Topic: [ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure - page 142. (Read 1103312 times)
April 16, 2017, 03:53:35 AM
New all time high a few hours ago. Just under $1 now and still going up nice and calm.
April 16, 2017, 03:27:35 AM
I think that any coin that activates Segwit and the Lightning Network may also be a competitor to this project.
One of the benefits of the Lighning Network:
"Securely cross blockchains: payments can be routed across more than one blockchain (including altcoins and sidechains) as long as all the chains support the same hash function to use for the hash lock, as well as the ability the ability to create time locks."
It's not impossible that a lightning network may support a competitor, but (a) I doubt it, and (b) even if so, then not for some time. Here's why I think this:
Lightning networks are vulnerable to collusion attacks. (Thanks to Dave Zimbeck for noting this.)
Quote
Lightning network does 2 of 2 accounts. Then it creates Pune Dryja channels in an asymetric way to make a HTLC to connect two unrelated 2 of 2 accounts.
So if Bob and Alice are in the 2 of 2
Alice is also in a 2 of 2 with Steve
If Steve owes money to Bob he create a HTLC with him so Bob may withdraw at any time. But if Alice is actually Steven she holds both keys and can withdraw effectively defaulting
If Alice is the one routing all payments owed to Bob it works fine. But Alice needs the physical funds in her account.
So using her as the intermediary between the two... it routes payments like such: Steve owes Bob he routes HTLC to Alice who routes it to Bob
If Alice doesn't have the phyiscal funds in the 2 of 2 it won't work.
Therefore the proper architecture of a Lightning network is for EVERYONE to hold money with an extremely rich Bitcoin holder like a bank or winklevoss twins. Because they are the ones who can successfully route all of those payments P2P without clearing them
From https://www.reddit.com/user/dzimbeckSo if Bob and Alice are in the 2 of 2
Alice is also in a 2 of 2 with Steve
If Steve owes money to Bob he create a HTLC with him so Bob may withdraw at any time. But if Alice is actually Steven she holds both keys and can withdraw effectively defaulting
If Alice is the one routing all payments owed to Bob it works fine. But Alice needs the physical funds in her account.
So using her as the intermediary between the two... it routes payments like such: Steve owes Bob he routes HTLC to Alice who routes it to Bob
If Alice doesn't have the phyiscal funds in the 2 of 2 it won't work.
Therefore the proper architecture of a Lightning network is for EVERYONE to hold money with an extremely rich Bitcoin holder like a bank or winklevoss twins. Because they are the ones who can successfully route all of those payments P2P without clearing them
So, currently, the only workable decentralised exchange solution is the use of atomic swaps that exploit OP_CHECKLOCKTIMEVERIFY, plus other techniques for decentralising order broadcast and order matching.
Just dropped by the thread to say "hi" and and noticed the reference. Thanks
Yeah the lightning network has some pretty serious security holes to work through before going mainstream or it becomes nothing more than a glorified multisig exchange.
Not to say that off-chain transactions aren't cool, but the only way to solve the problem is to have everyone get accounts with the ultra-wealthy.
Perhaps still a lot of transactions would have to be cleared and also, there is the problem that you need your computer to be running to broadcast transactions that clear before the locks expire (there is some game theory involved because so many transactions get replaced).
Lightning networks might work a little better with a frozen asset class where users would hold more funds which in theory which can be used as collateral when routing IOUS but I definitely do not see Bitcoin doing something like that. And it would still require accounts with wealthy holders.
Also wouldn't a lightning network require a lightning network in EACH coin? Since they are technically doing exchange as micropayment channels, correct me if I'm wrong but all of the coins would need their own network. So I can't imagine how anything like that could be engineered. Also the amount of signatures for the micropayment trade would actually be a bit processor intense because they would have to keep discarding old transactions.
I honestly think the way Blocknet is doing it is the only way to truly do decentralized exchange. And I'm very happy they are going to deliver on this. Shocking nobody else was working on it after all these years.
Kudos!
April 16, 2017, 03:05:44 AM
I think that any coin that activates Segwit and the Lightning Network may also be a competitor to this project.
One of the benefits of the Lighning Network:
"Securely cross blockchains: payments can be routed across more than one blockchain (including altcoins and sidechains) as long as all the chains support the same hash function to use for the hash lock, as well as the ability the ability to create time locks."
It's not impossible that a lightning network may support a competitor, but (a) I doubt it, and (b) even if so, then not for some time. Here's why I think this:
Lightning networks are vulnerable to collusion attacks. (Thanks to Dave Zimbeck for noting this.)
Quote
Lightning network does 2 of 2 accounts. Then it creates Pune Dryja channels in an asymetric way to make a HTLC to connect two unrelated 2 of 2 accounts.
So if Bob and Alice are in the 2 of 2
Alice is also in a 2 of 2 with Steve
If Steve owes money to Bob he create a HTLC with him so Bob may withdraw at any time. But if Alice is actually Steven she holds both keys and can withdraw effectively defaulting
If Alice is the one routing all payments owed to Bob it works fine. But Alice needs the physical funds in her account.
So using her as the intermediary between the two... it routes payments like such: Steve owes Bob he routes HTLC to Alice who routes it to Bob
If Alice doesn't have the phyiscal funds in the 2 of 2 it won't work.
Therefore the proper architecture of a Lightning network is for EVERYONE to hold money with an extremely rich Bitcoin holder like a bank or winklevoss twins. Because they are the ones who can successfully route all of those payments P2P without clearing them
From https://www.reddit.com/user/dzimbeckSo if Bob and Alice are in the 2 of 2
Alice is also in a 2 of 2 with Steve
If Steve owes money to Bob he create a HTLC with him so Bob may withdraw at any time. But if Alice is actually Steven she holds both keys and can withdraw effectively defaulting
If Alice is the one routing all payments owed to Bob it works fine. But Alice needs the physical funds in her account.
So using her as the intermediary between the two... it routes payments like such: Steve owes Bob he routes HTLC to Alice who routes it to Bob
If Alice doesn't have the phyiscal funds in the 2 of 2 it won't work.
Therefore the proper architecture of a Lightning network is for EVERYONE to hold money with an extremely rich Bitcoin holder like a bank or winklevoss twins. Because they are the ones who can successfully route all of those payments P2P without clearing them
So, currently, the only workable decentralised exchange solution is the use of atomic swaps that exploit OP_CHECKLOCKTIMEVERIFY, plus other techniques for decentralising order broadcast and order matching.
April 15, 2017, 10:04:08 PM
Are there some experts in the room 
?
maybe someone can explain the differences between ark en blocknet also ?
just bought my first blocks
hoping the price would still dip a little so I can buy some more since its on ath now.
?maybe someone can explain the differences between ark en blocknet also ?
just bought my first blocks
hoping the price would still dip a little so I can buy some more since its on ath now. April 15, 2017, 09:30:39 PM
What would be the difference in blocknets cross chain p2p tech compared to the lightning network?
For that question, I will defer to the experts. 😂
April 15, 2017, 08:49:41 PM
Yeah I think you're right. Would it not be even cheaper and faster to do so? The only thing is that I think most coins will not be compatible with lightning network since there clones of btc/ltc and have similar issues that needed to be fixed with segwit. What would be the difference in blocknets cross chain p2p tech compared to the lightning network?
April 15, 2017, 05:47:06 PM
This is gonna have a huge marketcap, mark my words.
Agreed with you this gonna be a huge thing in crypto market. This is totally new tech at the moment there is no competitor in the market so this will be next big thing on this universe.
Sorry for being a bit lazy and asking this but you say there are no competitors in the market but what about ark and waves? I read here about the cross chain p2p but I believe ark got this from blocknet right? so whats the difference between them? Ark is getting a lot more interest so why if blocknet was here first is ark walking away with the attention? I also read about decentralized exchange with the hardfork is that comparable with waves platform?
The op is updated since end 2014? why?
Looks like an interessting entry point I read a lot of enthusiasm but still have to inform myself a bit more
I think that any coin that activates Segwit and the Lightning Network may also be a competitor to this project.
One of the benefits of the Lighning Network:
"Securely cross blockchains: payments can be routed across more than one blockchain (including altcoins and sidechains) as long as all the chains support the same hash function to use for the hash lock, as well as the ability the ability to create time locks."
April 15, 2017, 04:04:00 PM
Equal to all time high right now. This is because all the testing I think.
Oh really, that's awesome. And how is going your adventure with VLC capture video from that tests? Any progress?
April 15, 2017, 03:52:40 PM
Equal to all time high right now. This is because all the testing I think.
April 15, 2017, 01:32:22 PM
This is gonna have a huge marketcap, mark my words.
Agreed with you this gonna be a huge thing in crypto market. This is totally new tech at the moment there is no competitor in the market so this will be next big thing on this universe.
Sorry for being a bit lazy and asking this but you say there are no competitors in the market but what about ark and waves? I read here about the cross chain p2p but I believe ark got this from blocknet right? so whats the difference between them? Ark is getting a lot more interest so why if blocknet was here first is ark walking away with the attention? I also read about decentralized exchange with the hardfork is that comparable with waves platform?
The op is not updated since end 2014? why?
Looks like an interessting entry point I read a lot of enthusiasm but still have to inform myself a bit more
April 15, 2017, 01:21:20 PM
I also think that historic moment has been reached now Block gonna deliver that truly decentralized exchange. Feedback of people making me satisfied very soon this will be among top 5 coins on marketcap. It's only based on our believe in any coin so I will keep my faith in it and moving forward with them.
April 15, 2017, 01:15:00 PM
Just hot $0.70. $0.05 cent off ATH.
April 15, 2017, 01:14:09 PM
Block is still under the radar and development has entered in final phases. Once the date for hard fork is announced there will be just uptrend in market. Block will be among top 10 markets in no time as market is reacting very fast now when things are out.
What are u talking about? Development? It's non-present, don't u think so? how can it enter into a phase. Two years have passed, what now? Nothing. Arc borrowed its concept and vision of bridged chains from blocknets whitepaper and is moving upwards non-stop while being a dummy coin. Whereas blocknet scam remain lethargic.
You don`t know what you are talking about! The BLOCK tech is ready and is currently public tested.
Why don't you educate yourself before mouthing off bullshit that is wrong and out of date on here. Until then, please don't come back. Why not TRY THE DX YOURSELF!
April 15, 2017, 11:16:40 AM
Block is still under the radar and development has entered in final phases. Once the date for hard fork is announced there will be just uptrend in market. Block will be among top 10 markets in no time as market is reacting very fast now when things are out.
What are u talking about? Development? It's non-present, don't u think so? how can it enter into a phase. Two years have passed, what now? Nothing. Arc borrowed its concept and vision of bridged chains from blocknets whitepaper and is moving upwards non-stop while being a dummy coin. Whereas blocknet scam remain lethargic.
You don`t know what you are talking about! The BLOCK tech is ready and is currently public tested.
April 15, 2017, 10:30:57 AM
Block is still under the radar and development has entered in final phases. Once the date for hard fork is announced there will be just uptrend in market. Block will be among top 10 markets in no time as market is reacting very fast now when things are out.
What are u talking about? Development? It's non-present, don't u think so? how can it enter into a phase. Two years have passed, what now? Nothing. Arc borrowed its concept and vision of bridged chains from blocknets whitepaper and is moving upwards non-stop while being a dummy coin. Whereas blocknet scam remain lethargic.
April 15, 2017, 09:25:31 AM
So I was once a big holder and believer in XC. Because of certain things I won't mention I lost a lot of trust in Dan. I see that development is getting real so I picked up some Blocknet. I would like to give Dan another chance. Where is the slack invite?
Interoperability is the new hot thing. The one problem this project has is all the irrelevant coins. You guys need to add some high profile coins or this just won't fly. Don't isolate yourselves. Stop working with low level developers that many of these coins have. There are some really big and talented dev teams working on the same thing. Work with other similar projects like Cosmos or ARK.
Interoperability is the new hot thing. The one problem this project has is all the irrelevant coins. You guys need to add some high profile coins or this just won't fly. Don't isolate yourselves. Stop working with low level developers that many of these coins have. There are some really big and talented dev teams working on the same thing. Work with other similar projects like Cosmos or ARK.
April 15, 2017, 05:07:20 AM
This looks like an awesome project.
I want to wish the team all the best and I am planning to
buy more BLOCK
I want to wish the team all the best and I am planning to
buy more BLOCK
You are planning to get rich very quickly I saw some great news on slack so big community there. I also have some into my wallet and ready to run a node to make good profit through fees.
April 15, 2017, 05:00:46 AM
This looks like an awesome project.
I want to wish the team all the best and I am planning to
buy more BLOCK
I want to wish the team all the best and I am planning to
buy more BLOCK
April 15, 2017, 03:47:42 AM
Block is still under the radar and development has entered in final phases. Once the date for hard fork is announced there will be just uptrend in market. Block will be among top 10 markets in no time as market is reacting very fast now when things are out.
April 15, 2017, 02:55:14 AM
Price is hovering just below ATH. Once Easter is done, hopefully it will break it.
Jump to: