Blocknet has continued its run of innovative and groundbreaking technology by publicly demonstrating the world’s first decentralized lite multi-wallet at the North American Blockchain Expo in Silicon Valley.
Earlier this year, Blocknet released XRouter, the world’s first blockchain router. This was quickly followed by another first in blockchain tech, the first ever blockchain transaction without the blockchain installed. And now, using XRouter, Blocknet has demonstrated a Proof-of-Concept (PoC) decentralized lite multi-wallet. The first wallet of its kind, anywhere!
Blocknet is a 2nd layer blockchain interoperability protocol that enables communication, interaction, and exchange between different blockchains. This allows for the development of multi-chain applications and blockchain microservices, creating exponentially more capabilities and possibilities for the blockchain ecosystem. Blocknet is a self-funded and self-governed open source project with contributors around the world building an open and collaborative ecosystem.
XRouter provides the Blocknet Protocol with a communication layer consisting of an inter-blockchain SPV client backend that enables the verification of blockchain records without requiring users to download the full blockchain. XRouter allows applications to interface with blockchains on the TCP/IP networking layer, enabling a true Internet of Blockchains.
The PoC lite multi-wallet was built by Cloudchains Inc., powered by Blocknet’s XRouter, and is 100% serverless! The decentralized lite multi-wallet connects to a global network of Blocknet Service Nodes to route the transaction to the respective blockchain, instead of a centralized server or infrastructure, all without the respective blockchain installed! Until now, lite multi-wallets had to connect to specific centralized nodes to interact with specific chains (such as the Jaxx wallet for example, which has to connect to nodes that Jaxx controls) because previously there was no way to connect decentralized random nodes to receive or submit blockchain data. XRouter solves this by allowing connections to the Blocknet decentralized network via the Cloudchains Inc. lite multi-wallet enabling access to decentralized nodes in a complearly trustless manner.
Transactions were demonstrated from the wallet with Blocknet (BLOCK), Bitcoin (BTC), Litecoin (LTC), Dash (DASH), Dogecoin (DOGE), Digibyte (DGB), Syscoin (SYS), Viacoin (VIA), and XCurrency (XC). Although the PoC demonstration was limited to only these blockchains, Blocknet’s XRouter is compatible with any blockchain. Checkout some screenshots here.
Blocknet will continue breaking new ground as we move into 2019. See what is coming next year on the 2019 Roadmap. Make sure to keep up with the latest developments by joining the Blocknet community on Discord, subscribing to the biweekly newsletter, and don’t forget to check out the Blocknet website.
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