Quote from: battbot on March 06, 2015, 11:36:40 AM

Quote from: paycum on March 06, 2015, 02:55:57 AM

Hi, New here, kind of interesting although hard to understand what it does exactly lol. Will do some more reading tomorrow but deffinately looks very interesting to me. Too bad price is at its alltime high..

And what do i buy when i buy block? Are that tokens or are that coins and how many are there in total? Or maybe i just have to do some more reading before asking questions hehe

Welcome!

The Blocknet is the first-ever decentralized platform-as-a-service. Recognizing that there will never only be "one blockchain to rule them all" (as humanities data needs are too great), the Blocknet serves as an opensource, decentralized, inter-operable framework for all blockchains. This will allow communication between blockchains (including bitcoins) and their services (ie - encrypted messaging, anon, instant transfers, etc.) through a chain-agnostic p2p network.

The potential for Blocknet and related applications & services are quite literally, limitless. And in my opinion, Blocknet's tech is the most revolutionary & disruptive tech since the blockchain itself.

The price is not necessarily at its "all-time high." It is at or below ITO levels (25k sat), and only a very small amount of coins have been bought and sold below the ITO price (think of it this way: if you buy below the ITO price of 25k sats, you are getting in at a discount compared to the vast majority who bought during the ITO). When you buy BLOCK, you are buying a token, which temporarily functions identically to any other coin. However, at a date in the near future, they will be redeemable for HZ assets (shares). At that point, every xbridge operation will return microfees to the Blocknet, which will then distributed between the Blocknet's shareholders. Similarly, every xbridge operation will return microfees to any individual whose node delivers a service.

Interestingly, Andreas Antonopoulos (speaking at MIT), recently said:

"Bitcoin may end up being the gold-reserve currency digital gold reserving value for other currencies, hundreds of other currencies. As long as you have a two-way exchange between the value, you can very seamlessly move from one to the other I expect we will see a world where bitcoin provides a core fungible currency value layer on top of which youll have protocol layers that deliver micro payments, fast transaction processing, anonymity and all kinds of other programmatic guarantees depending on the niche application. Which is why there will not be one currency to rule them all, because there is no one application for everyone." (Reference: http://youtu.be/J8y_GypCWf4?t=28m2s)

The Blocknet is the paramount solution that realizes the interconnected & interdependent world of cryptocurrencies in which Andreas envisions.

Thanks for the great explanation. I just bought myself a few coins/tokens Grin