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

[bamsterdam]

that would be great but I dont understand why exchanges would do that since they miss out on the fee themself?

[Johnny00]

that would be great but I dont understand why exchanges would do that since they miss out on the fee themself?

He's refering to people buy and sell. Nothung to do with exchanges

[derped]

that would be great but I dont understand why exchanges would do that since they miss out on the fee themself?

And exchanges would still benefit greatly from the high volume seeing how high they charge for on site transactions + withdrawal fees

[lijoe408]

When Blocknet will be more user friendly?

Doesn't seem like it atm.  From what I gather, you must download the wallet of each trading pair in order to conduct a trade.  It remains to be seen if people will actually go through the effort.  The project shows alot of promise though.  The low supply is very good.

Could this platform be used to trade something like Blackbytes? There is a huge demand from the Byteball community to find some way to trade these.  If you could implement blackbyte trading then you would gain the attention of the whole byteball community as every member has Blackbytes.

[truxton]

When Blocknet will be more user friendly?

Doesn't seem like it atm.  From what I gather, you must download the wallet of each trading pair in order to conduct a trade.  It remains to be seen if people will actually go through the effort. 

Hi.  While it is true that RIGHT NOW you must download whole blockchains, this will not remain true for very long.  This is from the road map posted on the previous page (In Bold):

Production blockchain launch
- Service nodes launch on mainnet
- Design specification document ("white paper")
- Decentralized exchange app ("UI")
- Decentralized exchange SPV multiwallet (no full blockchains)

Once SPV in up and running, you will no longer have to download full Blockchains. :0

[Irky]

When staking blocknet, do i need to keep wallet on at all times? Thx.

No. Just unlock the wallet every few days to a week and it will stake still.  The amount will be more per stake, but still works out the same.   eg.   chunky (higher coins per transaction) vs noisy (less coins, but more transactions)

Thx cryptoxman:*is it worth staking 100 block?

Do you want extra block for doing nothing but unlocking your wallet?   Same answer to your question.  For now it's around $12 per block... What if it jumps to 40-50 or even $200 each later on...  Why not get the free coins?

The annual PoS rate is 3%, but yes with the increasing  price it's definitely good to get some extra coins.

PoS is 9% after last release

So, apparently after the QT wallet update scheduled for next week it will no longer be true that you only have to unlock your wallet every few days in order to stake coins (which is what I've been doing since I currently have my wallet on the laptop I carry around with me).  The good news is that the POS rate is increasing to 9% (more like 8% since 1% goes to development funds), but the not as good news is that staking will no longer be dependent on coin age and so you will have to keep your wallet online and unlocked 24/7 in order to receive maximum staking rewards.

[kaltron]

Back of napkin calculation, do I have this right?

6 million BLOCKs are burned.
The top holders with enough to run a service node have roughly 3.6 million according to https://chainz.cryptoid.info/block/#!rich
The rest have 470k

Assuming that everyone who can run a service node is, and anyone who can stake is doing so.

If you have 5k and run a service node, you get a reward of 0.7 * 5k / 3.6 million =  0.00097222222
If you have 5k and stake through your wallet, you get a reward of 0.3 * 5k / 470k = 0.00319148936

Or do service nodes get both the service and staking reward?

if u run node service, u'll ve stake reward + transactions fees (≈ 0,13%-0,15%)...
The stake rewards 'll be negligible compared to transactions fees ...

If BLOCK succeeded to attract cryptocurrencies exchangers, u can imagine the volume of transit through the nodes, and the gains that can be generated by each node.

Thanks that makes sense. The piece that I was missing is that 1 BLOCK is already being created per minute. Proof of staking is new to me  . I wish I had found out about this project earlier, its incredibly promising.

Does anyone know exactly how the 5000 requirement to run a node was decided? I saw it was referenced earlier as being decided by vote - so what's the benefits of 5000, and not 10000? Or 1000? The number sets an effective upper limit on the total market cap of the coin, correct?

[crypt0biwan]

Really looking forward to the service nodes guys! awesome :-)

[Zenoru]

Looks like we reached another USD all-time high ($15.53) as far as I can tell from coinmarketcap - although it's still down in terms of BTC value. Though Blocknet is holding up very well against the Bitcoin rally to $4000+. The nice thing is, because Blocknet is infrastructure, crypto doing well generally translates to Blocknet doing well. Can't wait for this to move to $100 and beyond.

[Optimiza]

What would be the advantages of blocknet over the comit protocol which TenX is working on? Would they serve the same function? Thanks

[truxton]

Looks like we reached another USD all-time high ($15.53) as far as I can tell from coinmarketcap - although it's still down in terms of BTC value. Though Blocknet is holding up very well against the Bitcoin rally to $4000+. The nice thing is, because Blocknet is infrastructure, crypto doing well generally translates to Blocknet doing well. Can't wait for this to move to $100 and beyond.

It reached over $16.00 a few hours ago.

[Gelbstich]

When will the production blockchain and whitepaper approximately be released?

[gerdab]

When will the production blockchain and whitepaper approximately be released?

Between March 13 and 20, 2018

[Lautrer]

When will the production blockchain and whitepaper approximately be released?

Between March 13 and 20, 2018

Do not spread wrong infos please!

[gerdab]

When will the production blockchain and whitepaper approximately be released?

Between March 13 and 20, 2018

Do not spread wrong infos please!

So what's the correct info?

[leopold23]

hello everybody, i want to use the Blocknet exchange daily and be a long term investor in the BLOCK coin, after i studied a while i have few questions.


1. IS BLOCKNET the answer to what happened to BTC-E recently, a decentralized exchange where authorities can't seize honest client assets anytime they want?
2. What will happen after you will have a huge exchange volume and possible you will be accused for money laundering ( even if not true), you will submit to the authorities
and implement a KYC/AML verification process?
3.  When you plan to release the Decentralized exchange SPV multiwallet along with a user-friendly interface?
4. How BLOCKNET will be different than BITSHARES, Waves, Agama, or  COINOMI(shapeshift) app and how do you plan to overcome them?
5. Do you plan to invest in PR and bring a promoter to do what Charlie Lee makes for LTC, Amanda Johnson for Dash or Julian Hosp for Tenx Pay coin,
a local hosted decentralized exchange is a great idea, but is worth nothing if you will have a small volume exchange.

I hope somebody can answer to these questions, i ve lost most of my funds in the btc-e exchange, since then i'm looking for a local descentralized
exchange.

|Thank you

[synechist]

hello everybody, i want to use the Blocknet exchange daily and be a long term investor in the BLOCK coin, after i studied a while i have few questions.


1. IS BLOCKNET the answer to what happened to BTC-E recently, a decentralized exchange where authorities can't seize honest client assets anytime they want?
2. What will happen after you will have a huge exchange volume and possible you will be accused for money laundering ( even if not true), you will submit to the authorities
and implement a KYC/AML verification process?
3.  When you plan to release the Decentralized exchange SPV multiwallet along with a user-friendly interface?
4. How BLOCKNET will be different than BITSHARES, Waves, Agama, or  COINOMI(shapeshift) app and how do you plan to overcome them?
5. Do you plan to invest in PR and bring a promoter to do what Charlie Lee makes for LTC, Amanda Johnson for Dash or Julian Hosp for Tenx Pay coin,
a local hosted decentralized exchange is a great idea, but is worth nothing if you will have a small volume exchange.

I hope somebody can answer to these questions, i ve lost most of my funds in the btc-e exchange, since then i'm looking for a local descentralized
exchange.

|Thank you

Hey

Very sorry to hear you fell victim to BTCe! It's awful.

1. Yes, when trading over the Blocknet, you hold your coins the entire time and no third party gains control over them.
2. The Blocknet is not a company, it is infrastructure. You can't really take a road to court. Being decentralized, it's also about as unstoppable as Bitcoin.
3. The UI is in development already. An SPV multiwallet will either come after that, or will be developed concurrently.
4. The Blocknet is the only decentralized exchange technology that decentralized the four core functions of an exchange: deposits, order broadcast, order matching, and coin exchange. Every other technology we're aware of has not achieved this.
5. Yes. With the launch of our production blockchain, we will become capable of funding marketing activities and employing marketing people.
5a. Regarding you remark about a small volume exchange being worth nothing, we plan to integrate with Ethfinex, Bitfinex's decentralization initiative, which will give users of our technology access to Bitfinex's order book, completely removing any issue of low liquidity or volume.

[gerdab]

1. IS BLOCKNET the answer to what happened to BTC-E recently, a decentralized exchange where authorities can't seize honest client assets anytime they want?

no, BLOCK isn't an alternative to BTC-e.
in platefom like BTC-e u can buy/sell cryptocurrencies for USD, EUR and..., in Blocknet u can buy/sell cryptocurrencies for others cryptocurrencies...

[Fishallday44a]

When Blocknet will be more user friendly?

Doesn't seem like it atm.  From what I gather, you must download the wallet of each trading pair in order to conduct a trade.  It remains to be seen if people will actually go through the effort. 

Hi.  While it is true that RIGHT NOW you must download whole blockchains, this will not remain true for very long.  This is from the road map posted on the previous page (In Bold):

Production blockchain launch
- Service nodes launch on mainnet
- Design specification document ("white paper")
- Decentralized exchange app ("UI")
- Decentralized exchange SPV multiwallet (no full blockchains)

Once SPV in up and running, you will no longer have to download full Blockchains. :0

Oh no not again. Truxton....lijoe408 never mentioned anything about downloading ENTIRE BLOCKCHAINS. Yes we are all aware someday you'll tackle spv and you won't have to wait days while each blockchain is synced but that's beside the point. What he was bringing up, and which several others have brought up, is the fact that users will still have to download the wallets (NOT entire blockchains) of each coin they want to trade which will be a royal pain in the butt and a big turn off for any user looking to use blocknet. Crypto is complicated enough as it is, users want straight forward and easy to use tech. Ya we know blocknet is safer but if it isn't as user friendly as centralized exchanges it's got a tough road ahead of it.

[CryptoXMan]

When Blocknet will be more user friendly?

Doesn't seem like it atm.  From what I gather, you must download the wallet of each trading pair in order to conduct a trade.  It remains to be seen if people will actually go through the effort. 

Hi.  While it is true that RIGHT NOW you must download whole blockchains, this will not remain true for very long.  This is from the road map posted on the previous page (In Bold):

Production blockchain launch
- Service nodes launch on mainnet
- Design specification document ("white paper")
- Decentralized exchange app ("UI")
- Decentralized exchange SPV multiwallet (no full blockchains)

Once SPV in up and running, you will no longer have to download full Blockchains. :0

Oh no not again. Truxton....lijoe408 never mentioned anything about downloading ENTIRE BLOCKCHAINS. Yes we are all aware someday you'll tackle spv and you won't have to wait days while each blockchain is synced but that's beside the point. What he was bringing up, and which several others have brought up, is the fact that users will still have to download the wallets (NOT entire blockchains) of each coin they want to trade which will be a royal pain in the butt and a big turn off for any user looking to use blocknet. Crypto is complicated enough as it is, users want straight forward and easy to use tech. Ya we know blocknet is safer but if it isn't as user friendly as centralized exchanges it's got a tough road ahead of it.

Think about it for one second.   The only time you are in control of your coins is...?   You have your own private key and when you have your private key, you will need...?   That's right.  The wallet of the coins that you control....    You can't ask for control of your coins and then NOT have the wallet of the coin you want to be in control of.....