BlockNet (BLOCK) is an open-source, decentralized, peer-to-peer blocknet protocol based on Xbridge that allows nodes on different blockchains to communicated with each other. The protocol acts as a connector between markets, blockchains and communities without being an intermediary. This protocol achieves this using Atomic swaps, running on a truly decentralized Dapp platform.
BlockNet features Block DX, which is the first Dapp on this protocol that allows users to trade freely andShow more [+] amlessly across different blockchains. Peer-to-peer also allows transfer of data and value across the blockchains enabling the creation of cross-chains decentralized applications.
Blocknet, which started back in 2014, has been developing this protocol to give users an easy time while swaping from one blockchain to another. The protocol is powered by service and staking nodes. It utilizes a hybrid of PoW (Proof-of-Work) and PoS (Proof-of-Stake). The service nodes provide computational power that guard the order book while the staking nodes protect the network.
BLOCK coin has a centralized liquidity and it is not premined. It is available for trading in several exchanges including Bittrex, Upbit, Cryptopia, Novaexchange and CryptoBridge. BlockNet is managed and maintained by the community with no centralized entity. The treasury system is responsible for voting for proposals and allocates 10% of all newly minted coins per month.