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↗️+0.12 Bitcoin BTC $42119.32 $797531457449
↗️+0.18 Ethereum ETH $3144.97 $374994242610
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↘️-0.1 USD Coin USDC $1 $46092631120
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↘️-0.99 Cosmos ATOM $39.29 $11251351740
↗️+0.09 Wrapped Bitcoin WBTC $42077.44 $11099321341
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There is a small fee stakers will be required to pay to use the smart contract, which helps balance the cost of running and maintaining this system and the staking contract. Gas fees will also be incurred with transactions. The BLOCKv Testnet is live. Introduction. The second functionality we are excited to introduce is the availability of BLOCKv’s own permissioned blockchain. Whilst we have supported minting on an array of leading blockchains for a number of years now, and will continue to do so, this new chain will be run for the express purpose of minting NFTs created on the BLOCKv platform. Functionality. The BLOCKv blockchain is based on the Ethereum standard, meaning BLOCKv NFTs emitted on the chain will be ERC-721 tokens. Transaction validity is determined through a consensus mechanism similar in structure to the Ethereum blockchain, with BLOCKv and other parties operating validator nodes and a consensus between nodes being required to determine validity. To ensure operational security is maintained, the process for becoming a validator node operator will be determined through a hybrid approach of proof of authority and proof of stake, with validator operators needing to stake a predetermined amount of VEE and pass an authority check in order to be approved. Currently the BLOCKv platform is operating a Testnet of this chain, where validator nodes are confined to pre-existing platform nodes, whilst beta testing is conducted. We are aiming to launch the fully fledged Mainnet in October once beta testing is complete, and other parties will be able to operate validator nodes in the near future. There is a dedicated explorer for the new chain accessible from https://explorer.blockv.io. VEE’s role within the blockchain. As with other Ethereum based networks, a native token is required for the operation of the chain, and for the BLOCKv Mainnet that native token will be VEE. Any transaction on the chain will generate fees which are payable in VEE. Our model does not require the creation of new VEE tokens for use on this blockchain and we have instead constructed a ‘bridge’ that enables users to move tokens from Ethereum Mainnet onto the BLOCKv Mainnet using their Metamask wallet. These VEE tokens can then be used to pay for transaction fees or to stake in validator nodes, as well as perform other, as yet undefined functionality we hope to add in the future. This new blockchain, along with the addition of the staking pool to the BLOCKv platform, will bring new functionality and options for VEE holders both now and in the future as the platform expands. Operational independence, binance time to precosseing withdrawal. In past feature updates we’ve discussed some of the defining logic behind the BLOCKv platform’s creation, and identified how various features that have been implemented move us closer to achieving the goals identified by this logic. One of these goals is the belief that the BLOCKv platform, and the NFTs produced on it, should not be inherently bound to any one chain. The introduction of the permissioned blockchain (and its use of VEE as its native token) represents a major step towards this goal as it removes any dependency on a secondary token for the creation and transferral of blockchain based NFTs. However, the implementation of this new functionality will not come at the detriment of pre-existing blockchain support.The ability to mint BLOCKv NFTs to the BLOCKv chain will be offered to creators as one of many options amongst the likes of Polygon, Ethereum and Binance Smart Chain , with the creator deciding which chain best suits their needs. Payment abstraction and scalability. Thanks to its single purpose nature, this chain will also bring significant improvements to our current payment and scalability offerings. As a dedicated NFT chain, the permissioned network offers users the ability to mint on chain NFTs without any exposure to external dependencies, allowing for both greater creative freedom and the ability to scale up multi-directionally with demand increases, without significant impact on transaction speeds or gas fees. The implementation of VEE as token of choice for transaction fee payment also enables the BLOCKv platform to abstract the payment process for transferring and minting on-chain NFTs into an internal platform function. This will enable the platform to conduct transactions within the ecosystem in a much smoother manner and will also bolster our ability to implement future staking rewards, marketplace-esque transactions and other features. The BLOCKv platform has operated a mechanism where it enacts VEE payments for emission fees on behalf of creators and publishers for a charge in USD for a number of years, and the ability to mint on-chain through this existing channel represents a natural evolution of this process. Marketplace functionality. The final piece of the Q3 update we’re sharing today is the introduction of new marketplace functionality to the platform. We have now implemented a number of new features that enable creators and publishers to build marketplace dynamics into their projects and campaigns. These include the ability for publishers to create and distribute their own loyalty points, coins and rewards for use within campaigns. These ‘coins’ can be collected by end users and exchanged or used to purchase NFTs in custom marketplace environments. 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Market capitalization: $ 1986 billion (+ 4.2%) 🔺 (against $ 1902 billion yesterday morning).
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