Looked into Stakenet, and was impressed with their overall roadmap, and through some digging realized they are building their own DEX as well, but not any DEX (Atomic Swaps), but a Lightning based one.
This is pretty cool, since Lightning has seen SO much hate and critisism since the very beginning. There isn't really much of an incentive to run a Lightning node on the Bitcoin network, since it isn't profitable, but when utilizing it on a masternode network, already being paid in the first place to run (block rewards), you have a setup which quite frankly seems genius to me.
Their DEX is an integrated part of a multi currency wallet, currently in open beta testing. You can trade pretty near instantly, and it feels just like a centralized exchange, since you don't need to wait for blockchain confirmations.
Thoughts? This is just a small part of the overall Stakenet project, so it's crazy that this project isn't discussed more than it is.
I think the future belongs to Decentralized exchanges. Where no one can ban your account or suspends withdrawal and ask you for KYC. Stakenet DEX is pretty interesting from this point of view.
Lightning Network is crucial for Bitcoin Scalability problem. For example, I made a transaction every day with my friend Jack for a week long. Doing that transaction every day for a small amount of BTC will make the Network busy and sometimes take up to one hour for confirmations. By creating a Lightning channel between me and Jack I can transfer BTC how many times we want instantly without making the network busy.
And finally, after the final transaction between Jack and me, we should close the Lightning channel and record our final balance to the BTC network.
Stakenet is using the Lightning network in a DEX. Exciting idea.
