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.
Heres someone much more qualified than me, Andreas Antonopoulos, to explain this
Can you give a short rundown on what Raiden and Hydra are?
Charles Martin
Raiden is a layer 2 protocol similar to Lightning Network.
It is compatible with any token that is drawing consensus with the Eth blockchain and is compatible with ERC-20 standards.
Right now they're heavily partnered with Stakenet in developing cross-chain interoperability, and porting of the features and capabilities of their layer 2 solution to multiple OSes.
We've said for a while that a single MN is a make it stack. It's currently just a few thoudsand. The massive ROI from Hydra and Block Rewards will easily allow you to make twice a median salary and there's a great chance you'll make somewhere close to a million during altseason, especially if you have more than one.
Ethan Foster
>suicide 1 MN >make it 10 MN
Adam Flores
loopring is ERC20 only and doesnt provide the overall big picture solution that Stakenet is building
There is links in here, and a guide linked down bottom too. Keep in mind it's still in beta, but I haven't had any problems.
Nathan Jenkins
well when you come up with a better alternative we'll all invest. until then, strap in.
Adam Walker
How much longer till this shit show is a dollar? I'm ready to retire and live off block rewards. Just need $800/wk. Maybe a little less since they fucked up the wallet update and a good 900 nodes were taken down due to a bug.
Chart is looking very healthy and the price has been consolidating at this level for a while now with strong support. I would say we are still in the stealth accumulation phase and will slowly climb up to one dollar as updates are rolled out, we head towards the public DEX and the overall market continues to climb.
Too many fucking whales having ridiculously large bags, not buying into this to get dumped on.
Ian Ross
When $1?
Cooper Allen
atleast it means they will pump it, then dump. Just sell on the pump
Easton Cook
I guess masternode rewards would help discourage whales dumping?
Asher Reed
>Too many fucking whales having ridiculously large bags
what asset are you referring too? because this applies to any of them worth having.
Asher Morales
xsnexplorer.io/ The top 100 richest addresses hold 100k-2M of XSN, that’s an absurd amount. Imagine XSN at 1$, that’s $100k up to $2M we’re talking about.
Robert Thompson
>Imagine XSN at 1$, that’s $100k up to $2M we’re talking about.
you realise that is literally nothing right? in terms of volume?
look at the top 100 holders of any successful coin/stock and tell me what the total volume would be.
Aaron Russell
I just got my $2300 from uni. Should I buy XSN? Is this seriously the right thing to do? I want to make it boys and I believe that there are true gems on this godforsaken board. I’m such a newfag I have to learn how to buy it and store it safely and all that nevermind even getting into staking and all of that fuss. Help a retard out, plox
Ethan Rivera
Newish fag too, put my uni into stakenet and put it in the cloud wallet to stake
