LBank AMA Recap with $BXN
On April 26 , we held an AMA with the $BXN team, hosted on LBank official telegram channel. If you guys had missed this session, here’s another chance to get a full transcript of the AMA event.
INTRODUCTION : BX BX:
So today we are here as the CEO and the CIO from Blackfort
We will bring your information on what BlackFort is
I am Stefan, one of two founders of Blackfort and the CEO
We are young project on the open market, but we have been preparing for this for the past four years
Coming from the field of cryptocurrency mining as well as backend and block chain development I have put together a team that has been working on Wallet solutions and block chain products for the past years
We started out simply by building our own multicurrency client side wallet application for smart phones
Then later moved on to releasing our own layer1 block chain that we will write about shortly
My journey into the cryptocurrency industry began over ten years ago while I was a university student, where my curiosity led me to explore Bitcoin mining. This initial exposure sparked a deeper interest, prompting me to expand my knowledge in cryptocurrency mining and establish myself as an expert in this field. Before founding BlackFort Group of companies, I dedicated myself to building a diverse skill set in IT, focusing on backend development, blockchain technology, and web applications. I also provided software services and consulting in the Distributed Ledger Technology (DLT) sector, gaining valuable experience and insights. This foundation allowed me to co-found and lead BlackFort Group, where I have been instrumental in developing a comprehensive Crypto-Fiat economy. Our work is centered around utilizing our BXN Blockchain to advance the BlackFort Vision, aiming to leave a significant and positive footprint in the industry.
Mario U.:
here are some words about myself:
My name is Mario Urschitz, 42 years old, originally from Austria. I have been in the crypto industry for more than 10 years now. In 2015 if founded the largest crypto education platform in europe. Later on i founded a crypto exchange specializing in security tokens. Since January 2023 i am the newest C Level member of BlackFort with the role of CIO. In the company i am mainly responsible for tokenization of real world assets on blockchain.
Question 1 : What is the BlackFort Exchange Network?
Guest Answer : BX BX:
The BlackFort Exchange Network BXN Blockchain is a foundational component of the BlackFort ecosystem, designed to democratize access to blockchain technology. It aims to simplify the complex barriers typically associated with blockchain participation, especially in the roles of production and validation.
By lowering technical entry points, creating a Blockchain validator system thats designed to decentralise greatly, the network ensures that the benefits of blockchain are not monopolized by a select few but are distributed across a broad network of participants. This approach to decentralization is essential to unlocking the true democratizing potential of blockchain technology, allowing each participant the opportunity to contribute to and benefit from the network.
The BlackFort Exchange Network is built on an EVM Core, ensuring interoperability with other prominent smart chains, which allows for seamless cross-chain interactions. It’s engineered to stand independently in the market, focusing on bridging the gap between digital assets and real-world applications.
This is where we are finding adoption and starting partnerships
By integrating these, the BlackFort Exchange Network positions itself as not just a facilitator of cryptocurrency transactions but as a “ready” player in integrating blockchain technology into mainstream business practices.
We have just gone to public market, including on LBank which were very happy about!
BlackFort Blockchain Data:
Average Block Time: 5 seconds. This indicates that a new block is added to the blockchain approximately every 5 seconds, which is relatively fast compared to some other blockchains, suggesting a high throughput.
Total Transactions: 1,422,144. This is the total number of transactions processed by the blockchain to date.
Question 2 : Can you tell us a little bit about the BlackFort Layer 1 Blockchain?
Guest Answer: BX BX:
BlackFort stands at the forefront of blockchain innovation as a Layer 1 EVM Core Blockchain, distinguished by our unique POSA (Proof of Stake Authority) consensus algorithm.
This proprietary technology underscores our strategic commitment to creating and providing groundbreaking products and services to our community. The central pillar of this strategy is our native Layer 1 Token, BXN, which has been designed to offer substantial utility and foster widespread adoption.
Our blockchain has shown significant activity with nearly 1.5 million transactions and over 7.5 million blocks successfully produced, indicating a vibrant and growing ecosystem. With 130,000 active wallet addresses, the engagement on our platform is clear. Anyone interested in our blockchain’s performance and the real-time statistics can freely explore these details on our dedicated explorer at
https://explorer.blackfort.network.
In a bid to guarantee transaction validation and enhance network security, we’ve introduced a novel approach through the sale of delegator NFT token bundles. These play a pivotal role in our POSA Validation system, which we’ve aptly named ‘Node NFT.’ Remarkably, about 135,000 delegator nodes have been snapped up by members of our community, contributing to the resilience of our network. These active nodes are part of a finite set, capped at 304,000, to ensure exclusivity and value.
We’ve consciously lowered the technical barriers to entry for becoming a delegator, upholding the principle of decentralization. It’s crucial for us that blockchain production and validation are not concentrated among a few but are accessible to a broader audience, preserving the democratizing essence of blockchain technology.
BlackFort has launched a proprietary client-side, multi-currency wallet, which has already seen over 270,000 downloads, signifying the trust and enthusiasm of our users.
Apple AppStore | Google Play
Follow @BlackFortWallet
These concerted efforts are how BlackFort continually enhances our blockchain infrastructure, drives community participation, and strengthens the ecosystem surrounding BXN, setting the stage for a dynamic and integrated Crypto-Fiat economy.”
Question 3 : What are the main utilities of the BXN Layer 1 Token?
Guest Answer :
Mario U.:
In the dynamic world of cryptocurrency, the true value of a token often hinges on its practical utility. BlackFort has consistently prioritized cultivating substantial utility for our native Layer 1 Token, BXN, right from the outset. Our commitment to utility ensured that even before BXN’s debut on major exchanges, it was already equipped with a suite of functionalities, and we are poised to expand this utility spectrum in the near future.
On the onchain front, BXN stands as a cornerstone for transactional processes within our network. It is utilized to pay for transaction fees and for interactions with smart contracts, ensuring smooth, seamless operations across our blockchain.
For offchain utility, holding or using BXN opens the door to a range of benefits on BlackFort platforms. Our users can enjoy perks such as cashbacks, access to exclusive airdrops, and whitelistings for upcoming features and offerings. Many of these benefits have already been activated and are being utilized by a growing number of users, evidencing the tangible advantages that come with BXN.
This two-pronged approach to utility — spanning both onchain and offchain applications — ensures that BXN is not merely a token with speculative value but a key that unlocks a diverse array of services and rewards within the BlackFort ecosystem.
For now we have 3 major utilities for BXN:
1. BlackFort Wallet Utility: For holding a certain percentage of your portfolio in BXN on our BlackFort Wallet, you will receive cashback for each crypto purchase or sale, as well as each swap done on our wallet. Other benefits like airdrops, whitelists as well as others are also included when holding BXN.
2. Blackfortpay Utilitiy:
Blackfort will soon launch ist MVP version of blackfortpay.com, which will allow european customers to have an online bank account with a dedicated Debit Card and e-money services. Crypto Swaps will also be available. For holding BXN on your blackfortpay account you will receive lots of benefits like lower transaction fees, lower account management fees, cashback and more.
So all european customers interested in an online bank account as well as a debit card with cryptos swap functions, go ahead and sign up for the newsletter right now.
3. BlackFort Real Estate Utility: In the upcoming weeks, BlackFort will launch its very first tokenization of real estate on the BlackFort Blockchain. Over the last year, BlackFort has set up a fully regulated framework with licences to buy and sell real estate, manage real estate, issue asset backed utility token and operate a platform dedicated to the tokenization of assets. In the near future it will be possible to buy tokenized real estate directly with our Layer 1 Token BXN for a discount.
More utility will follow soon….
Question 4: Can you tell us more about Blackforts RWA (real world asset) project?
Guest Answer : Mario U.:
we believe that real world assets on blockchain is the future. thats why we setup a regulatory framework that allows us to buy and sell real estate, manage real estate, issue asset backed utility tokens and provide a platform.
our first proof of concept tokenization is in the final stage and the first apartment will be offered to our community soon
In the future, we will make BlackFort the go to platform when it comes to tokenized real estate
BX BX:
For this we have real estate licensing to buy, hold, sell, manage. for a part of this business we have a financial license within the group of companies, and were AML compliant throughout the process.
all projects mentioned here are fully financed already
Mario U.:
With our approach we are the very first in the world, since we have everything thats needed inhouse, and dont have to rely on any third parties.
Community Questions :
Question: Do you have audit certificate?
or
Are you working on auditing your project, so that project security is more secure and reliable?
Telegram Username: @Akca453No
Guest Answer : yes. very good question. we are working together with Certik, one of the leading auditor companies. Here is the Link to our Audit (please note that “governance”will be activated soon and boost our total score.
https://skynet.certik.com/projects/blackfort-exchange-network.
Question 2 : IMPORTANT QUESTION, on which network can I get your token?
1) BSC chain
2) Tron
3) Ethereum
4) Polygon
Or any other network, can you tell us?
Telegram Username : @jabboo269074
Guest Answer : We have our own Layer1 EVM Core blockchain
Whitepaper here
https://storage.googleapis.com/skydelis-static/whitepaper.pdf
Question 3 : Staking program is very important for any project, Can i stake your $BXN token? Do you have any plan of starting staking program?
Telegram Username: @Kabinazrul
Guest Answer : Yes you can stake it on LBank!!
Question 4 : How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working in crypto and non-crypto project?
Telegram Username :@sunny74s
Guest Answer: Great question. We are now a team of 36 people, 26 of them full time developers. Our C Level has years of experience in the crypto and blockchain industry. You can find an overview of our c levels and their linkedin profile on our website www.blackfort.exchange
Question 5 : Do you have any plans to burn $BXN tokens in the future to reduce the supply of $BXN tokens and increase investment attraction? If yes, please share?
Telegram Username: Beiman Part
Guest Answer : Not burning at the moment, but in the future.
We have something else announcing shortly on X and that the delegation and validation system of BXN to decentralise POSA in our validator system.
Blackfort will Lock away over 400.000.000 BXN on this day
Question 6 : Do you have any plans to attract non-crypto investors to join your project? What are the plans to raise awareness about your project in the non-crypto space.?
Telegram username : @lusifaru
Guest Answer : yes, absolutely. thats why we are focusing on bringing Real World Assets (RWA) to our blockchain, to attract also people that are not involved in the crypto space yet.
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