April 20 2022
Stakenet: Staking For A Profit Driven Trustless Economy
Stakenet coin is essentially a proof of stake (PoS) cryptocurrency that aims at creating a trustless profit-driven economy. You may be a little flattered at first to learn that Stakenet coin is generally like any other P0S coin. However, its edge lies in the fact that this platform utilizes cold storage during staking. It goes without saying that cold wallets are reputed for their safety.
Proof of stake is simply a rewards mechanism for storing your coin in the cryptocurrency wallet for a stipulated time. Consequently, storing coins in your Stakenet wallet ensures that you earn consistently and have a secure asset base.
The Masternode is in simple terms a decentralized server that provides network services and secures the blockchain. Notably, Stakenet relies on third-party servers known as Masternodes to do the actual staking. Accordingly, masternodes profit by earning the block rewards from the coin generation process. Investing in an entire Stakenet Masternode is a profitable albeit pricier option.
There is a different type of node called the staking nodes. Staking nodes complement Masternodes to ensure the platform operates smoothly. Staking nodes essentially are responsible for the moving, securing and validating the system. Anybody who stakes uses a staking node. Masternodes are just a specialized kind of staking nodes. Stake nodes and Masternodes get equal rewards of 45 percent of the block rewards.
Stakenet also allows cross-chain staking where you can earn one type of coin by staking another coin. The development team essentially wishes to make Stakenet coins the only ones you need to own. This means you can stake on a Masternode XSN tokens for instance and opt for payment in Bitcoin.
Stakenet Coin or XSN Price
This ecosystem relies on the XSN digital currency for liquidity. At the time of writing, the XSN price of stood at 13 cents. The advantage of using XSN is that it is a scalable coin that ensures fast and efficient transactions. In general, the currency utilizes security algorithms and ensures an overall lightning-fast network.
The Stakenet platform boasts of over 40 experts in the fields of software development, blockchain experts, management and other forms of technical expertise. Some significant include Esteban Draper, the director of operations, Benjamin Wang, a senior software engineer and Frank Amato on an advisory capacity. As a matter of fact, this is a qualified and reputable team that effectively manages the platform.
In summary, Stakenet is a Proof of Stake coin with a difference. Good old staking may seem plain but it is actually more reliable than some ‘change the world’ projects that turn up cold. This is an efficient and consistent investment opportunity.