Bitcoin Forum

On Dec 22, 2017, the average BTC transaction was $55. See https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

ETH was about $5 per transaction at its peak.

Why did this happen? Transactions were all being done on chain and it got congested.

Uniswap currently has more than 200 mio daily volume, but transactions are on-chain so ETH gas fees are through the roof.

Stakenet is solving this by implementing the Raiden Network, AND the Lightning Network to perform instant off-chain transactions which are way cheaper.

All the fees that are collected from people trading is used to pay masternode owners, AND to buy up XSN and burn it from the total supply.

In other words, XSN will be deflationary, just like Bitcoin. Once people realize how EASY it is to use their DEX, volume is going to go through the roof.

It's currently in BETA, but is being soft launched at the end of the month.  ;).

Man gas fees are getting insane!

Tested the Dex. It is next level. Essentially it will be one gas or transaction fee (in the case of BTC) to open a lightning or raiden channel, and then trade as much as you want, then close the channel when you're done (could be months).

Been on uniswap all week and everything about it screams expensive.

yeah, i think this coin has a lot of potential
anyway,  i hope this coin will be tradeable on better exchange just like bittrex and binance
https://coinmarketcap.com/currencies/stakenet/markets

So you're gonna force user to open a LN channel first? How exactly is this going to be implemented? Why the need of a new token if you can just take commission from every trades?

There is already plenty of threads from the same people/bagholders shilling stakenet/XSN, there really isn't the need for yet another one.

Yes, it is promising but when it's the same members posting on a regular and frequent basis it will have the opposite effect and make folks wary.

Just my 2 cents.

This stakenet and a bunch user like @OP trying to shiling this token on different board.

I already see a lot of thread about stakenet on almost trading/altcoin board, now they are shining the token by giving some statement about "DeFI" when right now this type investment was quite popular.

It's true. I saw this kind of thread before and that's why it's very familiar to me and afterwards, I've read your comment so I remember it already.
Talking about DeFi when before, I haven't read that they are like that. Looking to it, it's starting to have greater volume.

I haven't read much about Stakenets (XSN). If Stakenet can be the solution to the problem of high transaction fees and slow transactions on the Ethereum network today, then it will be meaningful.
XSN doesn't have many exchanges yet, it would be good news if XSN was listed on the top exchanges.

yep, a lot of great things inside this project,
thats why stakenet team need a marketing good strategy to promote their project
so, people know if this project is a part of promissing altcoins
regards

Top exchanges hasn't been a priority just yet, as the team never did an ICO. Their dev funds are spent wisely on developments, however the project WILL be listed on bigger exchanges eventually.
There's a ton of projects here "shilled" daily. Give me a break dude.

Stakenet has a VERY active community, and the Twitter engagement outperforms Binance in terms of engagement and audience reach, which is pretty damn impressive.

This one is a sleeper, like it or not.

I guess the one making high gas fees on ETH network is this defi projects listed on Uniswap, we have a trend on Defi now that goes directly to uniswap and they are fighting for gas price increasing it little by little to be prioritize. I am just curious why you called Stakenet as the king of defi? Do they have already a working defi project on stakenet blockchain? Upon checking stakenet explorer some of the supply are on cryptopia which is a hacked exchange.

Yes, they have a fully functional second layer DEX, which is the ONLY one in the world currently. THIS is why it's the KING of DEFI. It solves all the current issues we have in the crypto space right now.

1) High transaction costs
2) Slow Transactions
3) Centralized Trading

There was a bunch of projects affected by the Cryptopia hack, nothing to do about it really, should teach anyone a lesson NOT to store your coins on a centralized exchange though.

Join the Stakenet Discord, and go test the DEX on your own. ;)

A lot of potentials?? Why you say that?? I don't see a lot of potential for this coin. XSN for me is just altcoin like other altcoins, nothing special
And if you look at the market, you will know this coin is not quite good. If the team can prove that it can be listed on binance, Yes i agree with you that this is potential

You've got absolutely no clue. You haven't taken a MINUTE to research this project, which believe it or not can be used to trade on ALL exchanges in the WORLD without needing:

KYC
Login
Trusting a third party

This means you can trade through Binance using a liquidity provider, you can arbitrage using trading bots and turn a profit instantly.
XSN is FAR from just "another altcoin", you'll learn soon enough.

There are tons of tokens + coins hacked on Cryptopia. BTC, ETH, LINK, XMR, what's your point?

Yes, they've got a working product, and a good one frankly. Join their Discord channel and check for yourself, there's ALL you need to know about this project + more. Devs answers/community managers answers questions pretty fast from my experience.

I cant believe most staking coins are already considered DEFI. Its like they are chasing for some hype to pump the value of the coin.
There is no king of defi, Shouldn't it be UNI token? since its literally caused the community to notice it and made Eth miners happy.

This project I got it wrong from the beginning and it painful after I understand better the tech. There are many scaling solutions on Ethereum now but Stakenet is one of those hat stand out for me, all they need is one successful Dapp on Stakenet then that would be the beginning of greater things to come

Uniswaps exchange is a fucking mess. Why? Because Ethereum can't scale at all. Take a few mins and research XSN. I can't believe how many people here who fail to do actual research on projects that will change the way we trade in the future.

INSTANT Ethereum trading
INSTANT Bitcoin trading

EXTREMELY low fees

What's not to like here? And all this, while remaining 100% decentralized.

This is just ONE of Stakenet's dApps, with many more to come, which will benefit the whole ecosystem.  ;)

Instant BTC and ETH transactions is being stress tested using Stakenet's DEX platform, with little to no problems. More than 100k in volume over the past week, which is pretty impressive.

Please tell me what scaling solutions for Ethereum you like? The Raiden Network (similar to the Lightning Network) is what is being used on Stakenet's DEX platform, which seems to work pretty smoothly so far!

Where can I try this DEX? It sounds freaking amazing. I'm fed up Uniswap and their extremely high gas fees.  ???

As far as I know there's no other scaling solution a part from the Raiden Network. Ethereum 2.0 should fix a lot of the current issues though, but it's been delayed so many times already, haha.

I'll definitely do some research on this project, seems like a good one.

In the Stakenet Discord server, you can find the DEX setup to use. You can experience the lowest fees on the market either instant transactions.

There are tons of newbie accounts writing here, which tells me just one thing, stakenet team is working overtime on marketing and going viral, they want to spend as much time and effort on getting their name heard as they spend on development of it. I am sure they have enough money to spend on marketing and this is why they are spending it on people to do these type of topics but there is a billion topics about stakenet here that we do not really need at all.

I would say smarter way of doing marketing would be airdrops and bounties because that way they could at least get everyone involved instead of hiring people to create bitcointalk accounts and writing here about their coins. It is definitely not a bad project, it is a cool idea if they can get attraction but this is not the way of it.

Stakenet's community is pretty damn huge.. The community is extremely active overall - Twitter especially where Stakenet has more engagement than Binance, which is impressive as fuck.
Don't believe me? Go check for youself.

Stakenet is a promising project with a ton of investors behind, naturally they want to talk about it at places like here.

The problem is when there's multiple threads about Stakenet here and a lot of posts from the same members and newbies in every one of those threads it gives the impression of a handful of bagholders trying to pump the price which might of worked a few years ago but nowadays people are far more careful and selective in which projects they invest in.

Stakenet certainly looks like a promising project but there are better ways of promoting it.

There's a handful of very bullish people promoting Stakenet on Twitter, that's all I know. I'm VERY excited about the project, which is why I try to share it here. I agree there's quite a few threads regarding Stakenet here, but I guess a good project gets talked about. There's quite a few Chainlink threads here as well, both projects are being discussed a lot on 4chan as well, both having a very large community.

There's hardly anyone investing in alt's right now, which makes sense with BTC's run lately, but XSN did 10x in august, which shows how much potential this project has. It did retrace quite a bit, but so did all major alt's even LINK and ADA, just to name a few.

^ Nobody says that they are not doing marketing properly, I have said multiple times before that stakenet is spending millions of dollars on marketing and it is obvious, or they are spending a lot less on some tech farm in a third world country but it is obvious that they are working on marketing it by word of mouth and social media.

This doesn't mean they have a "huge community" or a better engagement. You know why I say that? Because over half of what stakenet you see online is from the marketing they do and not from real people, this is too obvious to see from everywhere.

Why do you not see tens of pages regarding stakenet here? Or why not tens of legendary accounts talk about it? Why is there few pages with many topics filled with newbie accounts? Because, they pay for it that is why. Same goes for twitter and telegram and many other stuff.

maybe stakenet is a good altcoins project, but not sure this project will be a scaling solution for bitcoin and ethereum my friend
i hope you will do more research with stakenet

you write this thread at august 19 this year, wich mean the dex alreacy already launched right ? because you wrote this "but is being soft launched at the end of the month"
then how is the dex now ? does the dex this work properly ?
thanks

That also makes me a bit suspicious. Thenewbie accounts promoting it seem to be really tech savvy. but one hardly ever hears some oldtimers talk about it. I wonder whether there is something behind this coin.

this post try to create a hype on stakenet, but thats not a big problem, because this alt is not a bad altcoin
by the way, as i know the king of defi now is chainlink, and i don't see any new or old defi project can replace chainlink in the near time my friend

The DEX can be downloaded from the Stakenet Discord channel, it's still in open beta, however you can trade BTC LTC and XSN. Ethereum is being integrated right now, with a bunch of testers working to remove any possible flaws and bugs. :)

It honestly wouldn't surprise me one bit if we see $100 transaction fees on the BTC network, as it cannot scale at all.

Ethereum seems to be experiencing the same thing. Stakenet seems like a promising solution - If they can pull it off

There are many new exchanges available today that could replace UNISWAP like TOMOCHAIN's tomodex, KOMODO's atomic swap, Solana's SERUM DEX, and a few more coming in the future. They provide good service and have quite a high volume of transactions and are of particular interest to the community.
Stakenet may be a new project with a great idea but it needs a specific product with strong community interest. So far I have just learned about this project. This will hardly guarantee their success.

How does Stakenet compare to these?

They are on-chain DEX's, which means high trading fees, and slow trading.

Doesn't compare the slightest to Stakenet

What does "on-chain" DEX's mean? I've seen these discussions for a while, and don't understand the logic behind on-chain and off-chain. Is it something related to The Lightning Network? A bit confused here.  ??? :D

I just made an inquiry for you. And got a little more explanation about your question here:
Onchain DEXs: eg Komodo DEX, uniswap, block dex etc: atomic swaps that happen onchain. So they are limited to blocktime (btc blocktime: 10 minutes), every swap has to be confirmed by every miner, so you have to pay a normal transaction fee to the miners (rember Uniswap fees in july which were like 50-100 USD swap), is not very private as you can see every adress in every explorer and  not scalable

Offchain DEX: eg Stakenet Dex, they are using Lightning Network and Connext. These are layer 2 solutions, so it is network built on Blockchains (layer 1 == massive security by mining power), a network between nodes. So no miners are involved here, it is offchain=> more privacy as every tx is only stored in your node, never gets broadcasted to the public explorer. Less fees as you dont have to pay the miners, more scalable (eventually up to 1 Mio TX / second) and faster (~ instant) as you dont depend on block limit or blocktime.


I hope I have helped you further with this.
You can always test the dex yourself or wait for the SSUI of the mclw to be live for everyone. More info can be found in our discord.

Just saw it also and Obviously the First replies comes from a Newbie that almost no post supporting the Post of another newbie that promoting a newbie project also.

Looking at the pattern we can simply find the Idea of them shilling for this Riding for the popularity project.

Almost every New token are Pointing the Congestion in Bitcoin transactions Whenever there is a Hype ,But the truth is they are only gathering a prospective Victims.

I am certainly not a newbie coming here to sell his product.
I've been reading this as a guest for more than 2 to 3 years because I never say anything.
Why should I log in if I only read about projects and lightning or other things?

I support the L2 lightning solution: Yes
I support no KYC: Yes
I support transporting your money as safely as possible: Yes
I support masternodes and the voting system to the team: Yes

Then it's simple, this has stakenet and from day 1 supported by Ledger and Trezor hard wallet.

Thanks a lot for the explanation man. Helped a lot. Might do some extra research into this project. Looks promising!  ;)

I agree that some of the posts come off as artificial. I suppose it can't be helped in the crypto space where shilling and astroturfing are the norm.
It's sad that no one with influence is talking about what Stakenet DEX is doing. It's got a lot of promise to it as an L2 DEX that can swap real BTC and LTC for real ETH and ERCs off-chain, but most with influence in crypto continue to promote all the layer 2 components XSN is employing (i.e. Lightning Network or L2 ETH solutions) without giving them an ounce of recognition, or they back Uniswap clones with lots of ICO money instead.  :-\

I guess once Ethereum is integrated and you can trade BTC => LINK instantly that people will actually take notice, haha.
On top of that a new top tier exchange will certainly help as well, which is coming soon

Any idea which one this could be?

I'm more excited about the prospect of XMR/BTC atomic swaps being added to the DEX.  ;D

From what I hear it's a top 20 exchange.

I think XMR is a long way away from being lightning ready. Of course normal atomic swaps are being worked on atm.

It is natural that in a situation where traffic is high, the fee will soar and it cannot be avoided, otherwise if the traffic is not much it will return to normal.
the main problem because the transactions are mostly of small value so that they have an influence and become a conversation and look for new alternatives. as long as the alternative is reliable it will certainly be used, but it takes trust to be accepted.

I hope that this is the renewal you are looking for, it is not easy to accept something new if it is not based on a very understandable belief, it will take time for that because it is not easy to change existing habits and beliefs.

XSN can handle 240 tps right? It's generally pretty fast on L1 and capable of doing regular atomic swaps, so I'm hopeful.  :)
Is there a way to do XMR/XSN swaps on L1 without having to download both blockchains? This I wonder.

Wise. In the event that BTC and ETH continue to take off into 2022, a proper L2 DEX and bridging infrastructure could see them go much higher than expected because it would make them so much more convenient and immediately usable.

True, I believe this project will be off the charts as soon as instant LINK/BTC and LINK/ETH transactions is doable.

Nobody cares at this point, which frankly gives me more time to accumulate, so not complaining, haha. I wonder which top 20 exchange the team has planned to list XSN on, as stated in their latest announcement though.

I must have missed that. I'll have to give it a read. Thanks man.  :)

You're welcome, it's at the very bottom of that announcement.
Really excited to see which exchange they've made deals with!

I'm sure it will make it much more appealing for new investors to get onboard.

I'm more excited about the article they published on ETH scalability. A small part here:
A lot more is in play than I expected.  ;D

Interesting, do you have a link to that article by any means? I really want to take a deeper look into it  :)

Check this out!
https://medium.com/stakenet/ethereum-scalability-solutions-connext-and-stakenet-xsn-research-4edb29267bb6 (https://medium.com/stakenet/ethereum-scalability-solutions-connext-and-stakenet-xsn-research-4edb29267bb6)

I have been watching Stakenet for several months now. The real Q is the Promise of Stakenet: A Breakthrough or a Gimmick? So I have tried it for the past 6 months (quarantine period lol). Their inbuilt DEX makes BTC/LTC trades instantly. Ethereum is getting integrated as well. They have a simple swap service and a DEX for those who want to actually day trade. Through their DEX you'll have access to all the major exchanges through liquidity providers.

Not bad right? It sounds and looks really good but now it is being ignored by the crypto community as a whole.

SSUI and ETH integration will make the DEX too useful to ignore

I'll be interested to see where this goes.

Here's a small teaser of the new private build  :)
https://i.imgur.com/hbmbl7w.png

People are now scared of selling on the fud. You should not even invest if you are scared of the future and making money?

And now I want to leave a comment here to commend Stakenet.
Stakenet does a great job with the buying/selling of BTC.
And Stakenet launched its own DEX with instant BTC transactions.

In 10 years, Lightning Network will be as obvious as Bitcoin... Only a few people understand what LN can do and what it can imply.

This is why I understand why a project like Stakenet doesn't get more attention.
Soon they will realize how important Stakenet as it's the only project working on trustless instant BTC, ETH, LTC, transactions with next to 0 fees on their DEX and Multi-Currency Wallet (built in 1 dApp). People use Bitcoin to INVEST and NOT SPEND so they don't care much about the onchain fees/transaction fees.

No idea how many more times we'll see BTC and ETH clog to a crawl before people realize the potential of L2

i don't really understand if xsn will be the king of defi, may i know the reason mate ?
because for me the king of defi is chainlink (https://coinmarketcap.com/defi/) my friend
you can check here https://coinmarketcap.com/defi

Chainlink and Stakenet cannot be compared in any way, lol.

Completely different projects, with completely different roadmaps.

Stakenet has WAAY more upside potential than Chainlink has right now, due to the fact that XSN is sitting on a VERY low marketcap.
Check this promo video which shows an instant decentralized swap between BTC and USDT: https://streamable.com/codw1m

Any XSN buys under $1 will be legendary