- An accomplished and robust dev team with a proven track record. X9 Developers, the team behind Stakenet, also collaborated with Litecoin to bring LTC’s core code up to the latest Lightning Network standards
- Large community
Market Data
Price BTC
0
Price USD
0.0105
ATH BTC
0.000398
ATH USD
4.473995
Down % ATH BTC
-99.93
Down % ATH USD
-99.77
Market Cap BTC
37
Market Cap USD
1,329,023
Volume 24h BTC
0.026
Volume 24h USD
928
Circulating Supply
126,573,633
Total Supply
130,112,678
Launch Date
N/A
Website
White Paper
Social Analytics Powered by 
Altrank™
2,588
/ 3,954
24 hour change
Lower ranks are better
Avg. Social Sentiment 24h
50% Bullish
0.0%
50% prev. 24h
Social Dominance 24h
0%
377.8%
0% prev. 24h
Social Engagement 24h
961
245.7%
278 prev. 24h
Social Volume 24h
10
400.0%
2 prev. 24h
Social Contributors 24h
2
100.0%
1 prev. 24h
News Volume 24h
0 Articles
NaN%
0 prev. 24h
Project Highlights
- Stakenet is building world's the world's first Decentralised Lightning Exchange utilizing its unique Lightning Swap tech and run entirely on its Masternode Network.
- Stakenet also invented Trustless Proof of Stake (TPoS), which is a unique Cold Staking mechanism, which means that you can keep your wallet offline or even use a hardware wallet such as Ledger or Trezor, and still receive staking rewards.
- They already have multiple world's first achievements under their belt, including being the first Proof of Stake project with Masternodes to have active Segwit, Lightning Network, and Atomic Swaps.
- Stakenet Wallet allows users effortless non-custodial access to multiple Cryptocurrencies, built-in privacy over TOR, and an In-Wallet DEX.
- Stakenet also has its own hardware division building next-gen products to rival Ledger, Trezor, Casa, and other players in the market.
S.W.O.T Analysis
Strength
Weaknesses
- Inadequate marketing efforts
- Focus of the project is diverse, covers many different aspects of the industry
Opportunities
- If Stakenet can do everything they are setting out to achieve, they are in a prime position to have a significant impact on the entire industry with everything from Lightning Network, Exchanges, Privacy, Hardware, and more
- Stakenet Wallet has an opportunity to bring adoption to Cryptocurrency with its unique technology, which enables everyone to have an equal footing on being able to access all the benefits of crypto, all from one secure place
Threats
- Stakenet faces threats on multiple fronts by specialized companies and projects that are focusing on areas they are entering. For the DEX, you have Komodo and Blocknet, for dApps, you have Ethereum, and for hardware, you have Ledger and Trezor.
- Stakenet is funded by 10% of the block rewards. No ICO to cover development costs. They need a solid financial plan to keep development active
Technical Analysis
Technical Analysis by Kong Trading - 12/02/2019
Currently, on the 1Daily timeframe, we can see a locally a very steep and quick downtrend. This downtrend is leading into the previous area of support, where it has the possibility of showing signs of strength and creating a double bottom. In that case, this would turn into a reversal structure and create a reasonable opportunity.
To read the full Technical Analysis from Kong Trading click here.
What is Stakenet
Stakenet started its journey as POSW back in late 2016. After the initial development, the team abandoned POSW. Later X9 development team took over and used POSW as a base starting point for Stakenet and began transitioning. The project is rebranded to Stakenet at the end of Q1 2018, and a chain swap happened during that time. The project is a POS (TPoS) blockchain & also supported by Masternodes. TPoS enables users to stake their coins offline directly from their local wallets or hardware wallets like Ledger & Trezor (Stakenet’s hardware wallet Viper is also in their roadmap).
They aim to provide simple & easy to understand (even by non-technical users) features - products to build an integrated decentralized ecosystem with cross-chain interaction possibilities.
In their words:
“Stakenet's mission is to make the XSN framework an ecosystem for cryptocurrencies, to access all their features from one single place, that can’t be hacked, shut down, corrupted or abused. Creating a truly decentralized, private, and trustless profit-driven economy for cryptocurrencies.”
Their own coin $XSN is aimed to be used as default currency as the legal tender and gas for the entire interchain ecosystem.
“XSN Cloud” is a product they offer for carefree staking solutions of various PoS projects such as PIVX & Stratis. You can try it out here: https://cloud.stakenet.io/ & you can check out the up to date rewards here https://cloud.stakenet.io/rewards.
Another product they want to offer in the future is a Decentralized Exchange - Stakenet dx. The masternodes supporting the network will get 100% of the fees collected. The same goes for the rest of the applications they want to create on the Stakenet ecosystem.
Technology
Stakenet is a proof of stake (PoS) network that includes a masternode layer enabling users to earn both through staking and from operating a masternode. Stakenet builds on previous iterations of PoS consensus algorithms, precisely that of Peercoin, with an additional implementation that enables staking on cold-storage wallets.
The new implementation is called Trustless Proof of Stake (TPoS) and lets users permit special nodes (called merchant nodes) stake on their behalf, while they keep their coins offline.
Instead of having only public and private keys for a wallet, Stakenet has created a third key called shared key. With the shared key, the user can let a merchant node do the staking for them with their high-bandwidth internet connection for a commission agreed upon by both parties taken from the staking rewards.
This is achieved with a unique transaction with OP_RETURN that contains the terms of the contract between the owner of the coins and the operator of the merchant node.
While the staking nodes validate and secure the network, the masternode layer on top of it is designed to power more network-intensive processes, like running decentralized apps. Users willing to set up a masternode need to lock 15,000 Stakenet (XSN) as collateral.
Block rewards on Stakenet are evenly split between staking nodes and masternodes, while 10% flows into the treasury fund of Stakenet. Masternodes will also earn transaction fees from future applications built on the network, for example, fees from a decentralized exchange.
As the Stakenet code base has Bitcoin Core at its foundation, it also provides seamless integration with the Lightning Network. This enables lightning swaps and atomic swaps with any other cryptocurrencies that support these. The atomic swaps use the hash time-locked contracts (HTLC) to be executed within an allotted period of time.
Is there a MVP?
Stakenet has multiple features that could be considered as MVP, but the crown jewel to most would be the DEX. Stakenet is bringing a true DEX to the market to challenge the most established centralized exchanges.
By creating an In-Wallet Lightning DEX (No KYC or Geo-Blocking), they are making trading effortless and secure by not having to send your assets anywhere or trust them with a third party.
Lightning Swap technology allows instant conversion of assets. This tech has much broader applications than just the DEX, as it can also be used during payments. This means that any asset that Stakenet supports in Stakenet Wallet can be used for payment at any retailer that accepts cryptocurrency. As an example, if a retailer accepts Bitcoin, then users can pay with any other asset. During payment, a Lightning Swap will instantly convert the asset into Bitcoin for the retailer. This technology means that at the ever-growing list of retailers that now accept cryptocurrency payments, anything Stakenet supports will also be able to be used as payment without any need for the retailer to change anything, giving those assets a considerable boost for usage.
Competition
Last Update 12/2/2019
While the projects mentioned below can be seen as competition, there is no direct competition that is doing everything that Stakenet is trying to accomplish. We decided to summarize which aspects of the mentioned projects are trying to achieve similar results with Stakenet.
Blocknet
Blocknet is a competitor to Stakenet on the interoperability between different blockchains and Decentralized Exchange subjects. Unlike Stakenet, Blocknet is not focused on Lightning Network.Blocknet - $4 Million Market cap , 0.82 X of Stakenet Market cap
Komodo
Since Komodo is also focused on Atomic Swaps and Decentralized exchange solutions, it can be considered as a competitor to Stakenet.Komodo - $79.7 Million Market cap , 16.4 X of Stakenet Market cap
Electorneum
Electorneum and Exodus are also competitors to Stakenet because they are light wallet solutions which support multiple cryptocurrencies.Electorneum - $38.4 Million Market cap , 7.9 X of Stakenet Market capIn addition to these, here you can find the comparison charts between Stakenet and high market cap cryptocurrencies. They also compared themselves with legacy payment gateways.
Source: Team Members
Draper
Founder / Director of Operations X9 Developers
Draper leads and manages a team of 30+ developers, scientists, technical specialists and support team members working in different divisions within the Stakenet ecosystem. He oversees all developments in the Stakenet ecosystem and makes core decisions on the long-term development of the project.
Nathan Faust
Co-Founder / Community Manager
Nathan supports the management of the Community and Moderator teams as well as helping grow the community of Stakenet.
Wesley Forgione
PR Specialist
His role includes establishing and developing key partnerships for the project; from partnerships with blockchain technology companies to exchanges. Wesley assisted in the recent collaboration with Litecoin Foundation, to bring Litecoin up-to-speed with Lightning Network technology.
Rebecca Catlin
CMO
Rebecca co-ordinates the marketing strategy for all Stakenet divisions. Key aspects of her role include social media marketing, marketing strategy development, management of International Community Managers and Community team members, marketing partnership development and community growth.
Frank Amato
Advisor
A former Executive Director for JPMorgan and Managing Director at Bear Sterns, Frank has an impressive career spanning over 18 years and placing him on 3 continents. He first became involved with Bitcoin in 2013, eventually buying into the US Marshals auction of Silk Road coins in early 2014.
For more team information, you can use this link.
Team Compensation Method
For Stakenet, 10% of the total block rewards go to the treasury fund. The team is compensated through this fund.
There are 15 long term development “Treasury” addresses allocated with this fund. You can scan their activity on https://xsnexplorer.io/ .
-
XsXUrym97kYmgYS6dZinKy9aPBJtKjsW9s
-
XgHb8RcxKEVpLpGCGSfr7PBhaeyXESPohD
-
XdohZJJNjt58Q8bVYKniE9JqNmj5ZfviEK
-
XvTtMhf4BTamY1rYTYmpUABMpe3AhdzcAW
-
Xot47MBm9nn17dGNjPTvANVL51ckg4acrJ
-
7aDP2dDUBgt6cQWvwjXKraShneTfRNZHsm
-
7ezUJ5WGqxDJmDSU2Qjbd49XvNurMExCRz
-
7UH6TStnJxJTJSGkn58g9TwapowCwbrrNr
-
7WLZ92VMaVPV2CFATK3fFyDzwY2vrFuKGA
-
7YaJ7nZnXPnZc21ER4hF74jN6dm67ELhnT
-
XmPe9BHRsmZeThtYF34YYjdnrjmcAUn8bC
-
7ePSJuTA1BaUAA5tJxy5CgQnhghSLnzmY8
-
7ct5YBquHoe4jh5mBFUaqxENiX46FmHFDw
-
7oM54EDfA3Rc6vfKEJxriL5jKxayb4jy8m
-
Xe21pHPZP1NbVs1Sva5Mqgq4NdXDX8jL12
For more information you can visit https://stakenet.io/faq/#what_is_the_treasury
Roadmap & Events
Q1 2019
XSN Viper multi-currency light wallet launch
XSN Excalibur firmware development and release
Enable One-click Lightning Swaps
Masternode layer upgrade
Xeeda hardware wallet XSN support
Ledger Nano support
Trezor support
Cold Staking from Trezor using TPoS
Q2 2019
XSN Viper X1 launch
XSN Viper X1: Add XSN Masternodes support
Lightning-Enabled Privacy Swaps
Cold Staking from Ledger Nano using TPoS
Launch of Stakenet dx (Lightning DEX)
Masternodes Watchtower services
Q3 2019
XSN Masternodes CPU and DB third-party services
XSN Viper X1: Activate CPU offloading to the Stakenet blockchain
XSN Masternode TOR services
Use Masternode's collateral for Lightning Network liquidity
First layer network upgrade: Enhanced privacy
First layer network upgrade: Sharding
Q4 2019
TPoS contracts migration to XSN Masternodes layer
XSN Viper X1: Add support to run multiple Lightning Network hubs + Masternodes
Masternode's collateral backed stable coin
Masternodes based oracles/ arbitration
Masternode escrow services
Enable Cross-Chain Proof of Stake
Autonomous Swaps by Masternodes Quorums
Confidential Transactions: MimbleWimble
Past Events
Upcoming Events
Token Sales & Economics
Last Update 12/02/2019
Project Start / ICO Details (If Applicable)
- No ICO
- Took over from POSW by X9 developers and rebranded to Stakenet at March 2018
- No premine / 73 Million coins swapped from POSW to Stakenet
Rich List / Distribution
Source: https://xsnexplorer.io/ & https://github.com/X9Developers/block-explorer/blob/develop/infra/misc/hidden_addresses
Top 10 addresses hold: 25,83% (Top 2 addresses are associated with Stakenet.io Cloud Staking & Exchange Wallets)
Top 50 addresses hold: 40.83%
Top 100 addresses hold: 47.73%
The rich list does not include these 35 Treasury addresses:
| XsXUrym97kYmgYS6dZinKy9aPBJtKjsW9s | 7ct5YBquHoe4jh5mBFUaqxENiX46FmHFDw | 7eUdCo6qkxmEiNeBH3u3nR3uJTmqq78w9r |
| XgHb8RcxKEVpLpGCGSfr7PBhaeyXESPohD | 7oM54EDfA3Rc6vfKEJxriL5jKxayb4jy8m | 7ddQv1iAeZTgfWWoirpE8X2AK8n25WQmXZ |
| XdohZJJNjt58Q8bVYKniE9JqNmj5ZfviEK | Xe21pHPZP1NbVs1Sva5Mqgq4NdXDX8jL12 | 7ZRg1Mmjn96ccBESNZo4g8SDADgWaqBEKk |
| XvTtMhf4BTamY1rYTYmpUABMpe3AhdzcAW | 7XgvcffY9tw5gEoK7tvhcLjxppGwx9Erzr | 7VL1Vs2BUJtYan6StgTvg2SLyyYF9SkdhW |
| Xot47MBm9nn17dGNjPTvANVL51ckg4acrJ | 7cs6r3Luw8Qce7uKbvwELLVxxN7rovzgGn | 7nfP4LVA91Uxtc3D6p94Mgm7cM6m89fwVy |
| 7aDP2dDUBgt6cQWvwjXKraShneTfRNZHsm | 7VTLfHKRwXfo1cAFqMiHVJVpyCP6VzbgkX | 7iqUkg5u45NjXniBTFxBGk4bM9NfaLjoEH |
| 7ezUJ5WGqxDJmDSU2Qjbd49XvNurMExCRz | 7aEYMT3Pe62wqvQeaD9u5riReVruheFpSV | 7infjh6BUhZftDQLor2F4THEPqi7DUzzG5 |
| 7UH6TStnJxJTJSGkn58g9TwapowCwbrrNr | 7VaonnUNoNSwEefLW1kJ79jhucfLGpzkxJ | 7m1VYK3HyFRw8f6Wgzh2o9bMgqjMwozA7n |
| 7WLZ92VMaVPV2CFATK3fFyDzwY2vrFuKGA | 7aN5dnEayXrVSg5BYTkWSUX7ZT6CBgBL2D | 7mebaLtTFY19ibPsx7C6tPSXQkuWA6eisX |
| 7YaJ7nZnXPnZc21ER4hF74jN6dm67ELhnT | 7gG3DqeR9Ju2dogZYtY3JYjcm8WBpCbVBN | 7VipmCb7WnnT3KKoWmjwjmyPn1irQQ8ZdZ |
| XmPe9BHRsmZeThtYF34YYjdnrjmcAUn8bC | 7jWeqLyHx4KJeSmME6KBExK2LSmS3drSyf | 7ZSMpWCHmDqqYJe2h97ZFe8pQaEh516CXd |
| 7ePSJuTA1BaUAA5tJxy5CgQnhghSLnzmY8 | 7aptpfXD3L1EamHj5f5RPakGjUGM9ShfjZ |
Block Info / Inflation
1Mb Blocks, 60 seconds for every block
20 $XSN Block Rewards (Final Block Reward Stage)
- 45% Masternodes
- 45% Staking
- 10% Treasury
12.95% Annual inflation today / Decreasing with time
Market potential
Last Update 12/02/2019
Source: https://masternodes.online/currencies/XSN/ & https://xsnexplorer.io/
- 15000 $XSN collateral
- $807 for a Masternode
- 2241 active Masternodes
- 29M Million coins locked in Masternodes
- 32.14% of the circulating supply is locked
- ROI (Annual) 15.57% / 2344 days
Partnerships
-
Partnership with Xeeda: Xeeda is a Bitcoin hardware wallet solution for smartphones.
They announced a strategic partnership to integrate with Stakenet (XSN) to enable users to securely store and earn staking rewards from smartphones.
https://medium.com/stakenet/xeeda-inc-cbe9467a962d
https://www.apnews.com/2a1a9d25b05a004e7f53653af5009de0
-
Collaboration with Litecoin Foundation: Litecoin Foundation is a non-profit organization with members around the globe who share the mission of advancing Litecoin for the good of society by developing and promoting state-of-the-art blockchain technologies.
They formalized a collaboration with X9 Developers of Stakenet in the maintenance, debugging, and hardening of ltcd and potentially other Lightning Network(LN) technologies.
https://litecoin-foundation.org/lightning-network-collaboration-with-x-9-developers/
https://medium.com/stakenet/litecoin-foundation-and-x9-developers-announce-collaboration-510ca985b6
Github activity
Overview
Main Repos
Commit Activity past 12 months
+0
Last Commit
2 years ago
Stars
Languages
Community Data and other Key Information
Social Presence
Stakenet's main communication method with its community is its Discord channel. They have a little over 7.5K people in this channel and admins are present and responsive. Their Telegram community is a little bit smaller with only 1.7K members. The project's Twitter has over 12K followers, good for a project with this market cap. Their tweets get average 30-60 likes but a few comments. They have a fairly less active Reddit with few interactions, only 1K members. They publish educational videos on their Youtube channel.
Other Key Information
Website, Forum(Not Active Anymore), FAQ, News, BitcoinTalk, AMA, Whitepaper, Project Summary
Resources and Important to Read Articles
https://stakenet.io/faq/#stakenet
https://stakenet.io/TPoS_Factsheet.pdf
https://www.altcointradershandbook.com/coin-report-stakenet/
https://medium.com/stakenet/multi-currency-wallet-and-lightning-swaps-stakenet-solution-7d0dafe99105
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