Version 3.0 a Major Upgrade for StakeCube

StakeCube will release Version 3.0 of its crypto exchange and mining platform on 1 February 2021

German-based StakeCube is a relatively small player in the crypto stakes, currently trading at 0.54 on CoinMarketCap. It launched in mid-2018, as a proof of stake, crypto trading and mining platform. It has since added new user-friendly features, now boasting 60,000-plus users and listing more than 55 different coins.

V3.0 introduces a bundle of new apps to the platform. For instance, one new function gives customers the ability to auto-sell their rewards against Bitcoin, Dash and Litecoin. Another feature rewards users in extra coins for winning certain games in the games application.

What’s new in StakeCube 3.0

StakeCube founder and developer Oleg Warkentin describes V3.0 as a major upgrade.

“This is a major re-do of the platform, importing and migrating everything to an RP- based system in the background, rework some front-end stuff as well, to make it simpler and more user-friendly,” Oleg said in an interview with Germany’s Crypto Magazine.

Oleg Warkentin

He said the launch of the platform’s own cryptocurrency, StakeCubeCoin (SCC), was also a vital step in taking the platform to the next level.

By registering with SCC masternodes, StakeCube customers get daily or weekly interest in buy-ins from four different Ethereum-based cryptos, Bitcoin (BTC), LiteCoin (LTC), Dogecoin and Dash.

However, in V3.0, StakeCube has reworked how customers gain interest on their coin through the platform. A new feature to the masternode hosting system removes the need for users to join by manual action. Instead, customers will just deposit coins into one pool, fully automated and behind-the-scenes, until enough capital is realised to pay out users.

“We not only listed on CoinMarketCap, but we also started to integrate a lot more coins. Specifically, stable coins—that is, Ethereum-based tokens in general,” Oleg said.

Not PoS or PoW, just bad timing: Oleg on 2020 price dip

StakeCube recently switched from a proof of stake (POS) blockchain verification algorithm to a proof of work (POW) algorithm. Both are ways for decentralised systems like the systems which generate cryptocurrency to “agree” that each “coin” has indeed been generated and put into circulation.

“Bitcoin goes up like crazy, many people want to cash out and take the profits and risk selling at lower prices. And many alt-coins, not only our coin, move to Bitcoin”

Proof of work, the algorithm used by miners of Bitcoin, needs huge amounts of energy to keep adding blocks to the chain of equations that produce each coin. Proof of stake requires less energy, as it’s based on a capped amount of potential coin with miners having a “stake” in ensuring each coin is verifiable.

Asked by Crypto Magazine if the—admittedly good—decision to use Dash core had led to users seeing lower rewards from the currency from masternodes, Oleg said: “I think the price itself is not linked to moving to proof of work and removing proof of stake, but it’s a bit of bad timing. Bitcoin goes up like crazy, many people want to cash out and take the profits and risk selling at lower prices. And many alt-coins, not only our coin, move to Bitcoin. It’s always hard to predict the prices. I’m not a fan of discussing where prices will end up.”

Lead Image by Pete Linforth from Pixabay

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