WHAT IS A MASTERNODE?

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  • Last Post 18 December 2017
Cryptoboss posted this 25 November 2017

Masternodes are computers that run a dash wallet and make decisions, such as locking transactions with InstantSend, coordinate mixing of coins, and voting on budget funding. Masternodes are required to have 1000 Dash collateral, a dedicated IP address, and be able to run 24 hours a day without a more than a 1 hr connection loss. Masternodes get paid 45% of the block reward on every block, which is distributed to masternodes one at a time.  Typically, around 2 dash is paid to each masternode every 7 days. For more information visit: http://dashmasternode.org/what-is-a-masternode/

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Soferox posted this 25 November 2017

Masternodes are not computers that run Dash, they are more generic than that. We just showed Dash as an example. These Masternodes would be for Soferox and not Dash that needs to be clarified. 

Also this isn't a guaranteed thing. Just something we want to gauge the community on. 

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Soferox_Pete posted this 25 November 2017

lol well, that was a ctrl-c ctrl-v example if I've seen one.  Not a stab at you cryptoboss, much praise and respect for Dash and their setup and excellent job in furthering education.  Just kind of funny is all.  

I should also add another importance to the theory of a master node is the importance of stake in voting.  When considering a DAO (decentralized autonomous organization) one must consider the implications of letting an organizations governance be ruled by a democratic group of individuals with varying motives and aspirations.  It is easy to speculate how, without a vested stake in the outcome of decisions how voting could be taken for granted, abused or downright trolled.  This is the internet after all.  Therefore as a sort of quality control voting rights are for those with a sizable stake in the outcome of the vote and it affects on the organization as a whole.  It is thought that someone who stands to lose out financially would take greater care in choosing the best outcome for the organization.  This is a vital and underplayed role of the master node I felt was important to point out to potentially interested parties.  It is vital that these individuals take the role seriously and with a sense of duty.

:  )

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Cryptoboss posted this 25 November 2017

Yeah, No doubt about that, it actually a ctrl-c ctrl-v example, just did it so others can actually go and read about it more.

george posted this 25 November 2017

Hello guys, I'll write it here.

Masternodes are vital and should also be rewarded. Well it has DASH.

 

I am interested in:

supported platform

technical difficulty in handling

commitment

reward

the number of sold Masternodes

price

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george posted this 30 November 2017

If Masternodes then I propose a prize, SFX do as DASH. 1000 SFX / masternode. The price will then rise.

Cryptoboss posted this 02 December 2017

Yes, I guess you have a point there.

sellog84 posted this 14 December 2017

I noticed many coins out there coming out with master nodes and the price boom to few dollars easily like Lux coin.

Since this masternodes have many advantages, i will vote for GO if  Soferox team willing to intercept this early stage rather than later after launch 1st version. 

My 1cent comment  

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cwick posted this 18 December 2017

Some nice points Peter...For the record I'm totally in favor of Masternodes. I also COMPLETELY agree w/George & the others that they should be rewarded. Masternodes can obv be very beneficial all the way around...

Thanks brother....I'm sure we'll talk more soon . ;-)

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