Review on Staker by Stephen Toluwani
Came with PoS on the Ethereum Blockchain but didn't change a thing
I have seen many projects that get to build on top of Ethereum blockchain as a layer 2 solution in which they get to implement services like proof-of-stake whereby you get a better transaction speed and lesser cost. This project called staker was built in a confusing way. people tend to misunderstand the concept of a Layer 2 solution as this project made a maneuver of the Ethereum Blockchain by creating a smart contract that allows the holders of this coin to stake it's just like the way it is being done on a proof of stake blockchain or side chain. This was good in a way because you get to make substantial income for holding and staking but also bad in the fact that you also get burdened by the very same transaction cost and congestion you face on the Ethereum Blockchain as this was never the solution to solve speed but just to provide an earning to the holders. There was nothing new to its creation.
Long story short, following an update that came out in May 2019 this project ended every services provided with it's website not going through any more and the exchange for which it is listed on only trade lesser value with volume of less than $1 daily making sure that this coin is really not into the minds of people anymore as it used to be. Not much of a scam but much of being useless if you ask me
Pros
- Provided a means of income to holders
Cons
- The project has been abandoned following an update in May 2019 that never came
- Volume of this coin on exchange is very low. It's at the risk of being delisted
- It never provided any novel use case with it's staking. Just a pure means of earning more Staker tokens
