It blows my mind that Stakenet hasn't been mentioned here much lately. It's one of the most promising projects I know off currently for a wide variety of reasons actually.
They are probably the project that has developed the most upon
Lightning Transctions.
The Lightning Network is supposed to be able to scale Bitcoin, and while there has been a lot of problems along the way the
X9 team behind Stakenet never gave up on it.
They helped Litecoin implementing it on mainnet, before they did it on their own. Source:
https://litecoin-foundation.org/lightning-network-collaboration-with-x-9-developers/This means XSN was the third project next to BTC and LTC to implement Lightning Transactions onto mainnet.
When implementing lightning channels on a network of 2000+ masternodes it all becomes very very powerful and useful. While most masternode projects are complete trash, Stakenet actually innovated on the idea of creating a whole eco-system based on masternodes who's gonna run everything in the background. Decentralization is KEY, and this solution makes one of the most decentralized networks out there by utilizing a wide variety of jobs attached to all these masternodes.
Jobs of XSN Masternodes:* Lightning Dex
* One click instant Lightning Swaps (NOT Atomic Swaps)
* DEX Aggregator
* Masternode escrow services
* Masternode based oracles/arbitration
* CCPoS - Staking rewards in any other coins
* Tor, PrivateSend, random hop secrets
* Masternode's collateral backed stable coin
* Lightning dApps
* TPoS - Hosting of Trustless Cold staking contracts
* Voting Delegates
* Automated payment of node operators
* Masternode Managers
* Multiple keys for Masternodes
* Enhancements for Smart Contracts and dApps
* Masternode reward split
* Masternodes Quorums Autonomous Swaps
* Cross-Chain dApp infrastructure
* Watchtower services
Stakenet was the inventor of
Cold Staking (TPOS -
Trustless Proof Of Stake) - Which is by far the best cold staking solution out there. Cold staking requires a merchant, who will run a VPS that will have access to a staking "key". This shared staking key will allow for your coins to stake, even in cold storage. The merchant wont have access to your coins, and can't move them.
The merchant decides the fee he will take when running the merchant node, generally speaking the more coins you own, the lesser the fee.
If you are a small holder, you can use
Stakenet's Pooled Staking Service, which is a centralized service, so use it for small amounts only.
Stakenet has other services too, such as
Masternode As A Service, and
Masternode Monitoring Service - If you own
15,000 XSN you're able to setup a masternode on the network. Masternodes can be a pain for most newbies to setup and maintain, but with this service anyone can setup one in a few minutes.
All this with 100% control of your own coins, they never leave your wallet. Stakenet hosts and maintains the VPS server that will keep your masternode running, they will even do maintenance if something needs to be upgraded such as the wallet itself running the masternode.
The masternode monitoring service will keep you up to date with the status of your masternodes, and will send you an email if your node goes offline. This is pretty smart, since you don't even need to open your wallet everyday to make sure everything is running, you can simply log in to your Cloud account on:
https://cloud.stakenet.io and check everything on the go.
The most exciting part is the passive income which you'll get by running a masternode. Right now beta testing of the
Stakenet Wallet is taking place.
This is a
Multi Currency Lightning Wallet with inbuilt 1-click Lightning Transactions and TOR-integration for privacy. This wallet will be available for Android And IOS as well real soon, here is a preview picture of it:
The cool thing about this wallet is that
everyone will benefit from it. Even if you don't have any interest in the project, the wallet is still extremely useful as a tool for trading, and scalping profits whenever BTC goes into a bullrun.
If you're a strong believer in BTC, or LTC this wallet will be very handy to store your coins in, here's why:
USDT is moving to lightning soon, this means that soon, you'll be able to tether up inside your own wallet - with 100% control of your own coins, for a fraction of the cost you normally pay to do so (over the lightning network). This will happen almost instantly as these transactions are incredibly fast. Everything is handled by the masternode network in the background.
Never have lightning transactions been so easy, and available to the average Joe.
Imagine how many fees is gonna pile up by huge whales who wants to stay
anonymous and in control of their own coins all the time. All these fees will be collected and distributed among all the masternodes in the eco system.
Next thing on the roadmap is the
Lightning DEX. A DEX that will run entirely by masternodes. The general problem with DEX's today is the liquidity problem, and the slow proccess of trading which is a pain in the butt for the average Joe to use, hence why you see such a low volume on them.
The X9 team behind Stakenet have come up with a genius plan to solve that issue:
Liquidity: Solved with their
DEX Aggregator solution. The Aggregator combines multiple DEX order books together, and makes sure you get the best deal on your trades. It adds a ton of liquidity to the network. The fees collected will be used to
buy-back XSN, and distribute them to the masternodes running the eco-systemSpeed:If you trade lightning compatible coins on the network you can trade pretty much instantly, just like any other DEX. The masternode network will host all the chains supported by the DEX, this means that you as a
user wont have to: Sync With The Network
Register To Anything
Do Any Form Of KYC (Know Your Customer)Regulation is tumbling down on every single exchange out there, even IDEX just recently announced they'll force KYC on their users, which quite frankly is scaring people away.
Stakenet is SO decentralized, that once they have launched their DEX, even if they where FORCED TO: They CAN'T stop the DEX from running. . The network is essentially a peer 2 peer solution which you can't shut down, same reason why you can't shut down the internet in fact.
Price prediction: I believe Stakenet is developing the future. It's pretty clear that everyone HATES KYC and regulation at this point. Cryptocurrencies was never meant to be used as it is today. Centralized exchanges have too much monopoly over the market, and they are hacked left and right.
I personally believe XSN could go
50x and beyond that at this very moment, mostly because I believe the passive income aspect of their
Stakenet Wallet, and their
Lightning DEX will drive the price up a LOT, once everything is up to speed.
The project will market itself once it's up and running.
The only thing they lack at this very moment is a decent exchange listing to put them up in the top 100 of Coinmarketcap. Even without that, their DEX solution will get people talking soon. It's gonna be very powerful with the constant XSN buy backs, and their RSB Rewards model will make sure some of the total supply is burned.
Do your own research on this one. Read the roadmap, and the white paper which covers way more than I did here, among other great things they'll develop (Including their
own hardware wallet called VIPER)
Wow a very clean and decent blogpost about Stakenet! It looks promising as ever an it needs much support. I hope they acquire decent listing already to be included on the CMC Top 100. Now, a need for me to have additional masternodes for this project.
