/BLOCK/ General

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/BLOCK/ General

>What is Blocknet?
Blocknet is a platform which allows communication between different blockchains. The team are currently pushing for a softfork and new ui by next week 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 decentralised trading platform utilising atomic swap. 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.