Stakenet XSN is creating the digital worlds first truly decentralized cryptocurrency exchange run by masternodes. This is all being accomplished by building the world’s first Trustless Proof of Stake (TPoS) coin.
TPoS is a type of algorithm that allows a cryptocurrency network like Stakenet to achieve distributed consensus faster than Proof of Work, in common use until now. Instead of using energy intensive mining to achieve consensus, TPoS rewards coin holders or stakers.
Because Stakenet uses a Trustless Proof of Stake (TPoS) blockchain, this makes buying, storing and staking XSN easy for nontechnical people. This means that you can hand over your staking rights to a 3rd party, without ever giving them access to your funds. It’s akin to having a savings account with a bank that earns interest, but still holding the cash in your wallet. Imagine the impact that this may have in countries where governments are legally allowed to sieze funds in their citizens bank accounts!
Cold Staking For The Ultimate Security
Holders of XSN can earn staking rewards for protecting the blockchain through staking rewards, while their coins remain safely offline in a secure coldwallet. With conventional Proof of Work blockchains like gen I Bitcoin, these rewards were paid to independent miners. With Stakenet, the rewards are paid directly to holders of XSN.
Staking is a reward POS coin holders receive for supporting the network simply by holding coins and running a node. As a staker your wallet represents a node of coins that grow as long as you hold coins.
Stakenet allows users to stake various cryptocurrencies in one single wallet, to trade at a decentralized exchange, which is entirely provided by masternodes and empowers its user to execute swaps between different blockchains.
What Makes Stakenet Different
What sets Stakenet apart is the use of cold staking. Cold staking makes it possible for XSN holders to stake “offline” coins with no risk of being hacked or exposing provate keys to the network.
Security With Benefits
As an owner of XSN you can conveniently stake your XSN coins even while holding this crypto on super safe devices like the Ledger Nano 5.
This game-changing feature allows XSN holders the ability to widely diversify their crypto portfolio without the need to have a PC or laptop continuously connected to a network.
The security of offline storage not only benefits individual investors but addresses an important custody issue that has restrained the participation of major institutional investors. If this is addresses, expect a lot more institutional money to flow into the market.
