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Anonymous
/BLOCK/ General. Gains Edition 2017-06-20 11:30:17 Post No. 2526805
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/BLOCK/ General. Gains Edition 2017-06-20 11:30:17 Post No. 2526805
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>What is Blocknet?
Blocknet is a platform which allows communication between different blockchains. The team are currently pushing for a softfork and new ui in the next few weeks which will allow users to easily trade coins in a decentralised manner.
>What is the advantage of using Blocknet rather than other 'decentralised' exchanges
Blocknet is the first truly decentralised trading platform. With a platform such as WAVES there are 3 parties involved: the buyer, seller, and arbitrator. Blocknet involves atomic swapping which means an order is put through on the blocknet wallet i.e. Seller A wants x amount of btc for x amount of ltc. Seller B puts the order through the Blocknet client and the protocol withdraws x amount of ltc from seller A's litecoin wallet and x amount of btc from seller B's btc wallet instantaneously. No intermediaries needed.
>Why use Blocknet?
A massive problem with crypto at the moment is the way exchange security is handled. Mtgox and the high rates of hacking cases in bittrex are an example. With Blocknet there is no reliance on a centralised wallet, centralised orderbook or centralised order fulfillment.
>What is in the works for Blocknet?
New UI releasing next few weeks as well as DEX launching. SPV wallets coming soon.
Website: https://blocknet.co/
Twitter: https://twitter.com/the_blocknet
Slack: http://blocknet.herokuapp.com/
TLDR;
>Fully decentralized exchange.
>Trustless atomic swaps across blockchains (already developed and available for testing).
>Decentralized exchange goes to main net in a few weeks.
>Similar "products" are 2+ years behind in development.
>No one has heard of the Blocknet yet. Low marketcap and price.
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This coin is really old and the devs have a lot of negative things swirling around them. That with the low volume makes it remind me of xby
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>>2526818
Old FUD campaign against XC and Block. If this held ground you wouldn't be able to use the DX in testnet and verify recent Github updates.
Here is a video showing the DX in action using cmd line:
https://www.youtube.com/watch?v=ALxr7MpaIoA
The current coins available for trading are SYS, LTC, BTC. Other coins talked about are BAY. The dev is currently downloading DGB to verify interoperability so DGB may also be officially trade-able.
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>>2526805
>Blocknet is the first truly decentralised trading platform.
Wow that's new
1654665468 other coin pretend that they are the first but this one is the first "TRULY" decentralised !
Next what? Another coin that is the first REALLY TRULLY VERIFIED decentralised coin?
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>>2526888
Other 'DEX' utilise coloured coin swapping i.e deposit coin then give mark to coin allowing for a trade. Blocknet utilises atomic swapping so no deposits or withdrawals needed.
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>>2526888
I'm tired of that line too but what other "exchange" coins are you thinking of? Waves isn't decentralized, bancor is decentralized but not really a true exchange
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>>2526931
And how is this a "true exchange"?
You need to run full nodes for the coins you want to trade. You cant set orders quickly and remove them etc like Poloniex, where you have a chart etc (this is why people risk it on centralized exchanges because you can actually trade)
This is more like a marketplace like localbitcoins, not an exchange.
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>>2527339
Yeah I ain't buying this coin, I agree about the issues. I was just thinking that even though so many coins claim to be an exchange none of them are really
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>>2527339
You don't run full nodes to exchange. You can set multiple orders at once for different coins which is a major advantage of Blocknet, you aren't stuck waiting for your coins in limbo whilst an order is fulfilled. Multiple orders can be put through for different coins and whichever is fulfilled first is accepted.
This is exactly like a traditional exchange except there are no intermediaries and trading is done buyer to seller rather than buyer to intermediary to seller
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