Have you every wondered what is driving prices of cryptocurrencies.
From soaring levels of late 2017, prices have truly been all over the place since. For those who appreciate the long term implications of things like blockchain technology and its potential to alter our financial system, not to mention most every other element of society, wild short term price fluctuations can distract us from getting the most long term benefits.
Putting aside the purely speculative periods there are several fundamental issues that have been plaguing investors that Stakenet is dedicated to solving. So, let’s start by looking at the three most pressing: security, speed and simplicity.
Security
For all of the rock solid structure of a blockchain, hackers and other bad actors are absconding with millions in crypto assets every month. True, some of these digital heists have been recovered and the total losses amount to a small fraction of total crypto assets.
But there is no doubt that the lack of security is a big factor in making or breaking investor confidence. Without confidence it will be impossible for cryptocurrencies to gain mass acceptance.
Speed
Cryptocurrencies today are in roughly the same spot as the Internet during the 1990’s when most of the world relied on slow speed dialup connections. Until now Bitcoin transactions averaged fewer than 10 per second while Ethereum was only slightly faster at 15. Compare this with payment processing giant Visa, at 100,000 per second and you can appreciate how much cryptocurrencies need to improve.
Stakenet’s Proof of Stake network is moving forward with Gen IV architecture.
Simplicity
This is very important and is often overlooked. Only about 8% of Americans own any cryptocurrency and 80% of those owners have limited their ownership to either Bitcoin or Ether the coin of Ethereum. One reason for this is the way exchanges are organized. In order to navigate smoothly you need an advanced degree in engineering.
Of the more than 500 exchanges in operation, only Coinbase is designed for the beginning investor. It’s simple, user friendly website is a snap for about anyone to open an account and enter orders.
As a result, Coinbase ranks tops in size of crypto exchanges. Presently, however, Coinbase trades only the largest coins: Bitcoin, Bitcoin Cash, Ether and Litecoin.
For investors seeking access to the other 1600 cyrptocurrencies, they have found complex and confusing trips though strange and dissimilar exchanges often having to open multiple accounts in order to have a complete selection.
Simplicity will open the door for more retail investors and more funds into the market. Stakenet is changing things so everyone is on a level playing field.
Stakenet: The Gift of Simplicity, Speed and Security
Stakenet XSN is creating the digital worlds first truly decentralized cryptocurrency exchange run by masternodes. This is all being accomplished by building the world’s first Trustless Proof of Stake (TPoS) coin.
TPoS is a type of algorithm that allows a cryptocurrency network like Stakenet to achieve distributed consensus faster than Proof of Work, in common use until now. Instead of using energy intensive mining to achieve consensus, TPoS rewards coin holders or stakers.
Because Stakenet uses a Trustless Proof of Stake (TPoS) blockchain, this makes buying, storing and staking XSN easy for nontechnical people. This means that you can hand over your staking rights to a 3rd party, without ever giving them access to your funds. It’s akin to having a savings account with a bank that earns interest, but still holding the cash in your wallet. Imagine the impact that this may have in countries where governments are legally allowed to sieze funds in their citizens bank accounts!
Cold Staking For The Ultimate Security
Holders of XSN can earn staking rewards for protecting the blockchain through staking rewards, while their coins remain safely offline in a secure coldwallet. With conventional Proof of Work blockchains like gen I Bitcoin, these rewards were paid to independent miners. With Stakenet, the rewards are paid directly to holders of XSN.
Staking is a reward POS coin holders receive for supporting the network simply by holding coins and running a node. As a staker your wallet represents a node of coins that grow as long as you hold coins.
Stakenet allows users to stake various cryptocurrencies in one single wallet, to trade at a decentralized exchange, which is entirely provided by masternodes and empowers its user to execute swaps between different blockchains.
What Makes Stakenet Different
What sets Stakenet apart is the use of cold staking. Cold staking makes it possible for XSN holders to stake “offline” coins with no risk of being hacked or exposing provate keys to the network.
Security With Benefits
As an owner of XSN you can conveniently stake your XSN coins even while holding this crypto on super safe devices like the Ledger Nano 5.
This game-changing feature allows XSN holders the ability to widely diversify their crypto portfolio without the need to have a PC or laptop continuously connected to a network.
The security of offline storage not only benefits individual investors but addresses an important custody issue that has restrained the participation of major institutional investors. If this is addresses, expect a lot more institutional money to flow into the market.
Atomic Power
Stakenet allows XSN holders to benefit from a Cross Chain Proof of Stake (CCPoS) service. This offers the ability to stake over 500 POS cryptocurrencies and do atomic swaps from one single wallet and to trade at a single decentralized, hyper safe exchange.
Atomic swaps involve cross-chain trading of multiple cryptocurrencies without the need to trust a third party. This streamline technology is revolutionizing the way digital asset investors transact crypto exchanges. As a retail investor you can stake you will no longer need to worry about the hassle (and associated costs) of exchanging one coin into another another coin to make changes to your portfolio. Imagine if it was as frictionless to manage and balance your traditional investment portfolio.
Masternodes Create Enhanced Rewards
Imagine earning passive income on your XSN while it is safely ensconced in your Ledger Nano 5. If this idea sounds a lot like a bank savings account, consider the following. The average annual interest paid by the five largest commercial banks in America is currently less than 0.025%. The current guaranteed annual striking rate is 5% and staking rewards are paid daily.
XSN holders of at least 15,000 digital coins represent a Stakenet Masternode. In addition to regular blockrewards, Masternode owners have DEXs’ trading fees and fees for running certain TOR network services.
In today’s terms, a Masternode can be created for less than $7000 that provides investors with a high level of crypto diversification while earning generous passive income every day.
While only 8% of Americans currently own cryptocurrencies, the Stakenet ecosystem is lowering the barrier to crypto ownership.
Institutions are rapidly joining individual investors. The publication Autonomous NEXT recently reported a record high of 226 global hedge funds focused exclusively on cryptocurrencies. That is more than double the number as recently as last October.
For Masternode owners this translates into an enormous upside on their investment.
In most businesses, competition means worsen business conditions and diminished profits. Fortunately, this is not the case with cryptocurrencies in general and staking in particular. Stakenet has created a solution. The number and size of stakers only helps to fuel the type of liquidity needed to fuel explosive growth.
Summary
The features that the Stakenet team are developing address the key constraints of custody, simplicity and speed, that are preventing larger number of institutional and retail investors from investing into crypto. Once this issues are addressed
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