PASSIVE INCOME FOR THE DECENTRALIZED ERA WITH STAKENET
The vision of stakenet is to provide a decentralized bank for the decentralized era,XSN is not like any other product out there,it is a unique project that seeks to collaborate with other
projects,you can best put it as your web browser that offers you access to the amazing world of information or a market where you can trade anything. While these comparisons may look
strike deep down,the whole theme around XSN is to provide one stop for investors to earn passive income in the decentralized economy.
One unique feature that differentiates a blockchain from any other database out there is data integrity,this integrity is a consequence of individuals who offer up to be nodes in the network for incentives when they do certain functions
The function is mainly transaction that may occur when uses pay for certain services within that blockchain ecosystem.
THE PROBLEMS STAKENET SOLVE
Before Bitcoin,one must know that several attempts have been made in creating a digital currency that is void of any form of centralized control,bitcoin not only solves this problem but it solves this problem with the right incentives(in the form of transaction fees and newly minted coins). While Bitcoin’s method of achieving consensus is revolutionary,it comes at
the cost of huge financial burdens, the environment is impacted negatively, one cannot reuse the process,mining centralization due to the cost involved and many other problems, while it is good,one must seek other economical approaches to solve same problem,one of which a currency like Ethereum,the second largest cryptocurrency by market cap is transitioning to,it is called Proof of Stake, this seeks to achieve consensus by coin weight, unlike bitcoin where anyone with sufficient computing power can join the network as a miner even without having any amount of bitcoin, the proof of stake model requires intending miners to stake(stash up or locked up) the network coins in any volume as they wish, the greater the volume or stake a person has vested in the mining process,the higher the stake of one earning rewards
This system has some drawback in the fact that locking up coins is not never but one can only get block rewards commensurate to the time staked(up time), another pain is the fact
technicalities involved in setting up a node,one must know that not everyone is a computer geek as not everyone is a lawyer and viceversa and finally one is required to set up new wallet for every new coin they wish to stake,that is burdensome.
Stakenet enables the average joe access to one stop shop for all things staking,from our user friendly interface you can easily stake up any coins that you have,you may even decide to do pool staking or transact with merchants to stake your coins for a fee,all these while your coins sit in your cold wallet
Another amazing project within the stakenet ecosystem is the masternodes,with 15000 XSN locked, a VPS set up,one can start earning rewards,45% of block rewards from transactions goes to the masternodes,the other 45% goes to the stakers and the remaining 10% is sent to the Stakenet treasury for the further development of the platform
The masternode provides services ranging from acting as relay nodes for TOR browsing to voting to confirming transactions and also providing additional layer of security.
DEX POWERED BY MASTERNODES
At the inception of Bitcoin, it is difficult to buy bitcoins,there are few or no markets where people could sign up or walk to inorder to buy bitcoin,these were due to reasons from fearing of branded a criminal if institutions or individuals provide these services and the consequences that may come with it,so many individuals resorted to ways like the silk road, person to person purchases etc,the whole cryptocurrency has grown so far,10 years of active blockchain developments and markets have many goodies and many delectables,we have seen exchanges hacked,exchanges run off with users money or even locking out users of their funds.
We have seen frauds from wash trading, no audits of operations, high coin listing fees and even the restriction of certain users from certain region
Staknet is on the process of building a decentralized exchange that is not secured by known central servers but with a network of masternodes, no one can shut it down not even stakenet
It does not require users any form of KYC,anyone,anywhere can sign up to trade and keep their identity to themselves.
All trading fees will be given back to the masternodes that keep the exchange robust and secure.