4
 min read

BlockX update — March 25th 2022 — Mainnet, Staking, Listing, AMA

Adding $BCX to Metamask, Connecting to BlockX Tesnet and the timelines for 2022

blockx network blockchain

At BlockX we are developing the next generation of blockchain network purpose-built for NFTs, Metaverse and DeFi. It is the strongest candidate for alternatives to chains such as Ethereum, Solana and Avalanche with the lowest gas fees in the industry, under 2 seconds transactions and high TPS up to 100,000. The key features of the blockchain are

  1. Multi Chain settlement
  2. Digital ID for dapps that require it
  3. Native oracle for off-chain Data
  4. Sub-chains framework for projects to create their own blockchain on ours
Here are a few updates on the project
  1. Test the Test Network Beta 0.3 — Now available

We have an initial internal test network. Here is how you can connect to the Testnet.

In order to test the network, you will need tokens for the Testnet that you can collect from the Faucet. These tokens are just for testing on the network and will not be carried over to the Mainnet. For feedback on the chain, please message us at https://www.blockxnet.com/contact

The first thing that you have to do is to add the BlockX network to your Metamask

a) Click the upper corner of your Metamask then go to Settings

b) Click on the Networks tab on the left then click on the Add a Network button.

c) Enter the following details below:

- Network Name: BlockX

- RPC URL: https://testnet-2.blockxnet.com

- Chain ID: 12345

- Currency Symbol: BCX

Then hit Save button then it will show BlockX in your Metamask.

A faucet will be created for you to be able to get small amounts of BCX for testing purposes. We will announce this on the 30th of March. Do you know what you can do with your test BCX tokens? You can send it to others just like how you send BNB or ETH and since it is an EVM-based chain, the address is the same as your existing ETH or BNB wallet in your Metamask. And since it is an EVM-based chain, you can use it to deploy Smart Contracts too like having your own token within the BlockX network.

In order for us to be able to deploy a smart contract with the help of Metamask, we’ll use Remix (http://remix.ethereum.org/).

Below are the steps in creating a smart contract via Remix.

a)  Click on the New file icon then name it whatever you want. For this example, I named it Token. sol

The code that we will use to create a token is this one below, you can copy it for your convenience.

pragma solidity ^0.8.2;

import “@openzeppelin/contracts/token/ERC20/ERC20.sol”;

import “@openzeppelin/contracts/token/ERC20/extensions/ERC20Burnable.sol”;

import “@openzeppelin/contracts/access/Ownable.sol”;

contract Test is ERC20, ERC20Burnable, Ownable {

constructor() ERC20(“Test Token”, “TEST”) {

_mint(msg.sender, 10000 * 10 ** 18);

}

}

For this example, I named the token Test Token with a symbol of TEST and having a volume of 10,000 TEST tokens.

b) Once you’re done with the lines of codes, you need to Compile the solidity file that was created. See the screenshot below as a guide on where it is located then click on the Compile button.

c) Click on the Deploy and Run function of Remix which is the last menu as shown on the screenshot below. Make sure that the Environment is Injected Web3 as that allows you to use the current network in your Metamask and since we earlier created BlockX network in your Metamask then it means this smart contract will be deployed to the BlockX network. Just make sure that BlockX network that we created earlier is selected in your metamask. One way to verify that it is the correct network, check the Account section, it will show you the balance of your BCX and make sure that you’re on the right account where you have your BCX tokens loaded from the BlockX Faucet which we will announce on the 30th of March. For the Contract option, make sure that the file that you created is selected then hit Deploy.

d) After you hit Deploy, your Metamask will open in which you have to confirm the transaction and pay some gas fee.

e) In order for you to know the smart contract address of your created token scroll through the Deploy section on the left then look for the Deployed Contracts section. There is a copy icon for you to be able to copy the smart contract address of your created token which is needed for you to be able to add your newly created token in your Metamask.

f) Now that you have the smart contract address, open your Metamask then click on Import tokens.

g) Enter the contract address in the Token Contract Address field and it will automatically show you the token symbol that you created together with the token decimal. Once you know that you pasted the right address, click on Add Custom Token button

h) This will show you the token that you created and you can even send it to other wallets provided that you have the BCX token which is being used as gas fee.

NOTE: The BCX that you will be getting from the faucet that you’re going to use in the process above is not the same as the BCX that you’re getting from the Binance Smart Chain. The BCX shown above is the native token of the BlockX network meaning it will be used as the gas fee for all the transactions within the BlockX network just like how ETH or BNB is being used.

2) Staking — Starts on April 12

Staking on the BCX tokens with upto 20% APY will kickstart on 12th April 2022. All the tokens will finally be swapped one to one with the Mainnet tokens and then staking will move to the Mainnet chain after its launch

3) Bounty and Airdrop Distribution

We are doing our bounty and airdrop distribution via a smart contract on Binance Smart Chain. That should be ready by 31st March 2022 or earlier when you can withdraw the bounty and airdrop rewards. Thanks to the 15,000 plus members who have participated in the program. Congratulations!

4) Listing

Reviewing the market condition and project developments, we have decided to move the secondary listing date on exchanges to 15th June 2022. This will give us ample time to launch all our pending product developments and also time for the market to improve.

5) Launchpads

BlockX will be available in more Launchpads between now and the listing date. Stay tuned

6) Validators

We have started accepting applications for Validators of the network.

Application is found here https://forms.gle/PwWmCWjWfKnzkaEP7 . Validator incentives include gas fees rewards, the ability to accept delegation rewards, etc. Validators are required to hold and stake a minimum of 100,000 BCX tokens.

7) Milestones for Mainnet Launch

We plan to launch an Incentivized Test Network by Jun 1, 2022. And our Mainnet should be live by Aug 15, 2022. After August 15, all transactions will be live on-chain and a swap will be available for all the BCX tokens in other chains to the Mainnet chains.

8) Invest Directly

You can continue to purchase BCX directly at https://invest.blockxnet.com/token/bcx

To summarize the timelines discussed above

Bounty and Airdrop Withdrawal — 31st March 2022

AMA — 8th April (Will be announced on telegram & social media)

Staking function (BCX) — 12th April 2022

Incentivized Testnet — June 1, 2022

Listing — 15th June 2022

Mainnet Launch — 15th August 2022

Launchpads — Ongoing

Testnet Beta 0.3 version — Available now

Validator Application — Open now

Direct ICO investments — Available now https://invest.blockxnet.com/token/bcx

The BlockX team has been working hard to release and launch the network of the future. We thank all our supporters for believing in the project.

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