Block DX Coins: Weekly Recap #1
Block DX official coin announcements have begun! We are announcing roughly one coin per day with the hashtags: #coinaday & #internetofblockchains across our social media. This is a recap of the first week of coin announcements. This campaign is expected to continue as we approach the full production release of Block DX in the summer.
It would be great if the Blocknet community could help spread the word by posting, retweeting, upvoting and sharing each announcement with the respective communities on Reddit and BTCTalk. It only take a moment. Strength in numbers!
Below you will find links to our social media and links to the social media of the relevant coins that you can comment on, share and upvote to help let the cryptoworld know about the capability these coins are bringing to the internet of blockchains. Below are examples of cross-chain uses that could be built for interoperability on the Blocknet protocol that include general and specific examples for each coin.
Links to share, comment & upvote
Click the links to comment, like and upvote:
Blocknet protocol interoperability example: A coin mixing or payment gateway that automatically trades any currency for the private currency and back into the same or any other currency. Since the decentralized exchange does not require any third party to be trusted with users’ data, and since the atomic swap involves no counterparty risk, the result is strong privacy protection.
Click the links to comment, like and upvote:
Blocknet protocol interoperability example: Use DigiByte to pay for media, place bets, buy good and services on other blockchains, while only holding DigiByte. This can offer a layer of security with DigiByte’s new DigiID feature that allows dApps to have cryptographically verified identification.
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Blocknet protocol interoperability example: Can be accepted as payment through a processor that exchanges Dogecoin for other coins accepted by the vendors. Or perhaps rent videos using LBRY Credit, but pay with Dogecoin.
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Blocknet protocol interoperability example: Hexx will be creating private versions of other blockchains. With the Blocknet protocol, anyone could easily go from say Litecoin, to the Hexx version of Litecoin that has privacy.
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Blocknet protocol interoperability example: HTML Coin smart contracts could automatically place sporting bets on Wagerr, while making all payments through HTML Coin.
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Blocknet protocol interoperability example: An app that uses Block DX to allow any coins to be used for payment of digital content and also integrates other storage blockchains to host the content. More smart contract abilities (e.g. Ethereum integration) could allow to access content based on certain conditions.
Click the links to comment, like and upvote:
Blocknet protocol interoperability example: Now that Litecoin is compatible with the Blocknet Protocol, it can be used in cross-blockchain dapps such as a payment processor that will allow payments accepted in Litecoin to be paid for in any other currency or vice-versa.
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Blocknet protocol interoperability example: Can be accepted as payment through a processor that exchanges those coins for the accepted coins by the vendors.
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Blocknet protocol interoperability example: MonetaryUnit could be used to used to purchase goods and services off the Syscoin Block-market.
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Blocknet protocol interoperability example: A coin mixing or payment gateway that automatically trades any currency for PIVX and back into the same or any other currency. Since Block DX does not require any third party to be trusted with users’ data, and since the atomic swap involves no counterparty risk, the result is strong privacy protection.
Click the links to comment, like and upvote:
Blocknet protocol interoperability example: SYS could use other blockchains for tracking the shipping of products sold on the Block-market. This would make it more difficult for vendors to artificially inflate the number of positive reviews. Or the Sys marketplace service could be integrated into dapps.
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Blocknet protocol interoperability example: Users of the betting platform could place bets and receive winnings in any currency. The bets would automatically be converted to a common base token/coin for the purposes of executing the betting smart contract and could be converted back when winnings are paid out.
Click the links to comment, like and upvote:
Blocknet protocol interoperability example: You can trade from your wallet so you don’t need to worry about funds being on a third party exchange when Zoin take the snapshot for their upcoming airdrop for NIX.
Useful information
- The Blocknet Coinhub These coins are ready for cross-chain dApps with the Blocknet Protocol, and tradable on Block DX.
- A constantly updated list of compatible coins can be founds here.
- Understanding a Decentralized Exchange
- What is needed to be listed on Block DX
- Block DX set up guide
- Coin Configuration set up — Block DX Tutorial — 2 min video
- XBridge Configuration set up — Block DX Tutorial — 2 min video
- Fee Structure
- Whitepaper
Coming up
- SPV integration is underway, which allows for transactions to be verified through our Service Node network that are sent from a multi-wallet or lite wallet. This would remove the requirement for a trader to have the synced blockchain of any coins being traded.
- Automated trading set up to streamline the set up process and make it more user friendly.
- A trading library is also under development. This library offers additional tools and abstraction to simplify the process of building a trading bot.
- Implementation of the automatic purchase of Block from the top of the market to cover fees. This will mean constant buy pressure on Block.
If you have any questions, please contact us on our social media.
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