[Crypto projects](https://revain.org/projects/) › Blocknet

# 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

## Key facts

- **Ticker**: BLOCK
- **Official site**: [blocknet.org](https://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](https://defillama.com/hacks), [hacked.slowmist.io/search](https://hacked.slowmist.io/search/), [rekt.news/leaderboard](https://rekt.news/leaderboard/), [github.com/blocknetdx/blocknet/releases](https://github.com/blocknetdx/blocknet/releases), [medium.com/blocknet](https://medium.com/blocknet), [blocknet.org](https://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](https://blocknet.org/)
- Docs: [docs.blocknet.org](https://docs.blocknet.org/)
- Whitepaper: [blocknet.org/whitepaper/Blocknet_Whitepaper.pdf](https://blocknet.org/whitepaper/Blocknet_Whitepaper.pdf)
- Source code: [github.com/blocknetdx/blocknet](https://github.com/blocknetdx/blocknet)
- Block explorer: [chainz.cryptoid.info/block](https://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](https://blocknet.org/)
- [Blocknet Docs - Home](https://docs.blocknet.org/)
- [Blocknet Docs - Project introduction](https://docs.blocknet.org/project/introduction/)
- [Blocknet Docs - BLOCK specs](https://docs.blocknet.org/blockchain/introduction/)
- [GitHub - blocknetdx/blocknet](https://github.com/blocknetdx/blocknet)
- [GitHub - Blocknet Core v4.4.1](https://github.com/blocknetdx/blocknet/releases/tag/v4.4.1)
- [Blocknet explorer (chainz, linked from blocknet.org) - block 4844654](https://chainz.cryptoid.info/block/block.dws?4844654.htm)
- [Blocknet explorer (chainz)](https://chainz.cryptoid.info/block/)

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Page updated: 2026-11-01

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Source: https://revain.org/projects/blocknet/