Topic: Blocknet solving Ethereums Centralized Data Protocol - Infura - page 2. (Read 500 times)

Blocknet's XLite wallet: https://xlitewallet.com/

Will definitely boost the overall use of the Blocknet DEX, which is one of the only DEX's out there with BTC and LTC trading pairs.

There's a pretty good incentive to hold a service node if the volume picks up, making BLOCK even more attractive from an investors point of view.
The future looks interesting - I wonder when people will put their attention towards promising ALT's.

Seems like a MAJOR flaw in Ethereum, if it only relies on a few centralized nodes.
I'll definitely do some research on Blocknet, seems like a promising project from I can read here, and that says a lot, as I haven't even read the white paper yet, lol.

Ethereum went down because of Infura just the other day. SO many people panicked when they logged into metamask to see their balance at: 0.00

Blocknet's Infura solution could be integrated straight into Metamask and give people the option to use a completely decentralized data transmitter in the future, instead of relying so much on Infura itself!

Infura seems like a very bad setup for Ethereum. Never been aware of this, and made me curious about Blocknet, which I remember from back in early 2018. Did a quick glance at it, but never really paid too much attention to the project.

Thanks for sharing this useful info, time to do some research! 

Blocknet is a nice project which is massively undervalued since they don't do it like everyone else. They don't use all their resoruces on marketing, but rather on straight up developments, which is nice for a change.

Blocknet is not just a DEX as believed by the vast majority of people, it's also a project working on a decentralized oracle network, which is much more complex and doesn't compromise decentralization. It's sybil resistant - Doesn't enforce KYC on it's nodes, like we've seen with Chainlinks setup.

Overall the upside potential on Block is massive. It's only a matter of time before they get recognized for their tech. 

You can join the beta testers through the Blocknet Discord channel and try it out on your own.
It's being fixed for bugs and exploits currently, but once finished, I'm sure the overall volume on their DEX will rise a LOT, benefitting node owners, and the whole eco-system

Nice read.

I've been eyeing Blocknet for a long long time, and believe it's massively undervalued versus what they've built so far.

Their Litewallet looks promising, making BTC trading possible in a decentralized fashion. Uniswap has seen massive success, but doesn't support REAL BTC, nor any other relevant projects like LTC.
It's currently undergoing testing, but the overall design looks promising: https://xlitewallet.com/

Only very very few people know about this, but I'm sure once they're ready and everyone starts taking notice, that Blocknet will get the attention it truly deserves. Meanwhile, I'm accumulating this, hard. 

I would have to agree that this is a very practical use case and problem solving side of blocknet that i was not aware of before, Infact it is really pleasing to know that these independent projects and their developers are working for a bigger cause and providing solutions for ethereum network which is a big achievement in my eyes and for this blocknet should be really appreciated.

The gas fees you pay whenever you want to send ETH based tokens via the ETH network is paid to a centralized data protocol called Infura.

Infura is a centralized data protocol, which if it goes down (has happened before), makes all the ETH tokens unuseable, which would be a disaster for a project like LINK, which relies on the ETH chain with it's nodes.

Blocknet is the only project working on a decentralized data protocol, which can handle ETH's data, the interesting part is the fees involved, which is shared among the nodes running these services. Infura collects millions of dollars in fees every year, so a fraction of those fees paid to node holders would mean incredibly high ROI for node owners.

Decentralization means that the single point of failure - Infura wont be an issue for token holders anymore. This is pretty interesting in terms of a business aspect, where node owners will take the fees, and not a centralized entity like Infura.

Blocknet is mostly known for their DEX, but they are much more than that, and this recent DEFI craze will for sure put Blocknet up to par with top delivering projects in this space, since their tech has been built on for years already.

You might wonder why this isn't a top 100 project yet, if what they are building is this significant, but they don't deal much with marketing yet, but rather focuses their time and energy on their tech.

Blocknet's tech could be incorporated straight into Metamask, giving it's users a decentralized, AND cheaper solution.

This is one of the very few projects I could see 100x, let alone 500x since it's marketcap is so incredibly low, and since this project isn't a new "churn and burn" project, you know they deliver.