Question 1

What is the current price of Stakenet (XSN)?

Accepted Answer

As of the latest data, the price of Stakenet's native cryptocurrency, XSN, is £ 0.09535098. Its price increased significantly over the past 24 hours by +0.00%.

Question 2

Can you explain what Stakenet (XSN) is?

Accepted Answer

Stakenet is an open-source, Lightning Network-ready platform designed specifically for decentralized applications (dApps). The platform's native cryptocurrency is XSN. Stakenet prides itself as the first blockchain equipped with Masternodes that are ready to work with the Lightning Network. This particular setup enables XSN to support instant, almost free, and unlimited transactions every second. Aside from this, the network also runs the first Lightning Network Decentralized Exchange (DEX) on its platform. Being among the first in line, after Bitcoin and Litecoin, it was able to execute Lightning Swaps. In terms of the coin itself, XSN is similar to Bitcoin and Ethereum's Ether in that it serves as a digital currency whose supply is not regulated by a central authority, be it a government or a company.

Question 3

Who developed Stakenet (XSN)?

Accepted Answer

While specifics about the creators of Stakenet are not readily accessible, their primary goal is clear: the team aspired to create a secure and efficient blockchain platform for decentralized applications. They utilized their expertise in blockchain technology to develop a setup that takes full advantage of the Lightning Network, giving rise to numerous advantages such as instant transactions and minimal fees.

Question 4

How does Stakenet (XSN) work?

Accepted Answer

Stakenet operates using something called Trustless Proof of Stake. This mechanism allows users to stake their coins from offline cold storage like a hardware wallet. Despite their funds being offline and secured, users can still receive stake rewards. This is in line with the team's objective to deliver superior security while simultaneously enabling users to earn from their holdings. Additionally, Stakenet makes use of the Lightning Network, which is primarily known for its ability to process vast amounts of transactions swiftly and at a minimal cost. Stakenet is unique among other networks because it runs a decentralized exchange (DEX) on its Lightning Network.

Question 5

Can you give a brief about how the Lightning Network on Stakenet works?

Accepted Answer

Stakenet's Lightning Network, like others, is a "second layer" payment protocol that operates on top of the blockchain. It's designed to facilitate faster transactions between participating nodes. The Stakenet DEX, which is built on top of this Lightning Network, allows for trustless and instant peer-to-peer exchanges. The platform is designed to deliver a high level of scalability and efficiency, supporting a much higher volume of transactions per second than a traditional blockchain.

Question 6

How much Stakenet (XSN) is currently in circulation?

Accepted Answer

As per the latest available data, the circulating supply of XSN, Stakenet's native currency, is 126.0M. It's worth noting that the total supply of XSN is {{totalSupply}.}

Question 7

How can you buy Stakenet (XSN)?

Accepted Answer

To buy XSN, you can head over to any of the Bitfinex, Beaxy, CoinAll, Livecoin. Keep in mind that different exchanges might have different purchasing methods available, so it's advisable to look into the details of the specific exchange before proceeding.

Question 8

How can Stakenet (XSN) be stored safely?

Accepted Answer

XSN can be safely stored in a cold storage wallet, such as a hardware wallet. This method of storage offers improved safety as it keeps your XSN offline and away from possible online threats. Besides, Stakenet's unique Trustless Proof of Stake protocol allows users to stake their XSN while it's safely stored offline, enabling them to earn staking rewards.

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