Blocknet is the infrastructure for the upcoming "Inter-Blockchain Era", an emerging technological age where the current API ecosystem replaces the decentralized and intrinsically monetized "Token Ecosystem" . This shift will occur when its supporting technologies (especially smart contracts and "distributed applications") mature enough for practical interoperability between blockchains. Blocknet is the technology leader in providing the interchain infrastructure used by distributed applications and smart contracts.

1. Project introduction

Blocknet is the infrastructure for the token ecosystem. It provides true peer-to-peer interoperability between nodes on different blockchains in order to provide any type of digital service from one node to another on any blockchain. Any given blockchain service functions not as an "application coin" but as a "protocol service", that is, any other distributed application on any blockchain can use it for open purposes, Rather than just a distributed application as its creator, this effectively expands the service's market reach and revenue stream.

The function of a smart contract token is not just to monetize distributed applications, but to be a "protocol token", which logically places it at a lower level of the technology stack, where its potential utility is greater. In addition, the code quality of the service may benefit from a broad developer base from different communities, making full use of their comprehensive learning knowledge, preventing chain bloat and code duplication, saving labor time, and serving the entire blockchain consumer market, while Not just one set of users serving its blockchain.

Distributed applications can simply orchestrate inter-chain services instead of writing complex code from scratch. Therefore, the main development task becomes API integration, rather than the complex and highly specialized task of writing a new "bulletproof" smart contract.

Build distributed applications with the help of microservice architecture, where each blockchain can provide a single service and integrate with many other services in a modular way, resulting in simpler component design, easier bug fixing, and easier Easy upgrades.

Being able to effectively bypass the (currently difficult) problem of choosing a blockchain upon which to build - not only at project launch, but also later in its life cycle, and where various microservices may be better distributed in different regions When implemented on the blockchain. Leverage its intrinsic token value to monetize inter-chain and multi-chain services.

Make full use of the new encrypted economical business model brought by blockchain technology. For example, businesses can extract value from a “better than free” model directly based on monetary policy (ICOs, transaction fees, deflationary economics, block rewards, and superblock self-funding systems) and a marketplace for monetization APIs.

2. Project Features

Interoperability:
First, Blocknet is the infrastructure between blockchains. Therefore, its most immediate design goal should be interoperability with the vast majority of existing and future blockchain implementations. Furthermore, it should interoperate with centralized entities to provide traditional server-based services in the token ecosystem.

Decentralization:
Essentially, decentralization means that no one entity has control over other entities in the system. For example, the main achievement of Bitcoin is, broadly speaking, the decentralized nature of money in which no single entity controls.

Security:
Decentralized and monetized services are characterized by a requirement for a high level of security and operational certainty at levels comparable to aviation applications because (a) typically Potentially alter or take offline services running at the edge of its network, (b) funds can lose most of their value very quickly if it is discovered that they may be misappropriated in a system that is not centrally rectified. For these reasons, Blocknet requires the highest level of security and operational certainty.

Trustless service delivery:
A frequent and desirable consequence of decentralization in the context of the blockchain is that it is not necessarily Act honestly. For example, with Bitcoin, one does not need to trust a middleman to transfer funds or a recipient to honestly report whether or how much a payment was received, because no middleman is involved and the counterparty can independently verify the status of the payment with a high degree of confidence. In the case of inter-chain service delivery, the same degree of "trustlessness" is required for service payment between blockchains, so that services can be provided and paid for without requiring participants to act honestly, thereby allowing inter-chain This unique feature of blockchain payments is maintained in the environment.

Simple integration (no coding required):
To maximize interoperability and reduce friction, Blocknet's integration and access to the token ecosystem does not require modifications to stock wallets or nodes . Note that coding may be required to use some third-party services delivered over the Blocknet, but not to use the Blocknet itself.

Decentralized Integration:
To maximize security and enable an open, Internet-like ecosystem, Blocknet integration and token ecosystem access do not require any central entity (Even our) mediation. To deliver or use a service through Blocknet, a consumer should not be required to (a) use Blocknet's blockchain, (b) use any particular service, or (c) use any service that has a centralized effect (here "centralized" is used to represents a range of scenarios, from the control of a central agent to the sidechain-style centralization of other networks around its network, the latter of which we refer to as "interchain centralization").

Composability:
Blocknet should be built with composability and modularity in mind wherever possible, in the same pattern as the inter-chain microservices envisioned above. Specifically, a key principle of microservices design is to maximize composability, while paying attention to which services are always used at the same time, to avoid building "distributed monoliths". These services remain unchanged in the token ecosystem.

Monetization:
In token ecosystems, the principle of composability adds a key principle: services are inherently monetizable. If it's not monetizable, then we recommend bundling it into the API of a monetizable service, otherwise the people running the service nodes may have no reason to because they won't be able to earn money from it.

Furthermore, the service's revenue stream needs to be secured through some trustless protocol or cryptoeconomic incentives, otherwise its value is unlikely to be realized. Monetization is the class of question whether consumers of your service are willing to pay for it, because it's a question of whether they can't force it to be free. The Blocknet shall monetize its core services where feasible, provide other services for free, and shall provide means by which services delivered through the Blocknet may be monetized securely.

Mobility and Small Footprint:
In the insurance, health, supply chain, agriculture, automotive telematics and security industries, multiple applications ranging from mobile applications to embedded IoT devices Both scenarios support the token ecosystem. Many of the use cases we expect to emerge require distributed applications with very small footprints that cannot host even a single blockchain. Blocknet should provide these devices with access to the token ecosystem so they can take advantage of blockchain-specific security, which we believe is critical to reducing the attack surface of IoT services.

Three. Comment

Blocknet is an open source blockchain interoperability protocol that enables communication, interaction and exchange between different public and private blockchains, as well as on-chain and off-chain access through oracles Data, APIs and services.

Related Links:

https://blocknet.co/
https://www.blocknet.co/wp-content/uploads/2018/05/Blocknet-Whitepaper-Mandarin.pdf
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