Word on the BLOCK: 15th June

Hello everybody, and welcome to the latest Blocknet newsletter update of 2018! This newsletter is released twice per month to keep the community up to date on what is happening with Blocknet. You can view the previous newsletters here.

  • Blocknet API’s have now been published! Blocknet provides a simple and powerful API to build previously impossible multi-chain applications that are able to consume services on compatible blockchains, all while remaining 100% trustless and decentralized. Developers can now get building, too! In addition, SPV APIs are coming in July! You can read more here.
  • We are very proud to announce that Blocknet was whitelisted to be a part of Blockfolio’s Signal beta release. There are a significant number of coins on the signal waiting list, but after they took a look at our social media and website, they wanted us to be on board immediately. Blockfolio is the #1 free crypto portfolio management app with support for 3000+ cryptocurrencies. You can read more about it here.
  • Blocknet Coordinator Hanni was interviewed on the Crypto Love YouTube Channel that has over 87k subscribers. Check it out here.
  • Blocknet recently announced a Social Media Team initiative. This will allow Blocknet to have teams around the world operating official Blocknet profiles in various time zones, languages and regions. If you are passionate about Blocknet and want to put that passion into action, you can read more details here.
  • Bob (@808) is now a full time member of the marketing team. His primary responsibility is Creative Lead. We are excited to take on larger projects with a full time designer.
  • Baron (@redbaron) is now a full time member as Project Co-Coordinator.
  • Several new channels have been created in the Blocknet Discord:
  1. Community > Discussions
  2. Service Nodes > Configuration Updates
  3. Projects > Litewallet-Multiwallet
  4. Projects > Mobile-app
  5. Projects > Translations
  • Blocknet API’s have now been published! Blocknet provides a simple and powerful API to build previously impossible multi-chain applications that consume services on compatible blockchains, all while remaining 100% trustless and decentralized. Developers can now get building too! In addition, SPV APIs are coming in July! You can read more here.
  • Recently a community vote took place to gauge interests in potential Blocknet roadmap items. This poll is now closed and with the results as follows:

XRouter Plugin Capability — 105 votes (22.34 %)

Direct Trading — 94 votes (20 %)

Trade History — 74 votes (15.74 %)

Block DX Price Conversions — 41 votes (8.72 %)

Lightning Integration(or alternative) — 35 votes (7.45 %)

Exchange/XRouter Fee System — 35 votes (7.45 %)

Service Node Environment — 32 votes (6.81 %)

Mobile Wallet — 32 votes (6.81 %)

Private Orderbook — 9 votes (1.91 %)

XChat — 7 votes (1.49 %)

In-Wallet Service Node Chat — 6 votes (1.28 %)

  • Get ready for the new wallet redesign release on June 29th!
  • Bob (@808) is now a full time member of the marketing team. His primary responsibility is Creative Lead. We are excited to take on larger projects with a full time designer. Community members have also been stepping up to participate in Blocknet’s marketing tasks, and the marketing team as a whole is growing.
  • Members of the Blocknet team will be attending the following events:
  1. Amsterdam Blockchain Expo on 27th — 28th June.
  2. San Jose, California Blockchain Expo on 28th — 29th November.
  3. Community member and Blocknet strategic advisor Dungor, will attend the Malta Blockchain Summit on the 1st — 2nd November.
  • Other events are being explored and planned.
  • Blocknet Coordinator Hanni was interviewed on the Crypto Love YouTube Channel that has over 87k subscribers. Check it out here.
  • Dan Metcalf will be interviewed by Youtuber CrytoLark (76k subscribers) on Monday the 18th. Release date is still TBA.
  • 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. The most recent recap of coin announcements that are ready for the internet of blockchains can be found here. We are continuing to build relationships with these coins, and are excited about working together more in the future.
  • Digibyte talked about Blocknet being one of the most significant developments to their project in June. Click here to see their Reddit post.
  • Syscoin mentioned how excited they are about the potential of what Blocknet can offer to their project. The video can be seen here.
  • Blocknet was considered to be in the top 5% of masternode blockchains according to an independent study by Omni Analytics Group. The study created a dataset to compare masternode blockchains by working governance, whitepaper, and website. The graph can be seen here.
  • Banner ads will begin on Coingeko.com and Masternode.pro in July.
  • XRouter, XBridge, and XChat branding has been completed. You can view each of the official logos here or via the “Press Info” button on the footer of the website.
  • The Blocknet XRouter press release was featured on CCN.com.
  • More paid articles are underway.
  • As mentioned above, Blocknet API’s have now been published and can be viewed here.
  • The Blocknet website has a “Press Info” button in the footer leading to Blocknet branding materials.
  • A new wave of website features are underway. One of the first developments will be Coin Portals, giving each Coin a place to represent themselves on the Blocknet website.
  • Blocknet recently announced a Social Media Team initiative. This will allow Blocknet to have teams around the world operating official Blocknet profiles in various time zones, languages and regions. If you are passionate about Blocknet and want to put that passion into action, you can read more details here.
  • We are very proud to announce that Blocknet was recently whitelisted to be a part of Blockfolio’s Signal beta release. There are a significant number of coins on the signal waiting list, but after they took a look at our social media and website, they wanted us to be on board immediately. Blockfolio is the #1 Free Crypto Portfolio Management app with support for 3000+ cryptocurrencies. You can read more about this here.
  • Blocknet has continued to receive coverage on a variety of websites including Investors Hub, Coinatory, Bitcoin Global News, Statrader and CCN. It has also been covered on the Crypto Salad and Lo Key Money YouTube channels.
  • Social media and websites: Website / Protocol Website / Discord / Twitter / Medium / Telegram / Reddit / Steemit / Newsletter / Facebook / YouTube / DTube / Instagram / Minds / BitcoinTalk / Proposal Forum
  • Member redactedman is working on a Blocknet comparison infographic that compares how Block DX measures up to other exchanges.
  • Member Scott Wehman will be creating a Blocknet podcast focusing on increasing awareness of Blocknet’s progress through interviews, updates and other relevant reports.
  • Member piepie is creating a multiwallet that incorporates SPV via XRouter. We are excited to see third parties building tools on the Blocknet protocol!
  • Member jimwal created a new explorer and Service Node resource, which can be viewed here. This is now listed as ‘Explorer 2’ on CoinMarketCap.
  • Member Dungor is working on a comprehensive governance document to be submitted as a proposal. The document details specifics regarding community funds, official roles, contributor tiers, legal framework, partnerships and more. This document should be available before the next Superblock.
  • For Superblock 432000, there were a total of 4 proposals submitted to the network for voting, all of which passed.
  • There are currently 2 open proposals to adjust the Superblock fee. The rationale behind these are that as the price of Block has risen, Superblock fees have become too high. Since changing the fee amount will erase existing proposals, this proposal was submitted for voting on the 8th of June. The voting will remain open until block 451500 ( around 10PM UTC+0 June 20). In order for one of the fee-reduction proposals to pass, votes in favor must be greater than votes against by at least 10% of the total number of Service Nodes. If both pass, the new proposal fee amount will be that of the proposal with the greater sum of yes votes minus no votes. If both pass, only a total of 100 BLOCK (not 200 BLOCK) will be expensed from the ecosystem fund to pay for the proposal submission fees. More detail can be seen here.
  • There has been a great deal of discussion about the Superblock proposals within the community recently and the mechanisms required for a proposal to pass. The core team have examined the code and arrived at the following summary:
  1. The amount requested must be 4320 BLOCK or less — Votes in favor must be greater than votes against by at least 10% of the total number of Service Nodes.
  2. The proposals that pass are sorted in a descending order list by the sum of yes votes minus no votes. If multiple proposals have an equal sum of yes votes minus no votes, those are sorted randomly. If there are not enough funds remaining in the Superblock for a proposal to be paid out, it is skipped (not paid out), and the next proposal in the list is checked.
  3. Multi-month proposals are voted on each month and are treated in the same manner as normal proposals in the ordered list.
  4. There is also something called a ‘final budget,’ which needs to be submitted between 2880 blocks and 28 blocks before the Superblock. By default, Service Nodes automatically vote yes on final budgets. Moving forward, proposal voting will end 2880 blocks before the Superblock since the final budget locks in the proposal vote counts.
  • There is a great responsibility for Service Node owners to vote either “yes,” or “no,” on the proposals. It cannot be emphasised enough how much the community, as well as the Blocknet team, relies on Service Nodes to vote on project proposals to ensure continued funding for development of the Blocknet. Not voting could greatly threaten the project.
  • There is an emailing list for Superblock notifications separate to the Word on the BLOCK newsletter email and is directed toward Service Node operators to provide reminders leading up to the voting deadline. To subscribe to these notifications, you can sign up here.
  • Voting will become a great deal easier and much more user-friendly in the new wallet, taking just a few clicks. You can view the designs for the voting functionality here.
  • An introduction to Superblocks and a guide to voting can be found here.
  • So far 309 coins have been addressed (21 additions since last newsletter.) 95 are currently finalized of which 47 are unannounced, (7 additions since last newsletter.) The 48 announced are:
  • ALQOcoin (ALQO) | Bitcoin (BTC) | BitcoinGreen (BITG) | Blocknet (BLOCK) | Bulwark (BWK) | ColossusXT (COLX) | Crown (CRW) | Dash (DASH) | DigiByte (DGB) | Diamond (DMD) | Dogecoin (DOGE) | Dynamic (DYN) | Einsteinium (EMC2) | Faircoin (FAIR) | Florincoin (FLO) | Galactrum (ORE) | GoByte (BGX) | HTMLcoin (HTML) | Hexx (HXX) | Innova (INN) | InternetOfPeople (IoP) | Kalkulus (KLKS) | LBRY Credits (LBC) | Litecoin (LTC) | Minexcoin (MINEX) | Monacoin (MONA) | MonetaryUnit (MUE) | Namecoin (NMC) | Phore (PHR) | PIVX (PIVX) | Pura (PURA) | Qbic (QBIC) | Qtum (QTUM) | SocialSend (SEND) | StakeNet (XSN) | SysCoin (SYS) | TerraCoin (TRC) | Unbreakable Coin (UNB) | Unobtanium (UNO) | Vertcoin (VTC) | Viacoin (VIA) | Vitae (VIT) | (Vivo (VIVO) | Vsync (VSX) | Wagerr (WGR) | XCurrency (XC) | ZCoin (XZC) | Zoin (ZOI)
  • A constantly updated list of compatible coins can be found here and the most recently announced coins can be found here.
  • 134 coins are in progress for error resolution + finalization.
  • 238 different coins have had orders placed on the DEX. (31 additions since last newsletter.)
  • The price of BLOCK is currently at $17.41 (0.00248112 BTC) at time of writing.
  • Circulation: 5,188,028
  • Market Cap + Ranking: $80.76M USD | 12,872 BTC | Rank 110
  • Exchanges — BLOCK is listed on the following exchanges:
  1. The Block DX (obviously!)
  2. Bittrex
  3. CryptoBridge
  4. UPbit
  5. CoinSwitch
  6. Cryptopia
  • Current wallet: v3.9.22
  • Block height: 440843
  • 430 Service Nodes are currently active.
  • 1,158,267 staked coins are currently active.
  • The APR 7-day average for Service Nodes is currently at 16.76% and for staking it is currently 12.72%.
  • Lockup percentage from Service Nodes: 43.84%
  • Blocknet stats can be viewed on Master Nodes Pro here, on Masternodes Directory here and on Block Core here.

Many thanks for reading. We hope that you are as excited as we are for the future of Blocknet. A decentralized project fundamentally requires an engaged community, and so if you would like to help with anything, have something to add, use your professional skills or have a problem… we want to know about it.

Please also be aware that a community project is run by a diverse group of people with varying time-constraints (in a number of time zones) and personal lives, so remember to be kind and patient!

If you want to be the first see these updates, you can receive the newsletters directly to your email by subscribing here. Our next update is due on June 30th. Until then we look forward to hearing from you!

Sincerely,

The Blocknet Team.