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Blocknet

Blocknet is a decentralized interoperability protocol enabling the transfer of data and value across different  while remaining trustless[1][2].

Overview


Blocknet is a blockchain interoperability protocol that enables communication, interaction, and exchange between different public and private blockchains, as well as on-chain access to off-chain data, APIs, and services through oracles[9][10].

The Blocknet community has been developing this technology since 2014. Our decentralized governance system and open source code ensures that every blockchain is free to interact without centralized entities[12]

Blocknet Protocol


The Blocknet Protocol is a true Peer-to-peer protocol between nodes on different blockchains. This feature allows the seamless transfer of data and value between blockchains and opens the door to multi-chain architectures[11].

Many components come together to form a single decentralized protocol.

The use of powerful APIs to integrate blockchains into any other blockchain or application.

The Blocknet Protocol is designed to maximize interoperability between different blockchains through the use of these components. Just as the internet enabled computers to communicate, the Blocknet Protocol is critical for blockchains to realize full potential[16][17].

From the perspective of Software as a service (SaaS), the token ecosystem embodies two fundamental advancements:

  • the comparatively frictionless monetisation of digital services, and
  • the leveraging of the unique robustness, decentralization, and security properties of blockchain technology.

From the perspective of blockchain technology, if blockchains are to achieve their true potential, then broad, generic interoperability between blockchain services is required. Without inter-chain interoperability, blockchain-based services will

  • either deliver services only within the confines of the limited customer base that runs its nodes, or sacrifice the unique security properties of blockchains in delivering to centralized entities, and
  • face enduring problems with chain bloat and, relatedly, the market-related pressure to build further features onto a single chain.

By creating an “internet of blockchains,” the Blocknet is positioned to enable the frictionless monetization of APIs, and in doing so, to empower blockchain technology by converting its thousands of isolated chains into a token ecosystem[13][14][15].

Social Media


Blocknet has active accounts on Twitter[3], Reddit[4], Facebook[5], Medium[6], YouTube[7], and GitHub[8].

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Blocknet

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Edited On

August 13, 2022

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