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

[XRP1]

I don't understand. They do the same thing? They are direct competitors? https://nvo.io/index.html

No.

One doesn't do anything except sell its tokens for their future exchange.

The other is currently live on testnet, mainnet soon.

OK. The thing is, I do not know much English and sometimes it's difficult for me to understand all the information. Thank you for explaining. But I like Blocknet and I regret that I did not learn about it before. Now I can not buy enough coins to be enriched in the future. But I will still support this project. He has a good future.

[truxton]

New update:

There is another update coming this week, with the focus being on the updated api and orderbook.  There will be active trading tests via “bots” on testnet.
The update will be tomorrow and the goal is to have the bots working by the weekend.

Internal testing on the service nodes will also begin by the end of the week (this is an alpha release only).

[Guido]

New update:

There is another update coming this week, with the focus being on the updated api and orderbook.  There will be active trading tests via “bots” on testnet.
The update will be tomorrow and the goal is to have the bots working by the weekend.

Internal testing on the service nodes will also begin by the end of the week (this is an alpha release only).

thanks for update
future looks rosy

I trust exchanges less and less

polo banned trollbox, go by trollboxes on btce etc , there are literally dozens of people daily ruining polo, how funds got stolen, no support
matter of time before it is the next cryptsy

livecoin is a good exchnage but there are zero details on there. nothing, complete strangers, could do a bunk any day
gox etc

I lost some funds on couple smaller exchanges safecex lol and allcoin

when blocknet is fully up and running soon , people are going to wonder how they managed without

exchanges will still last, centralised as many dont want fixed price trades they want the pumping and dumping

blocknet will also be perfect for whales and new money wanting big trades at fixed prices and secure escrow sales

I see blocknet $60-80 range inside next 4-6 months

[Lautrer]

The only exchange i trust now is bittrex, but do not ask me why, just feeling! I took all my money from poloniex just because they had too much problems, probably i am not right and poloniex is perfect, but weeks over weeks of waiting to get an answer for a ticket, problems everywhere, banned trollbox because of bad athmosphere, (nothing else i think,) is not a good sign for the future!

Time for Blocknet to come up! Everyone i his own exchange!


HODL Block!

[Xaltotun]

Everyone is his own exchange!

That is a awesome thought.

[Zimtente]

New update:

There is another update coming this week, with the focus being on the updated api and orderbook.  There will be active trading tests via “bots” on testnet.
The update will be tomorrow and the goal is to have the bots working by the weekend.

Internal testing on the service nodes will also begin by the end of the week (this is an alpha release only).

thanks for update
future looks rosy

I trust exchanges less and less

polo banned trollbox, go by trollboxes on btce etc , there are literally dozens of people daily ruining polo, how funds got stolen, no support
matter of time before it is the next cryptsy

livecoin is a good exchnage but there are zero details on there. nothing, complete strangers, could do a bunk any day
gox etc

I lost some funds on couple smaller exchanges safecex lol and allcoin

when blocknet is fully up and running soon , people are going to wonder how they managed without

exchanges will still last, centralised as many dont want fixed price trades they want the pumping and dumping

blocknet will also be perfect for whales and new money wanting big trades at fixed prices and secure escrow sales

I see blocknet $60-80 range inside next 4-6 months

true 0/

just a thought of mine - if blocknet is a Blockchain to Blockchain trading platform - how does the transaction time work?

say for example i want to exchange BTC for LTC. Blocktimes/Confirmation times are different so im locked until ive got my coins? (to trade further) also who does pay the transaction fee for the trade? (BTC and LTC)

i mean if i want to buy a coin because i believe in it longtherm its a great solution because i dont have to trust a central authority but if i just want to daytrade or scalp the markets im way better with polo/bittrex/whatever?

thanks!

[xnight149]

check it now

https://www.investitin.com/blocknet-decentralised-cryptocurrency-exchange/amp/

[truxton]

[86B]

true 0/

just a thought of mine - if blocknet is a Blockchain to Blockchain trading platform - how does the transaction time work?

say for example i want to exchange BTC for LTC. Blocktimes/Confirmation times are different so im locked until ive got my coins? (to trade further) also who does pay the transaction fee for the trade? (BTC and LTC)

i mean if i want to buy a coin because i believe in it longtherm its a great solution because i dont have to trust a central authority but if i just want to daytrade or scalp the markets im way better with polo/bittrex/whatever?

thanks!

synechist from the dev team answers this in the Reddit Blocknet AMA, here's the piece discussing your question - https://www.reddit.com/r/theblocknet/comments/676buj/ask_anything_about_blocknet_qa/#bottom-comments

Several people have asked what the speed of the decentralised exchange is, and how it will be affected by heavy volume, so I'll put that down here as a question.

[–]synechist 2 points 1 month ago
The capacity of the Blocknet's decentralised exchange increases with its user base. Since order broadcast and order matching are completely decentralised, there are no bottlenecks other than the ones which lie with users, namely their local internet connections.
In addition though, there is a shared capacity in the broadcasting system, which is really sky-high. Here is a relevant quotation from a Bitcoin wiki (https://en.bitcoin.it/wiki/Scalability#Scalability_targets):

Network Let's assume an average rate of 2000tps, so just VISA. Transactions vary in size from about 0.2 kilobytes to over 1 kilobyte, but it's averaging half a kilobyte today. That means that you need to keep up with around 8 megabits/second of transaction data (2000tps * 512 bytes) / 1024 bytes in a kilobyte / 1024 kilobytes in a megabyte = 0.97 megabytes per second * 8 = 7.8 megabits/second. This sort of bandwidth is already common for even residential connections today, and is certainly at the low end of what colocation providers would expect to provide you with. When blocks are solved, the current protocol will send the transactions again, even if a peer has already seen it at broadcast time. Fixing this to make blocks just list of hashes would resolve the issue and make the bandwidth needed for block broadcast negligable. So whilst this optimization isn't fully implemented today, we do not consider block transmission bandwidth here.

Finally, there is an inherent limitation in the blockchains traders choose to use which affects the time between trading coins and re-trading them, which is the blockchain's confirmation time. Thus, if a trader wishes to trade Bitcoin at a "trustless" (well, widely regarded as non-risky) level of security, (s)he should wait an hour before re-trading an address. However, I have proposed a solution to this, in the form of a "0-conf slider" in the UI, which functions to filter orders according to the number of confirnations that the user is willing to wait for. Thus, at a small increase of risk, scalping and other fast trading strategies may be employed.
I think that suitably addresses concerns. The Blocknet is fast.

Hope this helps!

[Zimtente]

true 0/

just a thought of mine - if blocknet is a Blockchain to Blockchain trading platform - how does the transaction time work?

say for example i want to exchange BTC for LTC. Blocktimes/Confirmation times are different so im locked until ive got my coins? (to trade further) also who does pay the transaction fee for the trade? (BTC and LTC)

i mean if i want to buy a coin because i believe in it longtherm its a great solution because i dont have to trust a central authority but if i just want to daytrade or scalp the markets im way better with polo/bittrex/whatever?

thanks!

synechist from the dev team answers this in the Reddit Blocknet AMA, here's the piece discussing your question - https://www.reddit.com/r/theblocknet/comments/676buj/ask_anything_about_blocknet_qa/#bottom-comments

Several people have asked what the speed of the decentralised exchange is, and how it will be affected by heavy volume, so I'll put that down here as a question.

[–]synechist 2 points 1 month ago
The capacity of the Blocknet's decentralised exchange increases with its user base. Since order broadcast and order matching are completely decentralised, there are no bottlenecks other than the ones which lie with users, namely their local internet connections.
In addition though, there is a shared capacity in the broadcasting system, which is really sky-high. Here is a relevant quotation from a Bitcoin wiki (https://en.bitcoin.it/wiki/Scalability#Scalability_targets):

Network Let's assume an average rate of 2000tps, so just VISA. Transactions vary in size from about 0.2 kilobytes to over 1 kilobyte, but it's averaging half a kilobyte today. That means that you need to keep up with around 8 megabits/second of transaction data (2000tps * 512 bytes) / 1024 bytes in a kilobyte / 1024 kilobytes in a megabyte = 0.97 megabytes per second * 8 = 7.8 megabits/second. This sort of bandwidth is already common for even residential connections today, and is certainly at the low end of what colocation providers would expect to provide you with. When blocks are solved, the current protocol will send the transactions again, even if a peer has already seen it at broadcast time. Fixing this to make blocks just list of hashes would resolve the issue and make the bandwidth needed for block broadcast negligable. So whilst this optimization isn't fully implemented today, we do not consider block transmission bandwidth here.

Finally, there is an inherent limitation in the blockchains traders choose to use which affects the time between trading coins and re-trading them, which is the blockchain's confirmation time. Thus, if a trader wishes to trade Bitcoin at a "trustless" (well, widely regarded as non-risky) level of security, (s)he should wait an hour before re-trading an address. However, I have proposed a solution to this, in the form of a "0-conf slider" in the UI, which functions to filter orders according to the number of confirnations that the user is willing to wait for. Thus, at a small increase of risk, scalping and other fast trading strategies may be employed.
I think that suitably addresses concerns. The Blocknet is fast.

Hope this helps!

thank you!

what exaclty is the risk? is there a more technical explanation? also - when im trading with coins i dont have a confirmation to spend on, how does blocknet or my bitcoin/litecoin wallet block the coins not to be spend elsewhere? as i understand i will need the full blockchains to do transactions. so i guess the blocknet client is executing transactions via my btc/ltc client?

[truxton]

Quick update: Testing is in full swing and appears to be going very well with various currencies and various users testing out different trade combinations.

[Dotcommie]

true 0/

just a thought of mine - if blocknet is a Blockchain to Blockchain trading platform - how does the transaction time work?

say for example i want to exchange BTC for LTC. Blocktimes/Confirmation times are different so im locked until ive got my coins? (to trade further) also who does pay the transaction fee for the trade? (BTC and LTC)

i mean if i want to buy a coin because i believe in it longtherm its a great solution because i dont have to trust a central authority but if i just want to daytrade or scalp the markets im way better with polo/bittrex/whatever?

thanks!

synechist from the dev team answers this in the Reddit Blocknet AMA, here's the piece discussing your question - https://www.reddit.com/r/theblocknet/comments/676buj/ask_anything_about_blocknet_qa/#bottom-comments

Several people have asked what the speed of the decentralised exchange is, and how it will be affected by heavy volume, so I'll put that down here as a question.

[–]synechist 2 points 1 month ago
The capacity of the Blocknet's decentralised exchange increases with its user base. Since order broadcast and order matching are completely decentralised, there are no bottlenecks other than the ones which lie with users, namely their local internet connections.
In addition though, there is a shared capacity in the broadcasting system, which is really sky-high. Here is a relevant quotation from a Bitcoin wiki (https://en.bitcoin.it/wiki/Scalability#Scalability_targets):

Network Let's assume an average rate of 2000tps, so just VISA. Transactions vary in size from about 0.2 kilobytes to over 1 kilobyte, but it's averaging half a kilobyte today. That means that you need to keep up with around 8 megabits/second of transaction data (2000tps * 512 bytes) / 1024 bytes in a kilobyte / 1024 kilobytes in a megabyte = 0.97 megabytes per second * 8 = 7.8 megabits/second. This sort of bandwidth is already common for even residential connections today, and is certainly at the low end of what colocation providers would expect to provide you with. When blocks are solved, the current protocol will send the transactions again, even if a peer has already seen it at broadcast time. Fixing this to make blocks just list of hashes would resolve the issue and make the bandwidth needed for block broadcast negligable. So whilst this optimization isn't fully implemented today, we do not consider block transmission bandwidth here.

Finally, there is an inherent limitation in the blockchains traders choose to use which affects the time between trading coins and re-trading them, which is the blockchain's confirmation time. Thus, if a trader wishes to trade Bitcoin at a "trustless" (well, widely regarded as non-risky) level of security, (s)he should wait an hour before re-trading an address. However, I have proposed a solution to this, in the form of a "0-conf slider" in the UI, which functions to filter orders according to the number of confirnations that the user is willing to wait for. Thus, at a small increase of risk, scalping and other fast trading strategies may be employed.
I think that suitably addresses concerns. The Blocknet is fast.

Hope this helps!

thank you!

what exaclty is the risk? is there a more technical explanation? also - when im trading with coins i dont have a confirmation to spend on, how does blocknet or my bitcoin/litecoin wallet block the coins not to be spend elsewhere? as i understand i will need the full blockchains to do transactions. so i guess the blocknet client is executing transactions via my btc/ltc client?

I believe that's why they need oplockverify option enabled. It acts as a kind of escrow in this case and will make sure the coins sent and received are valid and will be confirmed properly, etc.

[xnight149]

philipmarshall [2:40 AM]
I have an update from Arlyn @synechist for you all:

[2:40]
He has been chipping away at the design spec, and yesterday succeeded in placing orders for both Bitbay and Digibyte.
Will spread the word after he contacts the respective devs.
So not all is quiet with him. he says he just have very little energy and only has few hours of work in him per day right now.
He says multiple questions on multiple channels sounds completely overwhelming at the moment but to tell the good folks he is alive and working. (edited)

[D-Lux]

Would it be accurate to summarize Blocknet as a direct peer-to-peer exchange of digital assets?

I've been doing a bunch of research lately and fsr ... my understanding of Blocknet keeps getting pulled in different directions.

Can Blocknet be summarized "in a nutshell" (I realize leaving a lot out, but still ...), and if so, is the above summary about right?

[pumpmydump]

Would it be accurate to summarize Blocknet as a direct peer-to-peer exchange of digital assets?

Direct peer-to-peer is a characteristic of a (truly) decentralized exchange. Another characteristic is that you can't get scammed (as opposed to classical peer-to-peer where someone could pretend he has the assets you're looking for and just run with your money, or where you would need to use an escrow for safety)

[Zimtente]

true 0/

just a thought of mine - if blocknet is a Blockchain to Blockchain trading platform - how does the transaction time work?

say for example i want to exchange BTC for LTC. Blocktimes/Confirmation times are different so im locked until ive got my coins? (to trade further) also who does pay the transaction fee for the trade? (BTC and LTC)

i mean if i want to buy a coin because i believe in it longtherm its a great solution because i dont have to trust a central authority but if i just want to daytrade or scalp the markets im way better with polo/bittrex/whatever?

thanks!

synechist from the dev team answers this in the Reddit Blocknet AMA, here's the piece discussing your question - https://www.reddit.com/r/theblocknet/comments/676buj/ask_anything_about_blocknet_qa/#bottom-comments

Several people have asked what the speed of the decentralised exchange is, and how it will be affected by heavy volume, so I'll put that down here as a question.

[–]synechist 2 points 1 month ago
The capacity of the Blocknet's decentralised exchange increases with its user base. Since order broadcast and order matching are completely decentralised, there are no bottlenecks other than the ones which lie with users, namely their local internet connections.
In addition though, there is a shared capacity in the broadcasting system, which is really sky-high. Here is a relevant quotation from a Bitcoin wiki (https://en.bitcoin.it/wiki/Scalability#Scalability_targets):

Network Let's assume an average rate of 2000tps, so just VISA. Transactions vary in size from about 0.2 kilobytes to over 1 kilobyte, but it's averaging half a kilobyte today. That means that you need to keep up with around 8 megabits/second of transaction data (2000tps * 512 bytes) / 1024 bytes in a kilobyte / 1024 kilobytes in a megabyte = 0.97 megabytes per second * 8 = 7.8 megabits/second. This sort of bandwidth is already common for even residential connections today, and is certainly at the low end of what colocation providers would expect to provide you with. When blocks are solved, the current protocol will send the transactions again, even if a peer has already seen it at broadcast time. Fixing this to make blocks just list of hashes would resolve the issue and make the bandwidth needed for block broadcast negligable. So whilst this optimization isn't fully implemented today, we do not consider block transmission bandwidth here.

Finally, there is an inherent limitation in the blockchains traders choose to use which affects the time between trading coins and re-trading them, which is the blockchain's confirmation time. Thus, if a trader wishes to trade Bitcoin at a "trustless" (well, widely regarded as non-risky) level of security, (s)he should wait an hour before re-trading an address. However, I have proposed a solution to this, in the form of a "0-conf slider" in the UI, which functions to filter orders according to the number of confirnations that the user is willing to wait for. Thus, at a small increase of risk, scalping and other fast trading strategies may be employed.
I think that suitably addresses concerns. The Blocknet is fast.

Hope this helps!

thank you!

what exaclty is the risk? is there a more technical explanation? also - when im trading with coins i dont have a confirmation to spend on, how does blocknet or my bitcoin/litecoin wallet block the coins not to be spend elsewhere? as i understand i will need the full blockchains to do transactions. so i guess the blocknet client is executing transactions via my btc/ltc client?

I believe that's why they need oplockverify option enabled. It acts as a kind of escrow in this case and will make sure the coins sent and received are valid and will be confirmed properly, etc.

ah ok - thanks ;-)

[86B]

The Slack #testnet community team would like to officially confirm that DASH is supported on the Blocknet DX after a successful XBridge SYS for DASH trade about an hour ago!  Special thanks to xman and aderks for their help in testing!

[synechist]

The Blocknet's German thread has now been added to the OP. :-)

https://bitcointalk.org/index.php?topic=1974420.0

[Zer0p0inT]

Which coins will be on the first launch? And is XC still being developed or is it history?

Which coins will be on the first launch? And is XC still being developed or is it history?

Lol

Sorry, not everyone is a genius like you. I don't understand anything technical about blockchain or any of these shitcoins. Im in this to make a quick buck and gtfo, like most.

[*Sakura*]

The Slack #testnet community team would like to officially confirm that DASH is supported on the Blocknet DX after a successful XBridge SYS for DASH trade about an hour ago!  Special thanks to xman and aderks for their help in testing!

It's very good news. Keep up the good work, devs!