Welcome to my favorite place! Jul 1 Q&A — What makes Stakenet $XSN a genuine cryptocurrency project? Stakenet $XSN is a US-based cryptocurrency with its origins starting back in 2015. Stakenet’s mission is to become broadly adopted by the general public and to be the leading project in crypto asset storage which will be realized by their innovative and wildly productive team and developers.In this article, I will try to dive into Stakenet, to find the gold nuggets hidden in the team, the project, the tech, and the vision/mission. My biggest personal takeaway from doing my intense research about the Stakenet project is the fact that the developer team that is working 60–80h weeks, and they deliver on time, every time. They have an incredible ability to deliver a lot of brand new tech on a much shorter timeframe which even the biggest projects in the market are struggling to do. Likewise, we are looking at a team that at any given time put 100% focus on a working product, over growing in popularity or price for that matter. It is my experience that price-fluctuations, whether that is up or down, never influenced the team and their ability to stay focused on reaching their quarterly milestones.
No single objective seems to be too much of a challenge for the developer team to handle — for this reason, we have a development team that is working on the same objectives as many different projects but combined it all into one masterplan for Stakenet and the cryptocurrency space in general.
More on this later. I reached out to the Stakenet Community on their discord https://discord.gg/cyF5yCA to ask them what is their personal takeaways when it comes to expressing their opinion on what it is that makes Stakenet such a genuine project. I find their community to be extremely kind and helpful — if you have any questions or need assistance, both the community and the team moderators are always there to help you and to answer you.Here are some of the answers that I got from the discord community, which I would like to highlight and give my opinion on. The takeaway by @Yankeeruinx“ What I like about the Stakenet team is; what you see is what you get and there are no smoke n’ mirrors here. Everyone is always working super hard to deliver a great product.
The developer team is able to accomplish things in an amazingly short period of time, that other teams simply cannot compete with. As for the vision of Stakenet itself, I like that it is not following the market but leading it through innovative tech, bringing things never done before, such as Trustless Proof of Stake /TPOS, Cross Chain Proof of Stake /CCPOS, Cold Exchanging and a decentralized exchange, or DEX for short, completely run by their master node network, with no centralized component. The team is likewise lowering the barrier of entry on things like staking and running a master node by offering such services through https://stakenet.
io for example. Looking further ahead, Stakenet is positioning itself to be a leading provider for Cross Chain Connectivity, which will provide solutions for the industry as a whole, which makes working on and for XSN very exciting. ” For those who do not know Yankeeruinx, he is a team member working on the business development side of Stakenet, helping to find new areas to expand the project into and to find new partnerships etc. I agree on the most part of Yankee’s takeaway, and especially the focus on Stakenet being market leaders in terms of bringing new tech to the market.
New tech that not only $XSN can utilize, but innovations that other cryptocurrencies can adapt to and implement into their own product.
One example would be the scenario of another coin forking off the Stakenet blockchain, enabling TPOS for their coin. This would expand the TPOS services to a whole new level since merchants can double their business by integrating this new coin into their activities. I personally think that merchants who got it all figured out early, will see massive profits throughout the next couple years, not only from the TPOS of $XSN but from all the coins forking off of the blockchain.
Takeaway by @ZRebel“ Trustless proof of stake itself, makes more people want to stake, resulting in a more secure blockchain,” he said, and continued: “with other proof of stake currencies, people tend to only stake only for the high ROI, but this is not the case for XSN. ” ZRebel is part of the Stakenet Army, an initiative by the Stakenet Public Relations agent Wesley Forgione. The Stakenet Army was initiated to spread the word about Stakenet and even though it sounds rough, it may not be what you think it is. The Stakenet Army is full of kind-hearted people who care a lot for the project.
To expand on ZRebel’s thought, I would like to comment on the fact that yes, TPOS does make more people stake their coins, therefore securing the network in the meantime. TPOS is a Stakenet invention, that allows a merchant to stake other people’s coins for a commission of the stake rewards generated, without the client (the guy with the $XSN) having to trust the merchant, since the merchant cannot move the funds from this shared address, in which the $XSN is being staked. This allows the coins to be held in cold storage, while the merchant stakes the coins through a so-called “shared key”, and while both the merchant and the client make a great profit. TPOS makes staking easy for the people, and it is safe to say that it is a great success as it is my belief that the rate of adoption is rising day by day. Concerning people’s reasons to stake their coins, ZRebel is probably right in assuming that most people stake their coins simply for the high ROI that any given POS coin may have to offer. With Stakenet it is quite the opposite, to say the least. Well, yes, people stake their $XSN to obtain more coins throughout their “HODL’ing”, but the people that I have talked to do it for the simplicity, the convenience, and the security incorporated in the tech by Stakenet. All the client needs to do is to open his or her wallet, enter an address given to him by the merchant, enter an agreed upon commission with the merchant, enter the amount and simply press “Stake”.
He or she can then close his or her wallet and over time see the rewards tick in. This section about TPOS was inspired by a description delivered by a merchant operating four TPOS contracts. For people with less than the usual 3–4k coins that are usually needed for staking with TPOS, Stakenet offers their new staking pool site https://stakenet.io .
Stakenet.io is a staking pool, multi-currency wallet, a master node monitoring site, an investment monitoring site, pooled master nodes, and a place to execute Atomic Swaps. It is my understanding that on launch date, features will be limited, but stakenet.io will be constantly expanding with new features week by week and month by month. The takeaway from @victor TPoS merchant“ Can you even imagine a better tool for a HODL’er? I mean, really, a HODL’er by definition prefers to hold his coins over day trading.
And with the future CCPOS, you can beat the profits of a day trader, while reducing the risk to zero. If you HODL, then by the end of the year, you can sit back with a nice profit on the number of coins that you HODL’ed.
Again with 0 risks. ” He added:“ Also, the DEX is absolutely necessary for this context we are facing about governments putting their noses everywhere, which in the long term could potentially kill the crypto principles. Though in a much more safe way than traditional exchanges, with the Stakenet DEX, you will always own your coins.
” Lastly;“ The project develops the two most useful spheres for crypto right now; CCPOS and their upcoming DEX.
Also, Pooled Masternodes, Offline Staking, and Pooled Staking are pretty cool, because what makes it amazing is that it’s all collected under the same roof of the Stakenet Ecosystem. There is nothing that can compare to the game-changing innovations that Stakenet brings to the market, such as the DEX and especially the CCPOS. And I am saying this while I am earning XSN by staking people’s coins through my TPOS service. ” Victor is a TPOS merchant and runs his service by staking other people’s coins.
I’m not entirely sure it can beat the profits of a talented day trader, but yes, CCPOS will be truly revolutionary, since it will allow any coin-holder to stake one coin, and have his or her rewards paid in another currency. I believe this feature will be widely used as people can “invest” their stake rewards in new currencies. It is likewise my impression that the Stakenet DEX will be very different from current solutions, since it will be the first DEX run entirely by master nodes, resulting in a completely decentralized system.
Takeaway from @Celebroom“ Solid fundamentals, innovative, reputation for meeting expectations/milestones, committed team, and mature community.
All of these earn the trust of folks who get involved.
” He added:“ I stumbled upon the coin earlier this year, and I’m still around for all the reasons I mentioned above. ” Celebroom is an Officer for the Stakenet Army.Solid fundamentals are as well one of the main factors that I found to be true when it comes to the Stakenet project.
Their developers are extremely talented, their technology is on point, their team members are professional and very, very helpful, and maybe best of all — they have thought of every possible challenge that cryptocurrencies face today, and found a way to solve each and every issue present with POS protocol and crypto in general today. The takeaway from @Emil Sterndorff “ My takeaway would be the fact that what so many projects are trying, and often failing to accomplish, we just nail it like it was nothing.
We’re a bit like the combination of the greatest and most ambitious projects, all under one roof, led by the most talented developers. ” He added;“ We simply do not cut corners around here.
” Emil Sterndorff is a team moderator for Stakenet along with a few others helping people with general questions and inquiries on the discord app. Emil also designed some avatars for their Stakenet Army, which I found at XSNArmyBlog ’s newest StakeART blog post at https://medium.
com/@Murkymerkleroot/stakeart-3-community-avatars-5bb963ebafbd Emil’s takeaway in a sense very similar to my own, but shorter. He adds that the Stakenet team simply does not cut any corners and it just proves to show that in the end what they strive to deliver is a quality product. It is likewise my impression that most projects over promise and under deliver, but with Stakenet, they just deliver what has been promised — and it is really that simple.
This was the last takeaway for now from the community at Stakenet. I hope this gave you at least one good reason to get involved in the project which I find to be very promising.
You can find me on the Stakenet discord: https://discord.gg/cyF5yCA at username @GeorgoUK In the scenario that you would like to donate to me, do so at the $XSN address: XxAyzKQqtKixxPzWW6ms4CDGV8r3D9ccDY .
