Quarterly DEV Update — Q2 2018
Greetings Stakenet Community!
Welcome to our Quarterly Developer update for Q2 2018!
We have made several incredible achievements in the previous 3 months and released some very important features. Let us review together what has happened during this time;
TPoS Implementation Successful
As much of the supply has been successfully swapped from POSW to XSN and over 63,000 blocks were already staked trustlessly within the Stakenet blockchain, it can be said for the first time ever: a user can stake on a PoS protocol safely and securely offline through a technology called TPoS (Trustless Proof of Stake). This provides security for not only the user, but also the network, as coins being held offline in the network provide extra security. This is something other PoS coins do not do. The team’s ethos is simple — help move our industry in a direction where trustless economies reign supreme, power is given to the individual, and a symbiotic strengthening is established for the network user. To find out more about TPoS click here for our official TPoS document or read the cointelegraph.com article.
New Listings for XSN
In the previous three months, XSN has been added to several exchanges and third-party services. Most of these listings incurred no fee and resulted from our unique and compelling technology and supportive community.
Since 1st April 2018, the Stakenet team has increased to 33 members, including 4 core developers, 11 developers and 2 technical analysts. These team members are responsible for the development of the Stakenet blockchain and XSN business including the staking service and DEX. The rest of the team include community support specialists, graphic designers and marketing and PR specialists.
Newly Appointed Advisor
Frank Amato, former executive director of JP Morgen and Block5.io co-founder, has joined the Stakenet team. He will be assisting Stakenet with bringing early adopter retail investors into the project as well as advising on the building of the DEX to create an optimal trading experience. 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. Since then, he has been successfully investing in start-ups both directly and via Blockchain Capitals Angellist syndicate. We are delighted to welcome Frank to the team, and strongly believe his experience in the traditional banking sector will aid in the build-out of the trustless multi-currency wallet. For further information, read the following Nasdaq.com article about Stakenet and Frank’s appointment.
Why did we decide to rebrand? To provide an image that conveys professionalism and a high-quality service, we entered a new stage of product design and development. Ultimately, investors and holders will see the growth and improvements of XSN and all the connected products Stakenet provides. As a result, our upcoming updates will lead to further growth of the community, increase in the price of XSN and market capitalization. The lack of brand guidelines and professional approach resulted in an absence of unification among products, marketing and brand communication. The old logo was hard to recognize in smaller sizes, not flexible for multiple purposes and not competitive among major coins. To address these problems, the new logo design was based on the golden ratio and represents the key objectives of Stakenet. The Stakenet logo presentation provides an overview of our logo rebrand.
Announcing XSN Hardware Wallet
XSN will be dedicating a hardware division to bridge the gap between the blockchain digital world and the real world. As of now, it is difficult for a user to safely access his asset, let alone benefit from the unique features that different coins provide. These devices will be more than just a “wallet”, but instead a means to enrich lives in ways not yet even realized. As technology develops, everything around us will become ‘smart’ and the language they speak will incorporate some DLT or blockchain technology. This new world will need a secure and safe bridge of communication; the aim and purpose of XSN Hardware. We aim to have a working product released by Q4, news and announcements on this are to be released in the coming weeks.
SegWit & Lightning!
All 3 address types (both SegWit and Legacy) confirmed working on our testnet along with all features (Masternodes, TPoS, Governance). We will release scripts and documentation on how to execute Atomic Swaps as a priority. Our mandatory EXCALIBUR update will be pushed after another round of testing to fix remaining bugs. This will upgrade XSN to the latest BTC 0.16.1 codebase, be Lightning and Cross Chain compatible and lay groundwork for ZEUS and MERLIN milestones. Segregated Witness, so called SegWit, is the name used for an implemented soft fork change in the transaction format of the Bitcoin.core blockchain architecture, to include a variety of functions. Read our medium article discussing the SegWit benefits for the Stakenet ecosystem. Keep in mind: SegWit is much more than just a solution for the scaling problem, it is the smallest common denominator for any cross chain communication.
Once SegWit, Lightning and Atomic Swaps are enabled, our next step will be to develop the first truly decentralized exchange, run entirely by Masternodes (not just supported by Masternodes). When using Stakenet’s DEX, your coins never leave your possession and you will have unlimited access to them at any time. So, you can benefit from all the utilities and features your coins and tokens offer you, including staking rewards. The DEX cannot be shut down by any third party, even Stakenet cannot shut it down once it’s up and running. All trades are done on a peer to peer basis and require no centralized middle man to process the transactions. This means more security for all users and lower fees. While centralized exchanges have control over your coins, Stakenet’s DEX will empower users to trade simply and easily while maintaining absolute control over that coins. Therefore, using Stakenet’s DEX is not only much safer, but also cheaper, faster and more reliable. For further information, join our YouTube channel and watch our DEX videos.
Ledger Nano S
After minor miscommunication and integration problems, Ledger have confirmed that progress is being made on the integration of XSN as a priority and this has been moved to Internal Development. An exact date for integration will be announced once confirmed by Ledger. You can track Ledgers XSN support status here.
We have released an updated and detailed whitepaper. The document is now even more useful and detailed about the Stakenet blockchain and our trustless profit driven ecosystem in all XSN business cases.
Our website, Stakenet.io has been built from scratch to make way for the upcoming features that are currently in development, including Pooled Masternodes, TpoS Marketplace, DEX and Masternode Monitoring. Next to xsncoin.io, this will be the new place to access all the key features released by Stakenet and read all the latest information.
XSN Cloud — Staking as a Service
With the launch of our official “Staking as a Service” platform — cloud.stakenet.io, we unlocked one of our major achievements for 2018. Thanks to the XSN Cloud, you will be able to trustlessly stake XSN, regularly stake major PoS coins, host Masternodes and execute Atomic Swaps via our upcoming Decentralized Exchange built on XSN Masternodes. The future will move towards the centered platform, trustless utility and cross chain developments. We believe Proof of Stake coins are the future, therefore we created a suite of staking tools you can capitalize on. Profits from ‘XSN Cloud’ will be burnt or sent to the treasury to further benefit XSN.
Next Upcoming Major Release
Our team decided best to combine SegWit, Bitcoin.core updates, Atomic Swaps and Masternode challenge requirements into 1 mandatory update (1.1.0), set for early-mid July. Challenge requirements will be negligible when we first release so masternode owners don’t have to adjust their current setup. This update is important as it puts in place scalable infrastructure moving forward. Following 1.1.0 we will integrate Lightning Network in 1.1.1 as well as early integrations of our multi-currency wallet and development of our new mobile compatible wallet EXCALIBUR while laying the groundwork for CCPoS. For this purpose, we recruited a full-time developer in early June.
Join us on Discord: https://discordapp.com/invite/6QrXTeA