I've been reading up on the Blocknet, and I'm glad the ITO was successful! However I am having difficulty understanding exactly how I would get paid as a BLOCK token owner (I don't currently own any BLOCK, but it looks like I could still buy some from an exchange even though the ITO is over).
From the article:
https://www.cryptocoinsnews.com/blocknet-works-initial-token-offering-rules/"Once the Blocknet is ready to start paying fees to token-holders, Blocknet tokens may be redeemed for Blocknet assets on the NHZ asset exchange."
^^ I don't really understand this, but I also am not very familiar with NHZ, so please excuse my ignorance.
Does this mean your BLOCK still needs to be exchanged for an NHZ asset (another coin?) for you to get paid for Blocknet fees?
I understand that the Blocknet is not yet a reality, and that in the meantime one can trade BLOCK similar to any other coin. However I am more interested in getting paid for Blocknet services rendered whenever Blocknet is implemented, and I can't seem to find much information on how that works other than the quote above.
Hey hey
Yes, you'll need to redeem your BLOCK for a NHZ asset at the appropriate time in order to earn revenue from Blocknet services.
There will be information on how this will be done once the technology has been developed.
Today there'll be a new OP for this thread and it'll include a timeline so you can get a rough sense for when things will be ready.
Does this mean that our Blocknet token will become then NHZ asset ? or, will we have still Blocknet assets ? Soory, but it is not so clear to me.
Yes, the plan is for NHZ's asset exchange to be the service provider for Blocknet assets.
Thanks synechist as always for the prompt information! I look forward to the new OP with timeline.
Yes, this seems to be different than staking - looking at the NHZ exchange it looks like you can get things like BTSX and PTS, which I also tried to understand and failed (this stuff is complicated!) - but I believe they are something like stock in a company. In the case of Blocknet, I am imagining that these "shares" pay a dividend periodically (which I guess is like staking, come to think of it), but I could be completely wrong.
Yes, Blocknet tokens will be analogous to shares.
The different between them and shares is that the Blocknet is a network (or a DAPP), rather than a company.
Blocknet tokens will, if I'm correct, distribute service provider fees to shareholders relatively directly. This is akin to dividends, but done immediately rather than periodically.
