Beware shills and fudders edition.

[Anonymous No.22021335]

Haven't seen a good info thread about Stakenet for a while, only constant levels of extreme fudding. So I'll post some of the pasta I've found. To all of you who are indecisive about the project due to all the fud, read and understand the whitepaper and watch the videos, and realize that they, coupled with the recent progress that the team has achieved, is the reason why everyone is shitting non-stop on this project lately. As the adage goes, never listen to biz, do the opposite of what biz says, in other words DYOR. Beware that a dump may come because of (likely) heavy whale manipulation. Either way try to grab some as a long-term hold, and if you truly believe in it, aim for a masternode.

Frank Amato
> Executive Director J.P.Morgan March /7 years, 1 month/
> Managing Director Bear Stearns & co. /11months/
> Vice President J.P Morgan /10 years, 4months/

XSN
> Digital money
> Decentralized
> Trust-less proof of stake

DEX
> CURRENTLY IN PUBLIC BETA
> Masternodes
> 45% block rewards
> 90% Passive income from user fees
> Almost fee-less
> No kyc
> Instant transactions 24/7
> Infinite scalability
> Decentralized
> Lightning swaps
> Cross chain proof

Stakenet has been dormant for years, during these years stakenet has constantly been working towards their product. DEX public beta has been released this year. They have a legit professional team with a real product. I really think it's going to be huge, I can see myself and the majority of crypto-currency using the DEX on a daily basis, its really easy to use. The best part is that you can always get the cheapest price on whatever you're investing into.

The decentralized exchange public beta can be found here: https://medium.com/stakenet/stakenet-dex-open-beta-dd5c78175608
You can also buy XSN straight from it, or on Livecoin or Beaxy, if you find the project interesting.

Stakenet is the future of money, the project that aims to re-ignite the bitcoin cypherpunk vision of the future.

[Anonymous No.22021411]

Essential reads
>Whitepaper
https://stakenet.io/Stakenet_Whitepaper.pdf
>Quick rundown
https://medium.com/stakenet/multi-currency-wallet-and-lightning-swaps-stakenet-solution-7d0dafe99105
>X9's contributions to LTC
https://medium.com/stakenet/litecoin-foundation-and-x9-developers-announce-collaboration-510ca985b6
>Exertive Proof of Stake
https://medium.com/stakenet/exertive-proof-of-stake-epos-4a999807f9e4
>Great write-up of Cross Chain Proof of Stake (i.e. stake XSN, receive BTC)
https://medium.com/stakenet/posw-weekly-ccpos-cross-chain-proof-of-stake-de1ac87055cd
>The Cypherpunk Standard of Banking
https://medium.com/altcoin-magazine/the-cypherpunk-standard-of-banking-88f84a834180
>Most recent Dev Update
https://medium.com/stakenet/xsn-dev-update-july-1st-c80b1975a58

>Roadmap
https://stakenet.io/roadmap/

Further reads
https://medium.com/stakenet

[Anonymous No.22021488]

You're unironically going to make it, if you hold a masternode in this.

>Stakenet is the third coin (Right after BTC/LTC) to implement lightning swaps on mainnet.
>They also partnered up with the Litecoin Foundation to help with lightning tech.
>They are working on their OWN Hardware Wallet- VIPER (Competing with Ledger, Trezor, and Xeeda) Which is the first crypto project EVER to work on that.
>Stakenet is soon launching a multi currency wallet with inbuilt lightning and atomic swaps (HUGE)
>Stakenet will also soon launch the first masternode powered DEX. Which requires NO registration, NO KYC, no bullshit at all.

[Anonymous No.22021539]

>Multi-Currency Wallet and Lightning Swaps — Stakenet Solution
Whilst a lot of blockchain projects are struggling with scalability and trying to prove their decentralization, Stakenet (XSN) is swiftly moving forward in creating interchain capabilities and services that will help in fulfilling its vision of a trustless profit-driven economy. In this article, we will be discussing two important pillars that we are pioneering to provide a highly secure interchain economy for cryptocurrencies and making the world free of centralization.

>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.

[Anonymous No.22021571]

>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.

[Anonymous No.22021614]

>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.

Apart from that, the other advantages of the Stakenet’s Cross-Chain Lightning Swaps are:
>The coins which the users hold never leaves them unless the transaction is completed giving them unlimited access to their coins.
>With coin in their wallets, they also benefit from all the utilities, features and staking rewards of the coin.
>The user remains anonymous as he doesn’t have to provide any Know Your Customer (KYC) details to anyone providing the user with complete anonymity and freedom to trade fearlessly.
>Not being in hands of central authorities, the Stakenet dx cannot be shut down by anyone, not even Stakenet.
>All transactions are done on a peer to peer basis without the involvement of a central authority, making the transaction more secure and less expensive as the fees are lower.

[Anonymous No.22021690]

The question is what’s the point of a native token on a chain that facilitates Lightning Swaps?
There have been two main criticisms of Lightning Network thus far:

1. Decentralization
2. Liquidity

By using the XSN native blockchain to host a one-click Lightning Swap solution, it gives the advantage of utilizing its second layer Masternode collateral to solve both of these issues.
Masternode collateral can only be achieved by using a native blockchain, since the rules need to be baked into the first layer to have secure Masternode’s in the first place, so you cannot use DApps or off-chain tokens to have the same effect or solve the problems that require a dedicated Masternode network.

With our native blockchain you will be able to take this collateral and allow Masternode owners to make that collateral work for them by generating fees from routing Lightning payments, becoming Watchtowers, holding other chains, providing Light Wallet TX broadcasting services and liquidity for the Lightning Network as a whole.
Furthermore, all major infrastructures will be built using Masternodes to provide a decentralized service without hurting normal users on the base protocol.

XSN users and owners will be rewarded accordingly via demands for XSN to set up these Masternodes or using it as a medium of exchange, because it will be one of the most liquid Lightning Networks necessary for high volume trading and general payments.

This is one of the major selling points along with other exciting capabilities our second layer will allow in the future. As new technologies regarding smart contracts, DApps, and scaling come into the scene we will also be able to uniquely solve problems that these technologies might face using the same approach we are taking with Lightning for example.

[Anonymous No.22021721]

>>22021335
>>22021411
>>22021488
>>22021539
>>22021571
>>22021614

[Anonymous No.22021734]

In short, all services running on the Masternode network will generate fee’s that will be paid in XSN in one way or another. Many users may not even realize they have paid in XSN as it will all be handled by Lightning swaps in the background. For example, if someone wants to trade BTC/LTC then the fee will be initially collected in BTC, however this BTC will be converted into XSN via a Lightning Swap in the background. That XSN will then be distributed back to the MN holders for providing the services.

This will happen for every service that is run on the XSN Masternode network, such as the Privacy features and upcoming DApps. We believe this economic model will provide a constant demand for XSN with fees collected constantly being converted to XSN and then distributed back to Masternode holders.

We have also partnered with professional trader Frank Amato (current Block 5 Capital Co-Founder, Former Executive Director of JP Morgan, Former Managing Director of Bear Stearns), to help design the Stakenet dx, as he provides insights on how the one-click Lightning Swaps can meet the expectations and requirements of seasoned traders. It will have a “Pro-Trader Mode” which will serve ambitious and also seasoned retail fund investors.

[Anonymous No.22021753]

>>22021411
>whitepaper
>tokenization
>2.5.3 Tokenization
Tokenization is known as a process to convert rights to an asset into a digital
token. Thus, each token represents the underlying asset. Using a blockchain
for this purpose guarantees that the ownership information is immutable. Currently, we are developing XSN tokens on the Ethereum and EOS blockchains,
which represent the native XSN coin and can be converted between Stakenet,
Ethereum, and EOS with the help of a bridging protocol. With specialized multisignature addresses, hashlocks and timelocks we can lock XSN on our native
chain addresses while unlocking the XSNETH and XSNEOS tokens on the opposing smart contract chain. Stakenet users do not need to manually transform
their coins to the tokens, because all is executed by smart contracts on the network and governed by our Masternodes layer.
It is important to note the number of native XSN coins does not increase.
The existing amount of all moveable coins and tokens is equal to the total XSN
supply and is cryptographical auditable. Once the bridge protocol is used to
send XSN coin to the Ethereum or EOS network, they are locked up and stored
in a special smart contract address. Thus, the sender has no access to the
native coins, while getting permissions for the opposing tokens. By connecting
the Stakenet blockchain to the Ethereum and EOS blockchain through tokenization, we can integrate every known token of these blockchains into our interchain
network. This way we will be able to provide an interoperable technology for
swapping assets across different networks to allow everyone to freely operate
with any coin and token within the blockchain mesh. An additional advantage
is that this workflow is compatible with any other blockchain which supports
tokenization. This means that the Stakenet interchain network can easily grow
day by day and new achievements of other developers benefit our network as
well.

[Anonymous No.22021787]

>>22021753
>cont

isn't all the talk in the discord about how tokenization is bad? and that's why they're going with raiden, so it's an actual asset swap, and not a tokenization?

shouldn't this part of the white paper be re written? it's all complete shit, right?

[Anonymous No.22021801]

If Bitcoin begins to soar again, it's going to need a powerful Lightning solution or it will quickly become lethargic and expensive to send money with.
On-chain tx bandwidth needs to be ruthlessly optimized with priority to large sums of money. Sending $1 million? Do it on-chain and screw the fees. Buying a beer? Lightning.

If done right, Lightning channels can handle the heavy load of small, irrelevant txs, freeing up the pipeline for tx that genuinely need the benefits of on-chain.

For Lightning nodes to do this effectively, they need liquidity. That source of liquidity remains a subject of controversy, and rightly so.
It burdens the end-user to provide their own liquidity in a way that's inconvenient and hardly profitable, which beckons centralization on a massive scale.
In other words, you either have something that's decentralized and doesn't work, or something that's extremely centralized and works well. 1000s of water pumps atop 1000s of drying and shallow wells that can't provide liquidity, or a massive water company that's monopolized the water supply. It could turn a desert green, but it could become corrupt and start ripping off the town.

What's the way forward? You can't change how LN was implemented on Bitcoin, but you can work with it independently.

Masternodes are excellent LN routers, namely because they're
>secure
>run 24/7
>evenly spread out all over the world
>provide collateral - "Alice and Bob" only have to worry about securing their wallets and making good backups

If you put an entire masternode network to the task of doing this, you get heavy collateral that provides serious liquidity for small off-chain Bitcoin tx.

tl;dr - LN flows like liquid, and your options to scale liquidity are
>1000 pumps on 1000 shallow wells
>a water company that holds the town hostage
>a deep underground water reserve that's in one pool, possessed by no one, directly accessible from the surface

This is what Stakenet has been building, /biz/. Don't miss out.

[Anonymous No.22021896]

this is the next level of FUD. get anons suspicious of your project by posting a massive wall of text kek

[Anonymous No.22021998]

>>22021896
I guess in that case I'll turn out to be the greater retard, and deserve to lose. But interesting point. Following Stakenet lately I've learnt that everything can be applied as fud, in one way or another, and weak hands will still buy it. Mind-boggling really.

[Anonymous No.22022027]

>>22021335
I first heard of this project 2 minutes ago and I deeply believe in it. A new paradigm is upon us.

[Anonymous No.22022061]

btw I have a masternode. if the DEX is successful (biggest step is raiden integration) then xsn will soar, given the steep gas costs right now. If not, then maybe more crabbing for a while.

[Anonymous No.22022065]

Never selling, hopefully the price stays low until Raiden. Thanks fudders.

[Anonymous No.22022283]

I have 1MN, never selling, looking to accumulate more if the drought continues. I'll decide whether this was a success or a scam in 2 years.

[Anonymous No.22022321]

xsniggers never stop huh scamming retards crabbing at 20 cents

[Anonymous No.22022377]

>>22021335
god im so happy this project went down the shitte. i bought 17k at 7 cents but then lost my wallet during a hard drive swap. I wouldnt be able to cope if this thing went to 1 dollar.

[Anonymous No.22022449]

>>22022377
Congratulations anon. You're still going to make it despite fucking up. I'm sitting on three master nodes myself, never selling.

[Anonymous No.22022484]

[Anonymous No.22022506]

>>22022449
Oh wait, I just assumed you were buying more. What the fuck are you doing mate, it's cheap and you're still not wanting to get in because you lost your earlier coins? So you actually believe in the project but due to enormous seething you want the project to burn? Makes sense. Fudders in a nutshell, like that whale who got btfo at 600 sats.

[Anonymous No.22022553]

>>22022484
Hi turkroach

[Anonymous No.22022641]

>>22022377
Just you wait.
I'd look for that HDD if I were you

[Anonymous No.22023086]

The fact the top 30 wallets have all increased their holdings during this dump tells you everything you need to know. Weak hands are getting shook out.

[Anonymous No.22023277]

https://www.youtube.com/watch?v=0TE6iOV5DjI
>Project serum, shilled and advertised everywhere as one of the "big boi revolutionary dexes".
>Is a shit-token.
>"Everything is done on chain"
>"Hook upyour wallet to centralized website"
> Literally same shit as all the other "completely decentralized dexes".
>It's literally crap compared to what Stakenet is doing.
OH NONONONONONO, HAAAAAAAAAAAHAHAHAHAHA.

[Anonymous No.22023322]

>>22023086
Indeed.

[Anonymous No.22023429]

>>22023322
I truly hope these jews keep the price suppressed, my poorfag ass needs more time to buy in

[Anonymous No.22024198]

Forgot the obligatory pic related.

[Anonymous No.22024244]

>>22022553
>turkroach
>when turkroaches are the biggest holders of XSN

[Anonymous No.22024395]

>>22024244
How come this is the case anyway? I've been wondering. Did they have someone who shilled it early on or something?

[Anonymous No.22024407]

kek

[Anonymous No.22024677]

>>22021753
>>22021787
anyone wanna chime in on this tokenization part of the whitepaper, or just disregard it cause the whole whitepaper is like 10 years old and 15 pages of shit?

literally every other solution uses tokenized assests, and gets shot down by yankee/discord trannies.... but yet it's in the whitepaper that stakenet wants to do it.

[Anonymous No.22024798]

were to buy sirs?

[Anonymous No.22025013]

main issue is BETA.
Give it some time.

Profit will be huge.

[Anonymous No.22025020]

>>22024677
Every project changes from their initial white paper. If a white paper from many years ago was still exact for an alt that’s a huge red flag. The entire industry changes in 3-4 months

[Anonymous No.22025069]

>>22025020
Sooooo, just invest in some project with an out of date whitepaper? All good senpai.

[Anonymous No.22025078]

just hold on to your xsn, thank biz in the near future. I will never sell, ever. 1MN here.

[Anonymous No.22025101]

>>22024677
>wrapped tokens are shit
>so trade your real tokens on our exchange, and exchange your real assets for our wrapped assets on other native block chains
kek perfect

[Anonymous No.22025110]

>>22024395
>16 posts by this id
god I wish yankee didnt fucking shill me this pos coin