Blocknet scales development effort, pursues Ethereum and Avalanche interoperability
22 April 2021, Boston — the Blocknet accelerates its efforts on two fronts, enabling the most decentralized exchange to trade Ethereum tokens with over 140 different blockchains, and making Avalanche and Ethereum chain data available via decentralized API, empowering dapp developers to easily orchestrate contracts and protocols on different blockchains.
Delivering a decentralized internet
The potential for blockchain technology to disrupt the world’s major digital monopolies is tremendous. However, among blockchain interoperability projects, only the Blocknet is decentralized at the interchain level itself. Other approaches place either a single blockchain’s consensus, or the agreement of a small group of individuals, at its centre, which results in a hub-and-spoke architecture essentially similar to the internet’s current distribution of control. In contrast, the Blocknet relies on the finality reached by interoperating blockchains themselves, and enables users to prove chain state without hosting the chain locally. Thus, instead of creating hubs (centres of control) and spokes, it offers an open, chain-agnostic protocol that does not centralize control.
With the growth of its development team, the Blocknet is accelerating progress toward the decentralization of the internet with an upcoming product suite of dApps, libraries for interchain trading, and Hydra enhancements such as GraphQL support, history per address, and UTXO per address, provable locally and without placing a burden of trust upon users.
With these new capabilities, the Blocknet is empowered to accelerate its progress and to improve code quality, delivering more quickly upon its unique vision for a truly open interchain ecosystem. Strategically important products and tools currently include:
- Completing ETH/ERC20 support for Block DX
- Decentralized GraphQL indexer for Avalanche and Ethereum chain data
- Support for partial orders for Block DX (in final rounds of testing)
- The refactoring of XBridge to run on top of XRouter
- The maturation of XRouter libraries, for use in dapps, browser extensions, etc.
The Blocknet anticipates interchain dapps to be a pivotal part of the decentralized internet. Instead of dapp developers having to choose a blockchain and also attempt the difficult task of coding smart contracts or blockchain protocols, dapp development is poised to become as easy as traditional app development. Instead of having to build every component, traditional developers harness the API ecosystem to quickly and simply integrate features. Similarly, the Blocknet empowers developers to harness the contracts and protocols of effectively every blockchain in existence without having to host any chain locally, and without having to trust third parties’ testimony in the process.
To this end, the following realities are within reach this quarter:
- The aforementioned Avalanche indexer
- XRouter-powered interchain dapps leveraging Ethereum and Avalanche contracts and protocols
- The frictionless orchestration of protocols and contracts
- Client-side XRouter proofs for Go applications
About the Blocknet
The Blocknet is a decentralized network that connects blockchains, similar to how the internet connects computers. Whether it’s through cross-chain dApps or using the protocol as a 2nd layer to index blockchains, the Blocknet provides developers with the capability to create the applications of tomorrow.