Blocknet, Blocknet, is a peer-to-chain protocol that allows nodes in separate networks to communicate and handle both value and data transfers. In this article, as Kriptokoin.com, “What is a Blocknet?” We will answer the question. In addition, we will touch on other questions about the project.
What is Blocknet? What does it do?
Blocknet is a decentralized platform-as-a-service protocol that connects nodes of different blockchains. As you probably know, there are hundreds or even thousands of blockchains currently in existence. Also, this number shows no signs of slowing its growth any time soon. However, most of these chains cannot communicate and interact with each other. In addition, it forms small silo ecosystem groups. And the inability of these groups to work together is holding the entire blockchain industry back. To solve this problem, Blocknet is working to make blockchains interoperable, mobile and modular. This provides higher security of different chains than available options today. It provides peer-to-peer microservices to each other with higher speeds and more efficient scalability.
What is BLOCK coin?
BLOCK coin is the native token of Blocknet. When running a stake node, you get a 9-14% annual return on block rewards and a portion of transaction fees. Also, there is no minimum amount of BLOCKs you have to keep in your wallet to get them. But you need to keep the wallet working at all times.
How does Blocknet work?
Blocknet aims to become the “Blockchain Internet” through its inter-blockchain connectivity services. Simply put, Blocknet allows you to develop on a blockchain such as Ethereum, for example, but access functions of other chains such as NEO. The team is building the infrastructure for these cross-chain DApps using three key components that work together to provide three core services.
XBridge, a blockchain router, is the backbone of the Blocknet platform. It is the first peer-to-peer protocol that connects nodes on different blockchains and allows them to communicate with each other. Using XBridge, you will not only be able to perform cross-chain atomic swaps, but also be able to transfer additional data and execute smart contracts between chains. Blocknet uses a token exchange protocol to exchange between chains. With this protocol, your exchanges between coins are instant and do not require a third-party intermediary.
What is Blocknet? How to get BLOCK coin?
Blocknet is currently traded on a small number of cryptocurrency exchanges. People who want to invest in the project should open an account in one of the exchanges where the project is traded. The exchanges where Blocknet is traded are listed as follows: Finexbox, Bittrex. Users who want to invest in the project should open an account on one of these exchanges.
