A Guide to Blocknet (BLOCK)

Problems that Blocknet aims to solve

How does Blocknet work?

Main component and governance of Blocknet

Other Blocknet characteristics

  • Service monetization: Nodes of a chain charge other nodes on the network for the services it provides. Blocknet’s coin BLOCK is used to pay for such services.
  • Dapps: Users can use XBridge’s inter-blockchain service delivery to build customized decentralized apps (dapps) and combine favorite blockchain features to form projects in one chain.
  • Protocol Service: This allows any blockchain service to work as a “protocol service,” which can be used by other dapps anywhere and by anyone. This expands the reach of the service and allows for potentially higher revenue.
  • Decentralized coin exchange with increased security: The transactions happen entirely on the chain. There’s no need to convert coins into fiat before trading them for other coins. It all happens through one continuous protocol, which lessens security risks.
  • Control: There is no need for a broker as Blocknet offers trading within its platform, it gives users more control over their cryptocurrencies. Trading within the platform allows users to negotiate pricing directly with peers.
  • Anonymity: the streamlined protocol and lack of third parties decrease the amount of personal information users have to provide.

Final thoughts

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