August has been game-changing month for Blocknet as our XRouter technology successfully sent a SysCoin transaction from one address to another, all without the SYS blockchain installed. The very first mainnet SPV transaction of it’s kind, ever!
XRouter is a decentralized inter-blockchain SPV client (or “lite wallet”) backend, enabling the verification of blockchain records from almost any blockchain without requiring users to download the blockchain in question. This allows lightweight dApps to harness contracts and protocols from other blockchains, laying down a foundation for the decentralization of the API ecosystem and the arrival of a new era of interoperability. An “internet of blockchains” is just around the corner and will give any application the ability to submit and query chain data — as well as transactions — without requiring a blockchain to be installed.
You can view this historic tx here and view the API call and more information below:
Syscoin was chosen for this historic transaction because of the innovative tech for their forthcoming Pangolin Chrome extension. Speaking at Consensus on May 23rd, Syscoin team manager and developer, Dan Wasyluk explains:
“What we’re going to do is integrate Blocknet into Blockmarket desktop and in Pangolin, so that we can enable cross-currency exchange through a DEX, using the application that we put out. We also think that that will be beneficial for a bunch of the ICOs that we already have planned to launch using assets on the Syscoin chain. So CoinPayments Coin is—I think—the biggest and first ICO launching on Syscoin’s asset platform, and by having them be tradable on Blocknet as well, I think that will really not only increase the network effect for Blocknet so more people will know about the DEX. And also it will be good for Syscoin, because more people will be able to have liquidity on CoinPayments Coin that is based on the Syscoin blockchain.
Blocknet now lists Syscoin 3, and Syscoin 3 has an assets feature… And so, we’re talking about how Blocknet could enable all asset trading for Syscoin and be basically the first, exclusive trading platform for assets. But also, it’s a DEX. And Syscoin assets trading on a DEX is something we are all about, because we love the decentralized component of things.”
We invite all blockchain dApp developers to check out the limitless possibilities now available with Blocknet’s XRouter—please visit http://api.blocknet.co/