be opening their order book to blocknet.

[FoldingMoney]

Yes indeed cryptoX, and i dont care much for the title of this thread. 

One of the largely unknown aspects of Blocknet is that its a protocol/infrastructure and that other existing exchanges or indeed new exchanges are very welcome to use blocknet for their backend.

also agreed on the marketing.   blocknet is a rare thing in crypto, its not some hugely marketed plan with little behind it, its the opposite - very advanced and substantial technology with little marketing done as yet, just word of mouth and a hardcore group of people who recognize its value.  from my research its streets ahad of other dex projects out there and so much bigger in scope.

[Niya]

Is there a way to deposit and withdraw fiat currencies into your decentralized exchange? I see one of main weaknesses about decentralized exchanges is that it's not possible to deposit and withdraw fiat money (for example on etherdelta).

Also, I saw you are building a VPN as well. Is it already available? Which are the differences between your VPN and Mysterium's one?

It looks like a very interesting project anyway!

[raven.tiu17]

Crypto needs decentralized Exchange in order to decentralize value. It's fundamentally an ecosystem problem. interesting project ahead. blocknet would be $100 to $200 by end of 2018

[FoldingMoney]

I dont know how to post images, but just take a look at the graphic the core dev posted in ann thread !!

https://bitcointalk.org/index.php?topic=829576.8480

[FoldingMoney]

posting this from 86b in slack.  I think it highlights the monster potential of blocknet....



you’ll be able to choose your confirmations.  There seems to be a lot of talk about network fees being expensive/etc and this is very misleading as it really only applies to BTC and is a flat fee no matter the amount of BTC you’re trading.  For example Litecoin:  you can get into the next block paying a miniscule $0.01 mining fee... and I believe that is the 2nd most expensive.

The real value here too is not having to sell to Bitcoin, then selling that Bitcoin for an alt - you’ll experience trading fees + slippage premiums in the book - and this gets increasingly more expensive if you have to deposit/withdraw from exchanges.  Also, when transferring from exchange to exchange to chase alts not supported on 1 exchange but supported on the other, you’re relying on the speed of the exchange to process your withdraw itself and paying a high enough mining fee to get you into the next block all while being charged a withdrawal fee at the same time... then you’re waiting on confirmations from the receiving exchange to process.

Lastly - our DX gives you total control of your security, and that’s something many traders are willing to pay for.  All in all though the whole expensive part of it only applies to BTC trading (for now - like basedgod pointed out).  Another benefit is not having to worry about exchange withdrawal limits without giving copies of your identity to exchanges who frequently get compromised along with your personal info.

[FoldingMoney]

https://pbs.twimg.com/media/DPueMQkWAAAqkZs.png:large

[FoldingMoney]

that is an image from twitter, excellent infographic.   perplexed as to how to actually post an image here !

[bisky]

nice work, darren

[MacXA]

Very interesting project and will keep track of the project and maybe move on from bittrex
Good Luck

[CrypticGambit]

Blocknet could be the best investment of 2017. Here's why:

Exchanges are centralized:
- They can be insolvent without you knowing
- They decide which coins to add -- which hurts a lot of crypto projects
- They could be trading against you without you knowing
- They require KYC to stay complaint and you have no idea where that information goes. Isn't it strange that people want privacy with things like Monero and Zcash, but we give exchanges our identification?

Interoperability of blockchains is going to be huge:
- With a Blocknet backend, people can trustlessly use any cryptocurrency they want for anything that accepts bitcoin

Poloniex, Kraken, and Bitfinex have each been facing problems, and soon people will look for decentralized exchanges out of need, not just a "nice to have".

Blocknet is the only fully trustless cross blockchain exchange that is working. Right now it's working in testnet with BTC/SYS, BTC/BAY, and BTC/LTC. The devs can trivially add any currency that is BIP65/CLTV (including ZCash, Dash etc.), they plan on integrating ETH soon, and the exchange works for any combination of pairs.

AMA link (includes discussion about Blocknet vs Cosmos): https://www.reddit.com/r/theblocknet/comments/676buj/ask_anything_about_blocknet_qa/

Blocknet vs Ark: https://bitcointalk.org/index.php?topic=829576.msg18785897#msg18785897

Join the Slack: https://blocknet.herokuapp.com/

Twitter: https://twitter.com/The_Blocknet

hahah a newbie telling me that the top exchanges are bad. I am not going to trust you, these exchanges are good and your exchange is very risky I would not send my funds in there, never ever. period.

[X-ray]

Blocknet could be the best investment of 2017. Here's why:

Exchanges are centralized:
- They can be insolvent without you knowing
- They decide which coins to add -- which hurts a lot of crypto projects
- They could be trading against you without you knowing
- They require KYC to stay complaint and you have no idea where that information goes. Isn't it strange that people want privacy with things like Monero and Zcash, but we give exchanges our identification?

Interoperability of blockchains is going to be huge:
- With a Blocknet backend, people can trustlessly use any cryptocurrency they want for anything that accepts bitcoin

Poloniex, Kraken, and Bitfinex have each been facing problems, and soon people will look for decentralized exchanges out of need, not just a "nice to have".

Blocknet is the only fully trustless cross blockchain exchange that is working. Right now it's working in testnet with BTC/SYS, BTC/BAY, and BTC/LTC. The devs can trivially add any currency that is BIP65/CLTV (including ZCash, Dash etc.), they plan on integrating ETH soon, and the exchange works for any combination of pairs.

AMA link (includes discussion about Blocknet vs Cosmos): https://www.reddit.com/r/theblocknet/comments/676buj/ask_anything_about_blocknet_qa/

Blocknet vs Ark: https://bitcointalk.org/index.php?topic=829576.msg18785897#msg18785897

Join the Slack: https://blocknet.herokuapp.com/

Twitter: https://twitter.com/The_Blocknet

hahah a newbie telling me that the top exchanges are bad. I am not going to trust you, these exchanges are good and your exchange is very risky I would not send my funds in there, never ever. period.

The centralized exchanges are still dominating the trend. How it comes to the easy buy and order especially with the latest condition of the ethereum network that makes you need to pay the more fees for each of your transaction. The decentralized means the peer to peer transaction will be applied. but it may cost the more fees rather than centralized exchange because it has used the direct transaction to the owner's address.
Just like i send the token directly to the wallet without a middle party.

[FoldingMoney]

[/quote]
The centralized exchanges are still dominating the trend. How it comes to the easy buy and order especially with the latest condition of the ethereum network that makes you need to pay the more fees for each of your transaction. The decentralized means the peer to peer transaction will be applied. but it may cost the more fees rather than centralized exchange because it has used the direct transaction to the owner's address.
Just like i send the token directly to the wallet without a middle party.
[/quote]

Outside of BTC trades, interchain fees are miniscule.  Not only are they miniscule, blocknet also does/will not require trading into btc then into your desired coin - just execute directly for your pair.  so at a very minimium you will not be paying 0.15% and 0.15% if you trade as market maker, or 0.25% and 0.25% if you trade at market.  and that, with all the dozens of other advantages of trading on blocknet on top of that.

Genuinely blows my mind blocknet didnt 3x already.  silly progress is going on, and short time before major release

BLOCKNET IS ALL SUBSTANCE AND NO HYPE