What Is Stakenet?
Stakenet (XSN) prides itself as the world's first genuinely Trustless Proof of Stake (TPoS) coin, operating on the Bitcoin.core blockchain-structure that permits users to securely and conveniently stake their XSN coins in cold storage such as on a Ledger Nano S. Additionally, Stakenet will provide for producing, validating and moving the XSN blockchain.
The TPoS Coin
The Trustless Proof of Stake (TPoS) coin receives its validation from the invention of the so-called “Merchantnodes” which allows users to stake their coins using the merchant's high bandwidth, and continuous connectivity without having to share any spendable balances or private keys with the merchant. That allows for a genuinely trustless relationship between the client and the merchant.
There are no requirements for becoming a merchant and TPoS is already a highly profitable business for hundreds of TPoS Merchants. In contrast to all previous solutions, 3rd parties in the XSN ecosystem have no selective or centralized advantage, but still, have an incentive to offer their services because they can negotiate an individual commission with their costumer.
Along with TPoS, XSN has implemented masternodes which ensures a fully decentralized system while providing network services like Instant Send and a governance system. Moreover, the masternodes will host and manage the first genuinely decentralized exchange working under a profit-driven ecosystem.
There is also the enabling of Light Atomic Swaps between different blockchains, including the use of the Lightning Network protocol. Lastly, the masternodes will provide the Cross Chain Proof of Stake (CCPoS) services for other blockchains, based on the bitcoin.core blockchain-architecture.
Additional Options With Stakenet
- Multicurrency wallet to allow for multiple transactions
- Staking as a Service option with different features
- TPoS Marketplace for token liquidity
- Masternode as a Service
- Pooled Masternodes
- Atomic Swaps Services for multiple staking
Stakenet Staking Masternodes As A Service Wallet Plan
The block rewards for XSN are split between masternodes, staking nodes, and treasury. Masternodes receive 45% of the block rewards for providing high bandwidth, 24/7 connections, and supply requirements for further XSN features such as CCPoS, Light Atomic Swaps and more.
Staking rewards from TPoS and regular PoS receive 45% of the block rewards for leaving their nodes online securing the network. The last 10% of the block rewards go to the treasury fund for future tech developments of XSN and potential Stakenet partnerships.
Stakenet Coin Specifications
The Stakenet had its launch as a PoS wallet with the token rebranding in March 2018 to set it as a staking coin. Additional information includes:
- Algorithm- X11
- Block Time- 60 seconds
- Difficulty Retargeting- 40 minutes
- Total supply- 78,780,164 XSN
- Circulating supply- 68,421,760 XSN
- Master node requirement- 15,000 XSN
PoS Rewards Breakdown
- Masternode- 45%
- Staking- 45%
- Treasury- 10%
PoS Phase Plans
- Phase 1(Blocks 0-20000) 0 XSN (Complete)
- Phase 2 (Blocks 20001-63200) 50 XSN (Complete)
- Phase 3 (Blocks 63201-106400) 45 XSN (Complete)
- Phase 4 (Blocks 106401-149600) 40 XSN (Progress)
- Phase 5 (Blocks 149601-192800) 35 XSN (Not started)
- PoS Phase 6 [blocks 192801-236000] 30 XSN (Not Started)
- PoS Phase 7 [blocks 236001-279200] 25 XSN (Not Started)
- PoS Phase 8 [Blocks 279201-infinite] 20 XSN (Not Started)
What The Future Hold For Stakenet
- Autonomous swaps execution through the MN Quorums
- Enhanced user privacy for staking
- Establishment of XSN Hardware wallet
- DApps Built on the XSN Blockchain
- Cold exchange of crypto from hardware wallets
- On chain scaling or sharding
- The launch of the decentralized exchange