In the crypto world, A lot of investors believe that those who make money most are those who are day traders or those who are really technically good at analyzing crypto projects. But this is not entirely true.
In the world of Cryptos, there are so many other ways you can earn aside from those listed above. You are not left out if you are not technically good at analyzing or trading. You can still make awesome profits and earn decent money without those skills. You are free to choose from these strategies or features you think its best for you and adjust your risk ratio. One of these ways is to join run a masternode.
What Is A Masternode?
Masternode is simply a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain in real-time, just like you have Bitcoin full nodes and is always up and running.
However, Masternodes are noticeably different in their functionality than normal nodes.
They are different in the sense that, they perform several other functions apart from just keeping the full blockchain and relaying blocks or transactions as a full node does in Bitcoin or Litcoin.
Some of the special functions that these nodes perform are:
• Increasing privacy of transactions
• Doing instant transactions
• Participating in governance and voting
• Enable budgeting and treasury system in cryptos
These Masternodes are not standalone but they are always collaborating with other nodes to make a decentralized network. Mostly the Masternodes perform the tasks that I have listed above but it can slightly vary from crypto project to the other depending upon how the Masternodes have been implemented. But more or less they perform these functions in a cryptocurrency.
What it takes to run a masternode
Running a masternode is not for programmers alone or those with in-depth about cryptocurrencies. Masternodes can be run by anyone who is ready to go in.
However, there is an entry restriction in place to make sure the system does not get harmful. The entry restriction is what users need to start running a Masternode, this can be a required number of tokens to hold in order to be eligible. This is always done to ensure that, participants do not cheat or corrupt the system. This makes it quite impossible for masternode participants to cheat.
What is required to join most Masternodes
The requirements to join a crypto Masternode are not exactly the same, it varies depending on the project a user is joining. These are some requirements for most of the cryptocurrencies out there:
A minimum amount of coins is needed to kickstart
VPS or server to host that wallet for 24 x 7
A dedicated IP address for that
Storage space to save the blockchain
How Mastenodes are beneficial to crypto investors
Masternodes are very beneficial for the vast majority of investors out there. Some of them enjoy 3X of what they invest monthly or weekly. With almost all the crypto projects on Masternode, users are required to keep holding their minimum coin in order to be part of the ride. Participants do not take away their coins and still expect the returns to continue yielding for them.
Another vital thing to consider is the selection of the project you want to join their Masternode. It’s 2020, and there are a lot of crypto projects out there with the Masternode feature. However, most of them are not worth joining due to the meager incentives they provide.
Do you have an idea about Masternode? Tell us what you think about it. Share with us a project you have in mind with a good Masternode feature and why you think they are worth joining.
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