It has been described as revolutionary, and indeed it is. The Blocknet, which is a true peer-to-peer protocol between nodes on different blockchains, enables open-ended communication and delivery of services between users of different cryptocurrencies.

It also increases the potential user base of any coin. It is for that reason that it has come to earn the moniker “the internet of blockchains.” Its ITO (Initial Token Offering) will take place on 29 October 2014.

Blocknet: How the Idea Began

The idea of the Blocknet began with Dan Metcalf, a developer at XCurrency. He had been trying to solve the problem of how to build XCurrency’s user base and improve the state of crypto-currency in general. It was then that the idea came to him that he could accomplish both goals by enabling one coin’s features provide services accessible to every other cryptocurrency.

As he developed the idea further, he saw that the foundation that supports this technology could also be used to ratify new coins and weed out “scamcoins” too. It could also incubate further development and enable collaboration between talented developers.

source: https://www.cryptocoinsnews.com/blocknet-works-initial-token-offering-rules/