Do you believe the Lightning Network is the future of Bitcoin scalability and thus crypto as a whole?
Looking for one of the most promising and undervalued cryptocurrency project this year?
Well shit, I got something to teach you anons. Keep reading as I spoonfeed you all and drop some KNAWLEDGE.
Other urls found in this thread:
litecoin-foundation.org
google.com
stakenet.io
twitter.com
>What is Stakenet (XSN)?
Stakenet is a platform providing a trustless interchain economy using a Proof of Stake blockchain, with Lightning Network, Masternodes, and DApps such as a Lightning DEX. It is connected to other blockchains through Lightning Network, and strives to provide a highly secure cross-chain platform for cryptocurrencies where individuals can easily operate with any blockchain simply by using XSN; while also allowing the ability to build code-agnostic DApps on top of it. All of which will be powered by XSN Masternodes whom earn and collect fees for the services they provide.
Stakenet allows easy and secure staking of its currency XSN by using our invention Trustless Proof of Stake (TPoS), effectively achieving decentralized cold staking; this provides one of the highest levels of security among any PoS blockchain. TPoS allows users to cold stake their coins via smart contracts, which means you can stake your XSN from your cold wallet, removing any unnecessary security risk. With a combination of TPoS, the Lightning Network, and Cross-Chain Proof of Stake, you will be able to stake XSN from your own hardware wallet (or any other wallet) and receive rewards directly to it in other currencies, like Bitcoin.
XSN Masternodes create a massive network of computers that generate incredible amounts of computational power. They provide high-end network services and run the DApps that are built upon the blockchain. This massive network will power Stakenet dx (our Lightning DEX) by performing Lightning Swaps (Lightning Network Cross-Chain Atomic Swaps) between different coins, facilitate instant on-chain transactions by using InstantSend, and private transactions with PrivateSend. They will also host Lightning DApps, Lightning Channels, and provide liquidity to the Lightning Network with their collateral. XSN Masternodes will be one of the most powerful stations in crypto that earn passive streams of income for the services they provide.
XSN is the first PoS Masternode coin to successfully execute Lightning Network compatibility, and is among the first three, next to Bitcoin and Litecoin, to ever perform Lightning Swaps. One of the biggest differences between XSN and most other coins is that we don't want to impose a new standard, but rather adhere to the existing Bitcoin-Lightning (BTC/LN) one, which we think is the present and future of crypto. The advantage this provides over others is truly massive: we don't have to hope that our solution becomes the trend, we are always the trend alongside Bitcoin and Lightning. Stakenet can therefore interact with any Lightning Network compatible merchant, application, wallet, or upcoming crypto device.
XSN is the currency, gas and foundation of Stakenet. It has one second confirmation times and up to 240 per second on-chain transactions. Over Lightning Network, where the majority of the transactions will happen, XSN can reach billions and instant transactions per second. Thanks to XSN cross-chain capabilities you will be able to pay anyone that accepts Bitcoin (or any other Lightning Network compatible coin) seamlessly with your XSN, improving adoption on a massive scale as thousands of merchants already accept Bitcoin payments over LN.
Furthermore, Stakenet is building DApps (and will allow others to do the same with our DApp framework) running on its blockchain, such as the aforementioned Stakenet dx; as well as services like XSN Cloud, which improves the Stakenet user experience and help with adoption. These DApps and services will be integrated into the new multi-currency XSN Wallet, and will work in symbiosis with our hardware product - XSN Viper.
XSN Viper is the debut product from our XSN Hardware division - a hardware Lightning router that allows users to set up Lightning Network hubs for XSN, BTC, LTC, and collect fees. It will also be able to hold user's coins safely in cold storage by using a separate microcontroller that holds private keys and remains offline (only sends signatures), powered by our open-source firmware - XSN Excalibur (based on Trezor's reputable code). Users will also be able to operate with all supported coins in the multi-currency wallet to store, send, receive, run Masternodes, and exchange via our HW device. Support for multiple LN channels will also be added, as well as multiple Masternodes in later versions. Making XSN Viper not only just a useful product, but a worthwhile investment too.
This shit looks awesome, if they will do it normie friendly they can help with adoption of LN. Will look into this user.
>What is XSN used for and how is it useful?
XSN is a state of the art cryptocurrency that allows a peer-to-peer method of payment. It's money with unique properties not achievable by any central bank issued currency: decentralized, permissionless, trustless, censorship-resistant, immutable, smart (programmable), interoperable, fungible and secure (cannot be counterfeited). It's a medium of exchange used for real-world transactions on a global scale - including the transactional activities happening within the Stakenet financial ecosystem. These characteristics by themselves make XSN valuable, although there is much more to it.
Thanks to XSN Cross-Chain capabilities you will be able to pay anyone that accepts BTC (or any other Lightning Network compatible coin) seamlessly, improving adoption on a massive scale as thousands of merchants already accept LN Bitcoin payments. XSN is the first PoS Masternode coin to ever be Lightning Network compatible, and is among the first three, next to Bitcoin and Litecoin, to ever perform Lightning Swaps. We are adhered to the existing Bitcoin-Lightning (BTC/LN) standard. We don't have to hope that our solution becomes the trend like most cryptocurrencies do, we are always the trend alongside Bitcoin and Lightning.
You can generate a passive income in the form of XSN if you are providing value to the network either by Staking (with TPoS you can stake XSN in your hardware wallet and receive rewards in any other currency, like Bitcoin, directly to it and with no intermediaries or third party risks involved) or running a Masternode. These are incentivized by our economic model to keep running, creating a huge decentralized network of computers with insane computational power.
Therefore, XSN is the currency, gas, and foundation of Stakenet, as everything runs on top of it. All DApps and services running on our Masternode network will generate fees that will be paid back to them for providing their services. These fees will be paid in XSN in one way or another. Users won't even realize they have paid in XSN as it will all be handled by Lightning Swaps in the background. For example, in Stakenet dx, if someone were to swap BTC to LTC, the fee will be initially collected in BTC, however, this BTC will then be automatically converted into XSN via a Lightning Swap in the background and paid to XSN Masternodes. This economic model will provide a constant demand for XSN, with fees collected from the DApps constantly being converted to XSN and then distributed back to XSN Masternodes.
Stakenet's objective is to make XSN a highly usable coin:
· By improving its adoption and being able to pay anyone and everyone, even if they only accept BTC.
· By being pioneers in new technological advancements, like Lightning Network, Lightning Decentralized Exchanges, and the crypto hardware industry.
· By being one of the most secure blockchains, having a robust network and trustless operating environment.
· By building services and DApps on top of the Stakenet blockchain, like Stakenet dx (Lightning DEX), and allowing others to do the same with our DApp framework, creating a constant demand for XSN from the fees collected.
· By generating a passive income for both our Masternodes and stakers.
· By giving XSN holders a voice in a decentralized democracy, where casting votes decides and dictates the next moves of Stakenet.
>What's the difference between Atomic Swaps and Lightning Swaps?
Atomic Swaps are trustless cross-chain trading. They allow people to trade with one another directly from their wallets, without the need and risks of intermediaries. This is revolutionary, as you no longer need to trust any centralized entity in order to buy or sell crypto assets. They work with Hashed Timelock Contracts (HTLCs), a kind of smart contract.
Atomic Swaps (Cross-Chain Atomic Swaps), are done on-chain. This means they are limited by block size (not scalable), confirmation times (slow) and fees (expensive) inherent to the respective blockchains.
Lightning Swaps (Lightning Network Cross-Chain Atomic Swaps) are done off-chain over Lightning Network. Lightning Swaps are infinitely scalable, instant, and have little to no fees at all. So they don't have any of the on-chain Atomic Swaps limitations.
With the issues on-chain Atomic Swaps have, it's clear why Decentralized Exchanges haven't gained enough traction so far, they simply can't match the user experience of Centralized Exchanges. Lightning Swaps solve all of these major problems, so they could very well revolutionize the entire ecosystem.
The possibilities that arise are limitless, and considering the huge progress the amazing developers working on the Bitcoin-Lightning (BTC/LN) standard are making, it is clear to us that it will be the future. That is why Stakenet is leading on Lightning Network innovation, and it is among the first three, next to Bitcoin and Litecoin, to ever perform Lightning Swaps.
In December 2018, the head developers of Stakenet formalized a collaboration with the Litecoin Foundation to work on and further develop the Lightning Network.
litecoin-foundation.org
>What is Multi-currency Light Wallet?
Traditional multi-currency wallets usually meant that you have to download entire Blockchains for any assets you wanted to hold in it. Naturally this requires a lot of space when something like the BTC blockchain is over 200GB alone, additionally, it takes time to download and sync all that data. Our solution with the Multi-currency Light Wallet is to put our Masternodes to work and let them hold the blockchains for you while you just keep hold of your private keys. You interact with the blockchains via Lightning Invoices. This keeps the wallet extremely lightweight and fast so we are able to put it on any device like mobile, for example. It will also have a lot more functionality too like accessing the Stakenet dx and much more.
pic related
> Stakenet is building a decentralized exchange unlike any of the so-called DEXs on the market today. How will Stakenet ensure ease of use, liquidity, and speed?
Our mission from the start was to provide an exchange that is feature rich, has the speed of a centralized exchange with the safety of being in full control of your assets at all times. Recent exchange hacks have highlighted the need and demand for people to keep control of their funds which is exactly what we are going to do.
Stakenet dx will run on our Masternode network, this means once it’s running it can never be shut down, even we won’t be able to shut it down once running let alone anyone else. Stakenet dx will be available directly from the Multi-currency Light Wallet and assets will be traded via Lightning Swaps. Lightning Swaps allow instant conversion of assets so your assets will stay in your wallet, under your control right up until the moment they are sold which means you can enjoy the full benefits of holding them, like staking rewards for
example.
We are also working with Frank Amato who is a veteran of the trading industry working for the biggest financial institutions there is. Frank is helping to develop features, the user interfaces as well as provide insight into liquidity and how markets work. His knowledge about what features professional traders and institutions want from an exchange has been invaluable and is allowing us to build something with many features not yet seen in this space.
>What do XSN Masternodes do?
XSN Masternodes are aimed to be one of the most powerful stations in crypto. They will earn a passive income based on everything they will do:
· They will host and run Stakenet dx.
· They will host all blockchains needed to keep Stakenet dx decentralized and making sure users can perform swaps without needing to download entire blockchains.
· They will handle Lightning Swaps (Lightning Network Cross-Chain Atomic Swaps).
· They will facilitate instant and private on-chain transactions.
· They will host DApps.
· They will host Lightning Channels.
· They will use their Masternode collateral to provide Lightning Network (and Stakenet dx) liquidity.
While developers are working towards all of this, it is only the first steps of what XSN Masternodes will be capable of.
>What is Trustless Proof of Stake (TPoS)? How does it work?
You can stake XSN by leaving your wallet unlocked and running 24/7 with a positive balance, or you can stake with Trustless Proof of Stake. TPoS is a technology developed by Stakenet that allows users to trustlessly stake XSN by having a Merchantnode (a server which acts as a Staking node) do the staking for them while not having to share any spendable balance or private keys with it. This is done with a smart contract.
With TPoS, you can safely keep your coins anywhere, like in a hardware wallet, and they will be staking and growing over time, even while you sleep. Not having the coins exposed in the staking server is a huge step forward in terms of privacy and security.
You can run your own Merchantnode to trustlessly stake your own coins. Or you can also hire a Merchantnode from a third party to stake your coins for a small fee with no risks associated, as your funds always remain with you. Merchantnodes are provided by independent people called "Merchants" - a whole new market emerged from this technology. You can find them in our social channels, like in our Discord. Keep in mind that a server online 24/7 (Merchantnode) is always needed in order to run TPoS.
Having trustless and decentralized staking nodes with unique IPv4 addresses makes XSN one of the most secure PoS blockchain. Other cold staking solutions can't achieve this level of security, as they don't have as many nodes verifying the blockchain. Trustless Proof of Stake, in combination with Lightning Swaps, will allow users to stake XSN held in a hardware wallet and earn Bitcoin (or any other LN compatible coin) directly to this hardware wallet as rewards.
In a TPoS contract there are three entities: the Owner (wallet that owns the coins to be staked), the Merchant (wallet that creates the smart contract with the Owner and earns a commission) and the Merchantnode (the wallet from the Merchant that will be staking in a server online 24/7).
If you are a Merchant providing services to other Owners, you can use your own local wallet to act as the Merchant wallet where you will earn the commissions from all the TPoS contracts you have created - this Merchant's wallet, as well as the Owner's wallet, can both remain offline. Then you will have servers online 24/7 running the wallets acting as Merchantnodes and staking each Owner's coins.
If you are the Owner and want to TPoS your own coins without hiring third-party Merchants, you can do so and there are only two wallets involved in the process: the wallet with your coins (Owner), which can remain offline, and the wallet running in a server online 24/7 that will act both as Merchant and Merchantnode and will stake your coins. This wallet will earn the commission you set for the contract, as it's acting as a Merchant wallet. Since the minimum commission is 1%, this amount from the staking rewards would go to the Merchant+Merchantnode wallet. Most people decide to transfer this amount to his Owner's wallet once in a while.
It's funny how this threads are being ignored, while other shit projects gets so much attention. Really shows how many brainlets we got on Jow Forums
It is what it is. Smart money thats lurking in the shadows will pick up on it. Until then i'll keep going.
>Stakenet is on Ledger
XSN is one of only 24 projects currently supported by Ledger Live. Following the addition of XSN to Ledger, the team are now working on integrating TPoS to enable coldstaking directly from a Ledger device. The result: secure, safe and trustless staking.
Not only that, but XSN is also supported by Trezor as well.
Stakenet will have their own hardware, not this retarded shit.
Layered solutions like Lightning or Plasma will be essential to crypto maintaining streamlined payment channels- cryptoization will create a world where modern finance looks like airtraffic controllers directing capital from place to place.
google.com
>What is XSN Cloud?
XSN Cloud is not Stakenet. It is a small and centralized application where we (Stakenet.io website) offer blockchain services. It is designed to make the user experience better and easier for XSN users, thus helping with adoption. Cloud has nothing to do with the decentralized ecosystem of Stakenet. Stakenet's aim is to build a trustless interchain economy using the latest innovations in crypto, such as Lightning Network. It has nothing to do with TPoS either, as it is not compatible.
XSN Cloud features:
· Wallets that automatically stakes in a pool. Deposited users' coins are sent to one main address (called pool) that regularly receives many stakes, and are then distributed in real time.
· Monitoring services for Masternodes and TPoS contracts. Receive e-mail alerts if anything goes wrong.
· Masternodes-as-a-Service, a trustless Masternode hosting solution. Risk-free, as you remain in control of your coins at all times in your wallet.
· An ROI calculator for Masternodes and Staking.
XSN Cloud collects fees from the users for using these services. Fees are then sent to the Stakenet treasury to cover costs and further developments.
Users with large amounts of XSN must not deposit them in the Cloud wallets, and must not use the pooling staking solutions they provide. They should always stake on their own, with TPoS or common staking solutions, as their profitability will be higher and there will be no risks associated. XSN Cloud wallets are only suitable for newcomers with no experience and a low XSN balance - and we can't recommend them enough to move to a cold staking solution like TPoS as soon as possible. The rest of the services, like Masternodes-as-a-Service, are trustless solutions and are safe to use by everybody.
>How does the Masternode hosting service (MNaaS) in XSN Cloud work?
In short, you keep your coins safe in your own wallet and we set up a server to act as your Masternode using your coins as collateral for it. So you don't need to leave your computer online 24/7, and we take care of keeping it updated and running.
>roadmap?
Is casa node a competitor to Viper ?
Yes - it will be a Casa Node 2.0
>One-click Lightning Swaps
The foundation of Stakenet dx (Lightning DEX), allowing users to swap Lightning-enabled coins instantly with one click of a button.
Stakenet will create crypto’s first truly decentralized cryptocurrency exchange, run entirely by Masternodes. By doing so, Stakenet dx cannot be shut down by any third party, which makes it so unique. Stakenet dx will focus on usability, enabling even people who are not familiar with cryptocurrencies to trustlessly perform cryptocurrency swaps without the need of dealing with complicated wallets, or any additional technical requirements. Furthermore, Stakenet dx is a Lightning DEX, it will work by utilizing Lightning Swaps, not common on-chain Atomic Swaps as most other DEX do. Lightning Swaps are instant, practically fee-less, and infinitely scalable - achieving the user experience of a centralized exchange is not out of reach. This is something no other DEX out there can say currently.
>Cross-Chain Proof of Stake
CCPoS is a technology to empower XSN holders to stake XSN and receive rewards in any other coin.
Another XSN innovation under development is CCPoS. With this technology, we aim to enable users to stake XSN and receive rewards in any other coin. Herewith, individuals will be enabled with the flexibility to switch rewards on the fly to that new “hot coin” if they so desire. For example, XSN holders are empowered to stake XSN and get rewarded in Bitcoin, Litecoin, or Dash.
Heard you will have oracles, how is it going to work?
Bump
Wow wtf how come I've never heard of this token till now! I really like what I'm reading thx OP
It's a coin not a token, they have their own Blockchain.
Like the poster above said, XSN has its own blockchain