BlackFort Exchange Network (BXN)
BlackFort Exchange Network ranks #201 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #1603: 1402 of the 1602 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 1883 non-native assets CoinSpectrum lists above it by market cap, about 61% are tokens, 32% are claims on other assets, 5% are memecoins and 1% are NFT collections.
| CoinSpectrum Grade | pending — launch under review |
|---|---|
| Rank among cryptocurrencies | #201 |
| Rank counting claims | #1603 |
| Market capitalisation | $2M |
| Price | $0.000417 |
| Circulating supply | 4,489,589,680 BXN |
| Maximum supply | 49,999,999,999 BXN |
| Consensus family | Proof of Authority |
| Consensus mechanism | IBFT 2.0 (PoA, EVM) |
| Network purpose | Smart-contract platform |
| Ledger type | Multi-asset ledger |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
Grade pending. Fewer than six of BlackFort Exchange Network's nine network-security points are measured yet. A grade is not given until it is, so that a coin is never rated higher for what is not yet known.
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 7.3 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 7.3 | Proof of authority: 7.3 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 7.3 | Proof of authority: 7.3 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 6.6 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 6.2 | fixed maximum supply of 50 billion |
| Distribution | 5 | average of 2 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | – | Not yet measured |
| Premine (allocated at launch) | 0 | 100% of today's supply allocated at launch to founders, a company, a foundation or investors. On-chain supply is already 49,913,215,386 BXN (Blockscout coinsupply, 2026-10-23), essentially the full 49,999,999,999 BXN 'max supply'. The whole supply was created up front and distributed by BlackFort: 59% 'production of all nodes' (rewards paid to node NFTs), 21% locked in nodes, 8.13% liquidity reserve, 4% tokenize bonus, 3.37% community pre-launch bonus, 2% creator fund, 2% team. There is no open minting. source |
| Fundraising (share sold) (Source) | – | Launch not yet researched |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. No new issuance: essentially the full 50B BXN max supply already exists on chain, and node rewards are paid from the pre-created allocation. Company distribution falls under premine, not a reward cut. source |
| Decentralisation | 1 | average of 2 parts |
| Governance (Source) | 0 | An authority can halt the chain or freeze funds |
| No central team (Source) | – | Not yet researched |
| Who can mint (Source) | 2 | Gated by registration: producers admitted by name, licence or company registration: an allow list, federation, council or proof of authority |
| Nodes (Source) | – | Not yet counted |
| Security | — | 0.1 of 1 points, 7 not yet measured |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | – | |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | – | |
| Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point) | 1 | not mined: another consensus, 1 |
| Clients (Separate code and teams 10, separate code or teams 9, a fork by the same team or a stale second 8; one client: a new version within 12 months 7, 24 months 6, none in 24 months 5, none in 48 months 3; a second in development +0.5, a second seen running +1, 8 at most with one client; chain ended 0; 1 point) | – | |
| Open source (Node software) | – | |
| No 51% attack (Nor a deep reorganisation, five years) | – | |
| Scalability | 6.3 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.000015 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | 8.8 | about 1,190 simple transactions a second |
| Block time (10 minutes 10, less either side) | 2.5 | a block every 5 seconds |
| Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth) | 10 | 3.13 MB limit (converted from its gas, compute, mass or count limit), 375 MB per 10 minutes |
| Features (3 checks) | 0 | 0 of 1 passed, 2 not yet researched |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | – | |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | – | Besu block-history pruning on this private IBFT network was not established. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✗ | The chain runs Hyperledger Besu (v26.9.0 on the public RPC), which has no light client. |
| Privacy | 7 | 7 of 10: whitepaper privacy 7 of 7, extra features 0 of 3, 2 not yet researched source |
| Protocol level privacy (Keys not tied to an identity · Whitepaper §10) | 10 | Accounts are derived from user-generated keys and the EVM checks only signatures and balances; no identity check is part of the chain's rules. |
| UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9) | – | |
| HD addresses (A new address for each payment, unlinked · Whitepaper §10) | – | |
| Hidden amounts (Amounts confidential) | 0 | Account-based EVM chain with public balances and transfer amounts. |
| Hidden parties (Sender and receiver hidden) | 0 | Sender and receiver addresses are public; no ring signatures, ZK sender proofs or stealth addresses in the protocol. |
| Network privacy (Origin hidden by default) | 0 | Devp2p relays transactions directly from the sending node; no Dandelion-style relay or built-in Tor. |
| Programmability | 7.8 | 7 of 9 points source |
| Token issuance (At protocol level) | 2 | ERC-20 contracts on its EVM chain (chain ID 488 since the February 2025 migration), open to any account; third-party contracts appear on its explorer. |
| Smart contracts (General-purpose) | 2 | IBFT EVM chain (chain ID 488 since the February 2025 migration), open to any account; blocks produced in October 2026. |
| Multisig and time locks (Without a third party) | ✓ | EVM contracts can enforce m-of-n signatures and block-time locks. |
| Atomic swaps (With other chains) | ✓ | Hash-locked, time-locked contracts can be written for its EVM. |
| Native DEX (Trades the coin itself, not a claim) | ✗ | No DEX found trading the coin itself: none on its own chain (DefiLlama), and not on THORChain, Maya, Chainflip, Komodo DeFi, BasicSwap, Bisq or Haveno (checked 2026-11-04). |
| Cross-chain messaging (Verified by the chain itself) | ✗ | No protocol-level cross-chain messaging found. |
| NFTs (Carried by the chain's rules) | ✓ | ERC-721 contracts on its EVM. |
| Demand | 4 | average of 7 measures |
| Exchanges (10 or more: 10) | 2 | 2 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 0.7 | $22,454 traded in 24 hours; #2321 by volume on the exchanges the site reads (scored on the median day of the last 30, $22,641) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 6.3 | 1.0% of its market cap a day, median of the last 30 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 7.5 | $3,222 within 2% of the price on 2 exchanges, 0.17% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 0.7 | $1.9M, 0.7 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 10 | no futures, options or margin on the exchanges read |
| Wallet support (wallets that hold it, 10 or more: 10) | 1 | its own node and wallet, counted as 1: no wallet in the site's directory lists it yet |
| Record | — | average of 3 criteria |
| Age (years since genesis) (Source) | 2 | 2 full years since 2024-04-03, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, fixes, vulnerabilities) | — | Not yet measured: no commit count and no release research |
| Conduct (origin, claims, halts) | — | Not yet reviewed |
Ten sections, weighted equally, each 0 to 10: consensus (the two ladders), supply (the supply scale and a fixed cap that holds), distribution (premine, fundraising, developer share, holders), decentralisation (governance, no central team, who can mint, nodes), security, scalability, privacy, programmability (what the scripting layer can do beyond the whitepaper's payment system), demand, and record (age, development, conduct). They are built from the criteria in the second table: privacy, scalability, security and decentralisation are the Cryptocurrency Standards among them, as follows: privacy (the whitepaper's three checks a base of 7 of 10, three extra features up to 3 more), scalability (four measures and three features), security (pool diversity, network activity, hashrate, clients and two checks) and decentralisation (governance, no central team, who can mint, nodes, holders, premine, fundraising and developer share); programmability (token issuance, smart contracts and five checks) follows them, and supply and demand are two: the supply, scored against 21 million, and demand, the average of seven measures of the market and the wallets. Provisional: parts marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
Proof of Authority coins
Bittensor TAOA
VeChain VETB
Ozone Chain OZOB
AMO Coin AMOC
DucatusX DUCXC
Blockchain Foundation for Innovation & Collaboration BFIC
Humanode HMNDAll Proof of Authority chains →Proof of Work coins
Bitcoin BTCA+
Zcash ZECA+
Dogecoin DOGEA+
Monero XMRA+
Bitcoin Cash BCHA++
Litecoin LTCA+
Ethereum Classic ETCAAll Proof of Work chains →Supply
4,489,589,680 of a maximum 49,999,999,999 BXN are in circulation — 9.0% of the total that will ever exist.
Launch and allocation
| Premine (allocated at launch) | 100% of today's supply |
|---|---|
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
On-chain supply is already 49,913,215,386 BXN (Blockscout coinsupply, 2026-10-23), essentially the full 49,999,999,999 BXN 'max supply'. The whole supply was created up front and distributed by BlackFort: 59% 'production of all nodes' (rewards paid to node NFTs), 21% locked in nodes, 8.13% liquidity reserve, 4% tokenize bonus, 3.37% community pre-launch bonus, 2% creator fund, 2% team. There is no open minting.
Validator nodes are NFT 'nodes' with a fixed BXN lock and are distributed by BlackFort. How many were sold, and for how much, was not established. Gate.io ran a free 'Startup' offering.
No new issuance: essentially the full 50B BXN max supply already exists on chain, and node rewards are paid from the pre-created allocation. Company distribution falls under premine, not a reward cut.
The site has no label yet. The allocation table is the team's own listing text on CoinCarp. Even if the 59% node-production pool were treated as a reward pool, the supply is fully pre-minted and paid out under an authority model, so 100 under the no-open-minting rule stands. BXN was delisted from Bitfinex.
Sources: blackfort.exchange · blackfortscan.com · blackfortscan.com · coincarp.com · blog.bitfinex.com · thedefiant.io. Researched 2026-10-24, medium confidence.
What a regulator has said
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
How CoinSpectrum ranks BlackFort Exchange Network
BlackFort Exchange Network is #201 among cryptocurrencies and #1603 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 1402 places between BlackFort Exchange Network's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).