What is Blockpool (BPL) Crypto Beginner’s Guide
Blockpool is a platform that provides outstanding blockchain technology solutions. It offers consulting services and several payment models. Customers can choose from a plug-in payment application or a license-based contract. There’s also a transaction-fee-based payment model. Blockpool’s blockchain API is open source, which allows the development of private blockchains. Here’s a list of things that can be done with this system:
- Create cryptocurrencies
- Track written contracts
- Track licenses, copyright, and collections for various IP (music, writings, etc.)
- Provide provenance for art, antiques, and limited editions
- Provide provenance for ingredients and sources
- Improve decentralized applications
Delegated Proof-of-Stake Consensus for Blockpool
Blockpool’s blockchain relies on a Delegated Proof-of-Stake mechanism. This allows for the development of side chains for each client. These side chains are private. They are connected to a Masterchain. This is an ideal arrangement for organizations that require cross communications between various departments. Blockpool also employs Delegate Management Software, which keeps the network running efficiently. Administrators can monitor network status, add new nodes, and run cross-chain operations. The goal is to maximize efficiency and return-on-investment.
The Blockchain Infrastructure of Blockpool
One of the advantages of blockchain technology is scattered permissioned and un-permissioned databases. This is more secure than other types of databases. This type of database reduces paper records as well.
There are 210 delegates. The block time is 15 seconds. 25 million tokens were created. Additional tokens are mined at a rate of 5% annually. This rate decreases by 1% each year, until the rate reaches 1%. A fixed block reward is implemented at this point – 0.1 BPL tokens per block.
Trading Blockpool BPL Tokens
BPL tokens are traded on a few exchanges including Cryptopia and COSS. BPL tokens are paired with BTC and ETH tokens. BPL has a market capitalization of 1.17 million USD. Daily trading volume is about 84 USD. 22.3 million BPL tokens are in circulation. A total of 25.3 million BPL tokens are available.
In January 2018, Blockpool’s value reached an all time high of 19.7 million USD (market capitalization). It has since declined to 1.1 million USD. During the first week of May 2018, there was signs that the token would recover. Its value increased to 7 million USD before declining once again. It’s unlikely that this token will gain value again.
Blockpool has several plugins including communication plugins, blockchain plugins, and file storage plugins. The communication plugins provide intersystem communications. One of the benefits of this is sharing of datasets. This increases the rate of business transactions. The blockchain plugins are bApps. They connect to communications plugins. The file storage plugins takes advantage of the Interplanetary File System protocol. It connects to the bApp to store data within the blockchain. It encrypts data as well.