Trade Stakenet (XSN) On Beaxy

Stakenet's tagline is simple but brings the point home: The smart digital money. Stakenet had combined the Lightning Network and Masternodes to create a sophisticated, but wholly reliable global blockchain. Much like other cryptocurrencies, XSN has decentralized applications but is taken up a notch by being entirely programmable.

XSN profile

XSN's Key Feature

Cross-Chain POS Technology

The developers of XSN programmed it in such a way that it has the ability to interact with other blockchains. XSN makes use of Cross-Chain Proof of Stake technology. This means that a blockchain participant is given permission to stake XSN and in turn gather rewards in BTC. XSN takes pride in having no "middlemen". Stakenet's token is one of the preliminary altcoins to perform Lightning Network Cross-Chain Atomic Swaps.

Lightning Network Protocol

XSN takes cues from the Bitcoin/Lightning Network protocol. This allows the token holders to send payments through any altcoins, despite the merchant declaring to accept only BTC. All transactions made through and with XSN are free and are executed almost instantly, unlimited transactions per second on record. The XSN developer's aims are to render the token completely usable and become an asset with top tier security through a trustless operating environment.

TPoS and Masternodes

With XSN's Trustless Proof of Stake, clients are given the opportunity to experience top-level blockchain security through a highly-decentralized system and trustless cold staking. This cold staking system also provides Stakenet clients' the chance of earning passive income by securing the blockchain. Another way by which this can be done is through dApps and network services that run a Masternode.

Frequently Asked Questions

XSN Technology

XSN's features can be broken down into an explanation of each technology it is constituted. Stakenet's technology centers on providing a digital coin that is programmable and highly secured. With this being stressed, the following technical features are discussed briefly: Immediate Transactions Executed Transactions are executed and settled almost instantly through XSN's Lightning Network. The developers have timed each transaction to be processed in only a matter of milliseconds. Scalability As the transactions are executed in a matter of only milliseconds, Stakenet is able to process unlimited transactions through the Lightning Network within a second, 24 hours a day, 7 days a week. Transactions are Free! These transactions come with little to no fees. This system conveniently does through the use of second layer Lightning Technology. Privacy to a Tee Bulletproofed algorithms and the internal TOR network that are being run by Masternodes constitute XSN's high-end and improved security features. High Security XSN improved its security system working within the existing PoS network through the Trustless Proof of Stake consensus. Powerful Masternodes The Stakenet blockchain is being serviced by powerful Masternodes. It is this same Masternodes that provide liquidity to XSN's Lightning Network. Revolving Stake Bonus (RSB) Revolving Stake Bonus, or simply, RSB is a reward mechanism, This is engineered to account for Stakenet's ecosystem. Speedy and Anonymous Swaps XSN token holders are given the ability to anonymously and speedily swap assets between different blockchains. Cross-Chain Tech Stakenet's Cross-Chain PoS clients are given the capability to stake their XSN. The system allows this so that the clients are allowed to receive rewards through other cryptocurrencies of their choice.

What XSN Is?

The online, corporate entity Stakenet was established back on December 1st, 2012. The coin is built to be traded with other industry-known coins such as BTC, ETH, and XRP. XSN can also be exchanged with fiat currencies like the USD, CAD, and EUR.
XSN poses itself in the cryptocurrency industry as one of its movers through fortified security, seamless Lightning Network Payments, and Cross-chain technology. What this means for the average XSN token holder is that all his or her transactions performed through the system are done at lightning speed without compromising client identity and the funds that they fill up their accounts with.
However, as already mentioned in the previous segments, XSN furthers the innovation through the rewards that each token holder gets through their Proof of Stake.

How to Mine XSN?

The XSN token can be mined through ASIC mining rigs. Much like how Bitcoin can be mined, the use of ASIC Mining Rigs allows for the gathering of XSN tokens through the ASIC chip. The purpose of the hardware is to efficiently solve numerous cryptographic puzzles at a given point in time. Worthy of note, the return of investment for this hardware can come in within only a month. The only downside that ASIC mining rigs have is noise and power usage.
And while GPUs fare better at processing compared to a CPU, for XSN, ASIC is the better choice for mining as opposed GPUs, given that each of the latter costs around $400. The price seems unjustified as it only renders 1 GH/s of power.

Risks of Trading XSN

The risks surrounding the trading of the XSN token is pretty much like the risks of trading other cryptocurrencies. These center on the issue of digital coin volatility. What one should consider is that the value of XSN coins is high-risk and speculative not dissimilar with other altcoins. What this means for the token holder is that he or she should be wary of market movement in that the value of each digital asset is subject to the ever-changing digital financing landscape. The prices may easily plunge as it may easily shoot up. 1. Volatility As it had already been declared, the digital coin market sentiment is subject to rapid, almost fickle changes. As this is the case, the value of a single XSN token may easily result in abrupt movements. 2. Unregulated Probably the biggest departure that the digital currencies have from fiat or actual currencies is that it is not regulated by either the government or a central bank. As this is the case, being decentralized, XSN is not regulated, leaving it unchecked by outside legal and financial authorities. 3. Subject to Online Attacks While Stakenet had stressed its top tier security system through its "trustless" PoS, the fact of the matter is hackers and other malicious online entities will always find new ways to steal other people's online assets. And of course, XSN is not to be blamed for it solely. It is a fact that just about in any industry, shady people are always thinking of ways to take what is not theirs. 4. Forks and Discontinuation Trading XSN opens the token holder to forks and discontinuation. What is thus recommended to the token holder is that he or she determine the occurrence of high volatility in the presence of a hard fork.

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XSN on Beaxy

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