Quote from: CryptoXMan on August 04, 2017, 07:49:39 AM

Quote from: lijoe408 on August 04, 2017, 06:53:44 AM

Quote from: CryptoXMan on August 03, 2017, 10:19:54 AM

Quote from: truxton on August 03, 2017, 08:30:32 AM

Quote from: lijoe408 on August 03, 2017, 02:22:18 AM

Quote from: CryptoXMan on August 03, 2017, 01:00:20 AM

Quote from: DiCE1904 on August 03, 2017, 12:29:14 AM

Quote from: CryptoXMan on August 02, 2017, 11:55:34 PM

Quote from: algo123 on August 02, 2017, 10:03:55 PM

What's the utility/purpose of the Blocknet coin within the Blocknet decentralized exchange?

Been looking for documentation on this and haven't found any.

Thanks

1. You can use it to stake for more coins.
2. You use block as fees to pay to the service node for making trades.
3. You can have 5000 block to run a service nodes and earn those fees.

Service node is 5k block?

Yes, for now they set it at 5K. Cheap still.

I would hardly call 55k cheap. The amount of required coins is too much compared to total supply imo. This will greatly limit the amount of servicenodes. It should be 500-1000 imo

The price of a single Block was 10 cents for 2 years. A node was cheap back then. Many many people who purchased during this period have enough block to run nodes.

And the thing is... It's cheap still now because... once this is launched with the user friendly UI being developed by a world class company, $55k will be ultra cheap when you look back when it becomes possibly $550k...

55K is expensive as it is. Very few people entering from this point will commit 50k+ to owning a Node for a coin with a marketcap at this level. The result will be not that many nodes. The Node/Total supply ratio seems unbalanced.

Consider Dash has 20M supply and requires 1K coins to run a masternode. Blocknet has 4M Supply and requires 5K coins to run a masternode. Dash currently has thousands of masternodes running. If you locked up half the supply of Blocknet, it's not enough for even 500 Nodes.

The result of all this will be that the network does not have many nodes. I can't speak to whether this will have any effect on the network, so i'm interested to hear what a dev has to say about this.

So... very few nodes = more profits per nodes.

But also = less decentralised?