BLOCX.

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Discover BLOCX.'s fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is BLOCX.?

BLOCX is a proof-of-work cryptocurrency built on the X11 algorithm, offering a comprehensive suite of integrated features and services. It focuses on speed, low gas fees, and network security. The native BLOCX coin fuels an ecosystem that includes malware protection, cloud services, internet security, driver scanning, password vault, remote access, system optimization, and a secured wallet. The coin can be used for various purposes such as collateral for masternodes, accessing premium security features, payment for GPU and CPU rental, and cloud storage rental.

How is BLOCX. used?

BLOCX. is a cryptocurrency that offers a comprehensive suite of features and services to simplify and secure the digital experience. It provides an integrated wallet for managing and safeguarding cryptocurrencies, ensuring a decentralized platform for users.

One of the key uses of BLOCX. is in its distributed computing marketplace, where users can rent out their unused computing power or storage and get paid in BLOCX. Additionally, the platform includes a decentralized messenger that is more than end-to-end encrypted, powered by Masternodes.

BLOCX. also offers various security features, such as a comprehensive malware detection and removal system, a Safebrowser, and a VPN. It includes tools like a ChatBOT, Scam Detector, Contract Scanner, and Website Scanner to enhance user safety.

Furthermore, users can connect to and control their digital resources across devices, store and manage user credentials, and utilize an Allchain Bridge Swap to swap to over 300 different currencies. Overall, BLOCX. aims to provide a one-stop solution for users to manage their digital assets securely and efficiently.

How do I store BLOCX.?

To store BLOCX (BLOCX) tokens, you have several options:

  1. Custodial Wallet: A third-party service holds your crypto for you, either through cold (offline) storage, hot (online) storage, or a combination of both. This option is convenient but carries a security risk of leaving your crypto in another party's possession.

  2. Cold Wallet: A hardware device that stores your crypto offline, providing the highest level of security. This option is recommended for storing the bulk of your crypto holdings.

  3. Hot Wallet: An application that stores your crypto online, offering convenience and ease of use. This option is suitable for smaller amounts of crypto that you want available for trading.

  1. Physical (Paper) Wallet: A physical storage of private crypto keys, which is a free way to store crypto offline. However, it can be inconvenient and carries the risk of losing the wallet.

  2. BLOCX Wallet: A dedicated wallet app built on the Proof-of-Work (POW) algorithm, providing a secure and user-friendly platform for managing your BLOCX coins. It is available on both Android and iOS devices and offers features such as secure storage, sending and receiving, and multi-platform compatibility.

Regardless of the storage method you choose, it is essential to follow best practices for storing cryptocurrencies safely, such as recording recovery phrases, keeping them in a secure location, and never sharing them with anyone.

How to buy BLOCX.?

To buy BLOCX (BLOCX) tokens, follow these steps:

  1. Choose a Reliable Exchange: Find a reliable centralized exchange where BLOCX is listed, such as MEXC or KuCoin. You can refer to Coinmarketcap.com's Markets section to find the list of exchanges that support BLOCX.

  2. Create an Account: Open an account on the chosen exchange and complete the Know-Your-Customer (KYC) verification process to ensure secure transactions.

  3. Fund Your Account: Deposit funds into your exchange account using a supported payment method, such as credit cards, bank transfers, or other cryptocurrencies.

  1. Buy BLOCX: Use the deposited funds to purchase BLOCX tokens. You can do this directly on the exchange's spot market or through peer-to-peer services.

  2. Store Your Tokens: For long-term storage, consider using a cold wallet, such as a paper wallet or a hardware wallet, to keep your BLOCX tokens secure.

Remember to carefully study the crypto information and associated risks before investing in BLOCX.

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History of BLOCX.

BLOCX, a Layer 1 blockchain technology, was publicly introduced on July 20, 2023, as a proof-of-work cryptocurrency built on the X11 algorithm. It is designed to provide a comprehensive suite of integrated features and services, empowering individuals and businesses to navigate the digital age with confidence and security. The native BLOCX Coin fuels this ecosystem, which includes various tools such as malware protection, cloud services, internet security, driver scanning and updates, password vault, remote access, system optimization, and a secured wallet for managing digital assets.

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How BLOCX. works

BLOCX is a Layer 1 blockchain technology designed to provide speed, low gas fees, and security. It operates on a two-tier network, combining traditional Proof of Work (PoW) rewards for mining with additional rewards for running and maintaining special servers called masternodes. These masternodes play a crucial role in facilitating advanced features such as CoinJoin and InstantSend.

CoinJoin

CoinJoin is a privacy-enhancing feature that allows users to shuffle their BLOCX with other users, ensuring consumer-grade financial privacy. The process involves breaking down transaction inputs into standard denominations and then combining them with inputs from at least two other users in a single transaction. This is done through masternodes, which coordinate the process without knowing the identities of the users involved. The user can choose the number of rounds, with each round further improving privacy. This feature ensures that users retain control of their funds at all times.

InstantSend

InstantSend is a technology that enables fast transaction confirmation times, comparable to those of credit cards. It achieves this by leveraging the masternode network to form voting quorums that validate transactions. Once a transaction is deemed valid, the masternodes "lock" the inputs and broadcast this information to the network, ensuring that the transaction will be included in subsequent blocks. This process eliminates the need for centralized authority and allows for rapid transaction confirmation.

Masternodes

Masternodes are special servers that are incentivized to participate in the network by receiving a percentage of the block reward. They are responsible for facilitating CoinJoin and InstantSend transactions, ensuring the smooth operation of these advanced features.

Blockchain Structure

BLOCX, like other blockchain technologies, is built around the concept of blocks. Each block is a file that permanently records cryptocurrency transaction data and is linked to the preceding block through cryptographic means. The verification and confirmation of blocks by the network are crucial before new blocks can be added. The blockchain structure ensures that transactions are secure, irreversible, and transparent.

Overall, BLOCX combines innovative features with a robust blockchain structure to provide a secure, fast, and private cryptocurrency experience.

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BLOCX.'s strengths

The token BLOCX. (BLOCX) has several strengths that contribute to its potential as a cryptocurrency investment.

Security Features

BLOCX. prioritizes safety and security for its users by leveraging advanced cryptography to secure all data stored on the blockchain, including user data. It also implements formal verification techniques to ensure that the platform is free of vulnerabilities and that smart contracts are secure, preventing hacks and other security breaches.

Performance and Scalability

As a layer 1 blockchain platform, BLOCX. is designed to provide high-performance, secure, and scalable architecture. It uses a Secure Proof of Stake (SPoS) consensus mechanism, which enables fast transaction processing while maintaining robust security. This approach allows for efficient and secure transactions, making it suitable for a wide range of applications.

Comprehensive Suite of Features

BLOCX. offers a comprehensive suite of integrated features and services, including malware protection, cloud services, internet security, driver scanning and updates, password vault, remote access, system optimization, and a secured wallet. This suite empowers individuals and businesses to navigate the digital age with confidence and security.

Accessibility and Ease of Use

BLOCX. aims to provide a platform that is accessible, affordable, and easy to use, which can help drive the adoption and growth of blockchain technology. By offering a user-friendly solution for managing digital assets and streamlining cryptocurrency management, it simplifies the experience for users.

Decentralization and Energy Efficiency

BLOCX. uses a Proof of Stake (PoS) consensus mechanism, which ensures that the network is secured by a diverse set of validators without relying on energy-intensive mining. This approach promotes decentralization and reduces the environmental impact associated with traditional mining methods.

These strengths position BLOCX. as a robust and versatile cryptocurrency with a focus on security, performance, and user experience.

BLOCX.'s risks

BLOCX, a cryptocurrency project, is exposed to various financial risks. These risks can be broadly categorized into several types:

Market Risk

Market risk is associated with the volatility in the cryptocurrency's price. This risk cannot be diversified away and is influenced by market-wide factors. The idiosyncratic risk component is specific to BLOCX and can be mitigated through diversification.

Credit Risk

Credit risk arises from the possibility that counterparties may not fulfill their contractual obligations. This risk is particularly relevant for BLOCX if it engages in lending or borrowing activities within the cryptocurrency ecosystem.

Liquidity Risk

Liquidity risk is the inability to execute transactions at prevailing market prices. This risk can be further divided into funding liquidity risk (difficulty in raising funds to meet obligations) and market liquidity risk (difficulty in liquidating assets quickly).

Operational Risk

Operational risk stems from weaknesses in management, controls, and systems. This includes human error, technology failures, and inadequate processes. BLOCX is vulnerable to these risks, particularly if it relies on complex systems and manual interventions.

Currency Risk

Currency risk is inherent in the volatile nature of cryptocurrencies. BLOCX's value can fluctuate significantly due to changes in the underlying currency and derivative assets.

Governance Risk

Governance risk is critical in decentralized finance (DeFi) platforms like BLOCX. Governance decisions, such as parameter tweaks and updates, can significantly impact the platform's stability and security.

Oracle Risk

Oracle risk arises from the reliance on external data sources for transactions and contracts. Oracles can be targeted for manipulation, leading to catastrophic outcomes.

Cooperative Risk

Cooperative risk is associated with the lender-borrower relationship and the valuation and liquidation of collateral. Improper collateral valuation and liquidation can lead to significant risks and opportunities.

Regulatory Risk

Regulatory risk is a concern for BLOCX as it operates in a rapidly evolving regulatory environment. Changes in laws and regulations can impact the platform's operations and profitability.

Security Contract Risk

Security contract risk is specific to DeFi platforms like BLOCX, where the security and value of the platform depend on the quality of its smart contract code and the team behind it.

Environmental Risk

Environmental risk is associated with the significant energy consumption required for cryptocurrency mining, which can have substantial environmental implications.

These financial risks are critical for investors to understand and mitigate when considering investment in BLOCX.

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Did BLOCX. raise funds?

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BLOCX.’s team

  • The team behind BLOCX includes Eli, Lux, Art4U, Gabe Pudan, Mas Budi, RJK, Jonathan, and Kyle Tor.

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