Blocknet (BLOCK): how it works, supply and reviews
In short
- Type
- Proof-of-stake blockchain with the utility token BLOCK.
- Maximum supply
- No maximum supply; minting per period is limited.
- Risks and caveats
- No company or foundation stands behind Blocknet, so there is no legal entity accountable for the software.
- Checked
- 1 November 2026
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Key facts
- Ticker
- BLOCK
- Official site
- blocknet.org
Key facts checked on 1 November 2026 against official sources.
What is Blocknet
Blocknet is a proof-of-stake blockchain and interoperability protocol whose BLOCK token pays for cross-chain services. Its components XBridge (atomic-swap exchange layer), XRouter and XCloud are run by Service Nodes; Block DX is a decentralized exchange built on it.
Network and consensus
| Parameter | Details |
|---|---|
| Type | Proof-of-stake blockchain with the utility token BLOCK. |
| Consensus | Proof of stake; 1 BLOCK is created every minute and awarded to stakers. |
| Launched | Blocknet was created on 20 October 2014. |
| Smart contracts | XBridge is a cross-chain atomic-swap exchange layer; XRouter and XCloud provide cross-chain queries and oracles. |
| Block time | Block height 4,844,654 was produced on 1 November 2026, 01:27 UTC. |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | No maximum supply; minting per period is limited. |
| Issuance | Superblocks can mint up to 40,000 BLOCK for funded proposals, in addition to block rewards. |
| Initial distribution | An initial trade offering ran on Bittrex from 29 October to 5 November 2014; 3,876,915.43 BLOCK were sold. |
What BLOCK is used for
- Fees for network services (XBridge, XRouter, XCloud) are paid in BLOCK and go to Service Nodes.
- Transaction fees and block rewards go to stakers.
- BLOCK is collateral for running a Service Node.
- Submitting a governance proposal requires a fee in BLOCK; only Service Nodes vote.
Who develops and governs Blocknet
- Governance
- No company or foundation; stakeholders govern through a Superblock mechanism.
- Governance
- Self-governance runs through Superblocks and community discussion on Discord.
- Open source
- Core wallet code on GitHub (blocknetdx/blocknet), repository created 20 July 2017.
- Developer
- Latest Blocknet Core release: v4.4.1, published 25 October 2023.
History
| Date | Event |
|---|---|
| 20 October 2014 | Blocknet was created. |
| 29 October 2014 | An initial trade offering of BLOCK was held on Bittrex until 5 November 2014. |
| 20 July 2017 | The current core wallet repository was created on GitHub. |
| 25 October 2023 | Blocknet Core v4.4.1 was released. |
| 1 November 2026 | The chain was still producing blocks (height 4,844,654). |
Security incidents
No security incident is recorded in the sources checked on 1 November 2026 (the company’s own channels and incident databases): defillama.com/hacks, hacked.slowmist.io/search, rekt.news/leaderboard, github.com/blocknetdx/blocknet/releases, medium.com/blocknet, blocknet.org
Risks and caveats
- No company or foundation stands behind Blocknet, so there is no legal entity accountable for the software.
- BLOCK has no maximum supply; new coins are minted every minute and Superblocks can mint more.
- The latest core release dates from October 2023.
Official links
- Website: blocknet.org
- Docs: docs.blocknet.org
- Whitepaper: blocknet.org/whitepaper/Blocknet_Whitepaper.pdf
- Source code: github.com/blocknetdx/blocknet
- Block explorer: chainz.cryptoid.info/block
Questions and answers
What is Blocknet?
A proof-of-stake blockchain and interoperability protocol; its BLOCK token pays for cross-chain services such as XBridge atomic swaps.
Who runs Blocknet?
Blocknet says there is no company or foundation behind it; stakeholders govern through Superblock votes by Service Nodes.
What is the maximum supply of BLOCK?
There is no maximum supply; 1 BLOCK is minted every minute for stakers, and Superblocks can mint up to 40,000 BLOCK.
When did Blocknet launch?
Blocknet was created on 20 October 2014, followed by an initial trade offering on Bittrex.
Sources
- Blocknet - Home
- Blocknet Docs - Home
- Blocknet Docs - Project introduction
- Blocknet Docs - BLOCK specs
- GitHub - blocknetdx/blocknet
- GitHub - Blocknet Core v4.4.1
- Blocknet explorer (chainz, linked from blocknet.org) - block 4844654
- Blocknet explorer (chainz)
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