Stakenet is an open-source platform for decentralised applications (Dapps) that uses the local cryptocurrency XSN. The platform supports high-speed Dapp production using Masternode technology. The team claims that XSN can perform almost free and unlimited transactions within one second. They also claim to be the first Lightning Network DEX in the market. But is Stakenet really worth investing in? This article of Zatrun.com will tell you everything you need to know about XSN coin.
What is Stakenet and How Does It Work?
Stakenet provides secure, fast, and decentralised financial transactions using “Trustless Proof of Stake (TPoS)” technology. Users who stake XSN coins in their wallets can earn passive income. XSN coin also facilitates trade between two different cryptocurrency ecosystems with its cross-chain technology. The platform operates using TPoS technology and aims to create a platform that offers a “Lightning Swap” model after LTC and BTC.
The platform ensures maximum security using its trustless algorithm, allowing every user to stake XSN coins easily. It is an ideal option for those who want to swap different transaction pairs and earn passive income. In addition, investors can also make “Atomic Swaps” using the platform. This project is a perfect choice for those who want to make both online and offline stake transactions as the platform supports both options.
Stakenet’s “Trustless Proof of Stake” mechanism allows for secure and easy token staking in decentralised financial transactions. In the TPoS mechanism, you do not need any intermediary while staking XSN coins. Users who own a Masternode can benefit from this feature and perform stake transactions without locking their tokens and without their balances falling below zero. TPoS ensures that XSN coin ecosystem works correctly and securely in a peer-to-peer (P2P) manner.
What is XSN? Is It a Good Investment?
XSN coin, the native token of the Stakenet platform, enables high-speed and decentralised transactions. This cryptocurrency executes transactions in seconds and demands incredibly low gas fees. Additionally, it supports interchain asset trading. Users can transfer assets and benefit from staking with this cryptocurrency, earning yields through trading pairs and passive income from high staking rewards.
In 2022, CoinMarketCap included the Stakenet project in its “Untracked Listing” list. Additionally, CoinGecko reports that XSN coin trading activity has not been recorded for two months. As a result, users interested in investing in the project should exercise caution.