Stakenet is a Lightning Network-ready open-source platform for decentralized applications with its native cryptocurrency – XSN. It is powered by a Proof of Stake blockchain with trustless cold staking and Masternodes. Its use case is to provide a highly secure cross-chain infrastructure for these decentralized applications, where individuals can easily operate with any blockchain simply by using Stakenet and its native currency XSN.
Ok... but what does it actually do and solve?
The moonshot here is the DEX (Decentralised Exchange) that they are building. This is a lightning-network DEX with interchain capabilities. That means you could trade BTC directly for ETH; securely, instantly, cheaply and privately.
Right now, most crypto is traded to and from Centralised Exchanges like Binance. To buy and sell on these exchanges, you have to send your crypto wallets on that exchange. That means the exchanges have your private keys, and they have control over your funds. When you use a centralised exchange, you are no longer in control of your assets, and depend on the trustworthiness of middlemen. We have in the past of course seen infamous exit scams by centralised exchanges like Mt. Gox.
The alternative? Decentralised Exchanges. DEX's have no central authority and most importantly, your private keys(your crypto) never leavesYOUR possession and are never in anyone else's possession. So you can trade peer-to-peer without any of the drawbacks of Centralised Exchanges.
The problem is that this technology has not been perfected yet, and the DEX's that we have available to us now are not providing cheap, private, quick trading on a decentralised medium because of their technological inadequacies. Take Uniswap for example. This DEX accounts for over 60% of all DEX volume and facilitates trading of ERC-20 tokens, over the Ethereum blockchain. The problem? Because of the huge amount of transaction that are occurring over the Ethereum network, this has lead to congestion(too many transaction for the network to handle at one time) so the fees have increased dramatically. Another big problem? It's only for Ethereum. You cant for example, Buy LINK with BTC. You must use ETH.
The solution? Layer 2 protocols. These are layers built ON TOP of existing blockchains, that are designed to solve the transaction and scaling difficulties that crypto as a whole is facing today(and ultimately stopping mass adoption) The developers at Stakenet have seen the big picture, and have decided to implement the lightning network(a layer 2 protocol) into its DEX from the ground up. This will facilitate the functionalities of a DEX without any of the drawbacks of the CEX's and the DEX's we have today.
> Year 2020 > Buy 2 (two) XSN (StakeNet) MN (Masternodes) for the cheap price of $12k (twelve thousand united states dollars)
Bentley Evans
> Year 2026 > BTC is the official world currency > Cyberphunk is real > StakeNet Dex is now the back-end of the new economy facilitating billion transactions daily. From day-to-day payments and incentived social media posts to smart city communications and oracles. > Most 2020 billionaires missed the train and lost their wealth only to see a new elite emerge from their dark basements
Samuel Lewis
> Year 2027 > Decide to secure my status as the new elite by implanting my masternodes directly into my body. > Excess body heat is used to power the nodes. > To function, the nodes need a temperature of exactly 34 °C. > Implant one node into my left testicle, one into my right. > Balls are swole as fuck > Take a walk through the crowded city. > Old friend sees me and walks up to me. "Hey user. Remember me? You still owe me 3 BTC". > No big deal. Staking reward is 5BTC daily. > "Sure". > Take phone to send transaction > "Error. Masternodes offline." > Its December. Temperature is to low. Fuck. > Grab my swole balls and start fondling them. > People start looking. > "What the fuck are you doing there? Just send me my money!" > Minutes passes > Temperature increases. > Transaction confirmed.
Kevin Thompson
ur coin sucks noone cares about swapping non erc tokens all the innovation comes from eth
Josiah Sanders
> Year 2028 > Go to ice cream stand > Crowded place with many families > See kid crying. > Parents not around. > "Why are you crying?" > "I dont have enough money to pay for my icecream" > "Dont worry. I will pay" > Take phone to send transaction > "Error. Masternodes offline." > Its July. Temperature is too high. Fuck. > "Excuse me, I'd like to have two scoops of vanilla ice cream, please." > Unzip my pants in front of everybody. > Slowly dip still swole and now permanently red balls into the ice cream > Police arrives > "What's going on here? > "Hello Officers, I'm just powering up my masternodes." > "Okey enough of this shit. We are taking you to the kleros court"
Nolan Moore
Stakenet imbeciles keep posting these walls of pasta, and only people responding are the trannies from their discord.
Fudder says Stakenet is a good product and he would be bullish if not for marketing. The he goes on to list all the ways it's a scam when he says it's a good project. I guess he forgot to change to his cell phone when he posted part of it.
Juan Ramirez
they need to get off livecoin. it's embarrassing
Dylan Russell
I agree they need to be on more exchanges. Some place like CoinDeal would almost certainly list them.
Julian Garcia
i am a YoBit Man, like my ancestors before me
Jace Adams
Just use the DEX, problem solved
Alexander Myers
Price is going up, quick get the fudders and set up a well wall STAT
back in may 2019, okex listed stakenet on coinall. the european community showed a lot of support for that exchange and towards getting listed on okex itself. xsn, as a project, fit the qualifications okex uses in listing coins. okex ignored xsn and opted a bunch of now-forgotten literal whos instead. it didn't help back then as an okex listing would have been a nice shot in the arm after cryptopia got hacked. the european community that used okex slowly stopped using coinall from there and reverted back to trading on livecoin with the americans (coinall is region-blocked in us and has kyc) the xsn community as a whole used to be a lot more optimistic about working together with exchanges but i think we were all slowly redpilled against them.
Christopher Richardson
guys xsn just broke into my basement and drank all my beer selling 8k MNs
Joseph Harris
When profit? I'm still down 48.13% on my most recent purchase of 162.38k xsn. I took out a fucking loan. I thought it was going to be a dollar eom. I knew $5 was too much but the shills made a dollar seem reasonable enough. Down 40.1k and I've been in this shit since June of last year. It was a nice run up but it still hurts to see my stack go from six figs usd value to fucking shit all. Not even getting $200/wk from them now. What the hell happened here? The dream of living on mn income until link steaking feels like a distant dream now...
the channel thing is annoying. how can you even profit from this platform without being a daytrader?
>open 1btc channel capacity >set buy orders >token moons violently >now can't cash out full amount because i can only sell less than my channel capacity will allow
will they eventually let everyone open 500btc channels without needing the amount in your wallet first?
Angel Gray
they're called breadcrumbs faggot. they'll be legendary when a masternode is worth $100k in the next 18 months
Xavier Morgan
I really hope you're larping about a loan. I really hope you can pay that shit off, I think you'll make it but damn that's still silly.
Sebastian Peterson
lol nice FUD whale. really appreciate you dropping the price of a masternode in half this week. didn't think I'd be able to grab a few new ones this quickly
btw the masternode count continues to rise which proves the FUD is whale coordinated
Lucas Rodriguez
but lightning network is a scam
Logan Cruz
Now they're saying the devs are creating new masternodes from some mysteriously 9 million xsn number they made up. Honestly the fud changes so fast I can't keep up anymore.
