Topic: Blocknet: An Undervalued Project and Cryptocurrency (Read 70 times)

Often described as the "Internet of Blockchains", the Blocknet is an infrastructure for the upcoming "inter-blockchain era". The Blocknet is a decentralized exchange platform that enables decentralized communication and exchanges between and among different blockchain titles supported by the blockchain within a permissionless and trustless manner, utilizing the TCP/IP networking layer for communication, peer-to-peer atomic swaps using BIP65 for exchange, and Distributed Hash Table (DHT) overlay network in order to host nodes of compatible blockchains and other interactions within the platform. It was designed with the vision to provide interoperability towards inter-blockchain infrastructure, decentralization, and security towards monetary transactions.

Blocknet is also known as one of the first movers on DEX developments. Blocknet's Block DEX/DX acts as the first true decentralized exchange application that supports thousands of blockchain trading pairs. Together with its XRouter and XBridge layers, a connection of dApss and blockchains became possible within the network. The XRouter was established to allow dApps to consume services and verify data on any blockchain, while the XBridge answers to the need for an exchange layer that connects blockchain assets through cross-chain atomic swaps.

Despite offering its extensive decentralized exchange platform and blockchain interoperability backed by practical and efficient use cases, the Blocknet is still called by many an undervalued project and cryptocurrency. Its native coin BLOCK is ranking at #650 according to CoinMarketCap cryptocurrency ranking. BLOCK has reached its all-time high price of fifty-two US dollars in the first quarter of 2018. The coin's value gradually decreased and to this day, its price is around five US dollars.

Why such an exceptional decentralized open-source platform became undervalued. We must first consider the way people, especially crypto enthusiasts, engage in a certain blockchain or cryptocurrency. Many investors tend to secure their funds on old and long-running crypto platforms such as Bitcoin, Ethereum, and Litecoin, among others, due to the invisible trust and certainty that these crypto titles are, rest assured, won't get trashed away from the digital market.

It also worth mentioning that to be consistently marketed, cryptocurrencies must be supported with regular updates and innovative projects that will promote their cause efficiently and catch the interest of present and future investors. A lively team dedicated to providing regular updates within the most known social media platforms would also be a huge help in cascading the platform's popularity.

Furthermore, BLOCK being in the alternative coin market is also a factor that makes it undervalued. Alternative coins are those who suffered such damage due to the cryptocurrency market has experienced a bearish market from the start of 2018 up to the very last month of 2019. As the number of alternative coins in the market increases, people's trust and confidence toward them reciprocally decreases. This is due to the consideration that most of these coins may fail in the near future, or is in fact a scam or a false promise. This, in turn, makes the value of alternative coins go down or remain low in the competitive digital market.

The Blocknet is fighting back to retake its crown once more. Recently, the community has officially posted its partnership with Avalanche, an open-source high-performance platform for launching decentralized applications, financial primitives, and interoperable blockchains. Avalanche will aid the Blocknet protocol to upgrade its chains to cater to almost every other blockchain title today. This collaboration will allow the building of interchain dApps on Avalanche to perform more blockchain interactions. Whether you like it or not, the Blocknet will continue to thrive as a community and a one-of-a-kind cryptocurrency exchange platform.