for W3c validation
What Is A Masternode?
A Masternode (MN) is simply a full node or wallet that keeps a full copy of the blockchain, in real-time. But masternodes are considerably different in their functionality than normal nodes.
Some of the special functions that masternodes perform are:
- Increasing privacy of transactions;
- Processing Instant transactions;
- Participating in governance and voting;
- Enabling budgeting and treasury systems.
These masternodes continuously communicate with each other and thus provide a decentralized network.
What Does It Take To Run A Masternode?
Just like full nodes a masternode can be run by anyone. However, there is an entry barrier in place to ensure that the system does not fall prey to malicious actors. The entry barrier is what one needs to commit or collateralize certain units of that particular cryptocurrency to run a masternode.
This is done to ensure that a masternode owner doesn’t cheat or corrupt the system. The best way to achieve this is by putting the entry barrier in place, where the masternode operator has to put something at stake.
What is required to set up a masternode:
- A certain amount of coins of particular crypto;
- VPS or any PC to host wallet 24 x 7;
- A dedicated IP address;
- Enough storage space to save the blockchain.
How Are Masternodes Useful For Cryptocoin Investors?
Masternodes are very useful for crypto investors because running a masternode is incentivized. Think of it like earning a monthly or weekly interest on your crypto holdings.
Different cryptocurrencies have different incentive models through which an MN operator can earn a monthly or weekly income. I call it smart passive income.
Another thing to understand here is that you should choose the right currency for investment if you are solely investing for running a masternode. You should compare the percentage yield against the investment. In short, you should smartly calculate your ROI.
Why choose SCRIV as an investment?
SCRIV is a fork of Dash, and took its best qualities, such as fast and safe transactions, PoW, and masternode support. However, unlike its parent, SCRIV is a utility coin that will be used for data assurance, verification, and timestamping. [see Whitepaper]
This fact makes it an attractive investment for long-term holders. SCRIV network (beta version to be released in Q2 2018) will utilize SCRIV as a payment asset for all network operations.
SCRIV masternodes can be interesting not only for cryptocurrency investors, to get stable passive income, but also for a SCRIV network high-volume users, to be able to cover all data assurance fees.
SCRIV masternode collateral is 100 000 coins, which, in combination with 78.8 block reward (from April) makes it affordable for miners.
Check out real-time masternode stats at Masternodes.online