Topic: Stakenet makes The Lightning Network Decentralized Using Masternodes. Thoughts? - page 2. (Read 337 times)
August 17, 2019, 03:15:01 PM
Looking forward to wallet and DEX releases. I hope it will shake the crypto scene up. We need simple solutions for lightning and trustless trading (lightning swaps) without waiting hours for onchain confirmation (atomic swaps).
August 16, 2019, 07:25:38 PM
On-chain, Bitcoin is capped at 7 tx/sec. The more activity the network sees, the slower transactions become.
As it grows in value, fees increase as well.
Lightning allows for a theoretically unlimited number of transactions at near-zero fees, but it has seen stagnant growth because there's little financial incentive for individuals to adopt it on their own.
XSN's solution involves using its decentralized MN network and the collateral locked in them to rout payments, act as watchtowers, and provide a ton of liquidity for transactions.
This will bolster Lightning without centralizing it.
As XSN is inflationary, the supply will slowly increase over time and allow more masternodes to participate.
With this design and approach, BTC will be able to scale and take on much heavier workloads without hitting any major bottlenecks down the road.
Additionally, XSN's masternodes are going to use lightning to restore some of BTC's inherent privacy and anonymity that was compromised by CEXs and KYC.
By embedding TOR into the network and implementing lightning atomic swaps, anyone will be able to instantly and privately swap a wide variety of coins without ever having to send them somewhere that is out of their control. This will greatly minimize the need for businesses that accept crypto to adopt 10 different types of coins as so many of them can be instantly swapped into BTC.
Imagine a standard Bitcoin qt wallet with an extra tab that offers everything that a full scale exchange has and you have the essence of Stakenet.
I'm a huge fan of Lightning, but don't like the centralized part of it - Seems like Stakenet got a solution to make it Decentralized, which is pretty damn cool.
The project aims to enhance the user experience of BTC and LTC payments with their upcoming dApps like their Lightning DEX, and Multi Currency Lightning Wallet.
What are you guys thoughts on this? Honestly if crypto ever goes mainstream, you'd be waiting WEEKS, if not MONTHS for your BTC and LTC transactions to arrive, which is simply not sustainable, let alone the increasing high fees.
I know there are crypto alternatives like NANO, but BTC will play a HUGE role in crypto moving forward, and needs to scale properly.
As it grows in value, fees increase as well.
Lightning allows for a theoretically unlimited number of transactions at near-zero fees, but it has seen stagnant growth because there's little financial incentive for individuals to adopt it on their own.
XSN's solution involves using its decentralized MN network and the collateral locked in them to rout payments, act as watchtowers, and provide a ton of liquidity for transactions.
This will bolster Lightning without centralizing it.
As XSN is inflationary, the supply will slowly increase over time and allow more masternodes to participate.
With this design and approach, BTC will be able to scale and take on much heavier workloads without hitting any major bottlenecks down the road.
Additionally, XSN's masternodes are going to use lightning to restore some of BTC's inherent privacy and anonymity that was compromised by CEXs and KYC.
By embedding TOR into the network and implementing lightning atomic swaps, anyone will be able to instantly and privately swap a wide variety of coins without ever having to send them somewhere that is out of their control. This will greatly minimize the need for businesses that accept crypto to adopt 10 different types of coins as so many of them can be instantly swapped into BTC.
Imagine a standard Bitcoin qt wallet with an extra tab that offers everything that a full scale exchange has and you have the essence of Stakenet.
I'm a huge fan of Lightning, but don't like the centralized part of it - Seems like Stakenet got a solution to make it Decentralized, which is pretty damn cool.
The project aims to enhance the user experience of BTC and LTC payments with their upcoming dApps like their Lightning DEX, and Multi Currency Lightning Wallet.
What are you guys thoughts on this? Honestly if crypto ever goes mainstream, you'd be waiting WEEKS, if not MONTHS for your BTC and LTC transactions to arrive, which is simply not sustainable, let alone the increasing high fees.
I know there are crypto alternatives like NANO, but BTC will play a HUGE role in crypto moving forward, and needs to scale properly.
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