Introducing StakeNet(XSN) The first POS cryptocurrency that allows staking from cold storage wallets.

Hello everyone I would like to share this article that was written by Sandy, who is a brother in arms in the StakeNet(XSN) army.

First, as this is my very first post about cryptocurrency, I would just like to say a few words about investing in crypto. The statements, “Do your own research” and “this is not investment advice”, are common for good reason. As such, please do not consider this piece of writing as investment advice and seek the counsel of a qualified investment professional. This post is merely a report about the positive and financially rewarding experience of staking my XSN via Stakenet’s first of its kind, Trustless Proof of Stake System (Tpos).

At this point in the cryptocurrency timeline, I am sure that most readers are familiar with terms such as Proof of Work (POW), Proof of Stake (POS), etc. Of course, I do appreciate how many definitions have entered our ever-expanding crypto lexicon, so here is a quick guide as to how these models work. Generally, Proof-of-Work denotes a system whereby specialized computers are tasked with “guessing” a series of mathematical puzzles, so that the folks who run the computers receive a reward. In numerous cases, POW systems require large amounts of money, expertise, space, and worryingly, energy to function.

POS systems validate the network in a slightly different manner. Rather than dedicating hardware to solving complex puzzles, most POS systems involve users proving that they own “X” number of coins and are therefore entitled to a portion of the next reward. Up until this point, POS systems have required users to jump through a number of hoops, just so they can access rewards owed to them. Unfortunately, people do not want to have to set up a separate laptop and then leave that laptop turned on and connected to the Internet 24/7. Plus, a lot of folks do not want to deal with the hassle of operating and paying for a VPS running Ubuntu. Why should users have to tolerate security vulnerabilities and additional monthly fees just to get paid ? Mercifully, Stakenet’s Tpos system allows crypto enthusiasts to enjoy passive income in what is the most private, secure, and easy to use platform in all of crypto. In a Stakenet (XSN) blog post, main developer John Draper describes the system as follows : “TPoS allows any fund owner to delegate the duty of growing their funds to any interest generating service provider (typically served via Masternodes on the network) without having to relinquish control over your funds.” Dear reader, if that was too much jargon, allow me to simplify things. Each XSN holder has access to three keys : one private, one public, and unique to Stakenet, one “shared” key that allows a user to
delegate the right to stake their share of coins while retaining custody of said funds. Such a function is fundamentally different from, say, a pooled masternode. Tpos is a vastly superior system in terms of privacy and control over one’s funds. For instance, a pooled masternode requires a high degree of trust because the owner of the coins is forced to relinquish control of his funds. Crypto is already full of shady actors. Do users really want to hand over their coins to some dudes from Reddit ? Fortunately, as I describe below, Tpos users can easily stake their XSN, free from worry about the trust issue because, well, it is trustless. Your private key, and by extension, the XSN are under your control at all times. As soon as I read about Stakenet’s system, I knew I had to try it. In fact, I would say that Tpos made me excited in the same way that IOTA’s and SYS’s Directed Acyclic Graph systems made me excited J.

Ultimately, I decided to use Cheapstakes.io because they had an online concierge that was insanely easy to use. In fact, my girlfriend likened their concierge to a posh shopping site’s assistant- it was that easy. Other merchants may very well offer a similar experience but I can only write about the great experience I had with Cheapstakes. Here is how it went down. First, I went to the Tpos marketplace on the XSN discord. Second, I reached out to the Cheapstake merchant (alternatively, you can do this directly online http://cheapstakes.io/ ) Third, I told the helpful concierge what amount I wanted to stake and at what commission (depends on how many coins) and voila, I open my laptop each week to find my freshly minted Tpos funds. I don’t know about you but I love the idea of minting money from thin air. I do need to mention that there are a number of other merchants outside of Cheapstakes, the most impressive of which is merchant.pro. To quote their representative : “The idea is for people to have their XSN in their Nano or any other hardware wallet (or any other wallet the owner wants to use) and just with a few clicks start staking, while not worrying about servers or anything and also, on top of that, the big thing is that TPoS allow you to earn the staking rewards in Monero or Bitcoin”- pretty neat, huh ? I urge everyone to take some time and consider multiple merchants so that each individual is able to stake at the most profitable rate.

      Dear reader, I hope that you enjoy using Tpos as much as I did.  It is a tremendous innovation within the crypto space, and I can’t wait to trade my Tpos rewards in the upcoming in wallet DEX (via atomic swaps).  Thank 

you very much for taking the time to read this post. 2018 is going to be quite the year !

If you would like to learn more please visit the website.

https://xsncoin.io/