StakeCube: An Innovative Stakepool Cryptocurrency
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When Bitcoin came about approximately a decade ago, the ways of acquiring coin were either buying or mining. Notably, this form of mining relies on Proof of Work (POW) to generate new blocks. However, developers got wary of the energy inefficiency and hardware requirements of POW coins. Eventually, a new form of coin generation called Staking came about. Gradually, Staking has become a significant algorithm in Cryptosphere. The StakeCube coin combines staking and pool mining, or as I would describe it; Stakepool.
Staking
Staking is an increasingly popular algorithm for new cryptocurrencies. In a nutshell, this process involves the purchase of coin and holding it in a wallet for a certain period of time. This is comparable to a fixed deposit is mainstream banking. In other words, think of it as a bet only that there is no possibility of losing.
Just like you earning interest in a fixed deposit, staking rewards you with an additional coin at the end of the stipulated period. This means that you essentially support the network and in the process get rewards. Therefore, the amount of coin you earn depends on how long you keep the stake in your account.
This is much simpler than mining for two reasons. One is that the process does not require the technical algorithmic computations that power mining. Second, and as a result of the first reason, is that you don’t need the sophisticated mining equipment like ASIC-Rigs for mining Bitcoin.
Staking is energy efficient and incentivizes investors to keep coins rather than selling. This brings general stability to the coin price. However, the one drawback is that you essentially lock coins and can’t use them before the end of the stipulated period.
Project StakeCube was launched in June 2018 utilizing this mechanism. That said, there is a community element to the staking. This is because the staking comes in the form of pools where users forfeit solo staking for the more efficient Stakepool.
StakePool
A Stakepool is a solution for users who simply have too little coin to meaningfully earn from solo staking or investors who cannot afford Masternodes. This coin utilizes a new POS Stakepool and is very user-friendly. The Graphic User Interface is excellent containing all the relevant information. This is because you can track the percentage of the pool you own in real-time besides other accessories.
Notably, StakeCube is a fully automated StakePool. Accordingly, anyone seeking to engage in staking has a simple and intuitive channel to join a pool and generate profit. In an effort to make the platform more community oriented, the developers also added voting on the project’s Discord channel. One other voting area is on features to be implemented. The platform is great and offers timely support for users.
StakeCube features
1. Exchange- StakeCube is the pioneer staking pool to have an embedded exchange.
2. Masternode hosting
3. POS education- You can learn and exchange empowering information on POS, coins, and trading with members and expert advisors.
4. Coin ranking for real-time coin and Masternode monitoring.
Platform’s functions
- Automation of coin management- Everything from deposits, staking to withdrawals is automated.
- Shared Masternodes- Even with a small stake percentage, you can participate in Masternode rewards. This also furthers the community aspect of the Stakepool.
- Exchange services- This is a feature in development. Essentially, you have efficient exchange services. This saves time and costs in trading activities.
- Airdrops-This is generally a feature of reward distribution. Aptly named, it allows you to receive a bonus over and above your stake.
What are the advantages of Stakepool?
- You need not keep your wallet on always which saves on power and time.
- The Stakepool means you literally earn what you see. By this, I mean that you don’t get to incur the transaction fees that are typical of solo staking or mining.
- Importantly, you really minimize power and hardware costs.
- Additionally, the servers boast of the latest security technology. It goes without saying that security is a massive priority for any coin holder and the stake pool serves well in this regard.
- The rewards are bigger than what you would typically get in a solo staking effort especially where you stake relatively small amounts of coin.
Stakepool Rewards with Stakecube
In brief, distribution of Stakepool rewards is as follows; 97% goes to automatic distribution to members with a share of the coin, 1% into the pot for Airdrops and lottery to be returned regularly to all Users. Finally, the remaining 2% will cover costs for Affiliates, Server and Employees.
Conclusion
In summary, StakeCube is a coin for everyone. Not only does it enable small-scale investors to have a chance at profitable staking but also offers additional efficient features to make their experience great. This is definitely a coin to watch.
