[ANN][XSN] Stakenet - The World's First Trustless Proof of Stake Coin

[Yankeeruinx]

Oh what’s this on Ledgers github:

https://github.com/LedgerHQ/lib-ledger-core/pull/79

Prepare for 1.1.8: Activate Sapling for Komodo and support for XSN #79

[falce]

i really dont count on ledger being fast all of a sudden, but would be a very good development nevertheless. finally getting one of the gateways to security concerned people back. should increase overall interest - first step seeing that the coin exists - in tpos and xsn.
wasn't convinced that there was still too much development going on (and judging by releases and commits as well as finished roadmap items and not comments on a gaming chat), the cooperation with the ltc foundation, showed me nevertheless how wrong i was on that.

but i want to defend myself a little as well -

the whitepaper has not been updated for a while (at least the one on stakenet), has a very interestign and old roadmap in it (fuck the typos and small changes), and shows what people were told the team thought achieveable. q3/4 was almost nothing when i look at the roadmap.
on the other hand q3 has the lightning channels and swaps q4 has the best thing happening since tpos - the cooperation with ltcf

when i mentioned streamlining the message in this thread some time ago, it was about things exactly like that.

for me xsn is the TPOS, Lightning, CCPOS(still to come) coin

for most people it seems to be some masternode pos coin as others, and judging by what you see comparing roadmaps, whitepaper, this thread and discord. especially a mn coin. so i guess that is why the team has to talk quite a lot about future earning possibilities of mn. obviously money and how to get more of it are very important parts in teh crypto community, but xsn is just so much more than that at the moment. took me a while to get to the point that the former posw - especially after skas p&d allegations - was really trying to be different from posw. the roadmaps got changed quite a lot, the whitepaper does not seem to be the full xsn picture anymore, and finally a twitter contest without too much too show for releasewise. and then the ltc foundation cooperation starts, and hey, finally i can feel stupid for distrusting the work of the devs.

the whole picture always sounded like a shill before, yeahyeah, sure you gonna do that, gonna wait for your next pump, if someone believes it, and finally get out. no pump happend, no get out. but all in all reading whatever starhead says makes sense now, and so does hodling xsn for now.

[chrysophylax]

Interesting ...

I am watching!

#crysx

[Yankeeruinx]

You have to remember a lot of work is happening in the background, things like the LTC collaboration don’t happen overnight. The devs had to prove themselves and LTC went through everything with a fine tooth comb as they aren’t going to let a bunch of amateurs lose on their codebase. Yes that might have pushed back a few items on the roadmap as resources were diverted but I think it’s safe to say the work will pay off and is worth a little delay.

Anyway here is a new interview with the Team that just went up:

https://link.medium.com/gn4H77MniT

[hermesesus]

Check out this XSN Investor Factsheet, it highlights all the different ways you can earn passive income with XSN

https://stakenet.io/Project_Summary.pdf

Edit: updated link

[falce]

is this the updated version or the one from the morning(cet)? cause i didn't get to see the one in the morning, only the message it would be adjusted.

edit: if it is not the adjusted one, i think the dev funds converted from old posw times should be accounted for as well. last i found in this thread was 11.5mill, was some time ago, but gives a healthier - more funding, a little less market stress, more development - perspective imo

[Rangestar1]

Some more information regarding Ledger and the next steps for Litecoin collaboration. Ledger have merged the first pull request to seems to be progress on the integration of XSN! https://twitter.com/XSNofficial/status/1083002396706566152

[Yankeeruinx]

The first pull request has been merged by @LedgerHQ for #XSN support  https://github.com/LedgerHQ/lib-ledger-core/pull/79

Also our dev team @X9developers’s work has been merged into #litecoin from our collaboration with @LTCFoundation

https://twitter.com/xsnofficial/status/1083002396706566152?s=21

[Yankeeruinx]

We have updated our project summary with details of our upcoming software and #hardware developments and key characteristics of our #Masternodes and #LightningNetwork. We encourage everyone to read this to understand our vision and development focus:

https://stakenet.io/Project_Summary.pdf


https://twitter.com/XSNofficial/status/1083346708015267841

[BalkanBetBox]

StakeNet listed on https://masternode.plus/coin/XSN

[yurez]

We have updated our project summary with details of our upcoming software and #hardware developments and key characteristics of our #Masternodes and #LightningNetwork. We encourage everyone to read this to understand our vision and development focus:

https://stakenet.io/Project_Summary.pdf


https://twitter.com/XSNofficial/status/1083346708015267841

In this format much easier to perceive information. Thanks for the update. According to the roadmap this year will be interesting.

[paramind22]

I decided to install my wallet on another machine and not very impressed with the way the company's vision is as far as marketing.  Only pretty naive business people think that the market thinks like they do, or wants to think like they do.

So, this is a crypto coin for the crypto geek community only.

First, I have to go to Github.  Which is now owned by Microsoft, an ominous sign.  Github is slow today for some reason, maybe MS doesn't like competition anymore.  They've turned over a new leaf, and decided to become competitive over time and are not allocating as much bandwidth.  Well, I guess some people sell out eventually.

Second, on Github it doesn't really say "Download the great new coin's wallet here."  But there are "updates."  At first it kind of looks like they might be patches or something.

I've taught the public and even business owners computer topics and believe me, they don't think like techies. 

If you want any major adoption, you have to rethink your marketing/tech deployment angle.

I know this sounds like a rant, it's more like just giving a perspective and a little humor.   But, seriously, there is a lesson about trying to make one's interface as simple as possible. 



 

[Yankeeruinx]

This should keep some people happy:

https://twitter.com/XSNofficial/status/1084766869373046784

As our light wallet is being worked on privately our devs have adjusted #GitHub. You can now monitor the work being done on all public repos in one place. This will reflect on commit tracking sites. You can also view the work completed in Q4 2018 (previously omitted) #XSN

[falce]

so the devs are doing their jobs and got the ltcf cooperation through hard work, and the dash 0.13 update frees else otherly invested devtime. the price does not really show that, but as long as there are the old devfunds i dont think that the development is in jeopardy. from the 11,500,000 stated some time ago in this thread, there are still 6,288,792.6213561 xsn left on the addresses from the faq - https://stakenet.io/faq/#what_is_the_treasury . even with our horror prices right now, that is a good basis for not getting too stressed out, and continue developing instead of worrying. so i would put that out more - having stable perspectives in development without having to stress out about the funding should be something people aprpeciate. at least so called smart money

the big picture wouldn't be achievable at all without that sort of financial security. and since the puzzle pieces are slowly fitting together - mn/ln/ltcf/dex/dapps/ccpos, tpos/xeeda/ledger/viper, and the right core to implement great work (dash <3) by others without a need to hardfork (just to name a few), it should not take too long that more people will come around. the lightwallet should make it easier for people to come around as well. on the other wallet - it was about time to change some things (logo) very long ago, now with the much appreciated help of dash, there should be freed ressources to help. and having a nice looking and easy wallet seems to be as important as good tech, cause most people dont seem to care about understanding what they are doing, but want one click solutions. since i am writing about the wallet - pls, pls, pls make an unlock for staking only feature and improve the scalabilty for small/big resolutions.  

there are some obvious problems as well. unless the team directed some of the funds to addresses not mentioned in the faq, there was a lot of sell pressure because of the very high rewards in the beginning as well as when 5mill xsn got sold over the last year, it wasn't exactly helping the price. in hindsight i think xsn never should have had as high rewards, but hey nobody was expecting that posw would be traded at 1$ for promises (bull) and xsn always below that for delivering (bear). but all in all bear combined with sells explains a lot. not that bull and bear markets explain everything, and of course even duringst them there can be anticyclical projects (though its easier to be anticyclical during a bull of course). nevertheless point being, that the bear was taking its tolls and intensified the negative impact of inflation and selling funds for development. But there is hardly a better way of dealing with a bear than just push forward through development, dont get me wrong, but it of course plays an immediate role pricewise when coins are sold, whilst the development seldomly immediatly resonates, but with good dev it will materialize far better returns over time, than what the short term selling is costing.

in the end two pleas:
pls dont put more goals on the roadmap due to the work dash has done, but regroup the ressources for the goals already written down
pls update the whitepaper, the 2018 roadmap in there hurts a little, i'd put in the achievements of 2018 and (still speaking of what i would do) put in the roadmap without the qs, telling people to check stakenet for updates.

[falce]

---- was in some kind of writing frenzy, so another post ----

XSN – Stakenet – what I think of it right now

I follow this coin since its predecessors beginnings, and am still surprised every now and then on how this coin, its surroundings (stakenet.io for example) and its as well as the whole crypto-community behave.

Posw wasn’t much as a coin, a simple pos coin, no mn, no extras whatsoever. But it had poswallet.com, which was meant to be THE online staking wallet for pos coins, as well as an exchange. And the profits were distributed through special rewards to the people holding posw on poswallet.com.

This coin was able to climb up to 20,000 sat (btc around 1100 usd back then though) with this very easy business plan. And I think that part of this success was exactly that very simple business model everyone was able to understand. Or to translate it in a very simple way to a normal person:
poswallet: company with a site offering different services as business model, shares(~coins) and dividends

And I think therein lies one of the biggest problems of XSN.Stakenet
→ it’s business model is not easy to understand. Easiest probably still the site (though its of minor importance compared to poswallet/posw) offering services in exchange for fees, which get invested into further development. A “dividend”/reward is an easy to understand incentive for buying a coin, development everyone understands is important, but also far more complex and not directly benefiting (indirectly it does of course) the holder.

→ So instead of the old sitecentric model, there came the new coincentric model. The idea seems to be pretty simple from a mn holder point of view – Someone hosts a masternode, therfore offering the chain services, which firstly gets rewarded as long as it runs and will secondly be able to earn fees for offering services within the lightning network for example as well. That is rather easy to understand. But the way to those services lies within complex development. And development just is not as sexy as a finished product. For me especially when there are different roadmaps on different platforms, few explanations on why some goals change (still waiting for the promised text on the whys of the roadmap change in september 2018). All this combined with some bear market depression state, I for one start questioning my decisions and try to figure out why the market seems to be in a major disagreement with me. In the end the market decides what will be the future and not the best tech(plenty of examples, but old vhs vs betamax standard illustrates that very good).

→ therefore it is of utmost importance to get people into xsn before there are more competitors. Since i’m believing the devs are doing great work – the ltcf cooperation speaks for itself – I am believing they will deliver a great product. But we are in an opens source environment, and therefore anyone able to follow one of the many guides how to make your own coin, can clone xsn at any given time. If newxsn got the easier to understand, better pitch many people wont care about the origin.

I love the great perspective stories, which were told in the early articles on xsn. How tpos could even get hedgefunds interested, which abundance of possibilities there will be and so on. I really do. But in this rather depressing market and people – myself included – questioning every single decision they were making, some reassurance for the short term future is very important. For me that was the cooperation with the litecoin foundation, for others it might be some calculations on how mns will potentially return, and so on. But to get back to the opener, there is no community consensus on what xsn actually is, and how to profit of it as it was with posw. I am not saying that I dislike the abundance of options, but I would recommend the xsn.stakenet team to make some polls on which features the community is most interested in (on discord for example), and break the most accounted for down for the public. Than do the same thing on twitter. I know that this kind of research is a pain in the arse, but knowing what the customer wants (to hear - especially in that situation) would help a lot. XSN.Stakenet offers something for everyone, so it should not be a problem to write some marketing according to what people want, even if it is not the most innovative feature.

Not even touching the extreme difference within the coins codes, which is like comparing my first tricycle riding experience to my first motorcycle riding experience, even though I know I was playing to be a biker with the tricycle. People caring about code should make their way to xsn sooner or later as long as xsn keeps up with its impressive work. There is simply not much to criticize. 

I am happy with seeing the steps taken forward to establish the technical foundation of a whole new cryptoenvironment surrounding XSN.Stakenet, but I also think that the big picture is just too complex – at least in the way it is presented right now – as to entertain very many people.

And I think its time for a ceterum censeo:
please streamline the product and marketing. Same logos everywhere, same roadmaps everywhere, same infos everywhere.

[falce]

what's happening on the xsn front?

firstly the cryptopia hack. Even though xsn does not seem to be afflicted, it was a blow to the traders and the volume. livecoin might seem fishy to some, but it is one of the few exchanges without kyc, and even though the swap and its followups were handled strangely sometimes, there are very few people, who have had real fallouts with livecoin - the best known dane within discord has a rather discouraging story, but i used livecoin for two years and never had any major problems. there are other exchanges that will support xsn  in the foreseeable future (abcc, bitfineon) and early next month there will be a proof of concept of the dex, though looking at lightning nodes xsn is obviously taking a front row position.

so all in all, cryptopia hack bad, livecoin quite alright and other exchanges around the corner. Most importantly the failure of centralized exchanges is not really more than a minor inconvenience for the coins price, but a major win on the dex nevertheless. with some perspective it just examplifies why xsn is doing the right thing

secondly tpos will be integrated into the mn network, therfore enabling one click tpos solutions for at the moment 1714 contracts, which is a minor hit for merchants, but a major win for accessability, which in my opinion was one of the main problems of tpos until now. if i wanted to trustlessly stake my coins i still had to either know my way around a vps, or go to discord for a merchant, now trustless doesn't include human interaction anymore, which seems a lot more appropriate.

thirdly ledger seems to move, they even are delisting posw (should have done that about a year ago), but nevertheless this companys failure to stay true to a lifelong support contract is striking, so yeah, ledger get your fucking job done, you asswipes are one of the reasons why xsn is that low. xeeda on the other hand ran into some delays, and the old rule stands: never preorder anything. never.

so trustlessness will be achieved through moving to the mn network, hardware wallet producers are as fishy as gaming developers when it comes to preorders and ledger simply is an asshole company, which does not give a shit about xsn, or even contracts.

[Yankeeruinx]

XSN Viper Hardware seems to be coming along nicely.

https://twitter.com/XSNofficial/status/1088401906341462017

Our engineers have completed an initial version and design of our PCB board for $XSN VIPER (hardware Lightning router). Firmware security and stability tests are now underway #LightningNetwork #blockchaintechnology #coldstorage

[Yankeeruinx]

Announcement on the Discord:

@everyone First round of testing the XSN multi currency (light) wallet is complete. We are pleased with the results and will open 2nd/ 3rd  rounds to select community members soon

As we have been getting questions about the given market conditions, wanted to take a moment and publicly address this. Rest assured our team has an active monthly treasury and have budgeted to survive in these conditions. There are also reserves & war chests available if the situation calls giving us more than enough to execute and operate for extended periods to get needed work done.

We understand that working hard and delivering now will result in higher payoffs, and more opportunities for the project ahead. With that being said our team is heavily cost efficient and we are accustomed + experienced with any and all bootstrapped development

We are excited to show our light multi currency wallet we’ve been working on and to show the one click swap demo we are preparing as well (the technology behind our DEX)

Looks like the new Wallet is close with one click Lightning Swaps.

[Yankeeruinx]

XSN is now officially supported on Ledger devices:

https://twitter.com/LedgerHQ/status/1092411134018240513

Great News: @KomodoPlatform support for Ledger Live's back for the Nano S! The @XSNofficial app is also available for the Nano S & Ledger Blue! It concerns a native Ledger Live integration

Updating to Ledger Live 1.3.4 is required

[Yankeeruinx]

New Telegram Bot to notify you of any TPoS/PoS/MN rewards. Also will tell you of any incoming/outgoing transaction on an address, very handy. Works great have been using it for a few days now, very simple and straightforward to use.

https://twitter.com/XSNofficial/status/1093101245399789568

Monitor your $XSN addresses with our new Telegram monitoring bot. Instant notifications for new transactions from/to your address, when you receive a reward from your #Masternodes or #TPoS and check your balance at any time. Get started: http://t.me/XSN_Monitor_Bot  #Telegram

http://t.me/XSN_Monitor_Bot