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/BLOCK/ General - New horizons edition
>What is Blocknet?
Blocknet is a platform which allows communication between different blockchains. The team are currently pushing for a softfork+new wallet in the next few hours as well as a new trading platform ui which has cost them $150,000.
>Why invest in Blocknet?
The current price is around $15. With the release of service nodes in the next few hours/day, the staking rewards are changing to a 70/30 split favouring nodes vs a current model of awarding stakers only. A node currently costs 5000 BLOCK; this shift will incentive long term holding = more scarcity.
Knowing the fees for the DEX will be paid for indirectly via BLOCK (exchange fees are to be exchanged from % fees-> btc->block); this will create a massive upwards buying pressure in BLOCK whenever a high trading volume is built up through the DEX.
This means if the DEX is moderately successful, expect a unit of BLOCK to skyrocket via passive pressure.
>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 fulfilment.
Website: https://blocknet.co/
Twitter: https://twitter.com/the_blocknet
Slack: http://blocknet.herokuapp.com/
ANN: https://bitcointalk.org/index.php?topic=829576.0
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>What is in the works for Blocknet?
New UI releasing next few hours/day + new trading ui. SPV wallets coming within 2 months.
>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.
Blocknet in action:
https://www.youtube.com/watch?v=aG4z-oZ1-zc&list=PLtDCeQqUwetQzWYJ9iZGmHCCG1b02b1M-&index=2
Further viewing:
https://www.youtube.com/playlist?list=PLtDCeQqUwetQzWYJ9iZGmHCCG1b02b1M-
https://www.youtube.com/playlist?list=PLtDCeQqUwetSAJbP2CVl1w-Z4souLlhVS
TLDR;
>Fully decentralized exchange.
>Trustless atomic swaps across blockchains (already developed and available for testing).
>Decentralized exchange goes to main net in a few hours/day.
>Tech leader in terms of decentralised exchange+
>No one has heard of the Blocknet yet. Low marketcap and price.
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