/biz/ - Business & Finance

>>26015580
>>26015650
>Stakenet Solution

Crypto exchanges are the mainstay support for the cryptocurrency market as they allow trading of coins thus providing liquidity. Even after being such an important component of the crypto markets, most exchanges are centralized and are operated out of a single central server making them vulnerable to hacking or forced closure by the regulatory authorities. Also, once a user places a trade with a centralized exchange, their coins leave their possession and are stored with the exchange, thus making the user lose the utility and benefits that one receives from the coins. These are some of the potential risks which Stakenet aims to answer with its proposed Stakenet dx (Cross-Chain Lightning Swaps).

With important components such as the Multicurrency wallet and Lightning Swap in place, we are only a few steps away from creating this solution. There are some DEX’s which are currently operating but all of them have some vulnerabilities of centralization, whereas Stakenet would be the first to operate a completely decentralized solution which would be entirely run by Masternodes and not supported by a centralized entity.

>>25866607
>>25866634
>Stakenet Solution

Crypto exchanges are the mainstay support for the cryptocurrency market as they allow trading of coins thus providing liquidity. Even after being such an important component of the crypto markets, most exchanges are centralized and are operated out of a single central server making them vulnerable to hacking or forced closure by the regulatory authorities. Also, once a user places a trade with a centralized exchange, their coins leave their possession and are stored with the exchange, thus making the user lose the utility and benefits that one receives from the coins. These are some of the potential risks which Stakenet aims to answer with its proposed Stakenet dx (Cross-Chain Lightning Swaps).

With important components such as the Multicurrency wallet and Lightning Swap in place, we are only a few steps away from creating this solution. There are some DEX’s which are currently operating but all of them have some vulnerabilities of centralization, whereas Stakenet would be the first to operate a completely decentralized solution which would be entirely run by Masternodes and not supported by a centralized entity.

>>25822280
>>25822311
>Stakenet Solution

Crypto exchanges are the mainstay support for the cryptocurrency market as they allow trading of coins thus providing liquidity. Even after being such an important component of the crypto markets, most exchanges are centralized and are operated out of a single central server making them vulnerable to hacking or forced closure by the regulatory authorities. Also, once a user places a trade with a centralized exchange, their coins leave their possession and are stored with the exchange, thus making the user lose the utility and benefits that one receives from the coins. These are some of the potential risks which Stakenet aims to answer with its proposed Stakenet dx (Cross-Chain Lightning Swaps).

With important components such as the Multicurrency wallet and Lightning Swap in place, we are only a few steps away from creating this solution. There are some DEX’s which are currently operating but all of them have some vulnerabilities of centralization, whereas Stakenet would be the first to operate a completely decentralized solution which would be entirely run by Masternodes and not supported by a centralized entity.

>>20976133
>Lightning Swaps

With decentralization slowly finding its roots in today’s world, people are showing an inclination towards replacing centralized intermediates with decentralized ones. Although the acceptance of a complete decentralized organization is still distant, there has been the emergence of a lot of services which now help people in carrying out transactions without an intermediate party. Atomic Swaps are one of these. In simple terms, an Atomic Swap is a smart contract technology that enables the exchange of one cryptocurrency for another without using centralized intermediaries, such as an exchange.
In August 2018, we released a new Lightning upgrade along with the implementation of Lightning Network and Atomic Swaps. The combination of Lightning Network along with Atomic Swap allowed the execution of “Lightning Swap” which is an instant and nearly fee-less cross chain trade. The successful execution of Lightning Swap has taken us a step closer to our trustless one-click Lightning Swap solution which provides the user with a unique interoperable peer to peer solution that is only available with Stakenet.
To elaborate, Lightning nodes validate transactions between two separate chains. A Lightning node is an endpoint communicator that should have data from both chains. In other words, it needs to monitor both chains and thus is able to validate the transaction. With the upcoming development of the Multicurrency Wallet, Masternodes will be holding the separate chains in a decentralized manner, so you won’t need to download both chains. The Masternodes will also provide Watchtower services, so if anything goes wrong it will execute automated scripts to claim the punishment rewards.

>>20921365
>>20921385
>Stakenet Solution

Crypto exchanges are the mainstay support for the cryptocurrency market as they allow trading of coins thus providing liquidity. Even after being such an important component of the crypto markets, most exchanges are centralized and are operated out of a single central server making them vulnerable to hacking or forced closure by the regulatory authorities. Also, once a user places a trade with a centralized exchange, their coins leave their possession and are stored with the exchange, thus making the user lose the utility and benefits that one receives from the coins. These are some of the potential risks which Stakenet aims to answer with its proposed Stakenet dx (Cross-Chain Lightning Swaps).

With important components such as the Multicurrency wallet and Lightning Swap in place, we are only a few steps away from creating this solution. There are some DEX’s which are currently operating but all of them have some vulnerabilities of centralization, whereas Stakenet would be the first to operate a completely decentralized solution which would be entirely run by Masternodes and not supported by a centralized entity.

>>20888522
>>20888545
>Lightning Swaps

With decentralization slowly finding its roots in today’s world, people are showing an inclination towards replacing centralized intermediates with decentralized ones. Although the acceptance of a complete decentralized organization is still distant, there has been the emergence of a lot of services which now help people in carrying out transactions without an intermediate party. Atomic Swaps are one of these.

In simple terms, an Atomic Swap is a smart contract technology that enables the exchange of one cryptocurrency for another without using centralized intermediaries, such as an exchange.

In August 2018, we released a new Lightning upgrade along with the implementation of Lightning Network and Atomic Swaps. The combination of Lightning Network along with Atomic Swap allowed the execution of “Lightning Swap” which is an instant and nearly fee-less cross chain trade. The successful execution of Lightning Swap has taken us a step closer to our trustless one-click Lightning Swap solution which provides the user with a unique interoperable peer to peer solution that is only available with Stakenet.

To elaborate, Lightning nodes validate transactions between two separate chains. A Lightning node is an endpoint communicator that should have data from both chains. In other words, it needs to monitor both chains and thus is able to validate the transaction. With the upcoming development of the Multicurrency Wallet, Masternodes will be holding the separate chains in a decentralized manner, so you won’t need to download both chains. The Masternodes will also provide Watchtower services, so if anything goes wrong it will execute automated scripts to claim the punishment rewards.

>>20863340
>Stakenet Multi-Currency Wallet

A cryptocurrency wallet is an important and integral component of the cryptocurrency universe. It is a secure digital wallet which helps in storing and transacting digital currencies like Bitcoin and Ethereum. Most of the coins and tokens have their official wallets but with changing times a lot of independent third-party wallets have surfaced providing a variety of features. Here comes the problem; for every cryptocurrency that a user holds, he also requires a wallet to store it, thus making it cumbersome for the holder to have so many wallets.
Stakenet provides a solution to this problem as Stakenet’s Masternode Network will hold databases and run full nodes of multiple blockchains allowing Stakenet to create a wallet that can securely send, receive and confirm a transaction on separate blockchains. These separate blockchains are held in the second layer which communicates with the first layer nodes providing users a single wallet which can house multiple wallets.

>>20664721
These were the principles that Bitcoin was constructed with and designed to honor. While its inherent technology stays true to this nature (mining aside), the infrastructure that has been built up around it is flawed by design and sacrifices a good number of strengths and freedoms. Most notably are the many vulnerable points of exchange run by central authorities on trust where funds are at risk to be frozen or stolen, KYC (know your customer) policies, and the traceability, restrictions, and risks that come from these two points.

Shortly after BTC found a value that could be directly pegged to the USD (and with the USD, every global currency), a number of exchanges offering trade between the two opened for business. The first of these exchanges was the infamous Mt. Gox which implemented KYC policies by 2011 before exit scamming in early 2014. KYC policies were initially introduced to comply with the many regulations regarding the exchange of various fiat currencies for crypto in addition to demanding a deeper sense of customer accountability. Up until the point that they were introduced, the only sure way it would have been possible to trace specific addresses is if the recipient publicly disclosed their wallet address. KYC brought a considerably more advanced form of traceability with it. In addition to e-mail addresses and bank accounts, everything from names, addresses, full ID info, and pictures of each and every customer became tethered to their respective deposit and withdrawal history. Though somewhat convoluted with the nature of exchange wallets, there are patterns that can be followed and traced.

As BTC continued to grow, so did the number of its forks and competing cryptocurrencies pegged to its value in satoshis. The forks grew to be numerous and with them, the number of centralized C2C exchanges where you could trade them for BTC. Like the fiat-to-crypto exchange points before them, KYC was implemented on numerous C2C exchanges as well.