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

[BlackstarCollective]

Question: How will BlockNet compare to for instance 0x project, which has very sizeable investments thrown its way?

[Xaltotun]

Question: How will BlockNet compare to for instance 0x project, which has very sizeable investments thrown its way?

One holds your money on their blockchain, the other does not.

[cryptohunter]

Cyprohunter, Please list the anti virus software that gives the results you talked about. We can see if we can replicate those issues/errors. Cheers

Its fine for me on both mac and pc

Also, make sure you download the wallet from here - http://builds.xcurrency.co/blocknet/Build/ - the wallet is compiled directly from the code in github automatically.

http://builds.xcurrency.co/blocknet/Build/Official_Blocknet_Wallet/

The official wallet is above, please do not download any wallets from mega..

Perhaps remove that mega  link from the OP then?? let's hope a lot of people I recommended to this project have not become infected with junk that will harm their machines or worse extract their crypto investment.

A few people have asked me why this wallet throws up so many virus/malware warnings?
I know these are probably false alarms but on virus total it throws more virus warnings than any other wallet i have seen.
Is there a way to fix these false flags? Some people will not put this on their machine they said.

Is there a new updated wallet over the one in the OP because a few people are having issues even running it? probably because their av is stopping it running.

Seeing same thing here. I know block is legit, but need to fix these small issues.

Take me to moonn!

The question has been asked in Slack, and the dev was unaware of this happening and has asked for more details. Can either of you give more details of the messages you are getting?

All they need to do is upload their windows wallet to the virustotal website and you will see all the flags

I have never seen a wallet on here get so many flags before and from the most well known virus maleware programs.

Most novice users will not be able to install this on their machines without adding exceptions to all their anti virus and malware progs.
this is quit a big issue.

Windows Wallet from op shows 19 viruses, but the one from website shows 0 viruses in virus total. Looks like two different files.

That link has been there since 2014? has nobody mentioned it is riddled with virus and malware flags?

Those are hopefully false flags but I hope none are serious issues.

I expect we need to get that file analysed now to make those who have no doubt downloaded the blocknet wallet from this OP that there could indeed be an issue if there is indeed an issue.

[commenter]

Question: How will BlockNet compare to for instance 0x project, which has very sizeable investments thrown its way?

BlockNet doesn't hold your money !

UI work has started a few weeks ago.  VERY rough ETA: mid - late summer 17.

Hi all, I'm interested in the blocknet project. I see that ark also promises bridging between block chains, how does the blocknet bridging compare to theirs? Has Ark shown a working concept or is blocknet so far the only one with a working bridge?

Thereby what is the difference between cosmos and blocknet? So far it looks cosmos is a clone, it even has the same slogan. How does blocknet ensure to keep a lead in the race to launch a platform with bridging first?

BlockNet has already released a working bridge - Xbridge. If you look at the Ark Github it all looks very busy but it's basically a clone of Lisk and I don't see anything released yet which is novel or revolutionary, just lite wallets and things like that. The key part is they don't have a bridge.

Note work started on Blocknet started over 2 years ago, Ark is a new project. Note also we introduced the bridge teminology with our Xbridge and Ark is calling it Smartbridge.

The main difference between Cosmos and Blocknet is Cosmos requires the inter-chain services to run on it's chain only. Blocknet is true inter-chain services. And of course Cosmos is relatively new and if you look at their Github they have no actual coin code released yet - https://github.com/cosmos just code about their website and fundraising. I'm sure Cosmos won't be a clone of our code. But it will have the same ideas.

Btw there is plenty of room for all projects.

Slack invite: https://blocknet.herokuapp.com

That's no good Block is true interchain technology

Note that these are only some examples of BLOCK`s future usecases ^^^

This tech can be leveraged in many more other situations.
 

Actually that's right only this project has the solution of trustless exchange so this will be truly giant in future. From my point of view we have to hold this token for long term so this will achieve more big marketcap very soon.

looking forward to the day waking up and see +300%

Ha Ha soon !

Give us something to look forward to without giving it away!

How about this:

Some stuff I was able to gather in slack about what is happening next....

Note - nothing is set in stone as things change due to community needs and consensus.  That's how the Block community works.

So....


1. Apparently the API will be worked on shortly very soon in readyness for the...
2.  ...development of the UI which will start in about 7 weeks.
3. Efforts are being made to add Block to AT LEAST  one other exchange. YOU CAN VOTE FOR BLOCK HERE TO BE ADDED TO C-CEX:
https://c-cex.com/?id=vote&coin=block
4. A percentage of staking coins will be sent to the Dev fun.  % to be determined.
5. The integration of SPV so nobody has to download chains for coins on the decentralized exchange. (not confirmed but looks positive - apparently this work could be done while the UI is being developed at its 2 different people)
6. Various marketing ideas are being discussed and will probably be voted on.
7. LTC testing has started. BitBay will be next with possibly Zcash after that. (not confirmed)


In short...

LOTS GOING ON.


Slack invite: https://blocknet.herokuapp.com/

So besides being added to Yobits we can vote to have Block added to Ccex Nice !

Update from the reddit thread: (dev answer in red)

What is an example of a simple dapp that would be cool?
One reason why I'm asking is I'm interested in building a dapp to drive people to Block. I can program to some degree of proficiency but I'm not on Dan's level.

I'll list a couple of simple ideas:
Zcash mixer (clone a multiwallet, integrate xbridgep2p, auto-trade for Zcash and back to any other currency. Near-perfect mixing)
A marketplace app. You'd want the following services: (a) customer reputation and info, (b) payment processing, (c) image storage, (d) item listings. Use a microservices architecture for the reasons given above, gaining the advantages of utilising multiple blockchains. Use one chain to store encrypted customer info (see the final item on this list), use the Blocknet's XBridge to accept payments in any cryptocurrency, store images on a server, and use a third chain and in-wallet code for the item listings and UX. The result: a scalable, composable set of services that are easier to bugfix, ungrade, or replace.
The use of any Ethereum contract by supplying "gas" in other coins
A stablecoin that maintains its peg by exploiting the fact that trade records on a dx are on-chain (checks trade records; burns/creates or freezes/unfreezes coins to maintain a precisely equivalent money supply)
An OAuth killer: a personal information service that records encrypted personal metadata on your chain and comes with a revocable permissioning system. Users thus acquire self-sovereignty over their personal information. From there, you can integrate to any site/app requiring sign-in, or users can voluntarily sell their metadata to advertisers for micropayments (sorry, Google Ads), or it can support passport/identity systems..

[commenter]

Just saw the devs have answered a load of questions on the reddit AMA:

https://www.reddit.com/r/theblocknet/comments/676buj/ask_anything_about_blocknet_qa/

Summary: (dev answers in red)

1. What is the timescale for the UI and SPV? Just roughly. Are we talking a couple of months, 6 months, end of year, next year? Cheers.

We work in an "agile" manner and thus do not deliver to timescales. As a rough estimate which cannot be taken as a commitment, I'd suggest that the timescale for the UI is "a couple of months" and SPV multiwallets "6 months." I may be mistaken though.

The better answer: we are aware that mass-adoption of an exchange technology requires low friction, thus removing the need to download at least two blockchains before trading. So SPV is at the top of our list of enhancements.

Work has already begun on the UI.

2. How is Blocknet different from projects like WAVES, COSMOS, SWARM CITY and so on. In general, how is Blocknet's approach to build a decentralized exchange and an interoperability protocol different from its competitors?

The Blocknet is the only project in our awareness that decentralises the four core functions of an exchange - capital deposits, order broadcast, order matching, and coin exchange.

    all coins stay in wallets

    orders are broadcast over an inter-chain DHT network overlay

    order books are compiled by local applications, not a central or distributed entity

    coin exchange is atomic and trustless, utilising OP_CHECKLOCKTIMEVERIFY and not requiring the control of any third party.

As for interoperability in general and the emerging token ecosystem, the Blocknet is deliberately designed to function as infrastructure. No central chain is required, enabling services to be built on any chain and monetised and delivered over xbridgep2p, our "blockchain router," to nodes on any other chain and to dapps harnessing blockchain services.

Regarding waves, it's a coloured coin approach. As such, as a trader, you'd have to deposit your coins for some underlying token in order to trade. This does not decentralise deposits, even if the underlying architecture is distributed. Additionally it requires you to trust some manner of intermediary to redeem your coloured coins for a real coin when you want to withdraw.

My opinion on this is that if you're building a decentralised exchange, the main objective is to provide an alternative to having to trust some intermediary with your coin deposits.

Coloured coins cannot achieve that, and so I cannot consider any exchange of this type a decentralised one in the true sense of the word.

As for Cosmos, (a) its consensus algorithm is DPOS and (b) it relies on anchors/validators and so is vulnerable to collusion attacks.

These two points amount to Cosmos being a distributed system, but not one in which control is decentralised (that's what "decentralised" means btw - it's about control).

Thirdly - and correct me if I'm mistaken - Cosmos' approach is architecturally ill-fated to run afoul of the emerging "token ecosystem" by requiring inter-chain services to run on its chain only.

This is another way of saying that it is "inter-chain centralised," may be fine for sidechains, but is not suitable for an inter-chain era where it becomes the norm for dapps to become inter-chain orchestrations of on-chain microservices.



3. What are the possible applications of the xBridge other than a decentralized exchange?


   monetised API consumption
    digital service delivery

The Blocknet is designed as infrastructure for the emerging token ecosystem. Any service or orchestrated sequence of microservices provided by dapps may be delivered over the Blocknet's infrastructure.

Using decentralised exchange, these services are intrinsically monetisable, removing the friction and high costs of traditional payment networks - friction which has prevented the monetisation of the bulk of the API ecosystem.

Due to the decentralised exchange, consumers of a service may pay in their native token even if the service consumes a different token.


4 Do any of these dapps exist already or will they have to be built? Anymore concrete dapp examples would be great - helps me spread the word and keeps it simple.

This is potentially very exciting because if a service is in demand and people are buying Block to use the service then it makes the price go up.

Currently the only things on the Blocknet are its core infrastructural services:

    blockchain router

    coin exchange protocol

    trade fee collection nodes ("service nodes")

    in-wallet order book and order-creation/acceptance controls

    p2p end-to-end-encrypted data transport

If you're looking for concrete examples, the scenario is the same as current apps with a microservices architecture: you can build any of them with a monolithic architecture, but they'll struggle to scale, bugfixing is harder, a bug anywhere can break the entire thing, and they're not composable (i.e. they cannot be broken down into sub-services which may be used and monetised in other ways).

So... take all the dapps in existence. We're making the case that it's best to build many of them as inter-chain dapps.



5. What are the benefits of running a node? And how many blocks do I need to run one?

There are two types of node: a "service node" and a trader node.

Service nodes do not handle or control any trader's coins. Their function is to collect and distribute trade fees. Typically a service node operator will run multiple full node wallets of whichever coins (s)he wants to support, in order to garner as many trade fees as possible.

Trader nodes enable one to trade on the decentralised exchange.


6. Will there be fees for buying/trading on Blocknet like there is with Coinbase/GDAX?

Yes, there are fees, though they are significantly lower that centralised exchanges (with a minimum fee that's just above the dust threshold).

The fee structure is as follows:

    transactions over the networks of each of your currency pairs will remain subject to their normal network fees for P2SH transactions

    a tiny trade fee is charged in BLOCK and the software takes care of securing some BLOCK to pay the fee.
        current implementation: trading is from the Blocknet wallet and you can buy BLOCK using it or on any other exchange. This is then used for fees.
        future implementation: trading will be from any trading dapp built by anyone. The protocol is likely to involve a second trade for the BLOCK trade fee, without requiring your dapp to have the Blocknet's blockchain





Click the reddit link for more answers.

[commenter]

Slack invite: https://blocknet.herokuapp.com/[/b]

[commenter]

Work on the UI for the decentralised exchange has begun!

Now who'd like to see some early mockups?

Righto, here they are.

Note: these are early conceptual mockups, and are likely to change considerably

These are looking cool and sexy I like this finally this is going to happen. We will be able to trade on this most secured trustless exchange. You are doing really great job good luck and keep up this spirit.

[commenter]

LTC testing has begun!

And so skeptics don't think it's just a picture, corresponding transaction proof:

http://ltc.blockr.io/tx/info/006e3b75e608662fb747b2f44eadefb52ade0859e3cb629b46679995812f2183

https://blockexplorer.com/tx/f2260dbf59ffad0c58682317041d95ccb162b1785637ca531949a9c66d4c6804

 

That is great to see the proof of these transaction so this historic moment have been arrived Block is ready for big jump. I think still cheap at current it will be over $100 very soon make my words.

[CORNEL]

I will keep supporting Blocknet because dev has passion about make this first ever trustless exchange. This is my long term investment so will wait till this happen.

[synechist]

Just to let you all know that the OP now links to the correct Windows wallet.

If anyone has further antivirus issues, please let me know:
- which antivirus program you use
- on which OS
- and either screenshot or paste the details of the report


Thanks


Arlyn

[danielwwt]

Slack invite: https://blocknet.herokuapp.com/[/b]

New to have more people join slack!

[RAGEmond]

any news about OP roadmap?

[synechist]

any news about OP roadmap?

An new OP is coming pretty soon.

As for our feature backlog, I'm preparing it, and will be putting features to a public vote in order for us to gauge their importance relative to one another. This, then, will generate a roadmap.

[Ylle]

any news about OP roadmap?

An new OP is coming pretty soon.

As for our feature backlog, I'm preparing it, and will be putting features to a public vote in order for us to gauge their importance relative to one another. This, then, will generate a roadmap.

Could you elaborate on the short time planning of the project? I know the UI is in development, can we expect a beta any time soon?

[RAGEmond]

any news about OP roadmap?

An new OP is coming pretty soon.

As for our feature backlog, I'm preparing it, and will be putting features to a public vote in order for us to gauge their importance relative to one another. This, then, will generate a roadmap.

sounds great, thanks

[Ano]

any news about OP roadmap?

An new OP is coming pretty soon.

As for our feature backlog, I'm preparing it, and will be putting features to a public vote in order for us to gauge their importance relative to one another. This, then, will generate a roadmap.

Good to hear new OP will replace the all old stuff which is really needed. Roadmap will bring more investors to this project so that I am still buying as much as I can this time.

[Johnny00]

Can anyone comment on this accusation?

https://bitcointalk.org/index.php?topic=841223.820

[JanDzban]

any news about OP roadmap?

An new OP is coming pretty soon.

As for our feature backlog, I'm preparing it, and will be putting features to a public vote in order for us to gauge their importance relative to one another. This, then, will generate a roadmap.

There will be a new OP on this thread soon.

Could you define if it will be within next weeks, month, months?

Thanks.

[MR1]

Can anyone comment on this accusation?

https://bitcointalk.org/index.php?topic=841223.820

It`s not worth to reply to assholes. If they want to see BLOCKNET achievements, they are free to test BLOCK`s DX.

[danielwwt]

Can anyone comment on this accusation?

https://bitcointalk.org/index.php?topic=841223.820

wtf is this???