The Blocknet is infrastructure for the coming “inter-blockchain era,” an emerging technology epoch characterized primarily by the superseding of the current API ecosystem with a decentralized and intrinsically monetized “token ecosystem.” This will occur when its enabling technologies (specifically, smart contracts and “dapps”) mature to the point of possessing practical inter-blockchain interoperability. At the time of writing, the Blocknet is the technological leader in the provision of inter-chain infrastructure for use by dapps and smart contracts. We believe that the emergence of the inter-blockchain era will have disruptive implications for two sectors, that of software-as-a-service, and practical blockchain usability. From the perspective of software-as-a-service (SaaS), the token ecosystem embodies two fundamental advancements: (a) the comparatively frictionless monetization of digital services, and (b) the leveraging of the unique robustness, decentralization, and security properties of blockchain technology. From the perspective of blockchain technology, if blockchains are to achieve their true potential, then broad, generic interoperability between blockchain services is required. Without inter-chain interoperability, blockchain-based services will (a) either deliver services only within the confines of the limited customer base that runs its nodes, or sacrifice the unique security properties of blockchains in delivering to centralized entities, and (b) face enduring problems with chain bloat and, relatedly, the market-related pressure to build further features onto a single chain. By creating an “internet of blockchains,” the Blocknet is positioned to enable the frictionless monetization of APIs, and in doing so, to empower blockchain technology by converting its thousands of isolated chains into a token ecosystem.
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