Commerce in the future with Blocknet's X-bridge and X-router

LeoFinance
9 days ago
2 Min Read
378 Words

The future of the blockchain

Interchain

The Blocknet application X-Router functions as a network, which connects blockchains, forming access points where different cryptocurrencies can be traded via atomic swaps without non-fungible token intermediaries. The purpose of these swaps would be to facilitate the purchase of goods and services. While some blockchains exist only as an alternative to another as a means of transferring wealth from point A to Point B, others serve as a store of value, but others have functioning dApps or decentralized applications on those blockchains which provide actual goods and services, usually for sale in the native currency. However you can't buy them if your cryptocurrency wealth is in another currency.

However, if you could trade your currency to the other for their currency at the access point to their blockchain provided by X-Router, then you could pay for those goods and services at the point of sale, without an intermediator.

For example, you are an investor in Chainlink and own plenty of Link, and you want to buy a Crypto-Kittie on the ethereum blockchain. You could navigate to the ethereum blockchain access point on the interchain network called X-router and then using the Blocknet application X-Bridge perform an atomic swap trade of Link for Ethereum. Then you would use the Ethereum to buy a crypto-kitty. The Crypto-Kittie being an ERC token would be stored on your metamask wallet. You have now purchased a Crypto-Kittie with Link, using X-Bridge and X-Router.
You didn't need to go to an exchange, trade your Link for Bitcoin, then your Bitcoin for Ethereum and then transfer your Ethereum to your Metamask wallet, then go to Ethereum blockchain and purchase a crypto-city.

As you can see, this is a much faster transaction and leads to one stop shopping and more shopping. You can see how the complicated process for buying crypto-kitties in the second example would limit your number of purchases. While in contrast, the first method is so easy, as to tempt you to make additional purchases. I think this is the future of digital commerce. I suggest you read more at the Blocknet website to educate yourself and consider investing.

@shortsegments

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title: Commerce in the future with Blocknet's X-bridge and X-router

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