I know BTC is king, and I know BTC and LTC are leading lightning network and I know XSN is one of the only projects innovating on lightning besides the other 2. However, I am unsure why it matters?Can someone explain to me why lightning matters? How does it work?
Why is masternodes collateral necessary?
Bitcoin and Litecoin is probably the most known crypto currencies around, they are also the oldest chains. They own the most reputation in the crypto industry, and is by far the most used (Not to forget ETH ofc).
As stated in my original post, it matters a lot that these blockchains can scale with the growing demand. If transactions takes too long, nobody will even bother to use it as a currency. There's a reason people call
Bitcoin a
"Store Of Value", it's a
bullshit lame excuse. Bitcoin was meant to be used as peer to peer money, without any centralized entities involved. All these centralized exchanges and their
KYC requirements is NOT how Bitcoin was supposed to be used in the first place (Read Satoshi's white paper).
Stakenet is promising because it enhances Bitcoin and Litecoin - Which means people invested in BTC and LTC will benefit hugely from services provided by Stakenet. So in other words, It's
not a competitor per say, like most altcoin projects out there, who wants to be
"the best", with as much transactions per second as possible.
Most projects only focus on a couple of things:
Privacy
Speed of transactions
Platform tokens
Oracles
- And the list goes on.
Trading, especially day trading has become VERY popular these days, because the market is as "boring" as it is. Trading on any centralized exchange is risky, since it can be hacked due to it's centralized point of failure.
Guess what happens once you can trade
instantly, anonymously, and 100% trustlessly through a Lightning DEX, which offers lower fees than most centralized exchanges?
Now, with Stakenet's Multi Currency Lightning Wallet, you'll be able to catch a HUGE BTC pump on your way to work, tether up in an INSTANT, (Again without risking your funds on a centralized exchange), and exchange it back to BTC (or any other lightning compatible coin). You'll be able to do that with a simple click on your app while on the go.
All the technical parts is solved by the masternodes running the dApp. You wont even need to sync up with the DEX, nor register, or provide ANY personal informations.
Now THAT is freedom, and it's
exactly why I'm accumulating this every chance I can.
Atomic swaps is cool and all, but if you think for one second, that the general public wants to wait even 2 minutes between each trade, you're delusional. Atomic swaps is NOT a great solution for a DEX, Lightning is.