Topic: Blocknet's Decentralized Oracle Network - XRouter (Read 130 times)

Blocknet has authored numerous innovative inventions and one example is XRouter. The invention of XRouter is like the invention of the internet.

The arrival of blockchain is like the creation of the first computers. Early mainframe computers were only able to run a single program at a time, lacked any form of the operating system, and couldn’t communicate with other computers. However, this soon began to change and these early computers eventually provided the platform on which operating systems would be built.

In this way, the blockchain is similar for it provided a common base principle that enabled the early blockchain ecosystem to evolve. One could liken the development of Ethereum to that of an operating system for blockchains. Just as the early computer operating systems enabled a computer to run software applications, Ethereum allows for smart contracts to function in a similar way because it has a Turing-complete programming language and smart contracts allow for systems and rules to be created so that execution of programs can take place. In the same way that applications could be built on dedicated operating systems on computers, developers could now create their own applications relatively easily on top of Ethereum.

One can conclude that XRouter is the creation of the internet. The internet-enabled all computers and operating systems to communicate together via the agnostic TCP/IP protocol.   However, at this point, the analogy falters. There is currently no “Internet of Blockchains”. By the very nature of their design, blockchains cannot communicate with other blockchains. No data between different blockchain services can be transferred, and as a result blockchain technology is at a historical crossroads. It needs to evolve and expand. It needs to achieve the same reach and interconnectivity that the internet achieved.

This is what XRouter does. It enables any and all blockchains to communicate with each other creating a true Internet of Blockchains. XRouter utilizes the TCP/IP network to connect paths between different blockchains just as the internet does with computers, and all without having to download a single blockchain. Essentially, blockchain routing is similar to general smart contract calls. This allows for interactions between any smart contract platform and any other blockchain, even those that do not have smart contract capabilities. 

Decentralization means that there is no central points of control, no central points of failure. In practice, that should mean that the network is effectively impossible to shut down or manipulate against the will of the rest of the network. And I am super into it.

I am a newbie but I prefer to study how to use DEX's and to actually use DEX than to use CEX's. People are into DEX's for security reasons. People like me who are willing to pay the price just for the premium security. CEX's can be sometimes not reliable enough for beginners. Thankfully we have Blocknet that is easy to use for newbies. 

I understand what you mean. As a first time trader the DEX can be confusing, but given it's decentralized nature it has to function the way it does.

To make things way easier, they are soon releasing their litewallet, which supports the major cryptocurrencies, allowing you to trade through the DEX, without syncing to the network, or downloading chains on your own.
This will make the DEX way way easier to use for the average Joe.

Is the oracle not decentralized at the moment? Why do some posters sometimes say it's fully decentralized exchange? Anyway, If you guys could try make the DEX easy to use, maybe that will attract lots of people. It is one of the few DEXes am interested in and still trying to understand.

     

Sure, i have ignored the XRouter and will take a look at it, but blocknet sure has been having a presence in bitcointalk lately. I would bet my money that they have some sort of paid shilling program going on because bitcointalk has been targeted conversations that have been basically disguised ads.

Blocknet and their XRouter services has so many use cases, yet is ignored by most people who hasn't done any research on the project. Chainlink seems to get the most attention mainly because of their way of marketing. Doesn't mean however that Blocknet wont be of great competition in the future, even with such a low marketcap, afterall they've been in the blockchain business since 2014, and have been working on their project non stop since then.

Wasn't aware of that article, so thanks for posting OP,  the community seems to grow bigger and bigger, which reflects on the activity I've seen grow on their Discord and Telegram as of lately. Really refreshing for once.

Most people only know about Blocknet as being a "DEX". So I'm sure a lot of people neglect this project as being another "DEX" project who's only goal is to do what everyone else is doing, despite them being the first to release a fully trustless DEX.

I remember this project in the top 100 of Coinmarketcap way back in 2017, and wondered what happenend, only to discover they've been working on their own decentralized oracle network since releasing their DEX in early 2018.

Anyone who's interested in reading about this can do so here: https://blocknet.co/introducing-xrouter-developers-can-now-mix-and-match-any-blockchain-via-the-worlds-first-blockchain-router/

Developers will be able to use this network as they please, interconnecting real world applications with blockchains, the fees involved is distributed among the network to the service nodes (who's running the DEX part as well).

So in a nutshell, we've got a project with their own DEX, and soon a decentralized oracle network, evaluated at a $13 million marketcap only, while we have litteral vaporware projects with nothing to show for it, evaluated at 5x the marketcap.

Thoughts?