AMA RECAP: Blockx AMA Session on P2PB2B Telegram Community (25/1/2022)
Blockx recently had an Ask Me Anything (AMA) session on the P2PB2B cryptocurrency exchange Telegram channel.
Manindra, the Founder and CEO of BlockX, was present at the session and provided answers to all of the questions raised during the AMA.
Here’s a rundown of the main points of the AMA session.
Q: Before you answer my question can you introduce yourself first? Which area are you focusing on at the moment? And what is your goal this year?
A: At first, Manindra was asked to introduce himself and the focus of the BlockX project. Following his personal introduction, he proceeded to state the focus of the BlockX project. According to him, “We are focusing on DeFi, Metaverse, and NFTs. Staking and yield farming are some of the major functions of our tokens. Also, decentralized applications of various kinds can be built on the Blockx network.
Q: What are the competitive advantages of your project? What advantages do you have over competitors? What would be your project’s contenders
A: The competitive advantages of BlockX include digital identity, multi-chain settlement, and off-chain data link. BlockX competes with Avalanche and Solana, and other Ethereum alternative chains. BlockX brings in a completely new set of features which will be key in bringing to market completely new types of projects.
Q: It’s easy to make a token but it’s really hard to make this token valuable, so what’s your strategy to make your token more valuable, and what’s your plan to maintain token price and supply?
A: On how to improve and maintain the value of the BCX token, Manindra exhumes that BlockX is already working with market makers to create multiple exchange listings which in turn increase accessibility. Also, BlockX is creating attractive staking terms among other strategies for the BCX price stability. As the usage of the token grows, Manindra is confident that the value of the token, which is also the gas fees of the chain, should become more valuable. Token sold during private sale also have a two-year vesting period for team members, and six months for users.
Q: Have you been audited? I’ve not heard you talk about the security of funds as it is what every investor craves for and plans to escape in case of insecurity, scam, and rug pull. How strongly built are your security put in place?
A: Manindra explained how the internal software audit team continue to work in-house to ensure a smooth and clean code base, pending the time the project moves to the mainnet when external auditors will be invited to check the codebase.
Q: Currently NFT is a hot topic, but are NFT not just for art? Does your project think that more real-world use cases will emerge for NFTs as time goes on? Why should we take NFTs seriously?
A: NFTs basically represent unique digital assets or collectibles. This means that Art is a common first use case. But there are several other uses. For example, one of the projects BlockX is working with is using NFTs to represent Courses. Another real estate developer is using NFTs to represent apartment units. Hence NFTs will have several diverse useful applications on the network. In addition, BlockX also intends to build an NFT issuance and marketplace on the blockchain. These use cases will also directly enrich users.
Q: Do you have any plans to attract non-crypto investors to join your project?
A: Manindra also explained BlockX’s immediate goals which include working with non-crypto projects such as banks and other financial institutions as well as real estate companies. In his words:
Q: Do you have any plans to attract non-crypto investors to join your project? Because the success of the project attracts more investors who haven’t yet entered the crypto world. What are the plans to raise awareness about your project in the non-crypto space?
A: Our key goal has been to make it easy for multi-chain applications to be built and to enable traditional businesses to transition to web3/blockchain. They are the key principles in the design of our chain”. Traditional investors can easily sign up on our website to get involved in the project.
Q: I am an experienced developer and ethical hacker, does your project have plans for HACKATHON so as to check the security of your ecosystem periodically and also invite developers to build
A: There is the plan for a Hackathon and grant program for enhanced ecosystem security and the intention of building locally-managed communities across several regions.
Q: What is the most ambitious goal of your project? Could share with us any upcoming updates?
A: The overall ambition of BlockX is to be the Network of networks of the Blockchain era. One that brings in Chartered Banks and Financial Institutions into Blockchain with a well-engineered institutional setup. The overall goal is to become an enterprise-grade inter-bank settlement on the blockchain.
Q: What are your key priorities for 2022?
A: On the project’s key priorities for 2022, it was stated that; the Launching of the incentivized testnet; the listing of the BCX token come March; and the launching of the mainnet in the third quarter of 2022, are the foremost priorities at the moment.
Q: When will your tokens be listed on the exchange and which exchange do you plan to list in the future?
A: March 2022 is the expected period for public launch, though anyone could purchase $BCX on the P2PB2B exchange at the moment.
About BlockX Network
Block X is an Ethereum alternative Layer 1 new protocol blockchain purpose-built for DeFi, Metaverse, and NFTs. BlockX is built on delegated proof of stake consensus and enables instant transactions for transfers and applications.
Key features of BlockX include
Multi Chain settlement — BlockX enables issuance and settlement of tokens across various multiple chains including Cosmos SDK based chains, BTC, Ethereum, Polygon, Cardano, Avalanche, Solana, etc
Digital Identity — BlockX native supports both centralized identities as well as SSI (Self — sovereign identity) to enable real-world applications such as Bank and Asset Managers to transition to blockchain
Advanced Oracle for off-chain data — Most apps required some off-chain data or API calls to be complete. BlockX combines advanced API management natively to enable seamless cooperation for certain apps and their users
Roadmap
The Incentivized test network will be launched in Q2 2022 and Mainnet in Q3 2022. Staking and Trading is expected to start in Q1 2022 as well. Initially staking and trading will be available on tokens on other chains which will be swappable to mainnet tokens 1:1 once it is available for public use.
BCX is the native token of BlockX.
BCX is used for gas fees, staking rewards, and payments on various apps.
Website: https://www.blockxnet.com/
Facebook: https://www.facebook.com/blockxnet
Twitter: https://twitter.com/BlockXnet
Telegram: https://t.me/blockxnetwork
Youtube: https://www.youtube.com/channel/UC3nTqoe7ZKPoM02HgAkrR5w
Discord: https://discord.gg/b4GZURPMYw
Reddit: https://www.reddit.com/r/BlockX/
LinkedIn:https://www.linkedin.com/company/blockxnetwork/
Medium: https://medium.com/blockxnet
