What Is Blocknet Technology & How It Works?

• Toshendra Kumar Sharma
• August 25, 2017

The Blocknet platform revolutionizes development brought in the cryptographic technology. It has a behaviour of precise peer-to-peer control and the protocols in this network has Blockchains which are different. This platform has an API which directly enables an open-ended application to work.

Communication between nodes on different blockchains is essential for a mobile world. The greatest utility is that it allows correct Blockchains to serve single functions, which further can help the nodes on any other Blockchain. Therefore, this directly helps in making result in the “internet of blockchains” which is radical. This platform promises to extend the lifecycles of Blockchains which becomes swappable and archivable. This will directly enable a micro services approach which simplifies the development of applications and delivery of updates and allows services to function even if a single Blockchain encounters a problem. In short, blockchain-agnostic communication is to Blockchains what the internet was to computers: Revolutionary.

We all know that Blockchains remove the necessity of passing data over to a central third party, one can maintain actual control over one’s identity and personal information, also an indefinite range of functions will work automatically, intelligently, and flexible by devices.

A PLATFORM FOR SERVICES, BILLING, AND PAYMENTS NETWORK

The Blocknet’s services have a particular elegance: they deliver over the same network upon which payment to the service provider with no third party required. The competitive advantages of this are diverse:

• Transparency: This platform has their payment and service delivery recorded on a Blockchain. This further, will help to verify what has been done in that particular period. A world of fraud and chargebacks will disappear.
• Efficiency to the core: This doesn’t need a third-party to process payments, a settlement is in real-time, transaction fees are an order of magnitude cheaper, and one no longer has to check that a third party will reliably and trustworthily carry out the service.
• Value: Every micro service can competitively monetize and enable a genuine value of each function to obtain.
• Automation: Blockchiss is a record of every transaction in their history, and the movement of funds is verifiable independently of anyone party. We all know that financial records can automatically extract and utilize hours of labour and expense. This directly helps in delivering a truly accurate information that is trivially easy to audit.

With blockchain-agnostic mobile communication, the Blocknet and XCurrency have demonstrated the reality of a blockchain-enabled future. Interested parties are welcome to participate. A smart world awaits.