StakeNet (XSN) - Promising "Trustless, Hardware Wallet Staking" For Lightning Compatible Coins

in #cryptocurrency6 years ago (edited)

XSN 1.png

Ever wanted to buy into a coin, at least partially due to its return on investment from staking, only to learn that you can only stake said coin from a fundamentally insecure hardware wallet on your own PC? Or perhaps you've held a coin that you could have received some staking rewards for, but you were unwilling to give up the 2FA and limited counterparty assistance that comes from holding on-exchange?

StakeNet, a brand new project, is looking to solve both of those issues. The main ideas is TPOS, or "trust-less proof of stake". As you may recall, Steem is a DPOS, or delegated proof of stake, network. However, you still have to engage in some degree of trust with whomever it is you delegate to.

StakeNet's idea is to create the technological capability for "merchants", or service providers, to stake users coins without using them. This means one can lock up coins in cold storage of some type, without forgoing the benefits of staking the coin in question.

Finally, with what XSN is calling "CCPOS", or "cross chain proof of stake", XSN intends to provide cross-chain swaps across all future lightning network-compatible currencies that also boast both instant and fee-less transactions. That's quite an amazing laundry-list of features, so if they pull it off, sky could be the limit. Of course, such grandiose claims are also rife with potential for disappointment.

XSN 2.png

This is a brand new listing on CoinMarketCap, so keep in mind anything could happen with price. If it acts like a great many other new projects, it may dump hard until it finds a stable floor. Don't trade what you don't know!

Try SteemEngine and get rewarded for every follow or vote! /
See my explanation of SteemEngine here.

Post via for added exposure and upvotes from Busy!
See how to get extra votes from here.

See my explanation of SmartSteem here.

Try SteemFollower today and get rewarded for every vote!
See my explanation of SteemFollower here.

PAL Logo.gif

Join us at the Minnow Support Project! (click me)
We also have a Radio Station! (click me)
...and a 10,000+ active user Discord Chat Server! (click me)

Join the Steemit Poker League! (@spl)
World's Largest Cyptocurrency Freeroll Poker Site, open only to Steemians!

Sources: Google, XSNCoin, Discord, Reddit, Bittrex
Copyright: SmartSteem, PALNet, SPL,


Hello my dear would post something new soon because we missed your topics. I hope that everything goes well with you!

Very good information bro...

Wow,its great...

yeah brother its very true now that dont trade what you dont know.....i found this word very much meaningfull to me. i hope merchants gonna rock the flood .... all the love for u dear @lexiconical......all the best wishes for u

Good job my friends

very interesting your post i can can take a good lesson@lexicoical

I really want to get my own coin someday I want to call it polarcoin

Much needed. Great project

Great project.Especilally for merchants and service providers.As they can stake users coins without using them.

Congratulations @lexiconical! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

Upvote this notification to help all Steemit users. Learn why here!

Hi @lexiconical, I was on an older post of mine today and saw your comment. I was wondering why I had not seen you recently. Now I know and I'm so sorry to see you inactive and powering down. You have been such a good friend and helped my stay positive here in the past. I hope everything else is going well for you and that you will return. Take care, my friend. - Sharon

Hi @lexiconical. I saw your comments and upvotes from other posts, and also notice your success in Steemit platform. I was wondering about that, and read some of your articles. In my case, I am not here for crypto posts -although I love the crypto world- but for a Novel. Posting parts of a chapter each time; also essays & options. I am having a hard time to interact with readers... actually, I am having trouble to get to the readers.

Should we really only on networking? What kind of approach do you use to get to the readers?

Congratulations @lexiconical! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Congratulations @lexiconical! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!