Topic: [ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure - page 50. (Read 1103308 times)

yeh yeh we know that u can add more coins, but we're not here waiting for news like ERR added, ZEF added, HGT added, TNTN added, we're waiting for a functional product even if it only supports 2-3 Coins (BTC, BLOCK, LTC...), add support for other Coins can come later. i think...

First order placed for Florin on the Blocknet Decentralized Exchange

Yes a lite version is in the works I am not sure of the release date for that though.

I hope they can get a bit of a move on with this project since I see every man and his dog are trying to start dexs lately.

Do you have plans to do Blocknet more, user-friendly? Is it even possible? I mean an app with no need to download other wallets.

From 2nd lead dev:

The capacity of the Blocknet's decentralised exchange increases with its user base. Since order broadcast and order matching are completely decentralised, there are no bottlenecks other than the ones which lie with users, namely their local internet connections.

In addition though, there is a shared capacity in the broadcasting system, which is really sky-high. Here is a relevant quotation from a Bitcoin wiki (https://en.bitcoin.it/wiki/Scalability#Scalability_targets):

Network Let's assume an average rate of 2000tps, so just VISA. Transactions vary in size from about 0.2 kilobytes to over 1 kilobyte, but it's averaging half a kilobyte today. That means that you need to keep up with around 8 megabits/second of transaction data (2000tps * 512 bytes) / 1024 bytes in a kilobyte / 1024 kilobytes in a megabyte = 0.97 megabytes per second * 8 = 7.8 megabits/second. This sort of bandwidth is already common for even residential connections today, and is certainly at the low end of what colocation providers would expect to provide you with. When blocks are solved, the current protocol will send the transactions again, even if a peer has already seen it at broadcast time. Fixing this to make blocks just list of hashes would resolve the issue and make the bandwidth needed for block broadcast negligable. So whilst this optimization isn't fully implemented today, we do not consider block transmission bandwidth here.

Finally, there is an inherent limitation in the blockchains traders choose to use which affects the time between trading coins and re-trading them, which is the blockchain's confirmation time. Thus, if a trader wishes to trade Bitcoin at a "trustless" (well, widely regarded as non-risky) level of security, (s)he should wait an hour before re-trading an address. However, I have proposed a solution to this, in the form of a "0-conf slider" in the UI, which functions to filter orders according to the number of confirnations that the user is willing to wait for. Thus, at a small increase of risk, scalping and other fast trading strategies may be employed.

I think that suitably addresses concerns. The Blocknet is fast.

amazing!

No discord but you can join rocket chat: https://rocket.blocknet.co:8443/home

Is there an official Discord channel?

First order placed for PURA on the Blocknet Decentralized Exchange

No - you will receive node rewards with or without running wallets, however you will not collect any trading fees.

If I have node do I also need to run all the wallets of the coins on the exchange to recive fees?

Nodes require 5000 coins to setup and get a percentage of the network fees whereas staking can be done with any amount of coins simply by keeping them in your wallet to earn Proof-of-Stake rewards

all we need is a little bit of marketing.....

What's the difference between nodes and stakers?

You can join the BLOCKNET channel here:  https://rocket.blocknet.co:8443/home

Yeah, I think you are right - exchange fees should get distributed to nodes. But for the time being, normal staking is more profitable, unless there is some mechanism to balance it out.

It just stuck out as not ideal because I was under the impression that nodes should always have at par or higher ROI over stakers (but not too much higher) since they have to lock up 5000 BLOCK (~$110k now, which is not a small amount). Perhaps the Blocknet team can address this issue?

Thank you. Yes, I saw the pics. Looking great.
Where to register ?
I don't see any link on the website.

Is it not a case of the nodes will get far more from fees once it goes live?

According to the ROI spreadsheet: https://docs.google.com/spreadsheets/d/1Y8uRsftL_uUcDPPiRvDDxJwI2ftLZq1iPavKaGfrF_c/edit#gid=0 it seems the network is currently oversaturated with service nodes, being only 79% profitable (!) compared to just staking 5000 coins. Theoretically, market efficiency means that people will start staking more instead of setting up new nodes and/or switchover nodes to staking, so that nodes become as or more profitable as staking. But I guess it takes some time to happen.

Is there a plan for implementing some automatic mechanism to help rebalance this or guarantee nodes to get a higher profitability than normal staking?

The exchange is already functional. UI for desktops and smartphones is coming soon. See the screenshots here:

https://medium.com/@theblocknetchannel/blocknet-decentralized-exchange-high-quality-images-a68d8fbd2b81