BlackFort Exchange Network ($BXN) has been making waves with its combination of an L1 blockchain with innovative POSA consensus and a multichain wallet, as well as upcoming financial services and tokenized real estate platforms. We have chatted with the founding team about the project’s ambitious vision and roadmap for 2024.
First of all, why did you create BlackFort and why does the Web3 market need it?
Stefan Huber, CEO: For us, it has always been about breaking down barriers and bringing blockchain into the mainstream – not just in terms of end-user apps like wallets but also in terms of block production and validation. Otherwise you end up with the benefits of blockchain monopolized by a select few participants, as it happened with Bitcoin mining. Our L1 chain, BlackFort Exchange Network, makes it possible for a much wider audience to contribute and benefit. Inclusivity is the key word here. For example, to become a delegator, you need to buy an NFT – a solution that appeals to regular crypto users.
Mario Urschitz, CIO: I’d like to add that BlackFort is among the very few projects that combines blockchain infrastructure – such as our L1 – and user dApps, like our wallet or tokenization of real estate, as well as off-chain solutions, like our upcoming financial services platform with IBAN accounts and debit cards for our users. It’s an all-in-one ecosystem, and thanks to it BlackFort can stand independently in the market.
Can you tell the CoinCodex audience more about your Layer-1 network? Many probably haven’t heard about BlackFort Exchange Network yet.
Stefan Huber, CEO: It’s an EVM Core chain, but with an awesome twist – our proprietary consensus algorithm called Proof of Stake Authority, or POSA, plus special delegator NFTs. The native L1 token is $BXN. And as for traction, there are already nearly 1.5 million transactions and 130,000 active wallet addresses, so the Web3 audience is clearly interested!
Even more impressively, we have 165,000 node delegations spread across 120 countries – which makes BlackFort Exchange Network highly decentralized. You can explore real-time performance yourself on the block explorer page: https://explorer.blackfort.network.
You’ve mentioned POSA and delegator NFTs – both very novel concepts in the space. Can you tell us more about them?
Stefan Huber, CEO: Sure. As you can guess from the name, Proof-of-Stake Authority blends the features of PoS and Proof-of-Authority. Validators stake $BXN – but their financial stake is also aligned with their reputation. You need both $BXN and a reputable standing to be a validator. This approach allows us to minimize energy costs and validate transactions faster.
If you’d rather earn a passive income from validation, you can become a delegator – and for this you need a special Node NFT (nNFT). These are basically bundles of $BXN tokens wrapped in an NFT. There can only ever be 304,000 of these nNFTs, so the maximum number of delegators is capped. This ensures exclusivity and value, but at the same time I believe our choice to go with NFTs makes BlackFort very democratic. So far 175,000 nNFTs have been sold, so you still have time to join before the actual NFT-based delegation kicks in!
What sort of utility does $BXN have?
Lucas G. Hubert, COO: Once again, we combine infrastructure utility with mainstream utility, onchain and offchain utility. First of all, $BXN is used for gas fees and block rewards on BlackFort L1. But $BXN holders also get cashbacks when they buy, sell, or swap crypto using BlackFort wallet. Plus they get access to exclusive airdrops, and whitelist spots for upcoming releases.
$BXN holders will also receive special perks with our upcoming financial services solution BlackFort Pay and on our tokenized real estate platform – I mean discounts, reduced fees, etc.
Where can CoinCodex readers buy BXN?
Lucas G. Hubert, COO: For now $BXN is listed on 4 major exchanges: MEXC, Gate.io, Bitfinex, and LBank. More listings are coming soon!
BlackFort Wallet downloads have exceeded 300,000. Do you use this wallet yourself?
Lucas G. Hubert, COO: Yes, every day. It’s a multichain wallet that has all that I need: support for many chains, including Bitcoin, NFTs, buying and selling crypto with fiat, and even cross-chain swaps.
Which new products and features do you have lined up for 2024 and 2025?
Mario Urschitz, CIO: Speaking of the L1, we’ll soon launch Node NFT-based delegation. We’re also working on the first DEX on BlackFort Exchange Network.
Product-wise, we are very excited about BlackFort’s new platform for the tokenization of real estate. We already have all the licenses needed to buy, sell, and manage properties, and the MVP should go live in the next few weeks.
The next exciting product is BlackFort Pay, a financial services platform with online bank accounts, debit cards, and a fiat on- and off-ramp for crypto, and crypto swaps. We hope to release it in Q3 2024.
Please see: https://blackfort.exchange/roadmap/
Can you tell us a few words about your personal journey in crypto?
Stefan Huber, CEO:
I started mining BTC more than ten years ago as a college student. I also have a diverse skill set in IT, including backend development and web apps. Together with my deep interest in DLT systems, this led me to found BlackFort.
Lucas G. Hubert, COO:
I used to have a successful corporate career, but around 2019 I realized that if I didn’t enter crypto, I’d regret it forever. The next step was to offer something new and valuable – and the result was BlackFort, an ecosystem that removes barriers to entry into crypto.
Mario Urschitz, CIO:
Back in 2014, I established what would become Europe’s largest crypto education platform. In 2016, I started a crypto mining facility, and in 2018, I co-founded a compliant exchange for security tokens. So I have expertise in all areas of crypto, including legal, which helps me lead BlackFort’s RWA division.
What would you advise to new startups entering the market in 2024?
Lucas G. Hubert, COO: Focus on value for the community. Real value creates real growth. Oh, and always do your research – this includes before you launch a startup.
