New Coins added to the Internet of Blockchains: Weekly Recap #5
Official coin announcements are continuing! Each of these coins are supported on the Blocknet protocol, making them ready for cross-blockchain dApps, and tradable on the Block DX Decentralized Exchange. We are announcing roughly one coin per day with the hashtag: #coinaday across our social media. This is a recap of the fifth week of coin announcements that are ready for the internet of blockchains.
Below are examples of cross-chain uses and dApps that could be built on the Blocknet protocol. These include general and specific examples for each coin. The Blocknet protocol empowers lightweight dApps to harness contracts and protocols from other blockchains, laying a foundation for the decentralization of the API ecosystem. This is achieved via the groundbreaking technology of the Blocknet XRouter being fully released in July, which you can read more about here.
The coin announcements will continue over the coming weeks as we approach the full production release of Block DX in the summer.
We are always eager to have passionate blockchain enthusiasts spread the word by posting, retweeting, upvoting and sharing each announcement with the respective communities on Reddit and BTCTalk. It only takes a few moments. 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.
Links to share, comment & upvote
Click the links to comment, like and upvote:
Blocknet protocol interoperability example: If you wanted to donate to the forthcoming Bitcoin Green Foundation, you could do so in any currency via a dApp that integrates the Blocknet protocol.
Click the links to comment, like and upvote:
Blocknet protocol interoperability example: You could use any coin to pay for storage or computing power, on the upcoming Colossus Grid, via a dApp that automatically exchanges that coin for COLX. In addition, the reward payments for Grid contributions could be paid out in a currency of the contributors choosing via a dApp built on the Blocknet protocol.
Click the links to comment, like and upvote:
Blocknet protocol interoperability example: If you wanted to contribute to the Einsteinium crowd funding process to support scientific research, you could do so in any currency via a dApp that integrates the Blocknet protocol with Einsteinium’s forthcoming EMC2me research funding platform.
Click the links to comment, like and upvote:
Blocknet protocol interoperability example: Via a dApp, ORE could be used to purchase goods and services from other markets or execute smart contracts across different chains.
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Blocknet protocol interoperability example: Via a dApp built on the Blocknet protocol, you could pay a company or person through any social media site via the SendUI platform that exchanges your chosen payment currency for SEND, so that they can receive payment in SEND from the SendUI.
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Blocknet protocol interoperability example: Via the Blocknet protocol, the forthcoming XSN DX could share its orderbook with Block DX and increase liquidity for both decentralized exchanges.
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Blocknet protocol interoperability example: Can be accepted as payment through a processor that exchanges Unobtanium for the accepted coins by the vendors.
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Blocknet protocol interoperability example: A dApp that accepts micropayments in any currency via Vysnc’s forthcoming smart contracts on their blockchain. Or more simply, using atomic swaps via the Blocknet protocol, any currency could be exchanged for Vsync in a safe and trustless way.
Coming up
- SPV integration is underway. The Blocknet XRouter enables transactions to be verified through our Service Node network that are sent from a multi-wallet or lite wallet. This removes the requirement for a trader to have the synced blockchain of any coins being traded and empowers lightweight dapps to harness contracts and protocols from other blockchains, laying a foundation for the decentralization of the API ecosystem.
- Installation and configuration of Block DX will be streamlined and become more automated. This will make the setup process 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, brought around by volume passing over Block DX and the Blocknet protocol.
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 found here.
- Understanding a Decentralized Exchange
- What is needed to be listed on Block DX
- The Blockchain Router: Architecture for a Decentralized Internet.
- 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
If you have any questions, please contact us on our social media.
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