[ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure

[synechist]

Our partner BitSwift has just announced the following project:

Great concept, BitSwift!

[Cryptoadvice_82]

Our partner BitSwift has just announced the following project:

Great concept, BitSwift!

Wow! Great project!

[Mekabear]

Arrgh wallet ganked itself.  Had a backup but its missing a consolidation and I seem to have lost about 600 coins into the void.  Can a broken dat file ever be fixed? 

Glad to see developments continuing. 

[synechist]

Arrgh wallet ganked itself.  Had a backup but its missing a consolidation and I seem to have lost about 600 coins into the void.  Can a broken dat file ever be fixed? 

Glad to see developments continuing. 

Ouch, sorry to hear it!
If you copied your private keys somewhere, you're good.
If you backed up the wallet.dat file, you're good.
Otherwise, I fear your coins are lost.

(Fortunately it wont cost you much to replace 600 coins :-).)

[Mekabear]

Had a backup of wallet, but am I right in thinking that if i'd created an address after the backup it is now lost?  I have the transaction of it leaving but the address is no longer attached to the wallet it seems. 

Guess should backup more often!

[Bavaria]

I wonder how secure coins will be on BLOCK enabled DEX? Does DEX host hot wallets that may be attacked?

[Xaltotun]

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.

[Erik Goff]

Are there any updates on this?

[illodin]

Is there a whitepaper for the DEX, or some other form of technical explanation of its design?

[Bavaria]

What are the use cases of BLOCKNET except of the DEX?

[synechist]

Had a backup of wallet, but am I right in thinking that if i'd created an address after the backup it is now lost?  I have the transaction of it leaving but the address is no longer attached to the wallet it seems. 

Guess should backup more often!

Hey hey

No, the address won't be lost. :-)
Wallets always retain a pre-created pool of 100 new addresses. This way, if you backup the wallet and use up to 100 new addresses after the backup, you can still use the backup and use the same new addresses over again.
Just don't create more than 100.

[synechist]

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.

[synechist]

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.

[Cryptoadvice_82]

Can't understand why people are selling Block so cheap today...but thanks!

[Cryptoadvice_82]

Can't understand why people are selling Block so cheap today...but thanks!

Could it be, could it be... they think it will be worth nothing very soon? Just a wild guess.

I've seen interesting news on slack last weeks...probably more holders should take a look af BLOCK Slack channel.
Same for XC!

[Bavaria]

Let`s assume that I am an online marketplace owner. How can I benefit from Blocknet?

[crazywack]

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.

[Cryptoadvice_82]

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 was hearing 5k for a masternode,

[Bavaria]

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?

[crazywack]

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.