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February 25, 2021, 06:29:52 PM |
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Hello, I'm a newbie and an idealistic nerd who believed that decentralization is an important aspect of any crypto protocol which is looking to be adopted worldwide for use as a currency or in business. Decentralization is a KEY element for building trustless/impartial networks.
With the increasing number of emerging blockchains around the world, there is one crypto platform that stands first in showcasing the trustless interchain economy. Introducing the Stakenet, a lightning network-ready open-source platform for decentralized applications joined with its cryptocurrency called XSN. Stakenet's blockchain is decentralized, versatile, and future-proof, ready to accommodate the necessary changes for further technological development and expansion. Stakenet functions through the support and participation of its community and volunteers, by staking their coins on hardware wallets or running a masternode, the Stakenet's quiddity continues to prosper and grow. Diving deeper into Stakenet's lore, here are the promising features the Stakenet network can offer:
Lightning Network and Masternode/s: Reforged and United – as defined by the Stakenet community, the Lightning Network is a second layer solution to enable peer-to-peer off-chain transactions within a blockchain or between and among different blockchains. It requires providers to store their coins in channels to secure liquidity and to route remittances between different nodes. On the other hand, a masternode is a dedicated full node of a blockchain residing on servers around the world, ensuring decentralization and redundancy. To run a masternode, a valid collateral output of fifteen thousand (15,000) coins for each masternode is required. Stakenet's masternodes are aimed to be one of the most powerful stations within the crypto industry, earning a passive income depending on the services provided.
Stakenet blockchain has established its masternodes to be lightning network-ready. This hallmark allows the instant and virtually feeless transactions of cryptocurrency among its users, thereby making Stakenet more efficient and effective compared to other cryptocurrencies. The use of lightning network nodes in verifying transactions is way more powerful and works much better compared to a trading environment.
Staking Nodes – one of the two types of nodes alongside Stakenet's masternodes that empowers the Stakenet blockchain. A user can participate by running a Staking node supported by their XSN coins, allowing them to passively benefit and earn. The staking nodes are tasked with moving, validating, and securing the Stakenet network.
Stakenet XSN Treasury – Stakenet's treasury is a cryptographically sealed public address that holds, stores, and secures assets allocated to it by the network. This secured vault cumulates funds that can be used for any Stakenet related development, commercial engagements, and many more. A total of ten (10) percent of Stakenet's block rewards are kept in the treasury. To make it fair for the community, the treasury is effectively owned by no one and everyone at the same time.
Governance – Stakenet offers an autonomous and democratic type of governance, there being no centralized leader. Stakenet holders can participate in the development mechanism of the system and can vote for possible innovations for the Stakenet network. To simply put, masternode owners also own voting rights where one (1) masternode shall be equal to one vote.
Decentralized Applications (dApps) and Services – the development team behind the Stakenet network is keeping their hands busy on establishing Stakenet dApps and services to which the proceeds are sent and distributed to XSN masternodes, Treasury, or even burned/removed. Stakenet holders and developers can participate in the development of dApps powered by Stakenet and its XSN masternodes, to which the developers and the XSN Core shall both gain profound benefits.
Over the past decade, the crypto community has continuously developed and is still growing in this day and age. The number of blockchain companies introducing their respective cryptocurrencies has also increased. For both old and new consumers in the crypto world, it is important to determine which network and crypto platforms have a flexible and strong structure that can adapt to the demands and challenges of the present time and the nearing future. The Stakenet community faithfully believes that the future will be in the formation of a global backend instead of being within a one chain rule; a blockchain mesh involving every chain, technology, and services created. Stakenet proposes its solution to establish a united network of different chains coordinating with each other under different interfaces.
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