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

[greyskies]

Waves right now market cap has risen to a crazy $130 million. Whilst Blocknet is sitting on a peanuts market cap of $8 million. And what's mental is this project is ahead of Waves.

This is a golden opportunity before an epic market correction occurs.

[bamsterdam]

I also think block has a better aproach of dex then waves. But its not always the best idea that wins. Although I think there is room for both coins to exist the only thing that worries me is that things might develop to slow since they have to do everthing alone. Waves have a lot of funding and a hole team developing the protocol.

So there was a ICO for block some time ago now, dont think there is much left from that money? Is there any way we can add (payd)members to the team so development can speed up? I dont know how much of the code is allready opensource if not all so what is stopping a more funded team to use the source code and try be theyre first? 

I think for block to be a huge succes there has to be more then 2 people working on the code. From what I read Dan is a really good coder but he is one man and there are limits to what he can do plus he has the xc community as well.

I dont know for sure but I thought I saw Dan day on slack something about 10% of the block reward goes to funding in the future?

How does the community see this?

[NrX]

Blocknet Dx will be real world's first fully trustless and decentralized working exchange. Their has not been any true decentralized exchange so far. All claims are false and somewhat are covered under some sort of centralization. Blocknet will provide first decentralized working exchange. We don't have to wait much now as everything is on track.

[greyskies]

I also think block has a better aproach of dex then waves. But its not always the best idea that wins. Although I think there is room for both coins to exist the only thing that worries me is that things might develop to slow since they have to do everthing alone. Waves have a lot of funding and a hole team developing the protocol.

So there was a ICO for block some time ago now, dont think there is much left from that money? Is there any way we can add (payd)members to the team so development can speed up? I dont know how much of the code is allready opensource if not all so what is stopping a more funded team to use the source code and try be theyre first?  

I think for block to be a huge succes there has to be more then 2 people working on the code. From what I read Dan is a really good coder but he is one man and there are limits to what he can do plus he has the xc community as well.

I dont know for sure but I thought I saw Dan day on slack something about 10% of the block reward goes to funding in the future?

How does the community see this?

Waves approach has been done before with Bitshares. It was done 2 years ago. No joke, the majority of the Waves community don't even realise this. I'm a semi programmer and I've reviewed their source code. There's no real new ideas in it. Blocknet has cross chain atomic swaps, a first in crypto. What Waves are good at is marketing and I think they are spending a portion of their raised funds on adverts which I've seen around.

That said there is room for multiple exchanges as we can see with Bitstamp, Poloniex, Bitfinex, GDAX etc.

You can say anything about another team taking a coin's source code and using it. But it's very rare for that to be done successfully hence why most forks don't amount to much. The Blocknet developer had to overcome a lot of hurdles and has a deep understanding of the subtle problems. Don't forget he's been working on this for almost 3 years, not a couple of months.

Yeah there will be a self funding approach put in place for future development. THAT SAID, there's only so much funding can speed things up. COSMOS which is a blatant Blocknet copy raised 10 million plus and they wont launch until Q4 2017... quality original code takes time.

Bottom line is Waves at 130 million market cap means Blocknet is a fucking bargain.

[cryptohunter]

I also think block has a better aproach of dex then waves. But its not always the best idea that wins. Although I think there is room for both coins to exist the only thing that worries me is that things might develop to slow since they have to do everthing alone. Waves have a lot of funding and a hole team developing the protocol.

So there was a ICO for block some time ago now, dont think there is much left from that money? Is there any way we can add (payd)members to the team so development can speed up? I dont know how much of the code is allready opensource if not all so what is stopping a more funded team to use the source code and try be theyre first?  

I think for block to be a huge succes there has to be more then 2 people working on the code. From what I read Dan is a really good coder but he is one man and there are limits to what he can do plus he has the xc community as well.

I dont know for sure but I thought I saw Dan day on slack something about 10% of the block reward goes to funding in the future?

How does the community see this?

I am totally fine with 10% dev funding mechanism. I only hope we can increase the team size. Time is blocks worst enemy at this stage.

Without funding projects die. So long as the spending is on a ledger there is no issue with funding mechanisms of even greater than 10%

[greyskies]

I am totally fine with 10% dev funding mechanism. I only hope we can increase the team size. Time is blocks worst enemy at this stage.

True but it's not a linear thing where throwing 10 times more resources at the problem results at 10 times faster results. Also Dan is looking for another crypto dev, to join the other dev who is helping.

What's slowing down the UI is the guy we are paying isn't immediately available (why we chose a guy who is so busy fuck knows, that was a mistake IMO).

It's all going to come together in the next few weeks with the hard fork and the UI getting done.

What we really need the funding for is for the future DAPPS - e.g. decentralised coin mixer

[greyskies]

Blocknet Dx will be real world's first fully trustless and decentralized working exchange. Their has not been any true decentralized exchange so far. All claims are false and somewhat are covered under some sort of centralization. Blocknet will provide first decentralized working exchange. We don't have to wait much now as everything is on track.

Also don't forget this project is much more than just a decentralised exchange.

The Xbridge enables microservices:

- monetised API consumption
- digital service delivery
- 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.

The sky is the fucking LIMIT with this coin. And the more demand these services pick up over time, the more upwards price pressure it will put on Block as it's required for the services.

I'm getting hyped just writing about it.

[cryptohunter]

I am totally fine with 10% dev funding mechanism. I only hope we can increase the team size. Time is blocks worst enemy at this stage.

True but it's not a linear thing where throwing 10 times more resources at the problem results at 10 times faster results. Also Dan is looking for another crypto dev, to join the other dev who is helping.

What's slowing down the UI is the guy we are paying isn't immediately available (why we chose a guy who is so busy fuck knows, that was a mistake IMO).

It's all going to come together in the next few weeks with the hard fork and the UI getting done.

What we really need the funding for is for the future DAPPS - e.g. decentralised coin mixer

Name the UI guy if he is on here so I can advise others to avoid such a character.

Does he not know he is holding up a potentially billion dollar project? His other projects are likely run of the mill crud that is of no importance.

Let's get our money back and employ someone that understand this is crypto and it moves at light speed compared to other sectors.

The earlier we are out with a good UI the better the reception and uptake.

I am nervously eyeing other atomic trade platforms although their progress is equally snail paced thankfully.

[Hypocritus]

... But its not always the best idea that wins. Although I think there is room for both coins to exist the only thing that worries me is that things might develop to slow since they have to do everthing alone. Waves have a lot of funding and a hole team developing the protocol.

What Waves are good at is marketing and I think they are spending a portion of their raised funds on adverts which I've seen around.

Bottom line is Waves at 130 million market cap means Blocknet is a fucking bargain.

Recognition of one of the mechanism behind the success of other projects is different from being able to change it.

"Marketing" works because it fulfills an essential component of society -- communication -- in an "artistic" manner. It is the "coordinated" and "sculpted" effort of educating (large) amounts of people about the 1) existence, 2) relevance, and 3) desirability of a product or project. "Marketing" also carries the direct or indirect implication of 4) support for a product or project. It is the definite state of "more than one person is involved in this effort".

"Auto-Marketing" happens when the solution of -- and support behind -- a product or project is so good, that the product or project does not have to spend resources "Marketing" it. People are generally so elated to find an viable, economical solution to a problem, that they remember it, and even glow the information to other people, especially when they come upon people with the same problem that they used to have. (An example of this is greyskies last sentence, quoted above)

This is valuable, and rare. So, many (would-be) successful endeavors resort -- at least in part -- to "Marketing".

"Auto-Marketing" does not mean that the project never used Marketing. It just means that the present (and hopefully, persistent) state exists in which a project is meeting the weighty needs of individuals or groups, to the point to where the project/uct no longer has to resort to "marketing".

Marketing, whether Auto- or not, "fulfills a need".

[commenter]

... But its not always the best idea that wins. Although I think there is room for both coins to exist the only thing that worries me is that things might develop to slow since they have to do everthing alone. Waves have a lot of funding and a hole team developing the protocol.

What Waves are good at is marketing and I think they are spending a portion of their raised funds on adverts which I've seen around.

Bottom line is Waves at 130 million market cap means Blocknet is a fucking bargain.

Recognition of one of the mechanism behind the success of other projects is different from being able to change it.

"Marketing" works because it fulfills an essential component of society -- communication -- in an artistic manner. It is the "coordinated" and "sculpted" effort of educating (large) amounts of people about the 1) existence, 2) relevance, and 3) desirability of a product or project. Marketing also carries the direct or indirect implication of 4) support for a product or project. It is the definite state of "more than one person is involved in this effort".

"Auto-Marketing" happens when the solution of -- and support behind -- a product or project is so good, that the product or project does not have to spend resources "Marketing" it. People are generally so elated to find an viable, economical solution to a problem, that they remember it, and even glow the information to other people, especially when they come upon people with the same problem that they used to have.

This is valuable, and rare. So, many successful endeavors resort (at least in part) to "Marketing".

"Auto-Marketing" does not mean that the project never used Marketing. It just means that the present (and hopefully, persistent) state exists in which a project is meeting the weighty needs of individuals or groups, to where they no longer have to resort to "marketing".

Marketing, whether Auto- or not, "fulfills a need".

Once Waves gets over two or three dollars. People will begin moving out of waves and into Blocknet.

[gustopaz]

Yes yes me too hhahaa 

[commenter]

I don't think anyone can become a node any more without pushing up the price of block to .00150, and the exchange will be released in less then four weeks !

[CORNEL]

Agreed with you market cap is not parameter to decide the future of any promising project. The dev team is doing hard work and testing result is also very positive so that I also think soon it will explode.

[commenter]

Waves right now market cap has risen to a crazy $130 million. Whilst Blocknet is sitting on a peanuts market cap of $8 million. And what's mental is this project is ahead of Waves.

This is a golden opportunity before an epic market correction occurs.

Blocknet should be at over 6 dollars already. If Blocknets market is 19million like expanse it would be 6 dollars.
3,900,000 x 19million equals 6 dollars. It's rediculus that Blocknet's market cap is lower then Florin, Ruby, Novacoin, and is almost the same as Solar coin. When it's about to release it's exchange in less then 4 weeks
at 1 hundred and 30 million market cap like Waves, Blocknet will be thirty dollars. There should be press releases about block launching its platform in less then 4 weeks !

[commenter]

How in the world ?   Is Block's market cap below the market cap of ruby coin, florin coin, nova coin. Your kidding right ! It makes no sense ! Blocknet needs to start releasing press articles.

I mean Blocknet will be a true decentralized crypto exchange

Where you can trade without holding coins in an exchange !

Get paid trade fees for running a node, and ruby, florin, nova all have higher market caps !

Even expanse market cap just went to 19million.

Agreed with you market cap is not parameter to decide the future of any promising project. The dev team is doing hard work and testing result is also very positive so that I also think soon it will explode.

[RAGEmond]

I don't think you anyone become a node any more without pushing up the price of block to .00150, and the exchange will be released in less then four weeks !

any official annoucnement about that?

[commenter]

No. What I mean is, if you go to Bittrex to buy enough Block to become a node the price would be push the price up to .0015 (more or less) because there's not enough block available at the lower prices to become a node.

[RAGEmond]

No. What I mean is, if you go to Bittrex to try to buy enough Block to become a node the price would be pushed up to .0015 (more or less) because there's not enough block available at the lower prices to become a node.

I meant the release of the exchange

[synechist]

No. What I mean is, if you go to Bittrex to try to buy enough Block to become a node the price would be pushed up to .0015 (more or less) because there's not enough block available at the lower prices to become a node.

I meant the release of the exchange

Oh I've read it on here a few pages back mid summer in less then 4 weeks hold on I will find it.

Just wanna clarify the details of this:

Quick clarification on this one:

- yes, a hard fork is planned soon. 4 to 8 weeks should  be about right.

- this hard fork is in order to add OP_CHECKLOCKTIMEVERIFY to the Blocknet's chain.

- the functionality this will enable is trade fee collection and distribution by service nodes

- this is not "a production launch" in a general sense of the term. But it is the laying of infrastructure for service nodes, which is pretty big news for all the people buying multiples of 5000 BLOCK to run one of the first services in the world to exist as part of the token ecosystem.

Any rough rough production launch target date?

That's not how we are developing the Blocknet.

This is how we're doing it:

- it's live and working (maturity: "MVP")

- outstanding core features/"infrastructure" come first

- key features for the market come next

- and we'll just keep building from there

The idea of a "production release" doesn't make sense in this space for multiple reasons. Firstly, there's no server room or cloud production environment. Secondly, we're doing continuous deployment, not releasing software on, say, DVDs like Windows XP. Thirdly, we're working in an "agile" way where we knock off little milestones at a time, and just keep demonstrating progress. (Software development works quite well this way.) Finally, you can already use the decentralised exchange right now.

[greyskies]

Other stuff from the lead dev Dan:

- Very soon he will be rolling out a "feature by feature funding system", where the coin staking reward can be contributed towards the development of specific features (unclear if this will also include service fees). This is great news as it helps fund future development which is critical.

- The dx (distributed exchange)  dx will support external api’s and can/will pull from trex/polo. It will support bots/api’s, ( a reference trading bot will be released in python along w/ the dx), generally the bots equalize the price because if it goes up on say trex, then the bot buys up on the DX to sell on trex

- He is looking for people to contribute: "I’m looking for people who are interested on contributing to this project from website content to organizing the materials/information/etc, if your interested DM me or @synechist"