The Blocknet price is currently $ 1.02 with a 24-hour trading volume of $ 4,856.53 across 4 exchanges. The BLOCK price is down -0.70% in the last 24 hours. Blocknet reached its highest price on January 8, 2018, when it was trading at its all-time high of $ 58.77. It has a circulating supply of 7.12M BLOCK.

Blocknet is an interoperability protocol designed to connect between nodes on different blockchains. The problem that the team behind Blocknet are addressing is a means of allowing different blockchains to communicate. Due to the complexity of popular blockchains, they can become extremely large and too bloated to be run efficiently on a single chain. With Blocknet, a large blockchain can be split in smaller ones.

The data can be stored on different blockchains which allows it to be discarded, archived or replaced without having an effect on the rest of the data. BLOCK is the token that is used to pay a fee to the Blocknet protocol for providing the infrastructure that makes cross-blockchain services possible. This fee is then distributed to the holders of the token.