Decentralized Finance or "DEFI" has become a hot trend, but it's not a new concept. In fact, Satoshi created Bitcoin for the explicit purpose creating a DEFI environment where people could be their own "bank." Anyone in crypto during the 2017 bull run knows Bitcoin was not able to accomplish this goal.
According to bitinfocharts.com/comparison/bitcoin-transactionfees.html, at the peak on December 22, 2017, the average Bitcoin transaction fee was $55.16 USD. If you bought $100 worth of Bitcoin on Binance for example, it would cost you $55.16 to transfer it to your wallet. Over 50% of your value was gone to fees. In addition, due to network congestion, miners were unable to keep up and transfer speeds were extremely slow.
To fix this problem, Bitcoin invented Lightning Network ("LN") and Ethereum invented Raiden Network ("Raiden") as Layer 2 solutions to solve the above problem. These solutions work well and accomplish their intended purpose, but adoption is still low. There are no practical applications to bring these innovations to the mass market. XSN’s purpose is to leverage LN and Raiden to create DEFI suite of applications to ultimately accomplish Satoshi’s original goal. The first major implementation, was Trustless Proof of Stake, which allows users to stake and earn while remaining offline similar to the way their cash or investments earn without constant involvement.
More recently, XSN has created the World's first DEX with LN and Raiden integration. XSN has bridged the 2 to allow seamless peer to peer instant swaps that are essentially feeless. See this video for further explanation: youtube.com/watch?v=e2MKOXXg048.
All other “DEFI” projects are on chain, and therefore vulnerable to the commercial problems inherent in Bitcoin. There are some projects attempting other innovations, such as side-chains, but they have security issues. See describing L2 vs. Sidechains - twitter.com/XSNofficial/status/1291064516856299525
Austin Anderson
Why don’t you call it by its original name, POSW?
Carson Bennett
Because it's not POSW, that was a different project with a different team. POSW holders are very lucky Stakenet took over, saved a lot of people's money.
yes you do. and fast. you have less than 3 weeks to get in before the first big pump. Next will come in a few months with the full raiden integration. After that we're on a rocket ship to Alpha Centauri
Connor Rivera
we need more ppl trading, this shit isnt gonna take off soon. It has almost stopped, you know what happends afterwards, right?
Adrian Hall
i dont understand. volume is at 2mm. up 100% today on livecoin according to coingeko?
Hudson Morales
well yes, IF there is no technical problems on the way. Cant believe ppl are actually spending a small fortune on investing in One project. Stupid.
Jonathan Miller
going all in on anything is stupid. I see xsn as high risk high reward -- either it works or it doesn't -- and if it doesn't its going to zero but if it does, then the sky is the limit
Nathan Smith
Rofl. You can test the fucking dex now.
Fucking thing works
Asher Martinez
yes, you can do some swaps, but the project is faaar from complete. look at the roadmap. This thing isn't fully operational until the its run by the masternodes, which has to be well over a year away. So much can go wrong/happen between then
Dominic Powell
I'm sitting on 3 MNs waiting for this to moon. I've been in for 2 years now. The upside is too big to ignore.
