Executive Summary
By: Stakenet Team
Tags: Blockchain, Bitcoin, Cryptocurrency, Technical Documentation, Proof Of Stake

Summary of Stakenet (XSN)

Stakenet is a decentralized platform aiming to replace traditional banks, fiat currencies, payment gateways and more. Stakenet provides the infrastructure for instant and free transactions and delivers a much more convenient way to handle your preferred store of value through an ecosystem of decentralized platforms, products and services. The Stakenet blockchain is powered by its own native coin XSN, which is the money that will be used as the legal tender for the entire ecosystem. Keeping it smart and simple, Stakenet provides:

A suite of effective investment tools for institutional and conventional investors; and a platform for cross chain interoperability to service the blockchain industry; and the World’s first truly decentralized cryptocurrency bank

Trustless Proof of Stake (TPoS)

TPoS is a Stakenet invention that allows every XSN holder to securely stake his coins from a cold storage and validate the blockchain without the need of a trusted or voted authority. While crypto investors currently use offline storage, TPoS transforms these cold storage devices into profit generating devices. Rewards flow to the coin owner while the coins remain offline. TPoS is fully operational and available for everyone who owns XSN. This technology will be available for cross chain purposes upon implementation of CCPoS, described below.

Masternodes with Multiple Sources of Income

XSN Masternode owners will have three sources of income: regular blockrewards, the XSN Exchange’s trading fees and fees for running TOR-network services. Furthermore, additional revenue streams will come in the form of hosting DApps and other services added to the Stakenet Masternode network.

Investment Agility due to Cross Chain Proof of Stake (CCPoS)

Another Stakenet innovation under development is CCPoS. With this technology Stakenet aim to enable users to stake XSN and receive rewards in any other coin. This allows individuals to switch rewards on the fly to the new “hot coin”, if they so desire.

Decentralized Exchange (DEX) - Stakenet dx

Stakenet will create crypto’s first truly decentralized cryptocurrency exchange run entirely by masternodes. By doing so, our XSN Exchange cannot be shut down by any third party person or authority. Even Stakenet itself cannot quit the exchange once it is launched, what makes our DEX unique, because every other decentralized exchange can still be shut down by their creators.

Powerful applications - XSN DApps

Stakenet is more than just an ecosystem for XSN and other PoS coins. With cross chain interoperability Stakenet can host other chains, allowing them to add new features and applications without the dreaded fork. The backend code of these DApps will be running on the Stakenet peer to peer network, while the DApps frontend code and users’ interface can be written in any language that can make calls to the backend. Using Stakenet’s unique combination of a masternode network and hardware, developers can create powerful DApps. For example, a car manufacturer is able to monitor ownership and service level detail of the car as well as the owner is able to lock/unlock the car with XSN Hardware. Disclaimer: As with any crypto-currency, there is inherent risk. While XSN endeavors to implement to the best of their abilities, they make no representations as to future value and individuals purchase XSN at their own risk.

The Unique Stakenet Hardware Wallet - XSN Excalibur

XSN Excalibur will be a unique XSN hardware wallet with several features which no other device has. These unique selling propositions are summarized as: Cold storage exchange from a hardware device and earn CCPoS rewards while your coins remain offline. XSN Excalibur is a multi-currency hardware wallet which will interact with the XSN Wallet or XSN Light wallet. That way users will connect their XSN Excalibur to a phone or computer and will be able to send, receive, stake and trade by using one of the two XSN wallets.

Convenience due to the new Multicurrency Light Wallet - XSN Light

XSN Light will be a new desktop/mobile for the user’s device of choice without the need of downloading each blockchain for each coin. This wallet will enable users to send and receive any supported currency.

Blockchain Services - XSN Cloud

XSN Cloud will provide a lot of useful blockchain services for every member of the Stakenet ecosystem. First, XSN Cloud offers a trusted staking service for major proof of stake coins and a trustless Masternode hosting service. Furthermore, the Cloud includes a fee-less monitoring tool for Masternodes and a calculator for staking rewards and Masternode earnings. Finally, the XSN Cloud will host a merchant marketplace where coin owners can hire merchants to trustlessly stake their coins using TPoS, while the coins remain on the XSN Excalibur, Ledger hardware wallet, or in any other cold storage.

Profit-sharing, Buy-back-burns and Revolving Stake Bonus (RSB)

All profits will be given back to XSN coin owners one way or another, such as buy-back-burns or funding the treasury for further development. Additionally, Stakenet will reward XSN holders via an RSB mechanism, which is a proof of burn technology for third party businesses using the Stakenet network.

Security

Stakenet will initially be centralized but will thereafter managed entirely by Masternodes. This decentralization removes the risk of obstruction or being shut down by third parties. Furthermore, we created the highest level of network security and an individual user’s protection with the use of TPoS.

Privacy

XSN is building crypto’s first internal TOR network run by Masternodes. Whereas TOR has been utilized in crypto by coins like XVG, those methods are fundamentally flawed due to exit node relay detection. Our TOR Masternode network won’t have this vulnerability and will allow truly obfuscated transactions.

Coin metrics

Consensus: PoS, TPoS

Coinage: enabled, 24h

Algorithm: X11

Block time: 60 seconds

Blockreward: 20 XSN

Difficulty retargeting: 40 minutes

Launch date: fair launch at 6 th Mar. 2018

Swapped supply from POSW to XSN: 76.500.000

XSN Blockreward distribution: 45% masternodes, 45% staking, 10% treasury

Masternode requirement: 15,000 XSN