Topic: Blocknet's XRouter Can Pull In MASSIVE Amounts Of Fee's To Node Owners (Read 522 times)
January 25, 2021, 07:48:22 AM
XLite wallet is now being prepared for public release. I'm sure all the departments in the Blocknet team are making significant progress gearing up for the launch next week.
January 13, 2021, 11:29:09 AM
Every single node owner, all at once, everywhere.. Decentralization is a thing of beauty..
There are true costs for operating a blockchain. And those costs can be further leveraged to achieve by incentivizing the miners/node owners. Blocknet was the first DEX around for coins, not only for ethereum tokens. Node owners can profit off of trading fees.
There are true costs for operating a blockchain. And those costs can be further leveraged to achieve by incentivizing the miners/node owners. Blocknet was the first DEX around for coins, not only for ethereum tokens. Node owners can profit off of trading fees.
January 09, 2021, 11:34:51 AM
I'm a fan of Blocknet and Node Owner as well, I really do wish it a success. But we all know it. There is still a long way to go.
And in case you missed it. Block is about to reach $2..
I missed the ETH jump today but Litecoin and Block are killing it for me. BTC back at $26.8K
And in case you missed it. Block is about to reach $2..
I missed the ETH jump today but Litecoin and Block are killing it for me. BTC back at $26.8K
BLOCK reached $2 (due to BTC moving it up in FIAT). Holding ALT's right now is a pain in the ass, but once the market turns, I'm sure alt's will outperform BTC as it cools off.
Still very bullish on this project - Just released their updated roadmap for 2021, which includes cold staking and other good things!
January 07, 2021, 12:50:14 PM
I just want to share how win-win situation we have here on Blocknet.. So let me comment on the potential gains from just being node owners.
This is off the top of my head, and I know I'm leaving out an aspect of how the money would grow but I liked to share the idea of "impermanent loss."
Ex.
Say you do make 100% from fees in a year. Then plus the total worth, you stake. Let's also say the price of Block goes up 15x in that year.. So your total will be massive.. Making a profit from trading fees while holding your BLOCK
Blocknet income-producing asset is a thing of BEAUTY!
This is off the top of my head, and I know I'm leaving out an aspect of how the money would grow but I liked to share the idea of "impermanent loss."
Ex.
Say you do make 100% from fees in a year. Then plus the total worth, you stake. Let's also say the price of Block goes up 15x in that year.. So your total will be massive.. Making a profit from trading fees while holding your BLOCK
Blocknet income-producing asset is a thing of BEAUTY!
December 28, 2020, 07:56:32 PM
I'm a fan of Blocknet and Node Owner as well, I really do wish it a success. But we all know it. There is still a long way to go.
And in case you missed it. Block is about to reach $2..
I missed the ETH jump today but Litecoin and Block are killing it for me. BTC back at $26.8K
And in case you missed it. Block is about to reach $2..
I missed the ETH jump today but Litecoin and Block are killing it for me. BTC back at $26.8K
June 05, 2020, 05:13:22 AM
Never heard of Blocknet before, but this forum seems to spare some golden nuggets from time to time. The most important aspect of all of this is the right marketing. If they can pull it off, they're off to a great start. I believe they need to look into partnering up with other projects to see any kind of expoure, much like LINK has done up until now.
They just enabled NEO on their XRouter, which is a decentralized oracle network. I'm sure we'll see partnerships form eventually, which should boost the marketing of BLOCK significantly.
May 10, 2020, 05:35:10 AM
Never heard of Blocknet before, but this forum seems to spare some golden nuggets from time to time. The most important aspect of all of this is the right marketing. If they can pull it off, they're off to a great start. I believe they need to look into partnering up with other projects to see any kind of expoure, much like LINK has done up until now.
May 07, 2020, 08:50:45 AM
So from what I could dig up in this thread. The XRouter can bridge blockchains, and make them communicate, which is very convenient for developers wanting to benefit from multiple blockchains at once? That's incredibly genius and something I could see a LOT of demand for.
Definitely doing more research on this one - Funny how the most promising projects (tech wise) is the least known.
Definitely doing more research on this one - Funny how the most promising projects (tech wise) is the least known.
There's a ton of demand for this. It's pretty similar to Chainlink, but without enforced KYC on people running nodes, which puts Blocknet on top in terms of decentralization actually.
As much as Chainlink is leading the race right now, they'll get a LOT of competition in the future. The fact that 67% of the initial supply is owned by 1 entity in the Cayman Island kind of worries me.
True, great points man.
I've yet to see any real use case from LINK anyway. Been seeing a lot of partnerships, but no real useage, I wonder if that's part of the reason the price of LINK is plummeting right now? BTC on a run, so I guess that's why.
Still need to do more research on Blocknet, but it sure looks promising.
May 06, 2020, 10:11:42 AM
So from what I could dig up in this thread. The XRouter can bridge blockchains, and make them communicate, which is very convenient for developers wanting to benefit from multiple blockchains at once? That's incredibly genius and something I could see a LOT of demand for.
Definitely doing more research on this one - Funny how the most promising projects (tech wise) is the least known.
Definitely doing more research on this one - Funny how the most promising projects (tech wise) is the least known.
There's a ton of demand for this. It's pretty similar to Chainlink, but without enforced KYC on people running nodes, which puts Blocknet on top in terms of decentralization actually.
As much as Chainlink is leading the race right now, they'll get a LOT of competition in the future. The fact that 67% of the initial supply is owned by 1 entity in the Cayman Island kind of worries me.
May 05, 2020, 10:18:09 AM
So from what I could dig up in this thread. The XRouter can bridge blockchains, and make them communicate, which is very convenient for developers wanting to benefit from multiple blockchains at once? That's incredibly genius and something I could see a LOT of demand for.
Definitely doing more research on this one - Funny how the most promising projects (tech wise) is the least known.
Definitely doing more research on this one - Funny how the most promising projects (tech wise) is the least known.
April 15, 2020, 09:20:05 AM
Thanks for your reply. I guess I need to do some more research on their XRouter and how it works. Potentially this could be a big deal, but so could a lot of things crypto related, so I need to do some hefty research before I jump ship.
I have made a website that showcases the possibilities of XRouter in a form of a user interface. You can get all kind of information from all blockchains hosted by the service nodes on the Blocknet Network. You can also bring off-chain data onto the chain with XCloud Services, which you can also play around with on the site.
It is still a work in progress, but it's working already.
https://service-explorer.core.cloudchainsinc.com/#/
Thanks for your contribution. Looks like a pretty handy tool.
I'm sure the XRouter services will be incredible profitable if it ever takes off for what it is deemed to do. Pretty exciting!
April 09, 2020, 04:33:52 AM
It is all theoretical in the end,,, and especially if you do NOT have the users like bitcoin,,, then it is impossible to hope for the volume you would need to bring in the massive fees. Even Lightning node guys did it early on but eventually when more came in, it became difficult!
April 09, 2020, 04:15:23 AM
Thanks for your reply. I guess I need to do some more research on their XRouter and how it works. Potentially this could be a big deal, but so could a lot of things crypto related, so I need to do some hefty research before I jump ship.
I have made a website that showcases the possibilities of XRouter in a form of a user interface. You can get all kind of information from all blockchains hosted by the service nodes on the Blocknet Network. You can also bring off-chain data onto the chain with XCloud Services, which you can also play around with on the site.
It is still a work in progress, but it's working already.
https://service-explorer.core.cloudchainsinc.com/#/
April 08, 2020, 05:07:46 PM
Hi all. Just came across this thread. Thought you might like to read this:
https://blocknet.co/the-blocknet-protocol-this-is-what-a-decentralized-infura-looks-like/
Here is a bit of the article relevant to this thread: (click the link for the whole thing) :
https://blocknet.co/the-blocknet-protocol-this-is-what-a-decentralized-infura-looks-like/
Here is a bit of the article relevant to this thread: (click the link for the whole thing) :
Quote
The Incentives Of Running A Blocknet Service Node
The Blocknet Protocol allows for the monetisation of inter-chain and multi-chain services and for interactions between any smart contract platform and any other blockchain, even those that do not have smart contract capabilities. (e.g non Ethereum chains.) XRouter was designed from the ground up to provide interoperability with ANY and ALL blockchains, including all DTL’s (such as IOTA and Hashgraph.) and private chains (such as Hyperledger or R3.) There is no limit on the data XRouter can consume and verify. It is not limited to blockchain data only. XRouter can also verify external data sources such as those used in Oraclize. (In this example, a non-blockchain weather data call can be utilized.) The Blocknet Protocol is supported by a network of Service Nodes, which are similar to Masternodes but with an increased level of participation. Service Nodes host full nodes of the supported blockchains, host microservices, verify UTXOs, route communication between blockchains, and perform anti-spam and anti-DOS measures for the network. BLOCK is the utility token of the Blocknet blockchain and is used to pay fees for the network’s services, such as those provided by XBridge and XRouter. Through these fees, BLOCK is used as compensation to participating Service Nodes to incentivize support. In addition to receiving fees for supporting the network, operators of Services Nodes also receive 100% of fees generated from use of the network’s services (XBridge, XRouter, XCloud). Blocknet Service Node owners therefore have a great incentive to maintain their nodes. This is a marked difference to operating a normal Ethereum node where there is a lack of an economic model to encourage operators to continue to run Ethereum nodes. (Rewarding full Ethereum nodes isn’t part of the base layer). This may be a contributing factor to the decline in the number of Ethereum nodes. There are currently approximately 450 Blocknet Service Nodes spread across the planet providing a stable decentralized network with access to over 100 blockchains. Because of this, the network is not susceptible to centralized failure or censorship and the potential for node collusion is very small when compared with a centralized collection of servers where it would be easier to game the system. Moreover, running a Blocknet node means that node operators will be providing the framework for a brand new API ecosystem where 100% of provider fees go to Service Nodes.
The Blocknet Protocol allows for the monetisation of inter-chain and multi-chain services and for interactions between any smart contract platform and any other blockchain, even those that do not have smart contract capabilities. (e.g non Ethereum chains.) XRouter was designed from the ground up to provide interoperability with ANY and ALL blockchains, including all DTL’s (such as IOTA and Hashgraph.) and private chains (such as Hyperledger or R3.) There is no limit on the data XRouter can consume and verify. It is not limited to blockchain data only. XRouter can also verify external data sources such as those used in Oraclize. (In this example, a non-blockchain weather data call can be utilized.) The Blocknet Protocol is supported by a network of Service Nodes, which are similar to Masternodes but with an increased level of participation. Service Nodes host full nodes of the supported blockchains, host microservices, verify UTXOs, route communication between blockchains, and perform anti-spam and anti-DOS measures for the network. BLOCK is the utility token of the Blocknet blockchain and is used to pay fees for the network’s services, such as those provided by XBridge and XRouter. Through these fees, BLOCK is used as compensation to participating Service Nodes to incentivize support. In addition to receiving fees for supporting the network, operators of Services Nodes also receive 100% of fees generated from use of the network’s services (XBridge, XRouter, XCloud). Blocknet Service Node owners therefore have a great incentive to maintain their nodes. This is a marked difference to operating a normal Ethereum node where there is a lack of an economic model to encourage operators to continue to run Ethereum nodes. (Rewarding full Ethereum nodes isn’t part of the base layer). This may be a contributing factor to the decline in the number of Ethereum nodes. There are currently approximately 450 Blocknet Service Nodes spread across the planet providing a stable decentralized network with access to over 100 blockchains. Because of this, the network is not susceptible to centralized failure or censorship and the potential for node collusion is very small when compared with a centralized collection of servers where it would be easier to game the system. Moreover, running a Blocknet node means that node operators will be providing the framework for a brand new API ecosystem where 100% of provider fees go to Service Nodes.
April 01, 2020, 10:16:12 AM
Interesting. So basically you can collect XRouter AND DEX fee's along with the traditional block rewards from holding a node?
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
Forgot I even made this thread, haha.
Yes, you'll be able to profit passively from all 3 sources if you run a node. If you can't afford a node you can stake your coins like any other Proof Of Stake coin out there.
If Blocknet truly takes off with partnerships etc. in the future, you could make a hefty sum of profits from a node or two, especially from the XRouter.
Nice, that's actually pretty cool. I'm eyeing a lot of great opportunities to take advantage off with these low prices. Think I'll buy some BLOCK, been accumulating a lot of ADA, ETH, and BTC lately, so I think I'm pretty well diversified for the next run up.
Diversification is key! I'm doing a ton of research on other DEX related projects as well as of recently. Also looking into DEFI projects, as it seems like decentralization is the next step forward, these projects will likely be the biggest gainers next bull run.
Good luck!
DEFI is definitely getting a lot of attention recently, anything that goes with decentralization is, which is obviously why Binance, and CZ is getting so much critisism lately for their bold behavior on everything. They want control, power, and monopoly, something that goes completely against the whole crypto community, which I guess they'll be punished for eventually, once people wake up.
I'd love to hear about alternatives to Blocknet, as I want to put my money into projects that builds on the idea of decentralization.
Anyone?
March 26, 2020, 07:57:12 AM
Interesting. So basically you can collect XRouter AND DEX fee's along with the traditional block rewards from holding a node?
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
Forgot I even made this thread, haha.
Yes, you'll be able to profit passively from all 3 sources if you run a node. If you can't afford a node you can stake your coins like any other Proof Of Stake coin out there.
If Blocknet truly takes off with partnerships etc. in the future, you could make a hefty sum of profits from a node or two, especially from the XRouter.
Nice, that's actually pretty cool. I'm eyeing a lot of great opportunities to take advantage off with these low prices. Think I'll buy some BLOCK, been accumulating a lot of ADA, ETH, and BTC lately, so I think I'm pretty well diversified for the next run up.
Diversification is key! I'm doing a ton of research on other DEX related projects as well as of recently. Also looking into DEFI projects, as it seems like decentralization is the next step forward, these projects will likely be the biggest gainers next bull run.
Good luck!
March 19, 2020, 10:39:19 AM
Interesting. So basically you can collect XRouter AND DEX fee's along with the traditional block rewards from holding a node?
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
Forgot I even made this thread, haha.
Yes, you'll be able to profit passively from all 3 sources if you run a node. If you can't afford a node you can stake your coins like any other Proof Of Stake coin out there.
If Blocknet truly takes off with partnerships etc. in the future, you could make a hefty sum of profits from a node or two, especially from the XRouter.
Nice, that's actually pretty cool. I'm eyeing a lot of great opportunities to take advantage off with these low prices. Think I'll buy some BLOCK, been accumulating a lot of ADA, ETH, and BTC lately, so I think I'm pretty well diversified for the next run up.
March 16, 2020, 02:02:57 PM
Interesting. So basically you can collect XRouter AND DEX fee's along with the traditional block rewards from holding a node?
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
Forgot I even made this thread, haha.
Yes, you'll be able to profit passively from all 3 sources if you run a node. If you can't afford a node you can stake your coins like any other Proof Of Stake coin out there.
If Blocknet truly takes off with partnerships etc. in the future, you could make a hefty sum of profits from a node or two, especially from the XRouter.
Thanks for your reply. I guess I need to do some more research on their XRouter and how it works. Potentially this could be a big deal, but so could a lot of things crypto related, so I need to do some hefty research before I jump ship.
March 13, 2020, 03:55:04 AM
Interesting. So basically you can collect XRouter AND DEX fee's along with the traditional block rewards from holding a node?
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
Forgot I even made this thread, haha.
Yes, you'll be able to profit passively from all 3 sources if you run a node. If you can't afford a node you can stake your coins like any other Proof Of Stake coin out there.
If Blocknet truly takes off with partnerships etc. in the future, you could make a hefty sum of profits from a node or two, especially from the XRouter.
March 09, 2020, 01:47:07 PM
Great thread, funny I didn't notice it until now.
XRouter is hard for most people to understand, thus why it's hardly mentioned anywhere. The possible use cases is however endless if you dig down in the tech and get to understand how the concept really work
Block is a hidden gem, got like 10% of my total portfolio in this one, might add a few more.
XRouter is hard for most people to understand, thus why it's hardly mentioned anywhere. The possible use cases is however endless if you dig down in the tech and get to understand how the concept really work
Block is a hidden gem, got like 10% of my total portfolio in this one, might add a few more.
March 02, 2020, 02:01:01 PM
Interesting. So basically you can collect XRouter AND DEX fee's along with the traditional block rewards from holding a node?
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
Might need a deeper look into it. Wasn't aware of all these passive ways of income through the network, just parts of them.
I'm sure it will take a while before we see any major adoption of these services on the larger scale though, long term perhaps.
February 28, 2020, 11:05:53 AM
If Blocknet truly get's the ball rolling eventually through partnerships and what not, the income potential could be massive I think. It's all just speculation at this point. There's so many "If's" in this game, that you literally take a gamble (based on market fundamentals) each time you invest in a given project.
Pretty optimistic calculations here, but in 5-10 years, sure it could be possible to see those numbers.
Pretty optimistic calculations here, but in 5-10 years, sure it could be possible to see those numbers.
February 27, 2020, 01:33:51 PM
Blocknet - The Internet Of Blockchains
I recently digged deep into this project, since I got extremely interested in DEX's since they seem to be on everyones agenda lately. To my surprise I discovered that Blocknet is WAY more than just a simple "DEX".
Their Xrouter is what caught my interest:
Blocknet's XRouter which makes it possible to build decentralized apps using features from any public or private blockchain, will serve as the foundation for multi-blockchain architectures and the “Internet of Blockchains”. XRouter was designed from the ground up to provide interoperability with ANY and ALL blockchains.
Sounds familiar doesn't it? You can read more about it here: https://blocknet.co/xrouter-missing-link-between-all-blockchains/
When comparing Blocknet's Xrouter to Chainlinks Oracles an interesting thing caught my attention!
XRouter can serve billions of requests per day like Infura (who is doing over 20 billion/day). If each call averages out to about 0.001 BLOCK/call, then that's about $1,000,000 going to the active service nodes. If 100 is running it equals to $10,000/day per service node that the XRouter pulls in based off a tiny 0.001 BLOCK call at $2.
LINK charges 0.1/call which is $0.40 cents, which is quite expensive compared to BLOCK.
I'm not saying LINK is a trash project, but it sure seems hyped up when you've got a project doing the exact same thing in a far more decentralized fashion with a 1/200 of the marketcap, while having the first working DEX running at the same time.
On top of all this, there's DEX trading fee's on top of it all as well..
What are you guys thoughts about this? I'd love to know...
I recently digged deep into this project, since I got extremely interested in DEX's since they seem to be on everyones agenda lately. To my surprise I discovered that Blocknet is WAY more than just a simple "DEX".
Their Xrouter is what caught my interest:
Blocknet's XRouter which makes it possible to build decentralized apps using features from any public or private blockchain, will serve as the foundation for multi-blockchain architectures and the “Internet of Blockchains”. XRouter was designed from the ground up to provide interoperability with ANY and ALL blockchains.
Sounds familiar doesn't it? You can read more about it here: https://blocknet.co/xrouter-missing-link-between-all-blockchains/
When comparing Blocknet's Xrouter to Chainlinks Oracles an interesting thing caught my attention!
XRouter can serve billions of requests per day like Infura (who is doing over 20 billion/day). If each call averages out to about 0.001 BLOCK/call, then that's about $1,000,000 going to the active service nodes. If 100 is running it equals to $10,000/day per service node that the XRouter pulls in based off a tiny 0.001 BLOCK call at $2.
LINK charges 0.1/call which is $0.40 cents, which is quite expensive compared to BLOCK.
I'm not saying LINK is a trash project, but it sure seems hyped up when you've got a project doing the exact same thing in a far more decentralized fashion with a 1/200 of the marketcap, while having the first working DEX running at the same time.
On top of all this, there's DEX trading fee's on top of it all as well..
What are you guys thoughts about this? I'd love to know...
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