ADSactly On ADSACTLY - MASTERNODES - A new vision for the blockchain (part#1)

in adsactly •  5 months ago

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ADSactly on ADSACTLY - part #44

ADSactly - MASTERNODES - A new vision for the blockchain (part#1)
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MASTERNODES - A new vision for the blockchain (part #1)



Masternodes. Sound cool, right? But, what are they? Before we explain further, a question, please:

Did you ever dream of owning a coin foundry just like in the old days, way before people started printing pieces of paper and call it money? Coinmakers were minting silver and gold out of the fire! It was a hard and strenuous daily work. But today, you can produce your coins way easier, without much sweat! As a passive income!




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Well, your dream can easily become a reality because this is what masternodes are! Coin foundries made to support a cryptocurrency blockchain and produce a coin for you on top of that. To explain masternodes (bonded validator systems) in simplified terms (simplified enough, not simple for an ordinary person), we would say that masternodes are decentralized currency servers, working on a specific blockchain system which is different from the classic, for example, Bitcoin one.

A masternode can be any computer running a VPS server and a wallet filled with a certain number of the designated coin. One cannot mine a masternode coin without owning it first, what is quite a grand idea because this rule actually locks a substantial amount of coins to each masternode and thus raises the price for the rest of them. The bottom line is: one needs to buy a substantial amount of a certain coin from the market before setting up anything.

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Masternode server utilizes its resources (VPS, local machine...) for verifying transactions between the parties, running a decentralized voting system and acting as a node in a blockchain of a specific coin that you have decided to own. We could easily say that, based on the architecture of the blockchain, masternodes help their blockchain more than the classic mining systems.



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What we find to be a novelty is that masternode systems equally split the block rewards between the blockchain distribution mechanism and creating new coins for the masternode owner. The ROI is quite lucrative and we believe this might be the thing of the future of crypto.



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The basic computer knowledge will not be enough for you to run a masternode and it is not advisable for a beginner to jump into masternodes without any guidance but, then again, it is not a rocket science, either. The rewards can be lucrative if the coin is chosen wisely. Various currencies use different incentive methods to attract the potential investors. Some members of ADSactly also run several masternodes and are quite happy regarding their weekly earnings, even though crypto has seen way better days than on today's markets.

So how do I run one?

Well, as we already mentioned. Firstly you'll need to own a substantial amount of certain coin to own a server. The amount varies from currency to currency and is not set in stone. Secondly, you'll need to rent a VPS on a 24/7 server or buy a server of your own where you'll host your wallet. And at last, you'll need a static IP address. Masternodes will not work on dynamic IP.

This is one of the websites where one can monitor the current masternode projects and their current prices:
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https://masternodes.online/


Please, let us know your experiences with masternodes and give us your thoughts on the subject!

We will continue covering this super hot topic in the next part of our series. Stay tuned!

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If you are interested in joining the ADSactly Society, please read the blog series on ADSactly from the beginning. Have all of your questions answered in advance.


ADSactly on ADSACTLY - Part # 1 Open-Value Network / Co-opoly
ADSactly on ADSACTLY - Part # 2 Do-ocracy / Value Network
ADSactly on ADSACTLY - Part # 3 Open Stewardship
ADSactly on ADSACTLY - Part # 4 Society's Value Contribution System
ADSactly on ADSACTLY - Part # 5 The Value of Our Time
ADSactly on ADSACTLY - Part # 6 Cooperation and fair benefits
ADSactly on ADSACTLY - Part # 7 Support local production
ADSactly on ADSACTLY - Part # 8 Cooperation vs Competition
ADSactly on ADSACTLY - Part # 9 Sustainable Social Model
ADSactly on ADSACTLY - Part # 10 Blockchain Technology
ADSactly on ADSACTLY - Part # 11 Support for Decentralization
ADSactly on ADSACTLY - Part # 12 The Importance of Bitcoin
ADSactly on ADSACTLY - Part # 13 ADSactly in Discord (1)
ADSactly on ADSACTLY - Part # 14 ADSactly in Discord (2)
ADSactly on ADSACTLY - Part # 15 ADSactly in Discord (3)
ADSactly on ADSACTLY - Part # 16 ADSactly in Discord (4)
ADSactly on ADSACTLY - Part # 17 ADSactly in Discord (5)
ADSactly on ADSACTLY - Part # 18 ADSactly Clubs
ADSactly on ADSACTLY - Part # 19 ADSactly Tokens (1)
ADSactly on ADSACTLY - Part # 20 ADSactly Tokens (2)
ADSactly on ADSACTLY - Part # 21 ADSactly Tokens (3)
ADSactly on ADSACTLY - Part # 22 ADSactly Tokens (4)
ADSactly on ADSACTLY - Part # 23 ADSactly Tokens (5)
ADSactly on ADSACTLY - Part # 24 ADSactly Tokens (6)
ADSactly on ADSACTLY - Part # 25 Full Stack Startup
ADSactly on ADSACTLY - Part # 26 Artificial Intelligence Government Pt. I
ADSactly on ADSACTLY - Part # 27 Artificial Intelligence Government Pt. II
ADSactly on ADSACTLY - Part # 28 ADSactly Steemit Blog
ADSactly on ADSACTLY - Part # 29 The Future Of Crypto
ADSactly on ADSACTLY - Part # 30 ADSactly on Globalization
ADSactly on ADSACTLY - Part # 31 Blogging on Steemit
ADSactly on ADSACTLY - Part # 32 Social P2P network
ADSactly on ADSACTLY - Part # 33 Projects in ADSactly Society
ADSactly on ADSACTLY - Part # 34 ADSactly - Medium Blog
ADSactly on ADSACTLY - Part # 35 ADSactly - Environmental Protection
ADSactly on ADSACTLY - Part # 36 ADSactly - Sharing of Ideas
ADSactly on ADSACTLY - Part # 37 ADSactly - Centralized System vs. You
ADSactly on ADSACTLY - Part # 38 ADSactly - Taxation of Crypto - Part #1
ADSactly on ADSACTLY - Part # 39 ADSactly - Taxation of Crypto - Part #2
ADSactly on ADSACTLY - Part # 40 ADSactly - Cryptocurrency Trading General Advice
ADSactly on ADSACTLY - Part # 41 ADSactly - Steem Witness
ADSactly on ADSACTLY - Part # 42 ADSactly - CurveCoin Club
ADSactly on ADSACTLY - Part # 43 ADSactly - XP Coin Club


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Ever since I saw the topic of those "masternodes" mentioned in the ADSactly's discord channel I got really interested! This is indeed not the most easy idea to comperhend and I waited for a post that explains that concept in layman's terms, and this post pretty much manages to do so!

What I find smart about that concept is that there is a huge incentive to the nodes owners to maintain their nodes in good shape, runing and updated - after all, they make money from it, in that way there's an assurance to the network's stability and the whole community enjoys it so it's pretty much a win-win situation.

I also really like the fact that ADSactly has it's own masternode maintained by community members and shared between the members who staked the money in it - I have not got the funds yet to invest myself but if I do - I'll really consider joining the community on this project as it will be taken care of by experienced members and with the supervision of the community - more people, more brains working to maximize the profits from this interesting venture.

There's a dedicated discord channel on the ADSactly discord - hop in and check it out!

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Thanks, very good post !!!!

Awesome Work!

Keep it up!!!

@cryptoinvestinfo

What is your favorite Hardware Wallet?

Ledger Wallet protects your bitcoins

When it comes to masterdome coins it is validation of nodes by “staking” tokens you hold. Meaning, if you act honestly then, just like in Proof of Work, you have a chance to receive tokens for your effort. However, if you do not act honestly then the tokens you stake may be burned. It appears that Masternode coins are becoming very popular. If you own masternodes coin you can be getting some nice rewards from your masternodes. It pays out every couple of hours. However, I don’t like the privacy of masternodes, masternodes are prone to hacks and hack attacks, even if you have respectable VPN provider, so you could lose a lot. Of course, if you trust your VPN providers, or have some good way to protect yourself from hacks, go do the masternode thing. One more thing to mention though never run a masternode on your main computer!

At present, passive income is becoming the norm. This is due to the development of technology and, first of all, the development of the digital economy. All these things change the outlook on life for ordinary people. The community @adsactly introduces us to another project of Masternodes. Many users will not understand its functions and directions. But I would advise people to carefully study this project. All the projects that are presented here are excellent projects. Having carefully studied all its features, I believe that it is promising.
Masternodes are computers that manage a wallet and make decisions. Solutions can be different - such as blocking transactions with, coordinating voting on budget financing, mixing coins.
You have the opportunity to work 24 hours a day without wasting time. In addition, there are a number of services provided:

  • InstantSend - instant transactions.
  • PrivateSend - anonymous transactions
  • Decentralized management - this option does not need to be introduced
    And other advantages. I see great potential in the development of this project.

Would love to have a few masternodes going...

A new blockchain? I think you will soon open another social media that pays like steemit

This is a really interesting idea. Passive income is hard to come by these days.

Masternodes are good for passive income and are popular for stable and less volatile returns, profitability depends on value of Coin on exchange, MN crypto strangely has very limited volatility, but beware and research cautiously as I have seen lot of MN ledgers with questionable transaction patterns. No standard MN’s I can suggest, please do your research before investing.

Cheers~~

interesting

Wow...The joy of getting to know more about cryptocurrency...Thanks for such kinds of post.....
I am always follow your article.....

@adsactly

I am always engrossed with your article, with a unique method of blogging.

I will likely join your discord chat forum

Blockchain and masternodes...Like olive oil and water.. @adsactly

Gran contenido @adsactly siempre por delante

wow… .masternodes way up👍👍👍🙌🙌🙌🙌🙌… thanks alot @adsactly for the enlightenment about masternodes,so straight forward and very comprehensive… thanks man you be boss

interesting post...

Wow . you are really sharing a great stuff about cryptocurrency. This is really great

WOW…… NICE POST… MUCH LOVE BOSS

impressive delivery, warm greetings from a height of 1300 meters

Now that's a good advice if i earn few crypto currency as my passive income.I am interested ,i need to talk to you for doing this.Thaks for the post.@upvoted ans resteemed

Great understanding and explanation of how a master node works! Thank you!

It looks very interesting to know more about the subject, I think it's a good idea.

I take the opportunity to invite my profile and vote for my last message, related to Bitcoin, please. Greetings.

Good Post!

nice blog. thanks for sharing @ adsactly

New currency new experience...@adsactly
Hope that :

A masternode controls a cluster of nodes within the network. It runs a similar billfold package as alternative nodes within the blockchain and it offers additional services to the network
With a lot of masternodes being created within the network suggests that a lot of security for the coin and a lot of votes for proposals.

Interesting article really appreciate your efforts

thank you man for useful content!

Nice blog , I like it

I have to admit this is the first time I read about Masternodes , I was puzzled about the fact that I read this a lot of times and didn't understand anything at all, so I decided that I couldn't keep this lack of knowledge about the subject anymore. Now, after reading the article like three times, I have to say that I have even more doubts that I had before; although I'm motivated to learn more about this matter.

What I learned:

  • A masternode is basically your computer lending its power to improve the transactions of a cryptocurrency, the masternode operator gets benefited from it.
  • Obligatorily you will need to use a VPS and a certain amount of cryptocurrencies in your wallet to run a Masternode.
  • You will need to learn about masternodes before you start using them. Do not rush.

This is what I understood, if I'm wrong, please correct me. Definitely I'm going to learn more about this as it looks profitable.

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Love this, am voting

Love this, am voting

Love this, am voting

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Thank You! ⚜

Nice post brother.

Waoh much to learn about blockchain thanks for the post this we help

Good i like it

Nice your post bro

well, I'm interested but I really do have to have some good amount.

I'm not sure I understand, All my vision is allowing me to read is 💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰✨

Tezos will have this feature and I've heard rumors that you need as little as 500 tokens and upwards of 10000 in order to do this. Can anyone confirm the amount?

I have been staking large sums of Vericoin and Reddcoin for a few months now, and while its not exactly the same thing, the rewards have been considerable.

I need a masternode now..

Congratulations @adsactly!
Your post was mentioned in the Steemit Hit Parade in the following category:

  • Pending payout - Ranked 5 with $ 404,99

Good night.. I am new member in steemit, please follback and upvote my post

Wow...The joy of getting to know more about cryptocurrency...Thanks for the post

I didn't know anything about 'MASTERNODES' , after reading your post , I have learned a lot about MASTERNODES & its new tools, newly added features. It will upgrade the whole system. Thanks man for doing such a wonderful job, keep on enrich Steemit with your great work

oh my god ! what is super node?

I run a few different masternodes and find them a good way to support coins for the long run I also like the governance and proposal system some of them have in place to help the community support which direction the coin is going in.

I currently am trying to fix an abandoned coin and have got it moving forward but sadly I am no coder so I have got a little stuck so if any coders out there have a little time please get in touch so we can get another decent masternode coin fixed as we have some good ideas for this one.