Stakenet (XSN) Coin Review : It Is Good Or Bad Review

About Stakenet (XSN)

Stakenet (XSN) 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 Mastern odes. 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.

Stakenet (XSN) While most associate the word stake with staking, stake has its roots in the economics of business administration and stands for far more than just passive income. Stakenet is more than staking; it is a network for stakeholders. To create a common understanding, we need to define the term network and connect it to the appropriate definition of a stake and a stakeholder.

Stakenet (XSN) Storage Key Points

The Masternodes

Responsible for providing high-end network services and running dApps utilizing XSN, such as our Lightning DEX. They create a massive network of computers with an incredible computational power for Stakenet. The possibilities are endless. To run a Masternode you need 15 000 XSN.

The Stakenodes

Responsible for moving, validating, and securing the Stakenet network. Anybody can be a staker by running a Stakenode, regardless of how many coins they own. Merchantnodes are a kind of Stakenodes designed especially for cold staking (TPoS).

The Smart Digital Money

XSN is the cryptocurrency that powers Stakenet. It runs on a highly secure blockchain with Masternodes, Lightning Network, and decentralized applications

Cross-Chain Capabilities

XSN is able to interact with other blockchains, opening an infinite range of opportunities. Cross-Chain Proof of Stake technology will allow you to stake XSN and earn rewards in Bitcoin trustlessly, with no intermediates or risks involved. XSN is one of the first coins to ever perform Lightning Network Cross-Chain Atomic Swaps, which are the foundation of Stakenet DEX

Lightning Network

We adhere to the existing Bitcoin/Lightning Network protocol. With XSN you can make payments in any currency over LN; even if a merchant only accepts BTC, you can pay it seamlessly using your XSN. XSN has instant and essentially free transactions, with a theoretical output of unlimited transactions per second. Unimaginable by traditional money. objective is to make XSN a highly usable coin, and be among the most secure by having a trustless operating environment.

Treasury

The treasury is a cryptographically sealed public address that holds money allocated to it by the network

10% of the block rewards go to the treasury.

Used to fund any Stakenet related development, project, marketing campaign, et cetera

No centralized entity owns or has access to the money in the treasury.

Funds proposals must be submitted and voted democratically by the Masternodes.

It is effectively owned by no one and everyone at the same time.

Governance

The Stakenet’s governance is a truly decentralized democracy

Stakenet is a Decentralized Autonomous Organization that is run through unbreakable rules, encoded and maintained on our blockchain.

It doesn’t have a centralized leader. Instead, there is a management mechanism that takes credit for the needs of all individuals involved.

Stakenet holders govern the protocol and vote to implement the best possible innovations.

Masternode owners have voting rights — one Masternode equals one vote.

dApps and services

Different teams are innovating and building on top of Stakenet

The proceeds dApps and services bring are distributed among XSN Masternodes, sent to the Treasury for further developments, or burned (thus decreasing the supply of the coin). Either way, it is ensured the dApps and services built upon Stakenet will end up benefiting XSN.

The Stakenet dApp framework will enable anyone to develop powerful decentralized applications on top of Stakenet, powered by XSN Masternodes.