What Is Blox?
This blog post will cover:
- What is Blox (CDT)?
- Where did Blox (CDT) come from?
- What are the advantages of Blox (CDT)?
- What are the disadvantages of Blox (CDT)?
- How to exchange crypto on SimpleSwap?
What is Blox (CDT)?
Blox is a portfolio tracking application that helps to combine your crypto accounts into one account for analytics.The main goal of Blox is to show users full information about their current cryptocurrency assets, in order to increase the efficiency of working with them. Companies and developers can use the robust and scalable Blox API. With this API, it’s possible to efficiently fetch and analyze blockchain data. Users can also automatically synchronize wallets and exchanges, check the complete transaction history, and get access to many additional features.CDT (previously CoinDash) is a Blox platform token. The token is created to access Blox features and capabilities. It also provides a discount system for enterprises.Those who own CDT and commit it for staking can receive up to 75% discounts.The CoinDash token name has been changed to Blox. This is a trademark created by developers to stimulate the development of the project in a rapidly growing cryptocurrency market. The new interface has become more simple and intuitive, focused on a wide range of users. The ticker name is still CDT, so it does not mislead users.Developers say that Blox is an example of a new generation project designed to track assets and their movements.
Where did Blox (CDT) come from?
The project was developed in 2016. ICO with a hard cap of $12 million was launched on July 17, 2017. This amount allowed to enter the market and begin the consolidation process among users. Blox CEOs are Alon Muroch and Adam Efrima. Alon Muroch co-founded Bitcoin Authenticator in 2014 and led the development of iOS at PayKey's p2p (peer-to-peer) payment solutions. Co-founder Adam Efrim also has an impressive resume. He was director of operations for the eToro's social investment network and investment director for Citic Group before creating the Blox platform.Blox.io is headquartered in Tel Aviv and has offices in Shanghai, San Francisco, and Gibraltar. The company has thousands of crypto tracking, management and accounting solutions for professionals businesses and enterprises. Customers of the platform are represented by industry giants such as eToro, Zilliqa, 0X, and thousands of global users. During the ICO phase, CoinDash (Blox) was hacked by a fraudster who changed the project’s investment address to a personal address. The hacker stole about 37,000 ETH - at that time they were estimated at about $10 million. Blox closed the token sale 13 minutes after it started. In 2018, the hacker returned 20,000 ETH which estimated value at the time of the return was more than $17 million.The hack that Blox experienced was called "an event that caused harm to both investors and the company". But in the end, this event provoked a significant increase in project capital.
What are the advantages of Blox (CDT)?
- Crypto Accounting & ReportingAccess to automated and accurate crypto accounting tools used by industry giants for reporting, tax and more. A toolbox full of features for investors, HODLers, and enterprise.
- SecurityThe Blox platform provides read-only access to keep digital assets secure. This one way window into your crypto gives you a safe view into your assets.
- Powerful APIThe Blox API is one of the most advanced in the industry, instantly connecting businesses to various blockchains to fetch, filter and analyze cryptocurrency data.
- Token StakingBlox users that opt to stake their native coin gain access to additional features and extras while receiving up to 50% in discounts.
What are the disadvantages of Blox (CDT)?
- CompetitivenessThere is a number of projects in the field of crypto asset management, including Melonport, ICONOMI, and Santiment. Each of these projects is different, and BLOX is actually going to integrate with Melonport and ICONOMI. However, there is still some coincidence between them, and users may prefer other platforms instead of BLOX.
- The purpose of the projectThe success of this project depends on the future investment in cryptocurrency in general. If the demand for cryptocurrency decreases, the project will become less interesting for users.
How to exchange crypto on SimpleSwap?
If you loved this article and want to learn more about crypto, stay tuned for more posts about crypto assets. And if you're willing to buy some coins, make sure to follow this simple guide below:
- For example, you want to swap BTC to ETH. Select the currency you want to exchange (e.g. BTC) in the first drop-down list. Then enter the amount you want to swap.
- Select ETH in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
- Click the Exchange button.
- Enter the Recipient's Address. ETH will be sent there. Be careful and make sure you use the correct address.
- Create the exchange.
- You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to ETH exchange.
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.