Ana Sullivan

Blocknet (BLOCK) Coin – Will It Crash After Its Current 20 Percent Price Increase?

by Ana Sullivan May 15, 2018

Blocknet aims to become the Internet of Blockchains. Blocknet empowers the passionate communities behind every coin or token with atomic swaps on a truly decentralized exchange platform. Blocknet wants to serve as a connector between blockchains, markets, and communities. The Blocknet (BLOCK)coin has reached a market capitalization of 89.22 Million dollars in the last 24-Hour period. The coin traded 19.96% higher against the U.S. dollar during the last 24 hours ending at 11:00 AM EDT on May 15th. Just a few days ago, the price wasn’t as high and keeps fluctuating up and down unpredictably.

 

 

 

The Blocknet team has published aclear-cut roadmap displayed and updated on one of their websites which shows in more detail what the Blocknet project aims to achieve in the future. Blocknet also has a White Paper, which is proof to some extent that the goals on the roadmap are being completed.

 

Blocknet (BLOCK) – Recent Performance

 

The Blocknet has reached a market capitalization of 89.22 Million dollars in the last 24-hour period. Although, its price seems steady for now, it could drop till the end of the week, as it dropped and stayed down in terms of price last week and only went back up a couple of days ago. Blocknet (BLOCK) saw a rise of 19.96% at 11:00 AM EDT, on May, 15th against the US dollar. You can see the price fluctuations in the chart below:

 

 

The graphical chart was taken from the CoinMarketCap website.

 

Blocknet (BLOCK) – Historical Background

 

Blocknet aims to become the Internet of Blockchains. Blocknet empowers the passionate communities behind every coin or token with atomic swaps on a truly decentralized exchange platform. Blocknet wants to serve as a connector between blockchains, markets, and communities.

 

The Blocknet Protocol is a true peer-to-peer protocol between nodes on different blockchains. This enables the transfer of data and value between blockchains and opens the door to cross-chain decentralized applications.

 

Becoming the Internet of Blockchains will be quite a difficult task to achieve, although not impossible. The team that stands behind Blocknet and the Blocknet want to make it a reality and are working hard in order to bring a truly peer-to-peer relay hub for a multitude of blockchains.

 

What is left for the Blocknet team to complete from the current roadmap published on their websites is the following:

 

  • Finishing with the Wallet Redesign and launching it on the 15th of June, 2018

 

  • Opening Simple Payment Verification (SPV) Support on the 1st of July, 2018

 

Blocknet has yet to prove that it is not a volatile cryptocurrency and for now the recent price spikes state otherwise and shift every few days.

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