The Blocknet is a revolutionary advancement in cryptographic technology: a true peer-to-peer protocol between nodes on different blockchains. It is the “internet of blockchains,” enabling open-ended communication and delivery of services between users of different cryptocurrencies, and vastly increasing the user base (and profit potential) of any given coin. Its ITO (initial token offering) will take place on 29 October 2014. The Blocknet is an initiative by XCurrency developer Dan Metcalf, who, when considering how best to build XCurrency’s user base and to improve the state of crypto in general, hit upon an idea to accomplish both in one fell swoop. What if one coin’s features could function as services accessible to users of every other cryptocurrency? What if the foundation fostering this technology could ratify new coins and thereby exclude the “scamcoins” that crypto is rife with? What if it could incubate further development and enable collaboration between talented developers? The idea of a Blocknet was born.

A TRULY DEMOCRATIC, NON-CENTERED PROJECT

The Blocknet is not, of course, the only project creating an “internet of blockchains.” However it has at least three fundamental differences from competing projects. Firstly, it has no central or core currency (unlike BTCD for SuperNET), and thus will create a truly open, democratic inter-blockchain framework that can be extended as widely as the internet was. While the idea was initiated by XCurrency, XC is no more a “core coin” than any other, and its team does not control the Blocknet Foundation. Every participating coin is eligible for a seat on the Foundation’s board. This is necessary for the Blocknet to freely and directly link any cryptocurrency network to another one, and thus truly be an “internet of blockchains.”