Stakenet (XSN) is the world’s first Trustless Proof of Stake (TPoS) coin, based on the Bitcoin.core blockchain-architecture, that allows users to safely and conveniently stake their XSN coins in cold storage such as on a Ledger Nano S, while at the same time producing, validating and moving the XSN blockchain. TPoS is realized by the invention of the so-called “Merchantnodes” which allows users to stake their coins using the merchant’s high bandwidth, and continuous connectivity without having to share any spendable balances or private keys with the merchant. This allows for a truly trustless relationship between the client and the merchant. There are no requirements for becoming a merchant and TPoS is already a highly profitable business for hundreds of TPoS Merchants. In contrast to all previous solutions, 3rd parties in the XSN ecosystem have no exclusive or centralized advantage, but still have an incentive to offer their services because they can negotiate an individual commission with their costumer.

Along with TPoS, XSN has implemented masternodes which ensures a fully decentralized system while providing networkservices like Instant Send and a governance system. Furthermore the masternodes will host and manage the world first truly decentralized exchange in a profit driven ecosystem and enable Light Atomic Swaps between different blockchains, including the use of the Lightning Network. Last but not least the masternodes are used to offer Cross Chain Proof of Stake (CCPoS) services for other blockchains, based on the bitcoin.core blockchain-architecture.

The block rewards for XSN are split between masternodes, staking nodes, and treasury. Masternodes receive 45% of the block rewards for providing high bandwidth, 24/7 connections, and provide basic requirements for further XSN features such as CCPoS, Light Atomic Swaps and more. Staking rewards from TPoS and/or regular PoS receive 45% of the block rewards for leaving their nodes online securing the network. Lastly, 10% of the block rewards are rewarded to the treasury fund for future tech developments of XSN and for various upcoming Stakenet partnerships.

Next to TPoS and Masternodes, Stakenet will offer partnerships with multiple different businesses to implement the following services; Multiwallets/Staking as a Service Platform, Masternodes as a Service, Pooled Masternodes and Light Atomic Swaps Services. The profits from these businesses will then be used to buy & burn XSN though the monthly Revolving Stake Bonus (RSB) as a counterpart to the generated block rewards.

Unique Selling Propositions (USP’s):
⁃ Our current Trustless Proof of Stake (TPoS) for offline staking from a hardware device like Ledger Nano S and minting Proof of Stake for online staking.
⁃ Our upcoming truly Decentralized Exchange (DEX) hosted by the Masternodes for several POS currencies.
⁃ Our upcoming Cross Chain Proof of Stake (CCPoS) for other Bitcoin.core based currencies.
⁃ Our trustless, fully decentralized ecosystem for XSN and other cryptocurrency services like Multiwallets/Staking as a Service, Masternodes, Pooled Masternodes, Light Atomic Swaps etc.

Stakenet (XSN) Summary

Our goal for Stakenet was to create the world’s first truly trustless, profit-driven economy with the use of TPoS, the highest level of network security using decentralized cold staking, and Masternodes, the highest level of providing network services in a truly decentralized world. We accomplished our main goal already within a month after launch date and we are now pushing boundaries to expand our ecosystem of the XSN services and products. Our next big milestone for 2018 is to launch our Stakenet Decentralized Exchange (DEX) and Cross Chain Proof of Stake(CCPoS) capabilities to broaden the ecosystem and to make crypto assets more accessible and secure for the average user around the world.

Stakenet (XSN) was originally launched under the name PoSWallet (PoSW).