BLOCKv wants to be the foundation of the virtual goods economy. Find out how the platform works today in our review.
What Is BLOCKv?
BLOCKv, found online at BLOCKv.io, is a shared protocol for the blockchain developer stack. The company aims to position itself as the foundation of the virtual goods economy.
BLOCKv’s official website claims that it “represents the interface moment in the maturation of the blockchain sector” by providing developers “with the building blocks to design the experiential economy of the future and unlock new revenue generating opportunities for businesses within this growing ecosystem.”
In more basic terms, the BLOCKv plans to build a platform where developers can create smart digital objects on blockchains, then transact those objects in a seamless way. The prototype for BLOCKv was first demoed on the bitcoin blockchain, but the technology can be built on top of all major blockchains – including Ethereum and others.
Those “smart objects” are called Virtual Atoms – or vAtoms. They’re a combination of code and multimedia elements. The objects are dynamic. They compel “digital goods that make a cryptocurrency [to] come alive as an asset for developers, brands and end users.”
vAtoms could include any type of digital good, from in-game goods to digital cards to the art we collect. It could include digital books and music, or any items we exchange on social networks.
Overall, BLOCKv wants to “exponentially increase the value that you get from the digital world.”
Virtual Atom Features
Here are some of the features of BLOCKv’s Virtual Atoms, or vAtoms, which are the smart objects residing on the blockchain:
- Artificial intelligence
- Network aware
Ultimately, the objects are designed to be customizable and adaptable to a number of different purposes. They’re smart objects that can play a variety of roles. They’re designed to bring a new layer of interactivity to cryptocurrencies.
How Does BLOCKv Work?
How does BLOCKv’s platform handle smart objects with the features we mentioned above? Here are some of the key characteristics of BLOCKv’s technology stack and how it works:
- SDKs & APIs: These will act as an open engine on all platforms for interacting and viewing vAtoms.
- Nucleus: The nucleus contains the core components “that bring vAtoms to life”. These components include notifications and real-time event listeners.
- Bitcoin, Ethereum, EOS, and Others: BLOCKv can be built on these blockchains and other popular platforms.
- Marketplace and Exchange: On this layer of the BLOCKv technology stack, users can buy, sell, and trade vAtoms.
- Registry: The registry contains information about vAtoms creation, organization, and management.
- Blockchain Abstraction Layer: Enables seamless integration into blockchains.
The BLOCKv Token Sale
BLOCKv is seeking to raise $20 million (soft cap) or $40 million (hard cap) during its token sale.
The company is selling an ERC20-compliant token built on the Ethereum blockchain. 15% of tokens will be locked for long-term development. 25% of tokens will be reserved to incentivize the development community. 25% will go to the founder and development team as well as early contributors and advisors, and 35% will be allocated to launch contributors (the crowdsale).
The tokens are called “Vee” or “V”. They’re smart contract tokens that work as an integral part of the BLOCKv ecosystem. BLOCKv and each of the modules within the BLOCKv platform require V to fuse the ecosystem together and provide a mechanism for rewards and collaboration.
All key stakeholders on the BLOCKv platform will use V. Any operation on the platform is powered by V. Developers will be incentivized with V to experiment with revolutionary technology. And creators will be rewarded with V whenever anyone uses their innovations.
The pre-sale for V tokens starts on September 18, with the public crowdsale scheduled for October 12 to October 16. The tokens will be distributed no later than November 16.
Who’s Behind BLOCKv?
BLOCKv is led by CEO Reeve Collins, a long-time pioneer in the bitcoin and blockchain space and co-founder/CEO of Tether. Other key members of the team include Gunther Thiel (CTO), Lukas Fluri (COO), and Craig Sellars (Blockchain Architect).
The team began developing the BLOCKv platform in Q1 2016. By Q3 2016, the first vAtom smart object demos were launched on the bitcoin blockchain, along with an iOS app for demonstration purposes.
The public launch of BLOCKv v1 is scheduled for Q1 2018.
BLOCKv aims to be the foundation of the virtual goods economy. Virtual goods include anything we can transact over the internet as a smart contract on the blockchain. It could include things like videos and books, or it could be in-game goods, e-gift cards, and other objects.
BLOCKv enables the rapid development and distribution of interactive smart objects called vAtoms. These objects can make a cryptocurrency “come alive” by merging code with multimedia elements. The end result is an object with the efficient transactions of cryptocurrency combined with the widespread adoption of consumer engagement.
You can learn more about BLOCKv by visiting the company online today at BLOCKv.io.